VIVO - Earnings call transcript Q2 2020 | Meridian Bioscience Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Meridian Bioscience Second Quarter Fiscal 2020 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Charlie Wood, Vice President, Investor Relations. Thank you.

begin. may You

Charlie Wood

note morning, call Quarter Good Chief to Fiscal at slides Officer. Meridian's Officer; earnings filings, Thank release investor.meridianbioscience.com. available press Call. and on With Second and Please Financial Chief Earnings Bryan accompany Kenny, our me XXXX SEC and our this you. to Baldasare, welcome that are are Executive website Jack our

the post copy of call. after a remarks will We prepared these

virtual fireside regards Conference be a our With finalized. XXXX. are our participating William event the to and calendar, on that as be will X, Stock as will Bryan chat Blair to Jack June Details Growth of of they website posted part in Annual Tuesday,

virtually connect investors. on working with schedule are events a to that other We opportunities of will provide

fiscal currently Finally, X, XXXX Friday, August is earnings for call XXXX. scheduled our QX

begin and presentation Before that me statements. the company's let we you include forward-looking remind the today, remarks

risks those and beyond by from related today, including publicly many subject company's Forward-looking uncertainties, of materially and results are time may to time and are which SEC risks the the projected. forward-looking differ in to pandemic. filings. that statements company's particular The as COVID-XX statements makes control, update undertakes XXXX, risks no Meridian these company's obligation May to them. uncertainties be may numerous X, And from of in the statements note affected these to described

in most release. operating operating reconciliation directly share, the throughout press and operating to each Additionally, specifically A financial adjusted financial net expenses, are an related basis. discussion measures non-GAAP GAAP of measures income, refer earnings this presentation, included other earnings on we our margin, comparable measures these and with per non-GAAP

Jack. over And the turn call to now I'd to like

Jack Kenny

that and for are and came how X demonstrated extremely months weekly uncertainty personally. executed challenge been have me times a Meridian and Thanks, The transforming. and company company for team of daily. together us our Charlie. the such been proud tremendous of changing dynamics of as at pandemic I'm we strength an industry, this These a the under last have

was First of mobilized broader to our of well-being workforce in who our XX% over to to of focus days the and and team foremost, to to seamlessly facilities the office socially remotely the environment employees. from enabled our our in aspects matter All IT, and the minimize business support and exposure a adjusted working distance procedures begin maximize enhance of to ability health our who workplace. potential coronavirus the

we business responsive our plans this team, leadership made pandemic. of a Meridian's enhancements situation to the continuity unique evaluated across As footprint and global

fortunate the no and COVID-XX We of date, to have continues are that we known needs to team employees, global meet customers. of among our cases our our

us as We contribution to the And our track keep are company response the to carefully our for on growth. such, long-term both maximize was crafted situation this rebuilding response. efficiently and global to sustained

As test of demonstrated Back division Life supporting XXXX, companies is in COVID-XX prior one first built response. the were Science outbreaks like our rapid January, we development. the Zika in virus for in

in for for our develop the production companies outbreak. The virus team to molecular and of quickly them got diagnostic reagents tests hands up detection optimized growing of China in ramped RNA the

reagents COVID-XX the tests. test diagnostic worldwide a samples around accelerated launching the program began spread to by our to of developing new world, As companies virus the development team superior provide X to at cost

our States. because the The by our Australia, companies United now of assays reputation largest and are XX COVID-XX to being and used IVD want us in reagents Europe in and high-performance manufacturers quality developed China, over work with

team extraordinary, The demand has and been be for their commended should continued the

would on be we extraction] step, Last development the this In a only extraction the an [RNA the the team bypass launched battle. that efforts to supply. began week, to Life keep Science pace products of subsequent but saves and with eliminates this the in parallel, new dependence needed work and designed cost, phases contagion. time master have mix which insured retraction that also on for not kits (sic) need RNA the an research

recombinant COVID-XX products a has for And being major antibody manufacture antigens the series for recently, serology and play manufacturer of these role the globe. of supporting Demand viral the of assays. been will around millions necessary we in of run development we and launched a high, tests

Bioresearch the On To San deal ensure Diego, to more Syntron IgM our get to the assay imperatives. Diagnostics of test partnered tactical distribute detects serology this customers side, diligence, possible, our kits met blood. focused whole strategic U.S. our manufactured Designed we II on we great with disruption and human that identifying response in to our was shortest serum, limited time to antibodies QuikPac test. a much COVID-XX IgG plasma test to After their with coronavirus or standards. a in manufactured and performance

panel infectious operation simple begin disease small we Initial its ideal other X deliver testing The about to with the Québec revogene has COVID-XX simultaneously targets. In expect customer design respiratory the team has samples footprint, demand viral later revogene to results and on include of in in positive, to respiratory the shipments to addition is an XX been revised and this in for minutes. molecular, platform flu ability and month.

