Co-Diagnostics, Inc., a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was founded in 2013 and is headquartered in Salt Lake City, Utah.
SALT LAKE CITY, April 16, 2020 /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 OralDNA® Labs, a CLIA-certified laboratory, has recently validated a COVID-19 PCR test based on the Company's patented CoPrimer™ technology for use with saline oral rinse samples, and has notified the FDA of their intent to use the validated test in their CAP accredited high-complexity laboratory.
Shares down 12% this morning. Possible result of news that they are being sued yesterday? https://finance.yahoo.com/news/lawsuits-filed-against-codx-fe-181500024.html
http://ir.codiagnostics.com/news-re...stics-inc-announces-q2-2020-results-form-10-q Company continues COVID-19 test sales and reports $24.04 million of revenue in Q2; Net profit of $12.6 million in quarter and net income per common share of $0.43; Stockholders' equity increased to $33.4 million comp... Shares down to low 17's at one point now low 18's. People freaking out because they missed projections, but unless its just my nooby-ness, those numbers look pretty good to me.
Any opinions on this one? It's down to low 15's now. It's been slapped hard since earnings (was $30+ a mere two weeks ago), but essentially it just missed targets, company looks to be extremely successful/profitable, etc etc. Lots of good news out there about them- an FDA approved at-home COVID saliva testing that does not require medical staff to administer test, 70% gross margin on tests, lined up to begin testing LA schools (775k students & faculty), and the selling looks exhausted but its still tanking. I'm unsure what to make of it, exactly.
Yes, this one appears to trending upward (finally). I still see $30+ targets on it and COVID testing (# of tests) expected to rise 10x the current volume as we approach the fall and winter months.
