Co-Diagnostics

Co-Diagnostics, Inc. engages in the development and innovation of molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications. Its diagnostics systems enable very rapid, low-cost, molecular testing for organisms and genetic diseases by automating historically complex procedures in both the development and administration of tests. The company was founded by Brent C. Satterfield and Dwight Howard Egan on April 18, 2013 and is headquartered in Salt Lake City, UT.

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Co-Diagnostics reports Q1 results, focuses on growth and innovation

Co-Diagnostics reported mixed financial results for Q1 2024, with revenue decrease but gross profit increase.
The company is strategically focused on commercialization efforts, product development, and managing expenses for growth.
Despite facing challenges such as net losses and operational complexities, Co-Diagnostics remains optimistic about future opportunities.
With a strong cash position and ongoing FDA submissions, Co-Diagnostics is poised for potential revenue growth and market expansion.

Co-Diagnostics reports Q3 revenue decline, focuses on global expansion

Co-Diagnostics faces financial challenges with a significant net loss in Q3 2024 but maintains a strong focus on advancing its testing platforms and expanding manufacturing capabilities.
Strategic opportunities in international market expansion and test development supported by grants present avenues for growth and market penetration.
Efforts to manage cash position through efficient spending and operational efficiencies underscore the company's commitment to future commercial success.

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Co-Dx receives grant awards from the Bill & Melinda Gates Foundation; NIH RADx® Tech to develop tests on our new Co-Dx PCR Home™ platform SALT LAKE CITY , Aug. 10, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today financial results for the quarter ended June 30, 2023. Second Quarter 2023 Financial Results: Revenue of $0.2 million, down from $5.0 million during the prior year primarily due to the anticipated decline in global demand for the Logix Smart® COVID-19 tests Operating expenses of $11.7 million increased by 42.1% from the prior year same period due to our pre-commercialization investments in our Co-Dx PCR Home platform* Operating loss of $12.0 million compared to operating loss of $4.1 million a year ago Net loss of $8.9 million, compared to net loss of $2.7 million in the prior year second quarter, representing EPS loss of $0.31 per fully diluted share, compared to EPS loss of $0.08 in the prior year period Adjusted EBITDA loss of $9.6 million Repurchased 0.4 million shares of common stock at an average price of $1.51 per share for an aggregate purchase price of approximately $0.6 million Cash, cash equivalents, and marketable securities of $69.1 million as of June 30, 2023 2023 Recent Business Highlights: NIH awarded the Company $1.2 million as part of the Rapid Acceleration of Diagnostics (RADx®) Tech program for completion of its upcoming upper respiratory panel on the Company's Co-Dx PCR Home testing platform The company was awarded two grants by the Bill & Melinda Gates Foundation in the amounts of $1.33 million and $987K, to support the development of TB and HPV tests, respectively Signed lease and began build-out of new manufacturing facility with capacity for up to 12 lines of production; first lines expected to be operational by end of 2023 Received results from a recent usability and analytical study conducted by PATH, which investigated the limit-of-detection and ease-of-use of the Company's Co-Dx PCR Home platform, running the platform's COVID-19 assay Dwight Egan, Co-Diagnostics' Chief Executive Officer, said, "While sales of our COVID diagnostic kits declined as expected, we continue to strengthen our position as we seek to expand our advanced PCR technology reach beyond the four walls of the lab to the places of greatest unmet need.

Co-Diagnostics, Inc. Reports Second Quarter 2023 Financial Results

SALT LAKE CITY , July 27, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today it will release its second quarter 2023 results on Thursday, August 10, 2023, after the market close. The Company will also host a conference call and webcast on the same day at 4:30 p.m.

Co-Diagnostics, Inc. Announces Second Quarter 2023 Earnings Release Date and Webcast

SALT LAKE CITY , July 20, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it is hosting a booth at the American Association for Clinical Chemistry (AACC) annual meeting and expo held July 23-27, 2023 in Anaheim, CA. Co-Dx will also be holding a special milestone presentation and company update to discuss recent grant activity announced earlier this month related to development of the upper respiratory (flu/COVID/RSV), tuberculosis, and HPV tests on its upcoming Co-Dx PCR Home platform.

