Co-Diagnostics Inc Stock Price, News & Analysis

Co-Diagnostics (NASDAQ: CODX) announced that its Logix Smart™ ABC Test for Influenza A, Influenza B, and COVID-19 is set to launch for US CLIA laboratory customers in early October 2020. The test utilizes the patented CoPrimer™ technology designed to minimize false positives in PCR tests, addressing the critical need for accurate viral detection amidst the ongoing pandemic. The initial release will be for laboratory-developed tests while the company seeks FDA Emergency Use Authorization and CE marking registration.

Co-Diagnostics, Inc. (Nasdaq: CODX) announced details regarding CEO Dwight Egan's upcoming presentation at H.C. Wainwright's 22nd Annual Global Investment Conference on September 14, 2020, at 10:00 ET. The presentation will showcase the company's growth, profitability, and future goals. Investors and interested parties can register to view the live presentation and access an archive for 90 days thereafter. Co-Diagnostics specializes in molecular diagnostics, utilizing proprietary technology to develop tests for nucleic acid detection and analysis, which extends beyond infectious diseases.

Co-Diagnostics, Inc. (Nasdaq: CODX) reports significant growth and demand for its Logix Smart™ COVID-19 test amid the ongoing pandemic. The RT-PCR tests are recognized as the 'gold standard' for detecting SARS-CoV-2, with rising global interest in PCR-based diagnostics. The company is enhancing its offerings by introducing a respiratory virus panel to test for influenza A, influenza B, and COVID-19. Co-Diagnostics continues collaborations with government and private sectors, expanding its reach in high-throughput laboratories across the U.S. and globally.

Co-Diagnostics, Inc. (Nasdaq: CODX) announced that CEO Dwight Egan will discuss the company's growth and profitability at H.C. Wainwright's 22nd Annual Global Investment Conference on September 14, 2020. The company has experienced a remarkable 1,503% increase in Q2 2020 revenue, totaling over $24 million, and transitioned from a loss to earnings of over $12 million. Egan will recap financial and regulatory achievements, emphasizing Co-Diagnostics' leadership in molecular diagnostics amidst the COVID-19 pandemic and its expansive distributor network.

Co-Diagnostics (Nasdaq: CODX) has received increased patent protection from the U.S. Patent Office for its CoPrimer technology used in COVID-19 testing. This patent, providing comprehensive protection for the CoPrimer molecule, emphasizes its unique structure that enhances PCR diagnostic tests. The technology has been successfully deployed worldwide and licensed for various applications, contributing to significant revenue and profitability. The optimized CoPrimer structure minimizes false positives, enhancing diagnostic accuracy. The company's growth also includes advancements in multiple sectors beyond infectious diseases.

Co-Diagnostics, Inc. (Nasdaq: CODX) announced strong Q2 2020 results with revenue of $24.04 million and a net profit of $12.6 million, translating to $0.43 per share. The company reported gross margins of 70% on COVID-19 test sales. Stockholders' equity rose significantly to $33.4 million. As of June 30, 2020, cash reserves were $18.6 million, up $17.7 million from the previous year. CoSara Diagnostics received authorization to manufacture COVID-19 tests in India. The company also reported nearly $50 million in sales orders year-to-date, with plans to launch multiplex testing soon.

Co-Diagnostics, Inc. (Nasdaq: CODX) announced the release date for its Q2 2020 earnings, set for August 13, 2020, after market close. The company will hold an earnings call at 4:30 PM EDT, featuring prepared remarks from CEO Dwight Egan, with an invitation for analysts to participate in a Q&A session. The earnings call will be accessible via a webcast. Co-Diagnostics specializes in molecular diagnostic technologies, focusing on nucleic acid detection for various applications including infectious diseases and genetic testing.

Co-Diagnostics, Inc. (Nasdaq: CODX) has announced that the Logix Smart™ COVID-19 test has received authorization for use in Australia. This approval allows the Company to expand its market presence, joining other regions like the United States and India. The test, which is CE-marked and has FDA EUA, is now available through the Company’s distributor in Australia. This comes amid rising COVID-19 cases in Melbourne, necessitating enhanced testing capabilities.

Co-Diagnostics, Inc. (Nasdaq: CODX) announced that its partner, Clinical Reference Laboratory (CRL), received FDA Emergency Use Authorization for the CRL Rapid Response™ COVID-19 saliva test. This self-administered test uses Co-Diagnostics' patented CoPrimer™ technology, enhancing sensitivity and specificity.

CEO Dwight Egan expressed confidence in the Co-Diagnostics platform, highlighting its potential to facilitate a safe return to normalcy. The Logix Smart COVID-19 test by Co-Diagnostics is also available for clinical laboratories in the US and other countries.