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Co Diagnostics Declines Almost 10%, Posts Q3 Results

Co-Diagnostics Inc. (Nasdaq: CODX) a molecular diagnostics business having a unique, patented platform for the development of molecular diagnostic tests, announced today financial results for the 3rd quarter finished September 30, 2020 and supplied updates on Company developments, including receipt of CE markings for both the recently developed Logix Smart ABC (Influenza A/B, SARS-CoV-2) test kit for simultaneous detection of Influenza the, Influenza B, and SARS-CoV-2 and Logix Smart SARS-CoV-2 (genes RdRp/E) multiplex test kit for detection of SARS-CoV-2, the herpes virus that triggers COVID-19.

Company announced that its partner Clinical Reference Lab has started selling its CRL Rapid Response™ COVID-19 test straight to customers, which runs on the saliva that is simple unit that may be self-administered in the home, work or every other environment. The test utilizes CoPrimer™ probes and primers manufactured by Co-Diagnostics with high levels of specificity and sensitiveness;

Company receives patent that is increased from the United States Patent and Trademark Office for the novel CoPrimer™ technology found in the Company’s molecular diagnostic tests;

Business shows that the CoPrimer platform technology could be used to recognize the presence of SARS-CoV-2 in individual saliva examples without very first needing expensive and RNA that is time intensive extraction and plans development jobs to add extraction-free services and products in upcoming offerings.

Co-Diagnostics continues to see extensive uptake of our COVID-19 test domestically and abroad, and we believe our customer and supplier bases are laying the foundation for a future that is strong” said Dwight Egan, Chief Executive Officer. “Development projects both completed and ongoing have aided place Co-Diagnostics as a key player in the battle contrary to the coronavirus pandemic, including receipt today of two important CE markings which will enable our ABC and COVID-19 2-gene tests to be sold like in vitro diagnostics in areas that accept CE markings as valid approval that is regulatory. The strength and freedom of our technology platform as illustrated by our improved patent protection and effective proof of concept in extraction-free COVID-19 tests underscore our core competency as a technology that is forward-looking by having a expanding menu of critical diagnostic tools.”

Today the Company will host an profits call at 4:30 pm EDT. Individuals can create usage of the webcast right here. The call will later be recorded making available in the business’s internet site. Co-Diagnostics Inc. (Nasdaq: CODX) a molecular diagnostics.


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