Back to Newsroom
Back to Newsroom

Co-Diagnostics FY2018 Updates Include Revenue, Patents, Regulatory Clearance

Thursday, 04 April 2019 07:50 AM

Co-Diagnostics, Inc.

NEW YORK, NY / ACCESSWIRE / April 4, 2019 / Commercial sales of Co-Diagnostics, Inc., (Nasdaq: CODX) products to Indian distributors commenced earlier this year, according to news released this week following the submission of their annual 10-K SEC filing for FY2018.

The sales in India consisted of primer sets for the non-clinical identification of tuberculosis, malaria, and human papillomavirus (HPV), engineered using Co-Diagnostics' proprietary design process and patented CoPrimer technology, as well as other test reagents and components used in polymerase chain reaction (PCR) testing. The release did not include the amount of revenue since the sales took place in 2019, but that information should be publicly available following their Q1 SEC filing.

In addition to revenues, the release also mentioned other updates from this Utah-based molecular diagnostics company related to their strategic relationships, regulatory clearance, patent approvals, technology advancements, and their financial status. This progress included: 3 products with CE-IVD clearance, a United States patent issuance for their flagship CoPrimer technology, expanded distributor networks, a technology license agreement with LGC Biosearch, initiating the vector (mosquito) control program in the US to accelerate their timeline for domestic revenue, and of course the recent capital raises and debt elimination.

Company CEO underscored the importance of 2018's progress by stating that the milestones validate the uniqueness of their platform and their ability to obtain the clearances required to effectively commercialize their products in several different verticals beyond just infectious disease, made possible thanks to their recent financings that left them sufficiently bankrolled and debt-free. Considering this amount of upward momentum, to say nothing of the $2 price target set by H.C. Wainwright (whose analyst recently initiated coverage of CODX with a Buy rating), it is hard to see yesterday's closing price of $1.13 as anything other than undervalued.

About The Wall Street Club:

The Wall Street Club (WSC) is a financial digital media company whose focus is to provide readers with news and content on the latest trends and happenings in the financial industry. WSC writes about stocks in both free and paid content. WSC accepts sole responsibility for the content and distribution of the foregoing release, which does not contain any previously unpublished non-public information.

Disclaimer

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 Wall Street Club may at times hold a position in the company covered within the article. 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. The Wall Street Club 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 www.sec.gov. Investing in securities is speculative and carries risk.

Press Contact:

The Wall Street Club

www.wallstreetclub.com

[email protected]

SOURCE: Co-Diagnostics, Inc.

Topic:
Company Update
Back to newsroom
Back to Newsroom
Share by: