OraSure Technologies, Inc. (NASDAQ:OSUR) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 05:00 pm ET


OraSure Technologies, Inc. (NASDAQ:OSUR) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon, everyone, and welcome to the OraSure Technologies' 2020 Second Quarter Financial Results Conference Call and Simultaneous Webcast. As a reminder, today's conference is being recorded. [Operator Instructions]

Jeanne Mell

Good afternoon. With us today are Dr. Stephen Tang, President and Chief Executive Officer; and Mr. Roberto Cuca, Chief Financial Officer. Steve will provide an overview of our quarterly highlights, including an update on our COVID programs. Roberto will review the second quarter financials and Steve will then provide updates on our other business areas and strategies. We will then open up the call for questions.

Before I turn the call over to Dr. Tang, you should know that this call may contain certain forward-looking statements, including statements with respect to revenues, expenses, profitability, earnings or loss per share and other financial performance, product development, performance, shipments and markets, business plans, regulatory filings and approvals, expectations and strategies. Actual results could be significantly different. Factors that could affect results are discussed more fully in the company's SEC filings, including its registration statement, its Annual Report on Form 10-K for the year ended December 31st, 2019, its quarterly reports on Form 10-Q and its other SEC filings.

Although forward-looking statements help to provide complete information about future process, listeners should keep in mind that forward-looking statements are based solely on information available to management as of today. The company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after this call.

With that, I will turn the call over to our CEO, Dr. Stephen Tang.

Stephen S. Tang

Thank you, Jeanne. On today's call, in addition to our customary overview of business operations and financial performance, I'm going to walk you through why we believe our antigen and antibody tests under development for COVID-19 are extremely well positioned to serve the needs of the testing market and to present an enormous revenue opportunity for OraSure.

We think our biggest challenge after obtaining emergency use authorization from the FDA may very well be how to manufacture enough devices to keep pace with demand. We will also be reviewing our segments and highlighting how COVID-19 has helped or hindered various aspects of our business. The net takeaway on our financial performance for the remainder of the year is that we believe that back half of the year is looking very strong. As a result, we expect the company to post year-over-year revenue growth and to further execute on our innovation growth strategy.

For those of you not familiar with OraSure, we are experts in rapid point-of-care testing for infectious disease, sample collection and stabilization for molecular testing and laboratory and bioinformatic services for microbiome analysis. These capabilities position us well to respond to the global testing needs that COVID-19 pandemic has created. We have a long and proven track record of applying our scientific and technological expertise to developing innovative sample collection kits and accurate tests for infectious diseases.

We've been able to respond quickly to the COVID-19 pandemic working with regulators like the