San Diego-based Quidel (NASDAQ: [[ticker:QDEL]]), the maker of diagnostic tests for flu and other infectious diseases, said today its board has authorized the company to buy back an extra $25 million worth of its shares. The company was previously authorized to repurchase about $26 million worth of shares, and the board allowed extra buybacks to counter the dilutive effect of granting equity compensation to employees.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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