Welcome to our dedicated page for Co-Diagnostics news (Ticker: CODX), a resource for investors and traders seeking the latest updates and insights on Co-Diagnostics stock.
Co-Diagnostics, Inc. (NASDAQ: CODX) is a molecular diagnostics company that develops, manufactures and markets technologies for tests designed to detect and analyze nucleic acid molecules (DNA or RNA). Its news flow centers on progress in molecular assay development, regulatory pathways for its Co-Dx PCR platform, intellectual property milestones, joint ventures, and capital markets activity.
Readers following CODX news can expect regular updates on the company’s point-of-care Co-Dx PCR platform, including the Co-Dx PCR Home and Co-Dx PCR Pro instruments, associated tests, and mobile app, all of which the company notes are subject to regulatory review and not yet available for sale. Recent announcements have covered clinical evaluations for the Co-Dx PCR Flu A/B, COVID-19, RSV upper respiratory multiplex test kit, preclinical and planned clinical performance studies for tuberculosis (MTB) and HPV tests on the platform, and the development of a proprietary sample preparation instrument for point-of-care use.
Co-Diagnostics also issues news about its joint ventures and international collaborations. Updates include activities of CoSara Diagnostics Pvt. Ltd. in India, such as participation in regional conferences and capacity-building workshops, and the formation of CoMira Diagnostics with Arabian Eagle Manufacturing to research, develop, manufacture, assemble, distribute and commercialize Co-Dx technologies in the Kingdom of Saudi Arabia and 18 MENA nations.
Investors and observers will find coverage of intellectual property developments, such as the grant of Australian Patent No. AU2022270084A1 for the Co-Dx PCR platform, as well as corporate and financing events disclosed through press releases and SEC filings. News items may also highlight the company’s AI business unit and presentations at industry conferences on portable, cloud-connected PCR diagnostics and AI integration. This page aggregates these updates so that users can review CODX-related announcements and regulatory communications in one place.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced its acquisition of Idaho Molecular Inc. and Advanced Conceptions, Inc., which will become wholly owned subsidiaries. This strategic move aims to enhance the commercialization of the Eikon™ platform and YourTest™ PCR device, particularly for a COVID-19 test. The deal includes the issuance of approximately 4.72 million shares and 465,000 common warrants, expected to close by year-end 2021. The acquisition is set to streamline product development and production, leveraging the expertise of key personnel from the acquired companies.
Co-Diagnostics, Inc. (Nasdaq: CODX) has partnered with TiiCKER™, a shareholder loyalty platform, to strengthen connections with retail investors. This initiative will help CODX engage its existing investors and attract new ones through direct marketing and reward programs. TiiCKER allows investors to verify their ownership and gain access to exclusive perks, including branded apparel. CEO Dwight Egan noted that this partnership will enhance investor relations and appreciation. TiiCKER aims to tap into the 130 million retail investors in the U.S., providing opportunities for CODX to grow its investor profile.
Co-Diagnostics (Nasdaq: CODX) announced that its joint venture, CoSara Diagnostics, has received approval from the Central Drugs Standard Control Organization (CDSCO) in India to manufacture and sell the SARAPLEX™ Flu A/Flu B/COVID-19 RT-PCR test. This is CoSara's fourth assay approved this year and is designed to detect influenza A, influenza B, and SARS-CoV-2, including all known variants. The test aims to aid in distinguishing between respiratory illnesses, supporting public health initiatives in India.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced that its COVID-19 PCR diagnostic assays remain effective against the newly discovered Omicron variant, which has over 50 mutations. The company utilized sequencing data from GISAID to confirm that none of the mutations interfere with the performance of its tests. CEO Dwight Egan expressed confidence in their diagnostics' robustness. As countries react to the variant, Co-Diagnostics continues monitoring the performance of its tests. The firm specializes in molecular diagnostics technology for various applications beyond infectious diseases.
SALT LAKE CITY, Nov. 15, 2021 /PRNewswire/ -- Co-Diagnostics, a molecular diagnostics company, will host a booth at the MEDICA 2021 trade fair in Düsseldorf, Germany, from November 15-18. The fair will feature approximately 2,900 exhibitors from 70 countries, marking a return to in-person events post-pandemic. Co-Diagnostics aims to showcase its in vitro diagnostic products for COVID-19 and other infectious diseases, including its innovative CoPrimer™ technology. Attendees can visit Booth D11-2 in Hall 3 for more information.
Co-Diagnostics, Inc. (NASDAQ: CODX) reported stellar Q3 2021 financial results with record revenue of $30.1 million, up 38.0% year-over-year, driven mainly by the Logix Smart™ COVID-19 Test. Gross profit soared 67.5% to $26.8 million, marking 89.0% of total revenue. While net income reached $11.5 million or $0.38 per diluted share, it fell short compared to $15.7 million in Q3 2020. Cash reserves rose to $83.9 million. The company anticipates full-year revenue between $96.0 million and $100.0 million.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced that its Logix Smart™ SARS-CoV-2 2-Gene multiplex test has been validated by the UK Health Security Agency under the CTDA, allowing it to be marketed in the UK. This test can utilize various sample types, including saliva. CEO Dwight Egan emphasized that this approval reflects the high standards of the company's testing technology and its commitment to providing reliable COVID-19 testing solutions globally. The test is available for purchase through Client Life Science, the authorized distributor in the UK.
Co-Diagnostics, Inc. (NASDAQ: CODX) will announce its third quarter 2021 financial results on November 11, 2021, post-market close. A conference call and webcast will occur at 4:30 p.m. EDT the same day to discuss these results, featuring CEO Dwight Egan, CFO Brian Brown, and Andrew Benson from Investor Relations. The company's diagnostics technology focuses on the detection of DNA and RNA molecules and is utilized across various industries.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced that its joint venture, CoSara Diagnostics Pvt Ltd, received approval from India's CDSCO to manufacture and sell the Saragene™ Dengue and Chikungunya Multiplex RT-PCR test as an in vitro diagnostic. This milestone is significant as it represents the 10th assay approved by the CDSCO for CoSara. The multiplex test enhances the company's portfolio designed to address public health needs in India, where dengue and chikungunya pose significant health risks. The approval reflects the company's commitment to innovation in molecular diagnostics.
Co-Diagnostics, Inc. (Nasdaq-CM: CODX) announced the introduction of its at-home and point-of-care PCR device at the 2021 AACC Annual Scientific Meeting in Atlanta, GA, from September 26-30. The press conference is scheduled for September 28 at 1:00 PM ET, where details on the PCR Platform and other updates will be shared. Co-Diagnostics will also showcase its diagnostic products at booth #2454. Notably, the new device has not yet been reviewed by the U.S. FDA and is not currently available for sale.
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