Co-Diagnostics Hosts Kingdom of Saudi Arabia Joint Venture CoMira for Unveiling of Future Automated Manufacturing Line

Rhea-AI Summary

Co-Diagnostics (Nasdaq: CODX) hosted a delegation from joint venture partner CoMira Diagnostics from the Kingdom of Saudi Arabia for a week-long visit and June 17, 2026 event unveiling a future automated PCR test kit manufacturing line.

The planned technology transfer aims to bring Co-Dx's AI-enabled molecular diagnostics platform and scalable manufacturing capabilities to KSA and 18 other Middle Eastern and Northern African countries.

Positive

• Planned technology transfer of Co-Dx platform and manufacturing to CoMira in KSA
• Future automated PCR test kit manufacturing line for rapid production scaling
• Partnership footprint targeting KSA and 18 other Middle Eastern and Northern African countries
• AI- and cloud-enabled PCR platform designed for real-time outbreak surveillance
• Event underscores U.S.–Gulf region economic and innovation collaboration

Negative

• Co-Dx PCR platform and associated tests are subject to regulatory review and not yet available for sale

News Market Reaction – CODX

+1.20%

6 alerts

+1.20% Session close to close

+19.3% Peak Tracked

-12.2% Trough Tracked

$12.18M Market Cap

0.0x Rel. Volume

In the Jun 18 session, CODX gained 1.20%, reflecting a mild positive market reaction. Argus tracked a peak move of +19.3% during that session. Argus tracked a trough of -12.2% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement extends CODX’s CoMira partnership, unveiling an automated PCR line to serve KSA an...

Analysis

This announcement extends CODX’s CoMira partnership, unveiling an automated PCR line to serve KSA and 18 regional countries. Prior partnership news has moved the stock sharply; key risks remain regulatory clearance for the Co-Dx platform and execution of international scaling.

Key Figures

Regional coverage: 18 countries Mexico partner revenue: $18 million Mexico COVID-19 test share: over 50% +5 more

8 metrics

Regional coverage 18 countries Planned CoMira distribution across Middle Eastern and Northern African markets

Mexico partner revenue $18 million Revenue generated for Co-Diagnostics since 2020

Mexico COVID-19 test share over 50% Share of Mexico’s COVID-19 PCR tests through 2021 from Logix Smart

Private placement size $3.0 million May 21, 2026 at-the-market private placement under Nasdaq rules

Registered resale shares 4,942,341 shares Shares registered for resale under May 28, 2026 S-3

Potential warrant proceeds $5.18 million Cash CODX may receive if registered warrants are fully exercised

Shares outstanding 3,685,314 shares Common shares outstanding as of May 27, 2026

Short interest 29.37% Reported short interest based on validated float as of May 29, 2026

Previous Partnership Reports

5 past events · Latest: May 26 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 26	Ebola JV strategy	Positive	+79.7%	CoSara joint venture strategy for Bundibugyo Ebola assay and faster deployment.
May 08	Saudi facility lease	Positive	+31.1%	CoMira lease for turnkey Sudair facility to localize PCR manufacturing in KSA.
Apr 16	TB summit invitation	Positive	+2.8%	Invitation to present Co-Dx MTB test on PCR platform at Stop TB Summit.
Apr 02	Saudi land approval	Positive	-4.9%	CoMira industrial land allocation approval in Sudair Industrial City for facility.
Feb 05	CoSara license	Positive	+0.0%	CoSara CDSCO license to manufacture and sell PCR Pro instrument in India.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Partnership‑related announcements have often produced strong upside moves for CODX, though a few events saw flat or negative reactions.