FDA XXXX follow-up of and the to the submission next for year we'll XXX(k) EUA respiratory the a time targets A/B/RSV plan this in with We the and see for the in XXXX XXXX, status for Flu and season. in COVID-XX for fiscal later time COVID-XX season, respiratory from target

everything course, coronavirus. has about not Of been

electrochemical position our development us sensor-based electrochemical robust for well working Billerica team Québec that pipelines centers growth. chemical Our immunoassays These built on for in sustainable -- technology and molecular long-term key chemistry. locations lateral -- are for blood Diagnostics diagnostics, blood Cincinnati and research based sensor has for flow

and innovations in sample tremendous the were clearance. we milestone in evaluating and and later also the integration. first simple Bioscience preparation improved interface couples platform workflow March, Consistent the with released Curian In of performance. is the quarter, user intuitive busy of these the as the it a platform, FDA Exalenz received of the the internally Curian revogene the for the an of developed acquisition analyzer years. preparing first products, This Early is and in transformation HpSA Meridian several product with assay

As that Thursday. Exalenz previously excited we closed last family. be not more transaction the have join to We announced, could Meridian

diagnostics centered illnesses. a vision disease pediatric by on reminder, gastrointestinal respiratory our point-of-care is for for and As testing bridged testing

cases, breath is force The started tests for to favor has clinicians. reimbursement the sensitivity the evidence on test testing This also serology leverage focus strength has we in and noninvasive and the to urea Meridian's the Meridian infection has will only to serology of not also stool in on infection. approaches of this antigen, grow offering other with endoscopy and U.S. pylori to procedures. to to approaches nonexistent. acquisition and diagnosis. stool but urea U.S. breath Exalenz to compared may There supports tests able an able company continued the some antigen only testing, share Not sales active lose face are X platform testing, market, accelerate accumulating from serology called both be topic, is GI. and U.S. testing we breath, innovative declined, be active H. leader Serology urea lower as have shift In testing as away can will BreathID. identify invasive

Exalenz our BreathID analyzer of incorporating team look created. building forward as into and that to has the assay We the the portfolio momentum

to quarter. call I talk about Now the over for Bryan the to hand financials the will

Bryan Baldsare

Jack. Thank you,

today, reported excellent up Meridian in we consolidated XX% second fiscal As second an of from revenues million earlier quarter $XX.X with had of quarter $XX.X million, the XXXX.

record record This revenue was revenue. rate quarterly of currency changes, up Excluding revenues for Life exchange the second fiscal XX%. were foreign by also impact with quarter, driven Science a

Gross Life and profit XX% in Diagnostics, expected the Science the the gross margin dramatic margin is an I discuss second reduction in This last in in quarter, up the of from segment year. a reviews. which will increase quarter further of blend in topped XX%

operating margin approximately $XX basis, $X.XX. were income basis, On EPS million, XX%. $XX.X and expenses up adjusted Adjusted year-over-year. an an million diluted was or adjusted net Also with million non-GAAP on was million $XX.X non-GAAP a of earnings second non-GAAP were operating $X.X quarter

prior million incentive year-over-year reflecting cash in approximately expenses at better comp, in the performance The this of operating to relative versus year. increase $X plan year stage the includes

clinical new accounting and from an an GenePOC $XXX,XXX purchase amortization in primarily spent approximately in we recognized and development increase the Additionally, of of million acquisition on XXXX. incremental R&D, the $X.X and trials fiscal third product of quarter

delays our in still $XX.X on with clinical expenses operating as operating our lower in primarily open by $XX.X pandemic GAAP development well operating basis, On million. filling million, were the was COVID-XX positions. expenses the spending, driven increase of in deceleration year-over-year than resulting product from expectations, trials Despite income as spending a the and

