EQNX::TICKER_START (NASDAQ:OSUR), EQNX::TICKER_END OraSure Technologies, Inc. (NASDAQ: OSUR), a global leader in point-of-care and home diagnostic testing and sample collection technologies, announced today its ongoing commitment to fight the hepatitis C epidemic. July 28 is commemorated around the globe each year as World Hepatitis Day. Organizations such as the World Health Organization (WHO) and the U.S. Centers for Disease Control (CDC) use this day as an opportunity to educate people about hepatitis infections.
For the second year in a row, OraSure is proud to collaborate with the Will Rodgers Liver Health Foundation in his efforts to teach people about liver disease. Founded by NASCAR driver Will Rodgers, OraSure sponsors the foundation's Race to End Hep C initiative, which gives individuals at select NASCAR events access to free Hepatitis C (HCV) testing, using the OraQuick HCV Rapid Antibody Test that provides results in 20 minutes. During 2021's Race to End Hep C efforts, 2.5 percent of the 351 people who were tested for HCV at racetracks nationwide had a positive result and were linked to care.
"Hepatitis C is a public health crisis in this country with increasing incidence nationwide. The true problems with combatting this terrible and burdensome disease are both access to care - given the disparities in our healthcare system - and awareness, with four in 10 individuals who have hepatitis C unaware of their infection status," said Lisa Nibauer, President of Diagnostics for OraSure Technologies. "Our partnership with the Will Rodgers Liver Health Foundation highlights the ability of simple-to-administer, low-cost tests to drive disease awareness and point people to appropriate care. This is a treatable disease, and early diagnosis can dramatically improve patient outcomes and lower costs for our healthcare system."
HCV is a viral infection that causes inflammation of the liver and can lead to liver cirrhosis, liver cancer, and liver failure. According to the CDC, about 2.4 million adults in the U.S. are living with HCV and about 40 percent do not know they have it. CDC recommends that everyone ages 18 and older get tested for HCV at least once in their lifetime.
To find a Race to End Hep C event near you, visit www.RaceToEndHepC.com.
About HCV and the OraQuick HCV Rapid Antibody Test
According to the CDC, HCV is the most common chronic blood-borne infection in the United States, with approximately 2.4 million people infected. It is estimated that one in 30 Baby Boomers (adults born between 1945 and 1965) have chronic Hepatitis C and about 40 percent of the people infected with HCV in the United States are unaware of their infection. The CDC, the U.S. Preventive Services Task Force (USPSTF), and the American Association for the Study of Liver Diseases (AASLD) have all issued guidance that recommends HCV testing for anyone over the age of 18, including all Baby Boomers.
The OraQuick HCV Rapid Antibody Test is the first and only FDA-approved and CLIA-waived point of care test for detection of HCV infection in at-risk individuals. The simple platform enables healthcare providers to deliver results in 20 minutes, using venipuncture or fingerstick blood.
About the Will Rodgers Liver Health Foundation
By uniting the healthcare industry, the Will Rodgers Liver Health Foundation (WRLHF) seeks to build awareness and provide education on liver disease, remove any barriers for treatment of liver diseases for targeted demographics, provide linkage to care in targeted communities, and eliminate negative stigma surrounding liver disease. The WRLHF fills a need for a national, far-reaching campaign, coupled with a true ambassador for liver health. The foundation focuses on consumable education for the public, provides on-site and in-the-field testing, and links patients with proper care. Additionally, the WRLHF stands to change the public's negative perception of liver disease and has a goal to positively change the conversation. For more information on the Will Rodgers Liver Health Foundation, visit www.liverhealth.foundation.
About OraSure Technologies
OraSure Technologies empowers the global community to improve health and wellness by providing access to accurate, essential information. OraSure, together with its wholly-owned subsidiaries, DNA Genotek, Diversigen, and Novosanis, provides its customers with end-to-end solutions that encompass tools, services and diagnostics. The OraSure family of companies is a leader in the development, manufacture, and distribution of rapid diagnostic tests, sample collection and stabilization devices, and molecular services solutions designed to discover and detect critical medical conditions. OraSure's portfolio of products is sold globally to clinical laboratories, hospitals, physician's offices, clinics, public health and community-based organizations, research institutions, government agencies, pharma, commercial entities and direct to consumers. For more information on OraSure Technologies, please visit www.orasure.com.
