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Quidel Files to Register Common Stock Underlying Publicly Traded Warrants
SAN DIEGO, Feb. 4 /PRNewswire/ -- Quidel Corporation (Nasdaq: QDEL) announced today that it will be filing a (shelf) registration statement on Form S-3 covering the 950,000 shares of common stock underlying its outstanding publicly traded warrants, pursuant to the registration rights provisions of the Warrant Agreement.
Quidel is obligated to register these shares promptly after the average closing price of Quidel shares on the Nasdaq National Market is at least $6.50 per share for twenty consecutive days. The average price was met on January 21, 2000. The exercise price of the warrants is $7.50.
The warrants themselves were registered on Form 8-A in 1992 and are listed on the Nasdaq National Market under the symbol QDELW. The warrants expire by their terms on April 30, 2002.
QUIDEL Corporation discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women's health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. QUIDEL also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. QUIDEL's products are sold to health care professionals for use in physician's offices, clinical laboratories and pharmacies, and to consumers through organizations that provide private label, store brand products. These tests provide diagnostic information to enable rapid treatment and improve health outcomes, lower costs and increase patient satisfaction.
This press release contains forward-looking statements regarding Quidel, its stock price, and its future activities within the meaning of the federal securities laws. These forward-looking statements involve material risks and uncertainties. Many possible factors could affect the future results and performance of Quidel's products, such that actual results and performance may differ materially. If Quidel's products fail to perform as expected, or if there is lower consumer demand for these products than expected, Quidel's financial condition and operating results may be materially and adversely affected. Quidel's financial condition and operating results may also be materially and adversely affected by a number of factors, including, without limitation, seasonality, adverse changes in competitive and economic conditions, actions by the Company's distributors, manufacturing and production delays or difficulties and adverse actions or delays in product reviews by the FDA. Please see the discussion of these and other factors in Quidel's annual reports on Form 10-K and subsequent quarterly reports on Form 10-Q. For more information, please visit Quidel's web site at http://www.Quidel.com.
Charles J. Cashion, Chief Financial Officer, 858-552-7962,
or Margaret Kuhn, Director, Investor Relations, 858-646-8031,
both of Quidel Corporation