GenePOC, reduction impacted acquisition-related net partially and operating expense drivers, aforementioned increase operating $X.X the an GAAP the a acquisition by for EPS were of diluted to consideration addition expenses. by million contingent $X.XX. obligation was year-over-year a expenses In and offset GAAP earnings in were GAAP

partially into X the was constant a of basis, declines by time This to Diagnostics, In products, And about specifics growth. gastrointestinal. were revenues offset On X%. currency in up our in million, about we year-over-year for like up $XX.X I'd the drill outperformance X our driven X%. Now respiratory first quarters, operating saw of were sectors. revenues by growth the

was demand we Towards see diagnosis same testing stabilization continued the At our testing. business, the tests for of for end quarter. molecular for for further Of respiratory symptoms. demand the the increased their COVID-XX time, people growth from quarter, posting note sought of benefited nonurgent for to as negative we our reduced the modest started

expectations. approximately by for pressure year, driven the with higher-margin our H. but products. XX%, pylori was down our quarter The in mix and Gross same the was year-over-year decrease continued line profit pricing last primarily segment on product margin from

on consistent development XX%. $X.X an well segment hiring. to The spending in approximately that was our expectations margin due with as million as decreased of delays clinical year-over-year plan product trials our and exceeded a in income operating is Diagnostics basis lower-than-expected the margin with for adjusted

trials much U.S. stalled businesses. clinical on the of and nonessential ceased development for related as operations product Progress

fill. have also few slower of organization We the vacancies been has the to a functions that across

related as basis, estimate revenues year-over-year approximately manufacturing quarterly the COVID-XX, products top million, non-COVID was result the from million. COVID-XX our sales history constant revenue the up about Ordering of customers revenue the Our reagents, quarter. the of Life with XX% in segment patterns increased the Science IVD of pandemic normal the driven We This highest that $XX.X by or returned a $X.X outperformance segment. on as our performed for pandemic. XX% delivered was a of for business generally currency planned. primarily to delivering Outside molecular

from is year. they will shortfall during QX remainder it up all However, the of the not make clear of if the

of cost X,XXX expected the not demand, improvement meet order to batch gross saw basis a addition to were linear increase points require revenue, to in which up over dramatic margin profit sizes outperformance goods. does In a XX%. In increased, on

the XX% income in operating million, as a result of gross strong a more the Adjusted margin than and doubled of to quarter margins. revenue $XX.X unprecedented

balance of One our to continues our sheet. strengths be

During million capacity the Exalenz line quarter, on the Bioscience. with conjunction increased of in the our credit to our acquisition $XXX announcement of of we

borrowing under the our April, As million the of drew in million of line March end million. we fund of to borrowing of XX, acquisition, had $XXX $XX of the quarter, to cash approximately capacity of $XX we million as have an end capacity $XX.X Subsequent of approximately additional the and and credit.

Now turning guidance. to our

year-to-date fiscal well expectations. performance was above Our our

science are between for our in led our Based raising year. last are EPS we continue expect COVID-XX to of we net consolidated revenue for the $XXX our line We with related unprecedented the revenue million Despite and slightly from full we seeing $XXX at the care for first for already than the the uncertainty, year. reduction the are COVID-XX for We half XXXX related recently now launched. significant this life our that diluted million. The for guidance in for our demand nonurgent diagnostics to demand global to business. demand original Life temporary be more we pandemic adjusted this strong and compensating Science guidance tests range expect dynamic, immunoassay pandemic ahead and delivered the performance business of turmoil product end upper molecular year's on fiscal and has products,

taper sales COVID-XX million full of fiscal in with million in $XX assumes sales This peaking the for related of for quarter. $XX guidance million $XXX our $XXX the to Life fourth to revenue in third our range year. million results second Our a Science in beginning quarter half to and

increasing same throughout last headwinds March the the our Diagnostics in business. few weeks of non-respiratory we time, saw and At April, on

contribution third mix modest that uncertainty margins XX% second As we complicated Science, sales quarter, tests lower for our to and and between with partially offset see of for this reduction now impact year. This The from the revenue COVID-XX between and expect a by for million fourth volumes our same in higher in expect was trend, to softness mentioned assumes by reduction to Diagnostics. for serology result quarter. the a of Diagnostics the $XXX demand a the of the This be of But volumes the segments products a million XX% full $XXX margin. business gross earlier. profit for Exalenz acquisition in offset Jack with the forecast margins you quarter on revenue Life dynamics in should for recovery