Co-Diagnostics, Inc. to Host Booth and Discuss Recent Grant Awards at AACC 2023 in Anaheim, CA

The Company intends to use funds awarded by the Bill & Melinda Gates Foundation toward completion of tuberculosis and HPV tests for its Co-Dx PCR Home™ platform  SALT LAKE CITY , July 18, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced grants awarded by the Bill & Melinda Gates Foundation related to the tuberculosis (TB) and human papillomavirus (HPV) tests on the Company's Co-Dx PCR Home™ platform. Co-Dx intends to use funds awarded by the Gates foundation toward completion of TB and HPV tests for its new platform The TB and HPV grants in the amounts of $1.33 million and $987,000 respectively will be applied towards completion of these tests, intended for priority global markets.

Co-Diagnostics, Inc. Announces Recent Grant Awards

The Company intends to use the funds awarded by the National Institutes of Health for completion of its upper respiratory panel multiplex on Co-Dx PCR Home™ platform SALT LAKE CITY , July 13, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it has been awarded $1.2 million in funding from the National Institutes of Health (NIH) as part of the Rapid Acceleration of Diagnostics (RADx®) Tech program for completion of its upcoming upper respiratory panel on the Company's Co-Dx PCR Home™ testing platform. Co-Diagnostics will utilize the funds from the RADx Tech award to complete development of its flu A/B, COVID-19, and RSV multiplex test, preparatory for that test to begin clinical trials on the Co-Dx PCR Home.

Co-Diagnostics, Inc. Awarded Funding for Co-Dx PCR Home Platform from NIH RADx® Tech Program

Co-Diagnostics, Inc. (NASDAQ:CODX ) Q1 2023 Earnings Conference Call May 11, 2023 4:30 PM ET Company Participants Andrew Benson - Head, Investor Relations Dwight Egan - Chief Executive Officer Brian Brown - Chief Financial Officer Conference Call Participants Theodore O'Neill - Litchfield Hills Research Operator Good afternoon and welcome to the Co-Diagnostics' First Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded today.

Co-Diagnostics, Inc. (CODX) Q1 2023 Earnings Call Transcript

Co-Diagnostics, Inc. (CODX) came out with a quarterly loss of $0.20 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to earnings of $0.26 per share a year ago.

Co-Diagnostics, Inc. (CODX) Reports Q1 Loss, Lags Revenue Estimates

Clinical trials for Co-Dx PCR Home™ platform remain on track; Solid cash position and grant funding support long-term strategy SALT LAKE CITY , May 11, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today financial results for the quarter ended March 31, 2023. First Quarter 2023 Financial Results: Revenue of $0.6 million, down from $22.7 million during the prior year primarily due to lower global demand for the Logix Smart™ COVID-19 tests Gross profit of $0.1 million, representing 16.6% of consolidated revenue Operating loss of $10.0 million compared to operating income of $9.8 million a year ago, due to lower revenue and continued investments into research and development for the Co-Dx PCR Home™ Platform Net loss of $5.8 million, compared to net income of $11.7 million in the prior year, representing EPS loss of $0.20 per fully diluted share, compared to EPS of $0.34 in 2022 Adjusted EBITDA loss of $7.2 million Repurchased 0.3 million shares of common stock at an average price of $1.56 per share for an aggregate purchase price of approximately $0.5 million Cash, cash equivalents, and marketable securities of $75.3 million as of March 31, 2023 Dwight Egan, Co-Diagnostics' Chief Executive Officer, said, "Our financial performance during the quarter reflects the expected decline in COVID-related sales year-over-year.

Co-Diagnostics, Inc. Reports First Quarter 2023 Financial Results

SALT LAKE CITY , May 9, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it is hosting a booth at Argentum's 2023 Senior Living Executive Conference and Expo, being held May 8-10 in New Orleans, LA. The conference is the official meeting of Argentum, the leading national association exclusively dedicated to supporting companies operating professionally managed, resident-centered senior living, and is described as an opportunity to connect with thousands of executives and experts in the senior living space, with over 750 exhibiting companies and thousands of participants.

Co-Diagnostics, Inc. to Host Booth at Senior Living Executive Conference in New Orleans, LA

SALT LAKE CITY , May 5, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today it will release its first quarter 2023 results on Thursday, May 11, 2023, after the market close. The Company will also host a conference call and webcast on the same day at 4:30 p.m.

