Meridian Bioscience

The index underperformed the Dow Jones, the Nasdaq, and the Nasdaq Biotechnology Index, which all rose in August.

While the market ditched shares of many other diagnostics firms, analysts said the reaction was overblown, particularly in the case of Quidel and molecular diagnostics players.

The company said it broadened the scope of its life science products to include COVID-19 reagents used by manufacturers to develop rapid antigen tests.

The index outperformed the Dow Jones, the Nasdaq, and the Nasdaq Biotechnology Index in the first half of the year.

The GenomeWeb Index rose more than 2 percent in June, but the increase was subdued compared to the index's 9 percent climb in May and 18 percent hike in April.

The GenomeWeb Index rose more than 9 percent in May, following an 18 percent climb in April, a marked contrast to its negative performance in February and March.

Meridian has been providing essential components, including reagents, for multiple SARS-CoV-2 molecular and serology tests.

Increased revenues in the company's life science segment due to demand for its COVID-19-related products drove Meridian's overall growth.

In a marked contrast to its negative performance in February and March, the GenomeWeb Index rose more than 18 percent in April.