Co-Diagnostics JV Initiates Clinical Studies for TB Test in India, Deploying PCR Platform
CODX has more than doubled off its 52-week low of $1.26.
Summary
Co-Diagnostics' Indian joint venture CoSara has started clinical studies for a tuberculosis test on its PCR Pro platform, with instruments and kits now deployed to select labs across India. This is a concrete step toward commercialization in a country with one of the world's highest TB burdens. The move follows earlier shipments of instruments and kits, and comes as the company faces a going concern warning and has been raising capital through deeply discounted offerings. Successful clinical data could open a significant revenue stream and validate the platform in a key market, but regulatory approval and commercial uptake remain uncertain. The company's cash position is precarious, so any path to revenue is critical.
At the time of this announcement, CODX was trading at $2.53 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $12.5M. The 52-week trading range was $1.26 to $46.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.