Co-Diagnostics, Inc. Announces First Quarter 2023 Earnings Release Date and Webcast

SALT LAKE CITY , April 26, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be hosting a booth at the Caribbean Public Health Agency (CARPHA) 67th Annual Health Research Conference, being held in-person April 27-29, 2023, in the Bahamas. The CARPHA Annual Health Research Conference is the largest health research conference in the English-speaking Caribbean and the longest-running health research Conference in Latin America and the Caribbean region, with the goal of facilitating and promoting communication and sharing of scientific outputs among health scientists, policymakers, and related professionals in the wider Caribbean Region.

Co-Diagnostics, Inc. to Host Booth at 67th Annual CARPHA Conference April 27-29

SALT LAKE CITY , April 13, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be hosting a booth at the 33rd European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) April 15-18, 2023, in Copenhagen, Denmark.

Co-Diagnostics, Inc. to Host Booth at ECCMID 2023 April 15-18 in Copenhagen, Denmark

SALT LAKE CITY , March 21, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that the Company CEO will deliver the keynote address at the 4th Annual MarketsandMarkets Infectious Disease Diagnostics and Molecular Diagnostics Conference, held March 23-24, 2023, in London, England, where the Company will also be hosting a booth. Dwight Egan, CEO of Co-Diagnostics, will be delivering the keynote presentation on the Company's upcoming Co-Dx PCR Home™ testing platform at 9:10 am local time on March 23.

Co-Diagnostics, Inc. to CEO to Deliver Keynote Address at 2023 MarketsandMarkets Conference in London, England

Chair of Company's SAB, Dr. Carl Wittwer, to present on at-home PCR testing SALT LAKE CITY , March 17, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be hosting a booth at the 10th Gene Quantification Event held March 20-24 at the Technical University of Munich. Dr. Carl Wittwer, Chair of the Company's Scientific Advisory Board (SAB) will also be presenting at the event.

Co-Diagnostics, Inc. to Host Booth at 10th Gene Quantification Event in Munich, Germany, March 20-22

Co-Diagnostics, Inc. (CODX) delivered earnings and revenue surprises of -113.33% and 74.53%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Co-Diagnostics, Inc. (CODX) Reports Q4 Loss, Misses Revenue Estimates

Co-Diagnostics, Inc. (NASDAQ:CODX ) Q4 2022 Earnings Conference Call March 16, 2023 4:30 PM ET Company Participants Andrew Benson - Head of Investor Relations Dwight Egan - Chairman, President and Chief Executive Officer Brian Brown - Chief Financial Officer Conference Call Participants Yi Chen - H.C. Wainwright Theodore O'Neill - Litchfield Hills Research Operator Good afternoon, and welcome to the Co-Diagnostics, Inc. Fourth Quarter and Full Year 2022 Earnings Results Conference Call.

Co-Diagnostics, Inc. (CODX) Q4 2022 Earnings Call Transcript

Full-year Results Impacted by Lower Demand for COVID-19 Testing Announced Initiation of Clinical Evaluations for Co-Dx PCR Home™ Platform SALT LAKE CITY , March 16, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today financial results for the full year ended December 31, 2022. Full Year 2022 Financial Results: Revenue of $34.2 million, down from $97.9 million during the prior year primarily due to lower global demand for the Logix Smart™ COVID-19 tests Gross profit of $28.7 million, representing 84.0% of consolidated revenu Operating loss of $27.0 million compared to operating income of $46.1 million a year ago, due to lower revenue, goodwill impairment charges, and continued investments into research and development for the Co-Dx PCR Home Platform Net loss of $14.2 million, compared to net income of $36.7 million in the prior year, representing loss of $0.45 per fully diluted share, compared to $1.23 in 2021 Adjusted net income, net of goodwill impairment charges, of $1.2 million, compared to adjusted net income of $36.7 million in the prior year, representing adjusted income of $0.04 per fully diluted share, compared to $1.23 in 2021 Adjusted EBITDA loss of $3.1 million Repurchased 3.9 million shares of common stock at an average price of $3.66 per share for an aggregate purchase price of approximately $14.2 million Cash, cash equivalents, and marketable securities of $81.3 million as of December 31, 2022 Cash flow from operations of $6.6 million for the twelve months ended December 31, 2022 Dwight Egan, Co-Diagnostics' Chief Executive Officer, said, "The impact of COVID-19 on society decreased considerably during the second half of the year, and resulted in lower demand for high-throughput testing at the centralized lab level.

