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) announced that its CEO, Dwight Egan, will deliver the keynote presentation on the Co-Dx PCR Home™ testing platform at the 4th Annual MarketsandMarkets Infectious Disease Diagnostics and Molecular Diagnostics Conference on March 23, 2023, in London. The company will also host a booth at the event. The Co-Dx PCR Home™ platform is currently undergoing clinical evaluations subject to FDA review and is not yet available for sale. This conference aims to bring together experts in the field of diagnostic research.
Co-Diagnostics, Inc. (NASDAQ: CODX) is set to participate in the 10th Gene Quantification Event from March 20-24, 2023, at the Technical University of Munich. Dr. Carl Wittwer, Chair of the Scientific Advisory Board, will present on 'At-Home PCR Testing for SARS-CoV-2' on March 20 at 2:00 PM. The presentation will highlight the feasibility of the Co-Dx PCR Home™ testing platform for at-home infectious disease diagnosis. This platform is under FDA review and is not yet for sale. The event will cover various topics including SARS-CoV-2 and liquid biopsy, featuring an industrial exhibition showcasing advancements in molecular diagnostics.
Co-Diagnostics, Inc. (NASDAQ: CODX) reported a revenue of $34.2 million for the full year 2022, significantly down from $97.9 million in 2021, primarily due to reduced demand for Logix Smart™ COVID-19 tests. The company faced an operating loss of $27.0 million, compared to an operating income of $46.1 million the previous year. Net loss totaled $14.2 million, translating to a loss of $0.45 per diluted share. Despite these challenges, Co-Diagnostics initiated clinical evaluations for its Co-Dx PCR Home™ platform, signaling a shift towards at-home diagnostics. The company also repurchased 3.9 million shares for approximately $14.2 million.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced it will release its fourth quarter and full year 2022 financial results on March 16, 2023, after market close. A conference call and webcast are scheduled for that day at 4:30 p.m. EDT, featuring CEO Dwight Egan, CFO Brian Brown, and Head of Investor Relations Andrew Benson. Interested participants can join the call via domestic and international lines. A replay will also be available on the company's website for those unable to attend live. Co-Diagnostics specializes in molecular diagnostics and offers innovative technology for nucleic acid analysis.
Co-Diagnostics, Inc. (NASDAQ: CODX) has announced its participation in the 30th Molecular and Precision Med TRI-CON event, taking place from March 6-8, 2023, in San Diego, CA. As a Premier Sponsor, Co-Dx will deliver a Lunch Presentation on March 6 at 11:55 am, highlighting its new Co-Dx PCR Home™ platform, which is currently undergoing clinical evaluations. The company has expanded its Marketing team to prepare for the product's commercialization, pending regulatory approval. TRI-CON serves as a key networking platform for leaders in diagnostics and precision medicine, focusing on innovations in the biotech, healthtech, and medtech sectors.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced its participation in the 89th Annual American Mosquito Control Association (AMCA) conference from February 28 to March 3, 2023, in Reno, Nevada. The event is a key networking opportunity for professionals in mosquito control, where Co-Diagnostics will showcase its vector control PCR products. After a year of growth in laboratory installations and reagent purchases, the Company aims to enhance its market presence. Attendees can visit Booth #107 to learn more about Co-Diagnostics' offerings, including its Vector Smart™ tests. For more details about the conference, visit the AMCA website.
Co-Diagnostics, Inc. (Nasdaq: CODX) announced the start of clinical evaluations for its at-home and point-of-care Co-Dx PCR Home™ platform, including an initial COVID-19 test. These evaluations aim to support submissions for regulatory approvals from the FDA and other bodies. The platform utilizes patented Co-Primer™ technology, offering advanced diagnostics for infectious diseases. No specific timeline for completion has been provided due to required patient enrollment. CEO Dwight Egan emphasized the significance of this milestone, highlighting over two years of R&D and the potential global impact of this innovative diagnostic technology.
Co-Diagnostics, Inc. (Nasdaq: CODX) will host a booth at Medlab Middle East 2023, taking place from February 6-9 at the Dubai World Trade Centre. The event is expected to attract over 20,000 visitors and 700 exhibitors from 40+ countries, highlighting advancements in laboratory technology. This platform allows Co-Diagnostics to showcase its products, including the upcoming Co-Dx PCR Home™ platform, to international customers, particularly in the Middle East, a significant market for the company. Attendees can visit Booth Z1.F51 for more information and product insights.
Co-Diagnostics, Inc. (Nasdaq-CM: CODX) is exhibiting at the 2023 Consumer Electronics Show in Las Vegas from January 5-8. The company will showcase its Co-Dx PCR at-home and point-of-care platform, which is undergoing clinical evaluations prior to FDA submission. Interested attendees can visit Booth #8063 in the North Hall. The Co-Dx PCR platform is currently not for sale and is pending FDA review. Co-Diagnostics specializes in molecular diagnostics technology, focusing on nucleic acid detection for various applications.
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