— Jeff Ward, Lehigh Valley News Briefs
The chief product officer of Bethlehem-based OraSure Technologies is leaving the company effective June 30.
Here’s the item from an OraSure (NASDAQ:OSUR) filing with the U.S. Securities and Exchange Commission:
On May 8, 2025, Kathleen G. Weber notified OraSure Technologies, Inc. (the “Company”) of her resignation as Chief Product Officer of the Company, effective June 30, 2025. Ms. Weber’s resignation will be treated as a resignation for “Good Reason,” as such term is defined in Amendment No. 2 to that certain Employment Agreement, dated as of January 1, 2019 (as amended, the “Employment Agreement”), by and among Ms. Weber, the Company, and DNA Genotek Inc., the Company’s wholly-owned subsidiary. Ms. Weber will be entitled to the severance benefits set forth in the Employment Agreement consistent with a resignation for “Good Reason.” All severance benefits are contingent upon Ms. Weber’s execution of a general release of claims against the Company. The Employment Agreement and each amendment thereto are filed as Exhibits 10.1, 10.2 and 10.3 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission on March 7, 2025.
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Shares of OraSure have been bumbling along for years. The company last enjoyed a big bump during the COVID-19 pandemic. Revenue has been falling and OraSure just reported another quarterly loss.
The closing price Tuesday was $2.65, less than half of the $5.55 52-week high.
OraSure makes medical diagnostic kits, such as InteliSwab for COVID and OraQuick for HIV. It has some other businesses.
The company, which sometimes refers to itself as OTI, that is now known as OraSure was founded as SolarCare in 1988, a maker of sunscreen towelettes.
Lehigh Valley News Briefs 