(RTTNews) - Shares of Meridian Bioscience, Inc. (VIVO) are surging more than 16% after reporting better-than-expected second-quarter preliminary revenue.
The Company expects second-quarter revenue to be approximately $57 million, compared to $50.2 million a year ago. The revenue growth was due to record sales in the Life Science segment on high demand for its molecular products, designed for the detection of RNA viruses such as SARS-CoV-2.
The company expects increase in revenue in the third quarter as the Covid-19 pandemic shows no signs of retreat.
VIVO stock has been on a growth trajectory with more than 60% gain in the last three weeks. Currently the stock is trading at $9.10.
Meridian Bioscience is is estimated to report earnings on May 5.
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