<PAGE> 1
Prospectus Supplement No. 3 dated October 3, 1996 Rule 424(b)(3)
(to prospectus dated February 13, 1996) File No. 333-00667
QUIDEL CORPORATION
2,366,665 Shares of Common Stock
This Prospectus Supplement No. 3 supplements the Quidel Corporation
("Company") Prospectus previously filed with the Securities and Exchange
Commission ("Commission") and declared effective on February 13, 1996 (file
number 333-00667), the Prospectus Supplement previously filed with the
Commission on February 16, 1996 ("Supplement No. 1") and the Prospectus
Supplement previously filed with the Commission on March 18, 1996 ("Supplement
No. 2"). The information contained in the Selling Security Holder table and
footnotes thereto set forth below modifies and supersedes in its entirety the
information contained in Supplement No. 2, Supplement No. 1 and in the Selling
Security Holder table and footnotes thereto set forth on pages 9 and 10 of the
Prospectus.
- -------------------------------------------------------------------------------
SELLING SECURITY HOLDERS
The following table sets forth certain information regarding the
beneficial ownership of the Company's Common Stock by the Selling Security
Holders as of September 3, 1996, and as adjusted to reflect the sale of the
maximum number of shares offered by such holders hereby. See "Shares Covered."
<TABLE>
<CAPTION>
Maximum
Number of
Shares
Shares Beneficially Covered by Shares Beneficially
Owned this Owned
Prior to Offering(1) Prospectus(2) After Offering
-------------------- ------------- ------------------------
Name Number Percent(3) Number Percent(3)(4)
- ---- ------ ---------- ------ -------------
<S> <C> <C> <C> <C> <C>
D.E. Shaw Investments, 350,000 1.6% 350,000 0 *
L.P.
Genesis Merchant Group 173,250 * 173,250 0 *
Securities
Grange Trustees Limited, 12,500 * 12,500 0 *
Trustees of The Chester
Trust
Imperial Bancorp 117,871 * 117,871 0 *
JMG Convertible 100,000 * 100,000 0 *
Investments L.P.
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C>
J.P. Morgan Investment 2,015,254 8.9% 1,015,254 1,000,000 4.2%
Corporation
McMahan Securities Co. 50,000 * 50,000 0 *
L.P.
Pomona Capital, LP 56,403 * 56,403 0 *
Redington, Inc.(5) 50,000 * 50,000 0 *
Reliant Trading 150,000 * 150,000 0 *
Barry S. Rosenstein 56,750 * 56,750 0 *
Barry S. Rosenstein Corp. 45,000 * 45,000 0 *
Defined Contribution Plan
and Trust
SP Offshore Venture 38,462 * 38,462 0 *
Capital LP
SP Venture Capital, L.P. 25,051 * 25,051 0 *
SOF Venture Capital, LP 49,291 * 49,291 0 *
TQA Leverage Fund, 76,833 * 76,833 0 *
L.P.
</TABLE>
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* Less than one percent.
(1) Represents sole voting and investment power unless otherwise indicated.
(2) All shares covered by this Prospectus are shares of the Company's
Common Stock to be obtained by the Selling Security Holders upon
exercise of their respective outstanding warrants.
(3) The percentage ownership for each Selling Security Holder is calculated
by assuming the exercise or conversion of all outstanding and vested
warrants, rights and convertible securities.
(4) The percentage ownership of shares beneficially owned by each Selling
Security Holder after the offering is calculated by assuming the sale by
each Selling Security Holder of all such Selling Security Holder's
shares of the Company's Common Stock covered by this Prospectus.
(5) These shares are shares of the Company's Common Stock to be obtained
upon exercise of outstanding warrants, currently comprised of 25,000
vested warrants and an additional 25,000 warrants whose vesting in
increments of 12,5000 shares each is conditioned upon the Company's
Common Stock trading at or above certain market prices for certain
periods of time.
2
