Co-Diagnostics, Inc. Announces Shipment of Monkeypox Virus Test
Co-Diagnostics, Inc. (Nasdaq-CM: CODX) announced the shipment of testing reagents for monkeypox virus to an international distributor amidst a global outbreak. As of July 7, 2022, over 6,000 monkeypox cases have been reported across 59 countries, according to the World Health Organization. The reagents were developed quickly to meet urgent regional demands. CEO Dwight Egan emphasized the importance of their PCR-based testing products for effective disease detection, underscoring the company's commitment to high-quality, affordable diagnostics worldwide.
- Rapid development and shipment of monkeypox testing reagents to fulfill urgent demand.
- Alignment with WHO's preferred testing method (PCR), enhancing credibility.
- Commitment to providing affordable molecular testing products on a global scale.
- Dependence on the effectiveness of new products in a competitive market.
- Risks associated with manufacturing and quality control during scale-up.
- Uncertainties in regulatory approval and market acceptance of new diagnostics.
SALT LAKE CITY, July 11, 2022 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq-CM: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it has shipped testing reagents for monkeypox virus currently exhibiting a multi-country outbreak to one of its international distributors.
According to the World Health Organization (WHO), monkeypox is a virus originally transmitted to humans from animals, and then transmitted from one person to another by close contact with lesions, body fluids, respiratory droplets and contaminated materials such as bedding. As of July 7, 2022, over 6,000 cases of monkeypox have been reported to WHO from 59 countries.
The products shipped were designed and developed on an expedited basis to meet the demands in the distributor's region.
Company CEO Dwight Egan commented, "The World Health Organization has stated that, 'Detection of viral DNA by polymerase chain reaction (PCR) is the preferred laboratory test for monkeypox.' We are grateful to our dedicated design and manufacturing teams, whose efforts have allowed us to react so quickly to meet the needs of an important distributor customer. Co-Dx is pleased to be able to continue our mission of providing high-quality, affordable molecular testing products in response to ever-changing healthcare demands in regions all around the world."
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets state-of-the-art diagnostics technology. The Company's technology is 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 to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers.
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. Risks and uncertainties that may cause such differences include, among other things: our products may not prove to be as effective as other products currently being commercialized or to be commercialized in the future by competitors; risks inherent in manufacturing and scaling up to commercial quantities while maintaining quality controls; the uncertainties inherent in new product development, including the cost and time required to gain regulatory clearance for such product and to commercialize such product(s);and, market acceptance of our products once commercialized. 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 any of the anticipated results will occur on a timely basis or at all due to certain risks and uncertainties, a discussion of which can be found in the Risk Factors disclosure in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on March 22, 2022, and in our other filings with the SEC. The Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.
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SOURCE Co-Diagnostics
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