Co-Diagnostics, Inc. Reports Full Year 2022 Financial Results

SALT LAKE CITY , March 9, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today it will release its fourth quarter and full year 2022 results on Thursday, March 16, 2023, after the market close. The Company will also host a conference call and webcast on the same day at 4:30 p.m.

CO-DIAGNOSTICS, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2022 EARNINGS RELEASE DATE AND WEBCAST

SALT LAKE CITY , March 2, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be hosting a booth at the 30th Molecular and Precision Med TRI-CON ("TRI-CON"), held virtually and in person March 6-8, 2023, in San Diego, CA. Co-Dx, which is also one of two Premier Sponsors of the event, will also be delivering the Lunch Presentation on Monday, March 6 at 11:55 am, focusing on its upcoming at-home/POCT Co-Dx PCR Home™ platform for which the initiation of clinical evaluations was recently announced.

Co-Diagnostics, Inc. to Present and Host Booth at TRI-CON in San Diego, CA, March 6-8

SALT LAKE CITY , Feb. 28, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be hosting a booth at the upcoming 89th annual American Mosquito Control Association (AMCA) conference on February 28-March 3 in Reno, Nevada. The AMCA Annual Meeting is listed as the premier education and networking event for researchers, educators, vector control professionals, industry representatives, and students in mosquito control.

Co-Diagnostics, Inc. to Host Booth at 89th Annual AMCA Conference in Reno, NV on Feb 28-March 3

SALT LAKE CITY , Feb. 22, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced that it has commenced clinical evaluations for its at-home and point-of-care Co-Dx PCR Home™ platform and initial COVID-19 test, consisting of the clinical trials and analytical studies that are expected to support submissions to the United States FDA and other regulatory bodies. The Company's real-time PCR platform has been developed for detection of infectious diseases in at-home and point-of-care settings, with anticipated multiplex panels to follow after receipt of the platform's initial regulatory authorization.

Co-Diagnostics, Inc. Initiates Clinical Evaluations for its At-Home and Point-of-Care Co-Dx PCR Home™ Platform

Wilmington, Delaware--(Newsfile Corp. - February 7, 2023) - Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Co-Diagnostics, Inc. (NASDAQ: CODX) on behalf of stockholders.To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-co-diagnostics-inc.To contact Seth D. Rigrodsky or Gina M. Serra cost free, call or text (302) 295-5310 or email info@rl-legal.com.Rigrodsky Law, P.A.

SHAREHOLDER ALERT: Rigrodsky Law, P.A. Is Investigating Co-Diagnostics, Inc.

SALT LAKE CITY , Feb. 2, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be hosting a booth at the upcoming Medlab Middle East 2023 trade show held February 6-9 at the Dubai World Trade Centre. It is expected that the 22nd edition of the conference will host over 20,000 visitors and more than 700 exhibitors from over 40 countries, catering to the global medical laboratory community and showcasing the latest in laboratory innovation and technology.

Co-Diagnostics, Inc. to Host Booth at Medlab Middle East 2023 in Dubai on February 6-9

Designed using the Company's proprietary platform, initial test design remains effective detection tool even after three years of variants and more than 33 million sold worldwide; Company also announces participation in Life Sciences Day on the Hill on Jan 27 SALT LAKE CITY , Jan. 24, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq-CM: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, yesterday commemorated the third anniversary of the completion of the principal design work of a Co-Primers™ PCR test for what was, on January 23, 2020, still known as 2019-nCoV, or the novel coronavirus. The initial design was rapidly completed using the Company's proprietary Co-Dx™ Design platform.

Co-Diagnostics, Inc. Commemorates Third Anniversary of the Completion of its First COVID-19 Test Design

SALT LAKE CITY , Nov. 30, 2022 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq-CM: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that Co-Diagnostics will be presenting on December 1, 2022, at the Piper Sandler 34th Annual Healthcare Conference, held November 29-December 31, 2022, in New York City, New York. Dwight Egan, Company CEO, and Dr. Kirk Ririe, President of the Company's subsidiary, will be conducting a presentation discussing recent and expected Company progress along with its forthcoming Co-Dx PCR diagnostic platform.

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