Stock Alert: Co-Diagnostics Shares Up 26% In Premarket

Shares of Co-Diagnostics Inc. (CODX) are rising above 26% in premarket today, extending the 91% rally in the previous session. The stock has been trading in the range of $0.69 – $21.75 for the past one year, and closed Wednesday’s trade at $13.18, up 6.29 or 91.29%.

Co-Diagnostics was the first U.S. company to receive a CE-mark for a COVID-19 diagnostic test, and is currently shipping orders for its test to countries on 5 continents, including shipments to Italy, the most severely impacted country in the European Union.

The molecular diagnostics company continues to scale up production to meet global demand, and is also seeking emergency use clearance for use as an in vitro diagnostic by the U.S. FDA as well as by the CDSCO in India, both of which are expected to further increase the domestic and international reach of this powerful and cost-effective diagnostic tool.

Co-Diagnostics, today, announced that Dr. Brent Satterfield, Chief Scientific Officer and co-founder of Co-Diagnostics, will address a meeting held by the Bipartisan Commission on Biodefense in Washington, D.C. on March 18, 2020. The focus of the meeting will be to address national biodefense in light of the response to COVID-19, and its implications for preparedness.

The rapid development of the company’s COVID-19 test was made possible by a unique, proprietary design process and patented CoPrimer technology platform that was invented by Dr. Satterfield.

Dr. Satterfield stated, “I am pleased to present the details of the rapid development of our COVID-19 test to the Bipartisan Commission on Biodefense. The Company’s proprietary platform serves as a template to develop other tests needed now, and in the future as new pathogens surface in our interconnected world. Our current test detects COVID-19 with a high level of specificity to distinguish it from similar viruses.”

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