Co-Diagnostics, Inc. reports developments in molecular diagnostics, including its patented platform for designing molecular diagnostic tests and its Co-Dx PCR platform. Company news commonly covers clinical and regulatory disclosures, commercialization activity through CoSara and CoMira joint ventures, intellectual property and technology updates, and operating and financial results.
Recurring updates also include material agreements, governance matters, capital-structure actions, and securities-listing developments. The company’s public disclosures connect its diagnostic-test pipeline, platform development, and commercialization strategy with financing, shareholder approvals, and other corporate actions.
Co-Diagnostics, Inc. (CODX) announced its participation in the 16th Annual Next Generation Dx Summit in Washington, D.C. from August 19-21, 2024. The company will sponsor, present, and host a booth at this event, which focuses on diagnostic advancement and technology innovation.
CEO Dwight Egan will present on the company's upcoming PCR platform, currently under FDA review, in a luncheon presentation titled "Co-Dx PCR Platform: The Future of Accessible Diagnostics" on August 19 at 12:15 PM ET.
Attendees can visit Booth #26 to learn about the Co-Dx PCR testing platform and the Co-Dx Logix Smart® suite of clinical laboratory solutions, including Research Use Only (RUO) tests for mpox virus. The company's mpox test was featured in a study published in the Oxford Academic journal Open Forum Infectious Diseases in December 2023.
Co-Diagnostics, Inc. (NASDAQ: CODX) reported its Q2 2024 financial results, showing improvements despite ongoing losses. Revenue increased to $2.7 million from $0.2 million in the prior year, primarily due to milestone achievements in grant agreements. The company reduced its operating loss to $7.7 million from $12.0 million in 2023, with a net loss of $7.6 million ($0.25 per share) compared to $8.9 million ($0.31 per share) last year.
Key highlights include submitting a 510(k) application to the FDA for the Co-Dx™ PCR Pro™ Platform, inaugurating a new manufacturing facility, and expanding vector control technology to Nevada. The company maintains a strong cash position of $44.9 million as of June 30, 2024.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced its participation in the Association for Diagnostics & Laboratory Medicine (ADLM) annual meeting in Chicago from July 28-August 1, 2024. The company will host a booth and deliver a presentation on July 30 at 2:00 PM, focusing on their new Co-Dx™ PCR platform for at-home and point-of-care diagnostics. This platform aims to address the global diagnostics gap, with potential applications including tuberculosis (TB) testing.
Co-Dx recently submitted an FDA 510(k) application for a COVID-19 test using this platform. The company will showcase the Co-Dx PCR Pro™ instrument at Booth 2879 and present a scientific poster on July 31. CEO Dwight Egan and Executive VP Joseph Featherstone will discuss Co-Dx's role in the initiative to end TB by 2030. The new platform and associated tests are currently under FDA review and not yet available for sale.
Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company, has announced the release date for its second quarter 2024 financial results. The company will disclose its earnings on Thursday, August 8, 2024, after the market closes. Following the release, Co-Diagnostics will host a conference call and webcast at 4:30 p.m. ET to discuss the results with analysts and institutional investors.
The call will feature key management figures, including CEO Dwight Egan, CFO Brian Brown, and Head of Investor Relations Andrew Benson. Interested parties can access the webcast through the company's investor relations website or join the conference call using the provided domestic and international phone numbers. For those unable to attend live, a recording will be made available on the company's website later.
Co-Diagnostics (CODX), a molecular diagnostics company, announced the extension of its vector control customer base to 25 customers across 15 U.S. states. The expansion follows the upcoming installation of its vector control technology in Nevada. Co-Dx's Vector Smart® PCR tests are utilized in environmental surveillance of mosquito pools for diseases like West Nile virus, Zika, dengue, and chikungunya. The technology allows mosquito abatement districts to receive same-day results, facilitating quicker and more efficient disease prevention. CEO Dwight Egan highlighted the importance of this growth in combating the spread of mosquito-borne illnesses amid increasing threats from climate change.
Co-Diagnostics, a molecular diagnostics firm, will participate in the FIME 2024 trade show in Miami Beach, Florida from June 19-21. The company, known for its unique, patented platform for developing molecular diagnostic tests, will be hosted at the Utah booth. FIME is a premier medical trade expo attracting over 15,000 professionals and exhibitors from 116 countries. Co-Diagnostics will showcase its new Co-Dx PCR platform, which is under review by the FDA for Over-the-Counter (OTC) clearance. Attendees can visit Booth S61 to learn more about Co-Dx products, including the Co-Dx PCR Pro instrument and associated tests, which are currently under FDA review but not yet available for sale.
Co-Diagnostics (Nasdaq: CODX), a molecular diagnostics company, has submitted its first FDA 510(k) application for the Co-Dx PCR Pro instrument and OTC Co-Dx PCR COVID-19 Test. The application was submitted via the FDA's eSTAR system and acknowledged as received. The Co-Dx PCR platform aims to decentralize gold-standard PCR diagnostics, traditionally found in high-complexity labs, to home and point-of-care settings using a smartphone interface and Co-Primers technology. The company is also preparing to seek point-of-care clearance for the COVID-19 test and has diagnostics for tuberculosis, human papillomavirus, strep A, and a respiratory multiplex in development. CEO Dwight Egan stated this milestone would validate their platform's quality and expedite the completion of tests for other indications and regions.
Co-Diagnostics, Inc. reported its First Quarter 2024 Financial Results, showcasing a revenue of $0.5 million, down from $0.6 million in the prior year. Operating expenses increased by 4.4% due to research and development costs. The company reported an operating loss of $10.3 million and a net loss of $9.3 million. Adjusted EBITDA loss was $8.4 million. Co-Diagnostics highlighted key business highlights, including new executive appointments and facility expansions in Salt Lake and India. The company is focused on FDA submissions for new products and continued test development for various conditions.
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