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) is set to amend its Q2 2020 Form 10-Q due to an incorrectly recorded expense. This amendment will reflect an increase in basic and diluted net income per share to $0.51, up from a previously reported $0.08. The amended report is expected to be filed before the Q3 2020 Quarterly Report. The company focuses on the development of molecular diagnostic tests utilizing its proprietary technology.
Co-Diagnostics (Nasdaq: CODX) announced that Access Genetics' OralDNA Labs received an amended Emergency Use Authorization (EUA) for a COVID-19 RT-PCR test, utilizing Co-Diagnostics' Logix Smart™ COVID-19 kit. This test allows for a saline oral rinse collection, which could enhance testing comfort and accessibility. CEO Dwight Egan noted that this represents the first FDA authorization for a test using oral rinse technology, underscoring the adaptability of the company's CoPrimer™ platform. The announcement highlights the potential for improved community testing.
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.
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