Quidel Corporation (NASDAQ: QDEL) ("Quidel”), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced today that Quidel has completed its investigation regarding a report of discordant results (False Positives) at a testing location in Vermont, and found no testing site- or product-related issues with the Sofia® 2 instrument or the Sofia® SARS Antigen FIA.
Quidel received a complaint in Vermont regarding false positive discrepant results among patients who were subsequently tested and found negative by PCR testing. Taking every complaint submission seriously, Quidel promptly entered the complaint into its Quality Management System and worked with the testing site to identify a potential root cause.
Quidel examined the complaint thoroughly, including an inspection of the testing site, analysis of the site’s data, and a review of approximately 110,000 data points generated at 526 sites in 33 other states currently using Quidel’s product. The investigation found that there were no issues with either the testing facility or with the quality of the Sofia products used. The results of the investigation determined that no further actions were necessary, and results were provided to the Vermont Department of Health, the Centers for Disease Control and Prevention, and the U.S. Food and Drug Administration.
"Quidel takes every complaint seriously and endeavors to identify the root cause of any complaint received,” said Douglas Bryant, president and CEO of Quidel Corporation. "We conducted a very thorough investigation for this unique complaint in Vermont and believe that it was highly likely that our Sofia® results were true positives and that the subsequent PCR method used to re-test was at risk of providing inaccurate results.”
Quidel currently sells the Sofia® SARS Antigen FIA in the United States under Emergency Use Authorization (EUA) by the FDA.
About Quidel Corporation
Quidel Corporation serves to enhance the health and well-being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system. Marketed under the Sofia®, QuickVue®, D3® Direct Detection, Thyretain®, Triage® and InflammaDry® leading brand names, as well as under the new Solana®, AmpliVue® and Lyra® molecular diagnostic brands, Quidel’s products aid in the detection and diagnosis of many critical diseases and conditions, including, among others, COVID-19, influenza, respiratory syncytial virus, Strep A, lyme, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel's Triage® system of tests comprises a comprehensive test menu that provides rapid, cost-effective treatment decisions at the point-of-care (POC), offering a diverse immunoassay menu in a variety of tests to provide diagnostic answers for quantitative BNP, CK-MB, d-dimer, myoglobin, troponin I and qualitative TOX Drug Screen. Quidel’s research and development engine is also developing a continuum of diagnostic solutions from advanced immunoassay to molecular diagnostic tests to further improve the quality of healthcare in physicians’ offices and hospital and reference laboratories. For more information about Quidel’s comprehensive product portfolio and to explore exciting employment opportunities, visit quidel.com.
This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actual results and performance may differ materially from those that may be described or implied in the forward-looking statements. As such, no forward-looking statement can be guaranteed. 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changes in tax rates and exposure to additional tax liabilities or assessments; risks relating to our acquisition and integration of the Triage MeterPro Cardiovascular and toxicology business and B-type Naturietic Peptide assay business (the "Triage and BNP Businesses”); that we may have to write off goodwill relating to our acquisitions; our ability to manage our growth strategy and identify and integrate acquired companies or technologies and our ability to obtain financing; the level of our indebtedness and deferred payment obligations; our ability to generate sufficient cash to meet our debt service and deferred and contingent payment obligations; that our Revolving Credit Facility is secured by substantially all of our assets; the agreements for our indebtedness place operating and financial restrictions on us and our ability to operate our business; that an event of default could trigger acceleration of our outstanding indebtedness; that we may incur additional indebtedness; increases in interest rate relating to our variable rate debt; dilution resulting from future sales of our equity; volatility in our stock price; provisions in our charter documents, Delaware law and the indenture governing our Convertible Senior Notes that might delay or impede stockholder actions with respect to business combinations or similar transactions; our intention of not paying dividends; and our ability to identify and successfully acquire and integrate potential acquisition targets. Forward-looking statements typically are identified by the use of terms such as "may,” "will,” "should,” "might,” "expect,” "anticipate,” "estimate,” "plan,” "intend,” "goal,” "project,” "strategy,” "future,” and similar words, although some forward-looking statements are expressed differently. The risks described in reports and registration statements that we file with the Securities and Exchange Commission (the "SEC”) from time to time, should be carefully considered. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date of this press release. Except as required by law, we undertake no obligation to publicly release the results of any revision or update of these forward-looking statements, whether as a result of new information, future events or otherwise.