XX% from on We expenses EPS development comp to from on and of $X.XX. clinical Exalenz development, trials XX%, and the clinical our plan. by expect lower still while diluted and relative outperformance trials offset of this incentive adjusted $X.XX cash and acquisition This operating incremental product and the between shelter-in-place includes orders expense adjusted operating margin product of increased includes spending remain -- the to spending

guidance Importantly, market reflects our the duration assumptions the conditions into impact this for products pandemic. this visibility our extent current of and current from about our and

that world care begin normal and return relax diagnostic the expect operations to local respect orders our infectious systems for throughout governments and to will the with to diseases visibility improve chemistry. testing quarter, around We blood as health shelter-in-place

the We will evolves. as situation updated keep you

back And thoughts. to some Jack call now final I to hand over will the offer

Jack Kenny

Bryan. Thanks,

clear we is are are of We becoming strange in value And certainly that every global we day. at while the Meridian times. is there uncertainty, more building what think

revenue to the internally the pylori execute assay we Combine is the goal strategies platform, and we trusted new to of bring analyzer with H. solidifying its our advancing needed. of towards businesses the and investing team gastrointestinal where of We testing leadership partner Curian earnings and many HpSA growth in in while our products also are systems' our sustainable and coming our disease health our journey in continue The the along first to being plan the market years. addition new for Exalenz testing. BreathID developed

molecular us throughput led The molecular capabilities. business our and for has platform delivers revogene to prep, sample that simple of technology high cutting-edge and stabilization the growth multiplexing with repositions

the Science XX. reagents Yet of to We Life LeadCare crises the demand. have with half to around dynamics next are the to companies rapidly with to XXXX. health respond of highlighted and growth the partnerships has we volumes were to one will its business the in diagnostic our antigens meet door expand materials global has respond ability we of returned demonstrated generation, that critical first Our confident continue to to in globe. our With and in that open care. The investment the and the point Meridian of pandemic of first this future pediatric COVID again, quality

fight effective at strategy We continue XX the to that Meridian. on contributing global to time, out we of focused the the ago, stay while months laid against most assets with same the pandemic this

time Meridian one the of dedication future the our team and of company. in as about a proud very energized I'm this challenging

to I that answer Now may here any guys have. questions are you Bryan and

Operator

from Andrew Brackmann [Operator Instructions] first of question the Blair. with comes William Our line

Andrew Brackmann

your forward, I So moving how should much half really how should you chain assumptions? infrastructure thinking Jack, up of to year? respect the of then maybe color in not you're be you provide manufacturing about guys supply products here can there on And to the these on here. the for a did and more these bit current Sciences the build demand? you deliver be this back with to guess, COVID-XX to capacity, a the we Life expecting want impact I more of surprise start side.

Jack Kenny

me. start certainly on can you I'll Bryan, and this, wrap So around

-- there, put in in our out mentioned we demand. we very seen Bryan guidance have that the very, as strong So

the think was molecular going I the in you for the testing testing demand the product of that will, peak, if was on. kind first --

So we growth in QX, in and started see continues to that that QX.

tried front people as pretty have we on to the orders for the test good molecular the secure coming have So visibility months. to

on at as levels into away that go start continues same not but What We've know. on get being it's There's have these in if antibody now the to determine increased the to we see to side. exposed able we people about lot demand that out to to starting of a the and tests to anticipated beyond. that there immunoassay QX QX, taper, we're been going virus. Whether is will be talk don't

demand that to the news all on not location. the working for we aggressively the would the have. that is capacity that and one in Life doing good part just And say, are those Lourdes been expand great. of products this, Science is side And capacity team we have Andrew, her to is I this, the

ramping in been continues. ramp amazing a facility and Germany have molecular -- the to job up in that and doing We of production, Germany our an lot in up

very versus nice side, with that at challenging, are we've We job. been States. with United a in We more products out that's tests done what And expanded that certainly it's the now we've have new there. other our the those the able multiple where point a the out and getting were And the main capabilities are approaching but fold large -- coming primarily immunoassay batches. to this are we're demand meet point, made

