Co-Diagnostics (NASDAQ:CODX) Continuing to Expand and Evolve to Meet Global Challenges

New York, New York, UNITED STATES

New York City, April 17, 2020 (GLOBE NEWSWIRE) -- Co-Diagnostics (NASDAQ:CODX) Continuing to Expand and Evolve to Meet Global Challenges

Co-Diagnostics (NASDAQ:CODX), with its unique, patented polymerase chain reaction (“PCR”) testing technology, saw its stock increase over 40% yesterday.  Hardly surprising: Unemployment is skyrocketing, while policymakers across countries race to implement fiscal and monetary measures to alleviate the financial burden on citizens and shore up economies under severe strain. The IMF even suggested that the pandemic had instigated an economic downturn the likes of which the world has not experienced since the Great Depression.

It is no surprise that governments are realising that the only way out of the horrendous cost of the lock down measures is through rigorous mass testing.

Mass testing (for both infection and immunity) will allow healthy people return to work and those who are infected get appropriate treatment. For this, countries will need adequate supplies of testing kits.

One major hurdle in enabling mass testing and treatment had been the supply of the swabs used for collecting nasopharyngeal samples. The main manufacturer of swabs, Copan, is based in Northern Italy. With closed borders, supply chains have suffered. This makes Co-Diagnostics’ news yesterday—namely, that its technology has been validated on samples other than those collected solely by nasal swabs—highly significant.

OralDNA Labs recently informed the U.S. Food and Drug Administration (FDA) that it has validated and plans to use a test powered by Co-Diagnostics in its lab.

Using saliva completely changes the testing landscape. For saliva tests individuals need only "swish and gargle," meaning less invasive and faster testing. This is an important step to achieving rigorous mass testing.

In terms of testing capacity and speed it should be noted that while other tests such as  Abbot’s purport that they can detect positive results in 5 minutes and negative in 13 minutes, that is in a point of care setting, such as a doctor’s office or hospital bedside.  At optimal performance each machine may run 10 or so tests in an hour, which may indeed be beneficial such an environment; however, in order to meet global demand of high-throughput testing, an alternative like Co-Diagnostics’ Logix Smart COVID-19 kit could potentially play a significant role as their tests can provide results for up to 46 tests in 90 mins on a single machine.  This would be necessary to make the most of the increase in sample collection that saliva testing could bring to the table.

While the Covid-19 outbreak has been responsible for the share price rocketing, opinion from some sources suggesting that the stock is trading higher than it should ignore the true extent of the current crisis -  Covid-19 is an insidious part of our lives until a vaccine is not only developed, but also administered on an exceptionally wide, global scale.  With estimates ranging from 12 to 18 months, there is lot of testing to be done to ensure that we can go about our lives with some semblance of normality.

The battle against coronavirus is entering the next phase. Widespread testing and tracing capabilities are critical to easing lockdowns, restarting the economies and giving people hope. Placing limits on the company, its stock, or revenue is therefore premature at this stage with the share price still well short of H.C. Wainwright’s target of $20.

Disclosure: Co-Diagnostics Inc is a client of BDA International.

About BDA International, Inc.:

BDA International is an independent global Investor Relations firm offering a wide range of IR-related analysis, research and advisory services. In particular, we provide and are compensated for service packages that include strategic action plans and investor/market perception studies to help entities improve communication with customers and investors, and to increase their visibility. BDA International has received no direct compensation related to this release but its principles hold shares of client companies in our personal portfolios, including CODX. BDA International accepts sole responsibility for the content and distribution of the foregoing release, which does not contain any previously unpublished or non-public information. Parties interested in learning more about the relationship between BDA and CODX may do so via the contact information at the bottom of this release.


The information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained in this analysis reflect our current judgment and are subject to change without notice. We do not accept any responsibility or liability for any losses, damages or costs arising from an investor’s or other person’s reliance on or use of this analysis. This analysis is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities, nor a recommendation of any security, although members of the BDA may at times hold a position in the company covered within the article. Co-Diagnostics is a client of BDA International. Past gains are not a representative of future gains. The opinions herein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plans,” “should,” “potential,” “forecast,” and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. A company’s actual results could differ materially from those described in any forward-looking statements contained herein. BDA is not a licensed broker, broker dealer, market maker, investment advisor, analyst or underwriter. We recommend that you use the information found herein as an initial starting point for conducting your own research in order to determine your own personal opinion of the companies discussed herein before deciding whether or not to invest. You should seek such investment, tax, financial, accounting or legal advice appropriate for your particular circumstances. Information about many publicly traded companies and other investor resources can be found at Investing in securities is speculative and carries risk.

Investor Relations Contact:

Mushtaq Dost                                                                      

BDA International