Co-Diagnostics Announces Reverse Stock Split

Rhea-AI Summary

Co-Diagnostics (Nasdaq: CODX) filed a Certificate of Amendment to effect a 1-for-30 reverse stock split, effective at 12:01 a.m. ET on January 2, 2026. The company's common stock will continue trading on Nasdaq under the symbol CODX and will trade on a split-adjusted basis when markets open on January 2, 2026. The reverse split was approved by stockholders at a special meeting on December 5, 2025 within an authorized range of 1-for-2 to 1-for-30.

The reverse split is intended to enable the company to regain compliance with Nasdaq's $1.00 minimum bid price requirement. At the effective time, every 30 issued and outstanding shares will combine into one share; par value per share remains unchanged. The action will adjust shares available under equity incentive plans, change option and warrant share counts and increase exercise prices, and result in a new CUSIP of 189763 204. Fractional shares will be rounded up to the next whole share.

Positive

• Reverse split set at 1-for-30 to consolidate share count
• Action intended to regain compliance with Nasdaq $1.00 minimum bid
• Shares to trade on split-adjusted basis beginning Jan 2, 2026

Negative

• Company was below Nasdaq $1.00 minimum bid prior to the split
• Reverse split will reduce shares issuable under equity incentive plans
• Options and warrants will have a higher exercise price post-split

Key Figures

Reverse split ratio 1-for-30 Common stock reverse split effective January 2, 2026

Effective time 12:01 a.m. ET Reverse split effective time on January 2, 2026

Nasdaq minimum bid $1.00 Minimum bid price requirement for Nasdaq Capital Market listing

Approved split range 1-for-2 to 1-for-30 Range authorized by stockholders on December 5, 2025

Meeting date December 5, 2025 Special Meeting of Stockholders approving reverse split authority

Proxy filing date November 10, 2025 Definitive proxy statement filed with the SEC

New CUSIP 189763 204 CUSIP number post reverse split for CODX common stock

Market Reality Check

$0.2292 Last Close

Volume Volume 1,337,866 is below the 20-day average of 1,581,092 (relative volume 0.85x). normal

Technical Shares at $0.2292 are trading below the 200-day MA of $0.34 and far under the $1.55 52-week high.

Peers on Argus

Peers show mixed but mostly negative moves, with INBS -9.66%, SINT -3.49%, AIMD -2.56%, XAIR -0.62%, while NXL is slightly positive at +0.29%. No momentum scanner signals were triggered.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 29	Patent grant	Positive	-2.5%	Australian patent granted for Co-Dx PCR platform technologies and Co-Primers®.
Dec 18	Partnership outreach	Positive	+5.3%	CoSara invited to advanced TB diagnostics course, showcasing diagnostics value chain role.
Dec 17	Technical validation	Positive	+6.5%	In silico analysis confirmed Logix Smart ABC reactivity against H3N2 mutation set.
Dec 09	Conference presentation	Positive	+4.5%	Presentation on portable Co-Dx PCR platform and AI integration at POC conference.
Dec 08	JV conference update	Positive	-7.4%	CoSara participation at VIROCON with preclinical MTB and HPV study data updates.

Pattern Detected

Recent fundamentally positive announcements (IP, technical data, partnerships, conferences) have produced mixed reactions, with three positive and two negative 24-hour moves, indicating inconsistent trading follow-through on news.

Recent Company History

Over the past month, Co-Diagnostics reported multiple developments supporting its PCR platform and global footprint. On Dec 8–9, 2025, CoSara’s participation in VIROCON and an AI-focused presentation on the Co-Dx PCR platform coincided with both positive and negative price moves. Technical validation news on Dec 17 and a new Australian patent on Dec 29 highlighted IP and assay robustness, yet share reactions varied, framing today’s reverse split decision against a backdrop of operational and R&D progress but weak share performance.

Market Pulse Summary

This announcement details a 1-for-30 reverse stock split aimed at regaining compliance with Nasdaq’s $1.00 minimum bid requirement while keeping CODX on the Nasdaq Capital Market. The action compresses outstanding shares, adjusts option and warrant terms, and uses rounding up to avoid issuing fractional shares. Investors may monitor post-split liquidity, bid-price stability, and how future operational updates interact with the new capital structure.

Key Terms

reverse stock split financial

"to effect a reverse stock split of its common stock at a ratio of 1-for-30"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

Certificate of Incorporation regulatory

"filed a Certificate of Amendment to its Certificate of Incorporation"

A certificate of incorporation is an official government document that creates a corporation and records key facts such as its legal name, basic governance structure, and stock authorization—think of it as a company's birth certificate plus its basic rulebook. Investors care because it establishes the company’s legal existence, limits owners’ personal liability, and sets the framework for issuing shares and enforcing shareholder rights, which affects ownership, control and the company’s ability to raise capital.