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Approximately seven new BTC whales have joined the network in the past two weeks.
The spike in buying pressure may soon be reflected in prices as Bitcoin holds above the critical support level
If so, the next areas of resistance to watch are the $11,200 and $12,000.
Bitcoin (BTC) continues consolidating within a narrow trading range without providing a clear path for where it is headed next. Despite the uncertainty around it, different on-chain metrics suggest that large investors are choosing to buy Bitcoin evermore increasing their positions.
BTC whales “buy the dip”
After failing to turn the $12,000 resistance level into support, the flagship cryptocurrency went through a steep correction that took place at the beginning of the month. Bitcoin dropped by nearly 19% from a high of $12,086 to a low $9,800. The downward price action caused a state of commotion among market participants, while large investors took advantage of it to add more tokens to their holdings.
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Indeed, Santiment’s holder distribution chart shows that as prices plummeted, the number of addresses with billions of dollars in Bitcoin, known within the crypto community as “whales,” was increasing exponentially. The behavioral analytics firm recorded a 6.74% spike in the number of addresses holding 10,000 to 100,000 BTC. Approximately seven new whales joined the network over the past two weeks.
Such an upswing in the number of BTC whales may seem insignificant at first glimpse. But when considering these large investors hold between $108 million and $1.08 billion in BTC, the upturn can translate into billions of dollars worth of buy orders.
If the buying spree by these whales continues, Bitcoin may have the ability to regain some of the lost ground throughout September and finally move past the $12,000 mark.
Technical analysis: Holding on top of critical support
The bullish thesis holds when looking at BTC’s 3-day chart. Within this timeframe, the pioneer cryptocurrency seems to be trading on top of a critical support barrier. Based on historical data, the 50-three-day moving average has been able to contain falling prices at bay during the bull market of 2010-2011, 2012-2014, and 2015-2018.
If history repeats itself, Bitcoin may be about to resume the uptrend following the recent rejection from this hurdle. But first, it would have to close above mid-September’s high of $11,200 and turn the $12,000 resistance into support. Once these barriers have been broken, it is reasonable to assume that BTC would likely take aim at June 2019’s high of nearly $14,000.
Chart by https://www.tradingview.com/x/S4Nh8aUg/
It is worth mentioning that a candlestick close below the 50-three-day moving average, which is currently hovering around $10,100, could jeopardize the bullish outlook. If this were to happen, the bellwether cryptocurrency may plummet towards the 100-three-day moving average. This support level sits around $9,150.
On the cusp of a major price movement
Data shows that over the past few hours an important number of idle BTC coins have exchanged hands. Usually, when old tokens are transferred between different addresses, a major price movement tends to follow. Given the increasing buying pressure behind Bitcoin, this could be taken as a positive sign.
Nevertheless, it is recommended to sit on the sidelines until a clear break of the resistance or support levels previously mentioned. Now that Bitcoin seems to be on the cusp of its next bullish cycle, having cash ready to deploy is a must.
HALLANDALE BEACH, Fla., Oct. 22, 2020 /PRNewswire/ -- 1/ST announced today the appointment of Aidan Butler to Chief Operating Officer, 1/ST RACING and to President, 1/ST CONTENT. Butler joined The Stronach Group in 2018 and has been front and center in California leading the racing operations teams at Santa Anita Park and Golden Gate Fields as the Acting Executive Director of California Racing Operations. In addition, he also served as Chief Strategy Officer for The Stronach Group.
Butler will work directly with Craig Fravel, Chief Executive Officer, 1/ST RACING, to further develop the company's world-class racing programs and national content offerings. While continuing to oversee racing operations nationally, Fravel will focus on West Coast operations while Butler will relocate to Florida to oversee the racing operations at the company's owned tracks and training centers on the East Coast including Gulfstream Park and Palm Meadows in Florida and Laurel Park, Pimlico Race Course and Rosecroft Raceway in Maryland.
