News Release

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January 5, 2011 at 4:02 PM EST

Quidel Announces Proposed Common Shares Offering

SAN DIEGO, Jan 05, 2011 (BUSINESS WIRE) -- Quidel Corporation (NASDAQ: QDEL) announced today a proposed underwritten public offering by the Company of 4,000,000 common shares, subject to market and other conditions. The Company also intends to grant the underwriter a 30-day option to purchase up to an additional 600,000 common shares solely to cover over-allotments. The Company expects to use the net proceeds of the proposed offering for working capital and other general corporate purposes, which may potentially include the acquisition or development of new technology, the acquisition of diagnostic or related companies, products or businesses or the repayment of existing indebtedness.

J.P. Morgan Securities LLC is acting as sole book-running manager for the proposed offering.

The securities are being offered by the Company pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), and declared effective on September 9, 2010. A preliminary prospectus supplement related to the offering will be filed with the SEC and once filed will be available on the SEC's website located at www.sec.gov. Before you invest in the Company's common shares, you should read the prospectus in the registration statement (including the prospectus supplement when available) and other documents the Company has filed with the SEC for more complete information about the Company and this offering. Copies of the prospectus and the related prospectus supplement can also be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

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 leading brand names QuickVue(R), D3(R) Direct Detection and Thyretain(TM), Quidel's products aid in the detection and diagnosis of many critical diseases and conditions, including influenza, respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel's research and development engine is also developing a continuum of diagnostic solutions from advanced lateral-flow and direct fluorescent antibody to molecular diagnostic tests to further improve the quality of healthcare in physicians' offices and hospital and reference laboratories.

Safe Harbor

This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risk and uncertainties, including, but not limited to statements regarding the proposed offering and the intended use of the net proceeds from the proposed offering. Many possible events or factors could cause our actual results to differ materially from those that may be described or implied in the forward-looking statements. As such, no forward-looking statement can be guaranteed. There can be no assurance that the proposed offering will be completed on the terms described above, or at all. Differences in actual results may arise as a result of a number of factors including, without limitation, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering, and other risk factors discussed in the Company's Form 10-Q for the quarter ended September 30, 2010 and other documents filed by the Company with the SEC from time to time. 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. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements, except as required by law.

SOURCE: Quidel Corporation

Quidel Contact:
Quidel Corporation
John M. Radak, Chief Financial Officer
Media and Investors Contact:
Quidel Corporation
Ruben Argueta