OraSure Technologies

The saliva collection devices are designed for use with third-party SARS-CoV-2 tests or home/self-collection kits and are not intended for sale to patients.

DNA Genotek's devices are used with SARS-CoV-2 tests from Clinical Reference Laboratory and P23 Labs, while Clinical Enterprises' kit is offered by Eurofins.

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 investment bank said it believes OraSure will obtain an FDA Emergency Use Authorization for its COVID-19 antigen test that could lift its stock price.

The firm said declines across most business areas were slightly offset by increases in sales of sample collection devices.

Phosphorus' test is authorized for use with saliva samples collected by healthcare providers or patients at home using DNA Genotek's collection kit.

he firm will use the proceeds to expand manufacturing capacity for its existing and in-development COVID-19 assays.

The test is authorized for a variety of samples, including oral fluid collected with OraSure Technologies' Omnigene Oral OM-505 saliva collection device.