a facility. they're different so And at

go very in QX if that, and tell strong for you, in will, continue and volume what guidance. capabilities our and kind we overwhelming we QX it really on anticipate into facility, of of forward, that's any put production as risk, that are our So testing that. I We will right ramp so we demand now. you that ramping reduces front up is will

a So we've done very job. nice

The a we and do vulnerabilities, products really together Science suppliers and into that reliant have not leadership from components of chain. Life to so discuss where are we team in really on processes those. manage for we basis to China, have that amounts have not significant supply we put in minimized key We business. frequent is our components we We place make upon the Chinese our purchase getting

we are you and how we So positioned explore continuing this. feel can up where support we to to continue anything? capacity. well to And opportunities from add want to do ramp we're Bryan,

Bryan Baldsare

Andrew, get we there. around assumptions the add are of we guidance that that into commented raised today. would Jack's better I our based end will, on start are earlier, Very to can that pandemic, visibility as conditions we important you have come if comments articulating we I Sure. the And just market as tail of if the update the accordingly. -- improved to out visibility, you we'll as as pandemic you expect, the

Andrew Brackmann

Got sticking the you to on the I we think can second. a come where here, for that it. competitive had I maybe business? position moving here And previously And this, guess speaking is you that then of Sciences time guess, going the broadly strengthen now? talk Life just pandemic, side as that's about how before you evolve then over your to forward, guys out

Jack Kenny

Absolutely.

couple of So things. a

As an part part our you immunoassay have know, a business our we molecular of Life our business. of business, and in Science

business part been immunoassay into for manufacturers XX, the IVD the has selling of Our years. XX

have diagnostic some We for strong with largest immunoassay the testing. very companies longstanding, relationships very, of

for they're And and is them so doors us those opening the our that are molecular us projects with to we to if to pivoted for business. at that, you of types would believe months the repositioned to as is that Those ago. we partner certainly customers and need, Because for that The continuing molecular XX We the area. remember, exciting levels, in ability coronavirus, continue occur. work and high describe strategy, business positions develop. our part -- will I working with them on actively in

used we supplies nature. sell it Triangle and facilities, to research Moving tests of go research Park through and antibodies primarily into -- to them to build and sell key walk away things and from that

manufacturers COVID their quick this it it the a need they that to pivoted done globe in now and around situation response are XX this COVID-XX What we is have number IVD the and on us our the situation, energy We door manufacturers focused of for evidenced by opened were of molecular for of tests. manufacturers molecular. in a inside has

to also release a one talked I saw, days a in about few we of but ago, out partners molecular that a that partnership develop if to from our noted work went that that standpoint. Andrew, on portfolios work a they see towards COVID-XX, as had we this for essentially them last would they you their press the that led has with QuantuMDx the week, clearly us continue

appropriately this So we during we what year? to going be company and we with months? Is prepare is to mind. firmly position them partner and going long it believe in that trying certainly bring. in of be in going states do. the and diagnostic honestly Is we're of have this to us that no companies. know, every assure a believe are first that, to the market, few that run to critical don't bring truly diagnostic these a I that's we a idea to But respond is We you pandemic, that Because a will forward. products none in to help do good can position going that companies

Andrew Brackmann

just have you just -- it. answer of your is maybe this more total But just anticipation of minute, capacity? And at are Diagnostics. one Life sure percentage in demand? Or respect and is you What of demand that sort Sciences ramp facilities of of a with you going give begin current capacity correct. current make that, a as guys Got ramp the sort side maybe seeing a to future well? capacity for as a And output? switching to your to that sort running are then we those Can that quantitative want on what to to more for to before bit I the little back last then

Jack Kenny

you more I directional business QX the performance X-liter higher And batches a XX-liter molecular molecular but -- would batch. So example that you're this batches know I've feedback. be a much material saw making make or I in you can like those don't We're quantities, the got in you might batch and What up. to I was exact X-liter starting the now. vial-ready percentages, making ramp give think

the is But that on we as capacity into QX. we've forward significantly expanding batch the go other to that has which increased meet end the keeping obviously enabled which then demand then and our key at we've people key to done, of the here So us that to front. size, this is QX the And healthy.

in they're of to to to around fight because to products thing that be take we the also in addition globe. important that to are to to position to make care So our a pandemic these sure wanting that's employees want right do, be the make come to work able able so the to

