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 pioneering molecular diagnostics company based in Sandy, Utah. The company is renowned for its unique, patented technology that significantly enhances the speed, performance, and cost-efficiency of DNA testing for a variety of diseases compared to traditional methods. Co-Diagnostics focuses on the development, manufacturing, and commercialization of its proprietary technologies through sales, development, and licensing agreements.
Co-Diagnostics’ core technology is protected by multiple patents and trade secrets, enabling revolutionary approaches in molecular diagnostics. These innovations have been utilized to develop a range of assays in the infectious disease sector, demonstrating the technology's exceptional capabilities. The company's patented inventions stem from advanced mathematical models designed by Dr. Brent C. Satterfield.
The firm’s product portfolio includes diagnostic tests for diseases such as tuberculosis, Zika, hepatitis B and C, malaria, dengue, and HIV. These tests utilize the detection and analysis of nucleic acid molecules (DNA or RNA) to provide accurate and efficient diagnostics. Co-Diagnostics also leverages its proprietary technology to create tests for its Co-Dx PCR platform, which includes at-home and point-of-care solutions.
One of the notable collaborations of Co-Diagnostics is its joint venture with CoSara Diagnostics Pvt Ltd in India. This partnership has led to regulatory clearance from India’s Central Drugs Standard Control Organization (CDSCO) for multiple diagnostic tests, including the SARAPLEX™ Influenza Multiplex (IFM) Test Kit, which differentiates between Influenza A and B strains.
Recently, Co-Diagnostics announced significant milestones, such as the opening of new manufacturing facilities in Salt Lake City, Utah, and Ranoli, India. These facilities will enhance the production of the company’s novel Co-Dx PCR Pro™ instrument and test cups, as well as the Co-Primers™ chemistry that is vital for its PCR diagnostic tests. The Salt Lake City facility, inaugurated with support from local dignitaries and business leaders, marks a critical step in expanding the company's production capabilities.
The company’s forward-looking strategies include submitting an Emergency Use Authorization (EUA) to the FDA for the Co-Dx PCR Pro™ instrument, mobile app, and COVID-19 test. This submission is part of Co-Diagnostics’ effort to decentralize PCR diagnostics and extend its reach to at-home and point-of-care settings. The company is also developing tests for tuberculosis, multiplex respiratory infections, and HPV, among others.
Co-Diagnostics’ financial performance and strategic initiatives are regularly discussed through conference calls and webcasts, involving key executives such as CEO Dwight Egan and CFO Brian Brown. The company remains committed to innovation and growth, aiming to provide accessible and high-quality diagnostic solutions worldwide.
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.
Co-Diagnostics (Nasdaq: CODX) announced a corporate rebranding following significant growth, aiming to reflect its expanded mission and entry into new diagnostics sectors. The company, known for its Logix Smart™ COVID-19 Test, has successfully sold over 22 million tests globally. They are developing an innovative at-home and point-of-care PCR testing platform that promises rapid results. The rebranding includes a new logo and marketing materials, anticipated to launch as they optimize their new device for FDA review. This change aims to enhance broad access to quality diagnostic solutions.
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