Key Terms

pcr, molecular diagnostics, schedule 13g, cdsco, +1 more

5 terms

pcr medical

"The KSA delegation and other dignitaries toured the Company's future automated PCR test kit manufacturing line"

PCR (polymerase chain reaction) is a laboratory method that makes many copies of a tiny piece of genetic material (DNA or RNA) so scientists can detect and study it reliably — think of photocopying a faint, tiny note until the words are easy to read. For investors, PCR matters because it underpins diagnostic tests, drug development, and biotech tools whose sales, regulatory approvals, and real-world use can materially affect company revenues and market perceptions during health events or product launches.

molecular diagnostics medical

"a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests"

Molecular diagnostics are laboratory tests that look for specific molecules — such as genes, pieces of DNA or RNA, or proteins — to detect disease, predict risk, or guide treatment choices. For investors, these tests matter because they can change how illnesses are diagnosed and treated, create recurring revenue through specialized tests and companion products, and face clear regulatory and reimbursement pathways that drive commercial value; think of them as reading a biological barcode to inform medical decisions.

schedule 13g regulatory

"a Schedule 13G filed by Jane Street Group, LLC and its subsidiaries reports 236,359 shares"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

cdsco regulatory

"joint venture CoSara received a CDSCO Form MD-5 license on Feb 5, 2026"

The Central Drugs Standard Control Organization (CDSCO) is India’s national regulatory authority that approves medicines, vaccines, medical devices and sets safety standards for clinical trials and manufacturing. Investors care because CDSCO decisions determine whether health products can be sold, how quickly they reach market, and what safety rules companies must follow — much like a building inspector whose sign-off lets a project open to the public and affects its commercial value.

pre-funded warrant financial

"comprised of 54,915 PIPE Shares, 1,592,532 Pre-Funded Warrant Shares and 3,294,894 Common Warrant Shares"

A pre-funded warrant is a financial instrument that gives the holder the right to buy shares of a company's stock at a set price, with most of the purchase cost already paid upfront. It functions like a nearly fully paid option, allowing investors to secure shares quickly while minimizing the amount of additional money they need to invest later. This helps investors gain ownership rights efficiently, often used to avoid certain regulatory restrictions or to prepare for future stock purchases.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Visit has included tour of Utah headquarters and automated manufacturing facilities ahead of planned technology transfer 

SALT LAKE CITY, June 18, 2026 /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 a delegation from CoMira Diagnostics ("CoMira"), the Company's joint venture with partners in the Kingdom of Saudi Arabia ("KSA"), visited Co-Diagnostics' Salt Lake City headquarters ahead of a planned technology transfer to CoMira. The visit included a tour of the Company's facilities and unveiling a future automated manufacturing line at a technology and innovation event also attended by state officials, trade representatives, and community leaders.

The week-long visit and yesterday's unveiling represent the next phase of the Company's partnership with CoMira, which is designed to bring Co-Dx's molecular diagnostics platform* and manufacturing capabilities to the Kingdom of Saudi Arabia. The KSA delegation and other dignitaries toured the Company's future automated PCR test kit manufacturing line, a key component of the planned technology transfer to CoMira, which is expected to enable rapid scaling of diagnostic test production and more efficient deployment of testing solutions to support healthcare needs in KSA and 18 other Middle Eastern and Northern African countries.

"International partnerships like the one we have fostered with CoMira reflect our belief that closing the diagnostics gap requires a collaboration between both leading-edge technology and deep local expertise," remarked Dwight Egan, Chief Executive Officer of Co-Diagnostics. "This visit is an opportunity to demonstrate what we are building and what we intend to deliver: an integrated platform, a manufacturing capability, and a partnership model that we believe can make meaningful diagnostics more accessible across the region and beyond."

The Co-Dx PCR platform integrates artificial intelligence and cloud-connected outbreak surveillance capabilities designed to support real-time monitoring of infectious disease trends. These capabilities are expected to be a component of the CoMira partnership and reflect the Company's broader strategy of deploying automated, AI-enabled diagnostics infrastructure in key international markets.

The delegation event took place on June 17, 2026, and included participation from Utah state officials, trade representatives, and other local leaders, reflecting the significance of the partnership to both the local innovation ecosystem and U.S.-Gulf region economic collaboration.