So I capacity are that at from wouldn't fully Germany, a capacity. we standpoint say in

to finding would I are to molecular continue capacity, getting the that closer are say, we more. high front. in ways point We ways to make But of

that are well. we On scaling sizes this up And anticipate the making recombinant that that approaching we based would percentage. immunoassay demand QX reach XXX% these from that antigens. building as immunoassay the in front, being side, later a the quarter, increased in as seeing. I Batch on lower we're may are also capacity on describe

Bryan Baldsare

to And manufacturing capacity just to but range have this, there to add the guidance not that I'm put above Yes. going Jack out there. is what Andrew, saying, we quantify

Andrew Brackmann

But sort you as in a on I perfect. about That's more about of is this as level you volumes minute. sort the think not bottom patient to maybe comfort sort here the maybe of here seen Jack, dependent diagnostics of turnaround new of talked environment, whether talk And recognize for of normalized that about your that comes and of we've Okay. in back. outlook guess, then curve you've to when a regular sort the can here? or I testing switching

Jack Kenny

came glad January So coronavirus, about Nobody We we coronavirus about right? about had and into that, QX, idea Andrew. to X. no talk talking was on

Diagnostics, will. be occur And in delivering. would QX Diagnostic the QX quarter. very a thought what we had I would believe was QX that to also return our with describe growth calm we position firmly if and business, performance so quarter, to in coming into line in is you exactly in We a our we

it Our Diagnostic the anticipated than we some business was delivered Diagnostics down, and stuff but actually was stuff saw as the happen, we And up, as went of and better blew respiratory COVID stuff predictable even had in ultimately, we other expected. more QX. delivering

think Now be massively that affected we of And are everybody, nobody the coming for going out starting change. the curve. We obviously, that we the QX But that start back see momentum we is and on impact is U. you firmly things, is to can we believe are tell path I our business. growth. as to will doctor But noncritical going know that bottom to coronavirus that for that that to of impact how we're going don't gaining care in of Diagnostic

the prospect that think we're And our about now. Diagnostic we and we're to return with for about we excited up so in equally really business. offensive We to over the haven't It about a happened we've to the coming what a Life positive impact. months The But R&D. would business even products, pay be from clinical it's now, And Science, nice and made start from can significant gotten going will, make excited slowed years. a of you been if R&D have been investment the point X will little have year off really bit. about a the trials

come And opportunity Exalenz. huge as Exalenz hitting we new next there's us with then year. into So market we for anticipate the addition, the products

nice for that this Andrew, a beginning we very business, a that run Diagnostic is business. of our excited think about are we and So

Andrew Brackmann

then Diagnostics of last Great. just Great. on sort COVID-specific products. And the couple,

there? but product for market, First, on the are as RP said, bringing that panel, but that also some for sort of the guys your you assays the a hurdles have the to to what maybe recognize then And side, the instruments Life on that Sciences on only capacity of panel, are what the what's the technical question front, the RP some similar key remain of there? not of manufacture, timing capacity sort hurdles

Jack Kenny

Yes.

start bit So with little the capacity. let a me

right reason that still test. up -- go didn't that, been And immediately part we ramping the of capacity. onto do of our the was do COVID not out put didn't we So have the Andrew, We we why after the chute. did our

XXX it instruments to COVID right weren't If market instruments you situation. limited a the go able market, have and to now. go of you we with are support in still deliver give of And good. that be it the number doesn't make instruments make you in a go the a of to about position test And to can't a we hundreds lot out

slowed design, by we, that So up.

know have respiratory However, in when be This approach, Even goes that future. be around if it's panel important a us the virus and marker a in no with we be to over in to were with panel. very going need you to looking away COVID time, the your us. the way respiratory this going that. we overall is assay There's at

do There's and risk the development we COVID you also work on say So -- I have a that a always platform, you bit product, scientist. that give we little working that of the want in midst would have obviously standpoint, a although from a we developmental to on believe that have just with I hurdle the we of the are assay. robust perspective. the doing stronger

situation. a the is in So we think that minimal that, here risk

try a believe to also test, coming bit build that sure EUA a we our later We to going test. we're with little could that make good

fall, the test very out that we really we we well. And want quick. have the rush people to in when take can so performing make that we time Some come is sure a