Nasdaq Capital Market regulatory

"will continue to trade on The Nasdaq Capital Market under the symbol "CODX""

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

CUSIP financial

"The new CUSIP number for Co-Dx's common stock following the reverse stock split"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

par value financial

"without effecting a change to the par value per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

equity incentive plans financial

"shares of common stock available for issuance under the Company's equity incentive plans"

Equity incentive plans are company programs that pay employees, executives, or directors with company stock, stock options, or share units instead of or in addition to cash, aiming to align their interests with shareholders—like giving team members a stake in the house they help build. For investors this matters because such plans can motivate better company performance but also dilute existing ownership and increase reported compensation costs, so they affect future earnings, voting power, and share value.

stock options financial

"reduction in the number of shares of common stock issuable upon the exercise of stock options"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

warrants financial

"reduction in the number of shares of common stock issuable upon the exercise of stock options and warrants"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

AI-generated analysis. Not financial advice.

SALT LAKE CITY, Dec. 30, 2025 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dx" or "the Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced that it has filed a Certificate of Amendment to its Certificate of Incorporation (the "Amendment") to effect a reverse stock split of its common stock at a ratio of 1-for-30 shares. The reverse stock split will become effective at 12:01 a.m. ET on Friday, January 2, 2026. Co-Dx's common stock will continue to trade on The Nasdaq Capital Market under the symbol "CODX" and will begin trading on a split-adjusted basis when the market opens on Friday, January 2, 2026. The reverse stock split is intended to enable the Company to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. The new CUSIP number for Co-Dx's common stock following the reverse stock split will be 189763 204.

At the Special Meeting of Stockholders held on December 5, 2025, the Company's stockholders approved a reverse stock split of Co-Dx common stock at a ratio of not less than 1-for-2 and not more than 1-for-30 shares, with such ratio to be determined by the Board of Directors. Additional information regarding the reverse stock split approved by stockholders can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission on November 10, 2025.

The Amendment provides that at the effective time of the reverse stock split, each 30 shares of the Company's issued and outstanding common stock will be automatically combined into one validly issued, fully paid and non-assessable share of common stock, without effecting a change to the par value per share. The reverse stock split will impact all shares of the Company's common stock outstanding immediately prior to the effective time of the reverse stock split, as well as the number of shares of common stock available for issuance under the Company's equity incentive plans. In addition, the reverse stock split will effect a reduction in the number of shares of common stock issuable upon the exercise of stock options and warrants outstanding immediately prior to the effectiveness of the reverse stock split with a corresponding increase in exercise price per share.

No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive fractional shares as a result of the reverse stock split will have those shares rounded up to the next whole share. Stockholders with shares in brokerage accounts should direct any questions concerning the reverse stock split to their broker; all other stockholders may direct questions to the Company's transfer agent, VStock Transfer, LLC.

About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets state-of-the-art diagnostics technologies. The Company's technologies are utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests for its Co-Dx PCR at-home and point-of-care platform (subject to regulatory review and not currently for sale) to identify genetic markers for use in applications other than infectious disease.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA") that are subject to a number of risks and uncertainties. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. There can be no assurance that implementing a reverse stock split will result in the company regaining compliance with Nasdaq listing requirements or that if compliance is regained that the company will be able to maintain such compliance. A discussion of additional risks and uncertainties can be found in the Company's Risk Factors disclosure in its Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and in the Company's other filings with the SEC. Co-Dx undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this report.

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SOURCE Co-Diagnostics

FAQ

What reverse stock split did Co-Diagnostics (CODX) announce and when does it take effect?

Co-Diagnostics announced a 1-for-30 reverse stock split that becomes effective at 12:01 a.m. ET on January 2, 2026.

Why is Co-Diagnostics (CODX) doing a 1-for-30 reverse split?

The reverse split is intended to enable the company to regain compliance with Nasdaq's $1.00 minimum bid price requirement.

Will Co-Diagnostics (CODX) remain listed on Nasdaq after the reverse split?

Yes. Co-Diagnostics common stock will continue to trade on The Nasdaq Capital Market under the symbol CODX and will trade on a split-adjusted basis on January 2, 2026.

How will the reverse split affect my Co-Diagnostics (CODX) stock and fractional shares?

Every 30 outstanding shares will combine into one share; no fractional shares will be issued and fractional holdings will be rounded up to the next whole share.

What happens to Co-Diagnostics (CODX) options and warrants after the 1-for-30 split?

Options and warrants outstanding immediately prior to the split will have their number of shares reduced and a corresponding increase in exercise price per share.

What is the new CUSIP for Co-Diagnostics (CODX) after the reverse stock split?

The new CUSIP for Co-Diagnostics common stock following the reverse split will be 189763 204.