OraSure Technologies Issues Statement Regarding Altai Capital's Intent to Nominate Director Candidates

Core Viewpoint - OraSure Technologies, Inc. is facing a potential board nomination challenge from Altai Capital, which intends to nominate two candidates for the Board of Directors at the 2026 Annual Meeting of Stockholders [1][5]. Group 1: Board Composition and Shareholder Engagement - The OraSure Board and management are focused on shareholder value creation and have engaged in discussions with Altai Capital regarding board composition [2][3]. - The Board has undergone significant refreshment over the past three years, with seven directors departing and three new independent directors added, including Steven K. Boyd in October 2025 [3]. - The Board has offered to engage further with Altai Capital, but Altai has not accepted these invitations [2]. Group 2: Strategic Initiatives and Financial Position - OraSure is executing a strategy to decentralize diagnostics and improve performance, including a $40 million share repurchase program initiated earlier this year [4]. - The company maintains a strong cash position with $216 million on the balance sheet as of September 30, 2025, and has no debt [7]. - OraSure is consolidating operations and insourcing manufacturing to improve margins while exiting unprofitable business lines [7]. Group 3: Future Plans and Product Development - The company is advancing its innovation roadmap with anticipated FDA submissions for new diagnostic products, including the Sherlock rapid molecular self-test and HEMAcollect PROTEIN blood collection tube [7]. - OraSure aims to strengthen its portfolio and focus on high-growth opportunities across diagnostics and sample management solutions [7].