Stock To Watch: Meridian Bioscience (VIVO)

(RTTNews) - Meridian Bioscience Inc. (VIVO), a commercial-stage life science company developing innovative diagnostic products, is currently up 5.39% at $8.57.

In the first quarter ended December 31, 2019, net revenue was $47.4 million compared to $51.5 million in the year-ago quarter. On a GAAP basis, earnings totaled $0.07 per share for the first quarter of 2020, and adjusted earnings were $0.10 per share. This compared with GAAP earnings of $0.19 per share and adjusted earnings of $0.20 per share in the first quarter ended December 31, 2018.

The Q1 results were reported on February 7, 2020.

In January, the Company began shipping molecular Master Mixes to help Chinese IVD (in vitro diagnostic) manufacturing customers deliver coronavirus tests. The Company expects the demand for its products that support the development of diagnostic tests for coronavirus to grow amid the ongoing coronavirus crisis.

On February 19, 2020, Meridian entered into a definitive agreement to acquire Exalenz Bioscience for an implied transaction value of approximately $49 million. The acquisition adds Exalenz's flagship BreathID Breath Test Systems, a urea breath test platform for the detection of Helicobacter pylori, often associated with peptic ulcers and gastric cancer, to Meridian's portfolio.

VIVO has traded in a range of $7.25 to $17.71 in the last 1 year.