Chembio Diagnostics Reports Fourth Quarter and Full Year 2018 Financial Results
Chembio Diagnostics, Inc. (CEMI)
Last chembio diagnostics, inc. earnings: 3/12 04:07 pm
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US:NASDAQ Investor Relations:
chembio.com/investors/investor-relations
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Source: GlobeNewswire
MEDFORD, N.Y., March 07, 2019 (GLOBE NEWSWIRE) -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today reported financial results for the fourth quarter and year ended December 31, 2018. Recent Accomplishments & Highlights Achieved total revenue of $7.6 million for the fourth quarter of 2018 and $33.4 million for the full year 2018, increases of 27% and 39% respectively, over prior yearIntroduced 5-year targets of $100 million in revenue by 2023 and 50% gross margins by year end 2023Acquired opTricon GmbH, the developer and manufacturer of the DPP® Micro ReaderReceived CE mark for DPP® eosinophilic respiratory disease test developed in collaboration with AstraZenecaReceived U.S. FDA Emergency Use Authorization for DPP® Ebola test and DPP® Micro ReaderObtained $10.5 million 2019 commitment from Bio-Manguinhos for production of DPP® Assays in BrazilCompleted public offering of common stock raising $16.5 million i
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