Co-Diagnostics JV Ships Ebola Test Kits for Evaluation, Advances Blood-Borne PCR Assay
CODX sits 63% above its 52-week low of $1.26.
Summary
Co-Diagnostics' Indian joint venture CoSara has shipped Bundibugyo Ebola test kits to a third-party lab for analytical studies, responding to a request from India's C-CAMP. Separately, the company completed a proof-of-concept study for the first blood-borne Ebola test on its Co-Dx PCR Pro point-of-care instrument, expanding the platform beyond swab-based tests. These milestones demonstrate progress in pandemic preparedness and menu expansion, though the PCR platform is not yet authorized for sale. The news follows a series of dilutive financing moves and a going concern warning, but this product development update is a concrete step toward future revenue. No specific regulatory timeline was provided.
At the time of this announcement, CODX was trading at $2.06 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $10.8M. 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.