Butler will also take on responsibilities to further develop and align the company's North American and international content businesses including, Monarch Content Management, Elite, GWS and XBTV as President of the newly formed 1/ST CONTENT division.
"Aidan and I have been working side-by-side over the last year and have developed a strong and constructive working relationship," said Fravel. "The appointment of Aidan to Chief Operating Officer, 1/ST RACING and President, 1/ST CONTENT, is a critical step as we continue to build our company's forward-thinking and innovative racing and content programs. I have no doubt that his passion and knowledge for our sport will position our national and East Coast operations for growth."
"I look forward to working with Craig and the 1/ST RACING teams in Florida and Maryland to synchronize our racing programs and to establishing the 1/ST CONTENT division as the future of content platforms for our sport," said Butler. "While I focus on the East Coast racing operations, I will continue to assist with matters in California and to work closely with horsemen in the state."
During a transformative time in horseracing, Butler was responsible for the implementation of industry-leading health and safety protocols for horses and riders at Santa Anita Park while overseeing track management and operations at the company's West Coast venues. In addition, Butler was responsible for the development of key stakeholder and strategic relationships and most recently for leading Santa Anita Park successfully through the early stages of the COVID-19 pandemic. Under his leadership, within days of the original coronavirus lockdown, he brought the horseracing community at Santa Anita Park together to form North America's first sports bubble. This self-contained ecosystem allowed hundreds of backstretch workers, jockeys and essential racing personnel to keep the horses safe and active while protecting themselves, their livelihoods and the community. This ecosystem has since been replicated by many other professional sports leagues including the National Basketball Association (NBA) and the National Hockey League (NHL). "Riders Up" the documentary that showcases how Butler and the team at Santa Anita Park made this happen premiered on NBCSN in the leadup to Preakness 145 and is currently viewable at www.santaanita.com.
For more information on 1/ST please visit www.1st.com or @1/STRacing.
About The Stronach Group and 1/ST
The Stronach Group is a world-class technology, entertainment and real estate development company with Thoroughbred horseracing and pari-mutuel wagering at the core. The company's consumer facing brand 1/ST (pronounced "First") powers The Stronach Group's forward-thinking 1/ST RACING, 1/ST CONTENT, 1/ST TECHNOLOGY, 1/ST LIVE and 1/ST PROPERTIES businesses, while advocating for and driving the 1/ST HORSE CARE mission. 1/ST represents The Stronach Group's continued movement toward redefining Thoroughbred racing and the ecosystem that drives it. 1/ST RACING drives the best-in-class horseracing operations at the company's premier racetracks and training centers including: Santa Anita Park, Golden Gate Fields and San Luis Rey (California); Gulfstream Park – home of the Pegasus World Cup Championship Invitational Series, and Gulfstream Park West (Florida); the Maryland Jockey Club at Laurel Park, Pimlico Race Course - home of the legendary Preakness Stakes, Rosecroft Raceway and Bowie Training Center (Maryland). 1/ST CONTENT is the newly formed operating group for all of 1/ST's media and content companies including: Monarch Content Management, Elite, GWS and XBTV. 1/ST TECHNOLOGY is horseracing's largest racing and gaming technology company offering world-class products via its AmTote, Xpressbet, 1/ST BET, XB SELECT, XB NET, PariMAX and Betmix brands. 1/ST LIVE blends the worlds of sports, entertainment and hospitality by delivering uniquely curated events such as InfieldFest and Pegasus LIV Stretch Village. 1/ST PROPERTIES is responsible for the development of the company's live, work and play communities surrounding its racing venues including: The Village at Gulfstream Park (Florida) and Paddock Pointe (Maryland). As the advocate for critical industry reforms and by making meaningful investments into aftercare programs for retired horses and jockeys, 1/ST HORSE CARE represents The Stronach Group's commitment to achieving the highest level of horse and rider care and safety standards in Thoroughbred horseracing on and off the track. For more information please visit www.1st.com.
Media Contact:Tiffani Steer, Vice President, Communications, 1/ST, firstname.lastname@example.org
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SOURCE 1/ST and The Stronach Group