"This visit has provided our team a direct look at the advanced manufacturing infrastructure that will underpin CoMira's future operations in the Kingdom," said Ihssan Rjoob, CEO of CoMira Diagnostics. "Co-Diagnostics has built an automated platform designed for scalable, efficient production, and we are excited to translate that capability into a local manufacturing operation that will complement CoMira's strengths in serving the healthcare needs of Saudi Arabia and the broader region."

*The Co-Dx PCR platform (including the PCR Home^®, PCR Pro^®, mobile app, and all associated tests) is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.

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) and 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. Forward-looking statements can be identified by words such as "believes," "expects," "estimates," "intends," "may," "plans," "will," "seeks," "anticipates," and similar expressions, or the negative of these terms. Forward-looking statements in this press release include, but are not limited to, statements regarding: (i) the planned technology transfer to CoMira and expected capabilities of the Company's automated manufacturing line; (ii) the Company's plans and expectations regarding international commercialization through joint venture partnerships; and (iii) the expected capabilities of the Co-Dx platform, including AI and outbreak surveillance functionality. Such statements are subject to a number of risks and uncertainties, including, without limitation: risks related to international operations, including changing regulatory requirements, economic conditions, and geopolitical factors; risks related to the Company's dependence on joint venture partners and other third parties; risks related to regulatory review by the FDA or other regulatory authorities; risks related to the performance, reliability, and market acceptance of the Co-Dx PCR platform; and other risks described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). Actual results may differ materially from those expressed or implied in these forward-looking statements. A further description of risks and uncertainties can be found in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, and in its other filings with the SEC. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/co-diagnostics-hosts-kingdom-of-saudi-arabia-joint-venture-comira-for-unveiling-of-future-automated-manufacturing-line-302804392.html

SOURCE Co-Diagnostics

FAQ

What did Co-Diagnostics (CODX) announce about its CoMira joint venture on June 18, 2026?

Co-Diagnostics announced a CoMira delegation visit and unveiled a future automated PCR manufacturing line. According to Co-Diagnostics, this marks the next phase of a planned technology transfer bringing its molecular diagnostics platform and manufacturing capabilities to Saudi Arabia and broader regional markets.

How will the Co-Diagnostics and CoMira partnership impact diagnostic manufacturing in Saudi Arabia?

The partnership is expected to establish local PCR test kit manufacturing in Saudi Arabia. According to Co-Diagnostics, the automated line and technology transfer should enable rapid scaling of test production and more efficient deployment of diagnostic solutions across KSA and neighboring countries.

Which regions will CoMira and Co-Diagnostics target with the new PCR manufacturing line?

The collaboration targets healthcare needs in Saudi Arabia and 18 other Middle Eastern and Northern African countries. According to Co-Diagnostics, the future automated PCR manufacturing line is a key component of this regional strategy and planned technology transfer to CoMira.

What technologies are included in the Co-Diagnostics PCR platform involved in the CoMira venture?

The Co-Dx PCR platform includes PCR Home, PCR Pro, a mobile app, and associated tests. According to Co-Diagnostics, it integrates AI and cloud-connected outbreak surveillance capabilities designed to support real-time monitoring of infectious disease trends in key international markets.

Is the Co-Diagnostics (CODX) PCR platform already approved and available for sale?

No, the Co-Dx PCR platform and all associated tests are not yet available for sale. According to Co-Diagnostics, the platform remains subject to review by the FDA and/or other regulatory bodies before any potential commercialization can occur.

What was the significance of the June 17, 2026 Co-Diagnostics and CoMira event in Utah?

The June 17 event showcased Co-Diagnostics’ future automated manufacturing line to CoMira and dignitaries. According to Co-Diagnostics, participation by Utah officials and trade representatives highlighted the partnership’s importance to the local innovation ecosystem and U.S–Gulf economic collaboration.