OraSure backs guidance as Citi helps calm 23andMe worries

|About: OraSure Technologies, Inc. (OSUR)|By:, SA News Editor

Shares of OraSure (OSUR +6%) rebound after Monday's big losses as Citi comes to the company's defense amid concerns that the FDA's warning to customer 23andMe could hit OSUR's top-line.

Citi reminds investors that 23andMe accounts for less than 5% of OSUR's revenue.

In response to the 23andMe controversy, OSUR is out reaffirming Q4 guidance: "This reaffirmation is being made after the company learned today that a customer of its molecular collection systems subsidiary, DNA Genotek, received a warning letter from the FDA," OSUR said.

Q4 outlook: Consolidated net income of $0.07-0.08/share on revenue of $27.5-28M. (PR)