The decline contributed to significant losses for shareholders recently, with the stock down nearly 40% in the past year.
Investors reacted harshly to OraSure's fourth-quarter results, which in early February showed that sales fell 11% overall thanks to a drop off in its key genomics division. On a conference call with investors, management explained that this decline was due to the scaling back of purchases from a single large customer in the consumer DNA testing industry.
Check out the latest earnings call transcript for OraSure.
That customer has reduced its purchasing plans going forward as a result of its new promotions strategy. That move led OraSure to project weak sales for the fiscal first quarter. Management does believe operating trends will bounce back through the next three quarters of 2019, but investors still appear to be taking a cautious approach with the stock until they can see evidence that revenue gains and profitability won't be permanently pressured by OraSure's shifting selling environment.