LumiraDx falls on weak Q2 results

LumiraDx

18/08/2022 14:12

** Shares of diagnostics company LumiraDx Ltd  LMDX.O  fall
4% to $1.44 before the bell
    ** Reports Q2 revenue of $44.7 mln, missing Refinitiv IBES
estimates of $53.1 mln; says revenue was impacted by lower
COVID-19 tests as disease has moved from pandemic to endemic
stage  urn:newsml:reuters.com:*:nGNEw85J5
    ** Says it initiated a global restructuring plan to resize
the organization, but did not provide further details
    ** Also reports wider-than-expected Q2 loss of 58 cents/shr,
compared with estimates of 26 cents/shr
    ** As of last close, stock down ~83% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))