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-CM: CODX) announced that CEO Dwight Egan will present at the 2nd Annual MarketsandMarkets Infectious Disease Diagnostics and Point-Of-Care Testing Virtual Conference on March 11-12, 2021. Egan's presentation, scheduled for 12:10 pm ET on March 11, will cover the company's rapid PCR point-of-care and at-home testing platform for COVID-19 and other infectious diseases. This platform utilizes Co-Diagnostics' proprietary technology for enhanced testing efficiency. Attendees can register for the conference via the provided link.
Co-Diagnostics, Inc. (NASDAQ-CM: CODX) announced that CEO Dwight Egan will present at the 2021 H.C. Wainwright & Co. Global Life Sciences Conference, held virtually on March 9-10, 2021. Participants can register for the conference and access an archived version of the presentation on the company's website. Co-Diagnostics develops and markets advanced molecular diagnostic technology, focusing on tests that analyze nucleic acids. The company emphasizes its ongoing expansion and the potential for increased sales and distribution of its innovative liquid biopsy tests.
Co-Diagnostics, Inc. (Nasdaq: CODX) introduced a new PCR diagnostic testing platform for Covid-19 suitable for businesses, schools, and homes. This compact device employs a Direct Saliva extraction-free protocol to provide rapid results via a smartphone app. Designed for accessibility, this platform aims to augment traditional testing methods, allowing for affordable, accurate surveillance. Co-Diagnostics plans to expand the device's capabilities to include testing for other pathogens, with regulatory submission expected later this year.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced that its partner, Clinical Reference Laboratory, is offering an FDA-authorized Rapid Response COVID-19 Saliva Test through Walgreens Find Care. This non-invasive service allows consumers to undergo PCR-based COVID-19 testing at home using Co-Diagnostics' CoPrimer technology. The saliva samples are tested for SARS-CoV-2 via CRL's RT-PCR test. CEO Dwight Egan highlighted the importance of expanding accessibility to quality diagnostic solutions through at-home collection devices.
On February 24, 2021, Clinical Reference Laboratory (CRL) partnered with Walgreens to launch the FDA-authorized Rapid Response COVID-19 Saliva Test via Walgreens Find Care. This non-invasive test allows users to self-collect samples at home, boasting 100% sensitivity and specificity. Priced at $119, results are typically available within 24-48 hours. Walgreens aims to enhance access to COVID-19 testing, integrating it into their digital health platform. CRL has distributed over 500,000 tests, affirming its commitment to convenient and reliable testing solutions.
Co-Diagnostics, Inc. (Nasdaq: CODX) has appointed Brian Brown as Chief Financial Officer and Dr. Jesse Montgomery as Chief Scientific Officer, as part of its strategy for growth. Mr. Brown brings extensive financial experience, while Dr. Montgomery has previously served as Senior VP of Biochemistry. The company aims to enhance its financial department and scientific initiatives following significant growth and anticipates further progress in molecular diagnostics. Former CFO Reed Benson stays on as general counsel, and Dr. Brent Satterfield leads the Scientific Advisory Board.
Co-Diagnostics (Nasdaq: CODX) announced its participation in the 28th Annual International Molecular Medicine Tri-Conference, presenting its innovative Logix Smart SARS-CoV-2 DS (Direct Saliva) testing kit for COVID-19. The virtual presentation is scheduled for February 16, 2021, at 4:30 pm EST, including a test demonstration and a Q&A panel. The company aims to improve testing throughput and accessibility through this technology, which has been submitted for Emergency Use Authorization by the FDA. The test detects all known SARS-CoV-2 variants, enhancing global testing capabilities.
Co-Diagnostics (Nasdaq-CM: CODX) announced completion of its FDA submission for Emergency Use Authorization for its Logix Smart™ SARS-CoV-2 DS test, which detects COVID-19 in saliva samples without RNA extraction. This innovation aims to reduce testing costs and processing times, enhancing throughput in high-volume labs. CEO Dwight Egan emphasized the test's potential for quicker and affordable diagnostics, meeting rising global demand amidst the pandemic. The company continues to advance its proprietary technology to improve molecular diagnostics further.
Co-Diagnostics (Nasdaq-CM: CODX) will participate in the H.C. Wainwright & Co. BioConnect 2021 Conference from January 11-14, 2021. CEO Dwight Egan will join a panel hosted by former FDA Commissioner Scott Gottlieb on January 12 at 12:00 pm ET. Registration for the panel is available online. Additionally, Egan will engage in a fireside chat with Yi Chen, which will be accessible on-demand starting January 11 at 6:00 am ET through the Co-Diagnostics website.
The company specializes in molecular diagnostics, focusing on innovative tests for nucleic acid detection.
Co-Diagnostics, Inc. (Nasdaq-CM: CODX) anticipates reporting its highest quarterly revenue in history for Q4 2020, exceeding analyst estimates between $24 million and $25.98 million. This surge is attributed to increased demand for COVID-19 diagnostic products, showing a growth of 20-25% over Q3 2020 revenue of $21.82 million. CEO Dwight Egan highlighted the impact of COVID-19 in driving sales. However, final revenue figures may vary as they are based on preliminary internal financial reports, and readers are cautioned against reliance on forward-looking statements.
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