This press release contains certain forward-looking statements, including with respect to the Company's products, product development activities, regulatory submissions and authorizations and other matters. Forward-looking statements are not guarantees of future performance or results. Known and unknown factors that could cause actual performance or results to be materially different from those expressed or implied in these statements include, but are not limited to: risk that the Company's exploration of strategic alternatives may not result in any definitive transaction or enhance stockholder value and may create a distraction or uncertainty that may adversely affect operating results, business or investor perceptions; the diversion of management's attention from the Company's ongoing business and regular business responsibilities due to the Company's exploration of strategic alternatives; ability to resolve the Company's ongoing manufacturing challenges and satisfy customer demand; ability to market and sell products, whether through our internal, direct sales force or third parties; impact of significant customer concentration in the genomics business; failure of distributors or other customers to meet purchase forecasts, historic purchase levels or minimum purchase requirements for our products; ability to manufacture products in accordance with applicable specifications, performance standards and quality requirements; ability to obtain, and timing and cost of obtaining, necessary regulatory approvals for new products or new indications or applications for existing products; ability to comply with applicable regulatory requirements; ability to effectively resolve warning letters, audit observations and other findings or comments from the U.S. Food and Drug Administration ("FDA") or other regulators; the impact of the novel coronavirus ("COVID-19") pandemic on the Company's business and ability to successfully develop new products, validate the expanded use of existing collector products, receive necessary regulatory approvals and authorizations and commercialize such products for COVID-19 testing; changes in relationships, including disputes or disagreements, with strategic partners or other parties and reliance on strategic partners for the performance of critical activities under collaborative arrangements; ability to meet increased demand for the Company's products; impact of replacing distributors; inventory levels at distributors and other customers; ability of the Company to achieve its financial and strategic objectives and continue to increase its revenues, including the ability to expand international sales; impact of competitors, competing products and technology changes; reduction or deferral of public funding available to customers; competition from new or better technology or lower cost products; ability to develop, commercialize and market new products; market acceptance of oral fluid or urine testing, collection or other products; market acceptance and uptake of microbiome informatics, microbial genetics technology and related analytics services; changes in market acceptance of products based on product performance or other factors, including changes in testing guidelines, algorithms or other recommendations by the Centers for Disease Control and Prevention ("CDC") or other agencies; ability to fund research and development and other products and operations; ability to obtain and maintain new or existing product distribution channels; reliance on sole supply sources for critical products and components; availability of related products produced by third parties or products required for use of our products; impact of contracting with the U.S. government; impact of negative economic conditions; ability to maintain sustained profitability; ability to utilize net operating loss carry forwards or other deferred tax assets; volatility of the Company's stock price; uncertainty relating to patent protection and potential patent infringement claims; uncertainty and costs of litigation relating to patents and other intellectual property; availability of licenses to patents or other technology; ability to enter into international manufacturing agreements; obstacles to international marketing and manufacturing of products; ability to sell products internationally, including the impact of changes in international funding sources and testing algorithms; adverse movements in foreign currency exchange rates; loss or impairment of sources of capital; ability to attract and retain qualified personnel; exposure to product liability and other types of litigation; changes in international, federal or state laws and regulations; customer consolidations and inventory practices; equipment failures and ability to obtain needed raw materials and components; the impact of terrorist attacks and civil unrest; and general political, business and economic conditions. These and other factors that could affect our results are discussed more fully in our SEC filings, including our registration statements, Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q, and other filings with the SEC. Although forward-looking statements help to provide information about future prospects, readers should keep in mind that forward-looking statements may not be reliable. Readers are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are made as of the date of this press release and OraSure Technologies undertakes no duty to update these statements.
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