to EUA the you that environment what the do clinical do level work an you all same would later. is in don't Now trial

for with the like some in some on of we're going submitting the site build ability to later an we'll test clinical PIEs goal do the do also season, summer. to participate more in a great fall. that the to time upfront to and So alpha by this And more summer have in the test, get EUA work then make instruments to work we

in what of has PIE to -- towards our put be you I that is, remember appropriately test -- want which the for And the going is Flu we'll our will will The FDA, X, midst position Flu in It's be going to FDA. A/B/RSV our do COVID customers. we'll A/B/RSV with clinicals in is if we've doing it of we're in hidden different Andrew, A/B/RSV in the well work be be have, the talked so right kit. and and So the to the wells, is believe it move in the well then that mask, intent with we the be The doing is going X. COVID. the just respond RSV, to will Flu to to even way to in

so we So get them we into we're flu next those season. can this those can developing moving, in both both of clinicals keep so

the we're ready So in panel. future that that for go to -- for larger

So hopefully, on little that gives perspective that. you a

Andrew Brackmann

to my before I second moving is say right. Yes. that installed of revogene? that's That's question, what on if great. you did Just What as want the just for number heard correct. sure base, And wonder the just make I base installed was

Jack Kenny

are I believe where are there yes. XXX is now, systems right we

Andrew Brackmann

the and forward? lot of might stack comments that's serology on sort up And of I assay, just on how you product last then talk performance that that the about of news these. the And guess product. demand FDA that on new Perfect, then for moving with a there's guidance there. any been maybe sort one of Obviously, out Can perfect.

Jack Kenny

Yes. It's Andrew. Absolutely, fair.

So down. We we're a tightening couple the -- is things. things that of excited completely FDA

think never a market. have of of that these types to you've people lot before coming made tests seen I

happen. of company that test you assure it can is out And make in consistently there's ability a story maybe the the people and different it. and making it work a actually in a these your high it the I Now there to make that and a lot original tests, having doing can lab, to out lab altogether. that production makes field in in it making as work,

So these going to take there, were we out tests. to were we when different had, the of ourselves we other not and making knew out of that because this projects on we internally we searching companies were talked number a that and were

specimens things impressed they had us the they that with over in that clinical done. trial the was work about that had their of Syntron we One worked XXX --

you sample over So the at that for XXX. look shows insert package data size basically a if the in that's of them,

accurate. -- being better the the doing chance when better going the you're chance so the study, the larger of study, performance And to the have you're

lateral believe know and of be we versus be So what between the test also test. a to that going to difference that test performance the we molecular flow difference. There was believable is

the is performance a characteristic characteristic. saw different we have performance looked more And You based on what appropriate.

to made Now it have to done, thing way work has we're it bit it's good work through view the go and I'd we process. going like biggest test, we to it companies test because positive just get be, completed to through are process get there. a to out slower Syntron the that a need the originally we can FDA companies as still have the make this to this that little so the still anxious than working it with right for a but their can't weed them, and like say looked they out we was do

to We interest with coexist that they is and we have started the will product lab-based Customer is our selling customers. this high. there, demand antibody The believe test.

you it send tell to also the at But where do to test to to antibody test you might draw rapid there. run are able out the feel some a and be that blood finger there's large on of So systems stick lab want need a an times use to into core a and immunoassay quicker. may

have So a they we think both position.

quick test. company we good immunoassays, we good product. certainly is It everything flow product, our time the we -- that that a in best high-volume position but can't build to frame in have speak a the position, and builds this that in lateral is a So confidence these think they're about

Operator

back remarks. [Operator over it at time. there Instructions] no will closing speakers And to questions turn our are this I for further

Jack Kenny

just forward we a forward delivering we're go as we time of look you that our first we we a can appreciate shareholders. believe in performance world of do the coronavirus all, about great pandemic. if with show So -- closing, can the we do position the excited the to this within company need world great for a the time global in go tell, of We quarter. to We support We what as as forward. and that we're also in in had helping

and you you to much talking appreciate joining, and you for to you. to we look talking thank Thank very forward all So soon.

Operator

and gentlemen. thank call. ladies conference participation you conclude We you ask does you, for that please That your and today's Thank disconnect lines. your

Meridian Bioscience (VIVO) 9 May 202020 Q2 Earnings call transcript