OraSure picks Dr. Nancy Gagliano as chief govt; seek for `strategic alternate options' continues

BETHLEHEM, Pa. — OraSure Applied sciences Inc., the Bethlehem-based maker of diagnostic checks and specimen-collection gadgets, mentioned Tuesday its seek for “strategic alternate options” continues, and that the corporate has picked Dr. Nancy Gagliano as interim chief govt officer.

Gagliano has been a member of the corporate’s board since November. She is a doctor and has held senior posts at CVS Well being, in keeping with an OraSure assertion. She is going to take over as CEO on April 1, succeeding Stephen Tang. His departure from the corporate as of March 31 was introduced earlier.

“As she has demonstrated since becoming a member of the OraSure board, Nancy is an engaged and considerate chief,” Chairman Michael Celano mentioned in a press release. Gagliano has a medical diploma from Harvard Medical Faculty and levels from Northeastern College and Union School, in keeping with OraSure. She shouldn’t be a candidate for the everlasting CEO place, the corporate mentioned.

OraSure mentioned Jan. 5 it could pursue “a broad vary of strategic alternate options” and that course of continues. “Strategic alternate options” within the company world can imply something from a sale of an organization to an funding or in some circumstances, nothing. 

“There could be no assurance that the exploration of strategic alternate options will end in any agreements or transactions, or that, if accomplished, any agreements or transactions will probably be profitable or on engaging phrases,” the corporate assertion mentioned in the present day.

OraSure shares are traded on the NASDAQ market underneath the ticker image OSUR. They closed in the present day at $7.29 and dropped 12 cents as of 4:21 p.m. Prior to now 52 weeks, the shares have traded as excessive as $13.57 and as little as $6.51.

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The Jan. 5 assertion about in search of alternate options included famous that fiscal fourth-quarter gross sales could be on the low finish of the corporate’s forecast vary due to lower-than-expected gross sales of InteliSwab, OraSure’s take a look at for the Covid-19 omicron variant.