New York City, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Shares of Co-Diagnostics, Inc. (CODX), a biotech company with a patented platform for the development of molecular diagnostic tests, leaped 175+% in premarket trading today after announcing it is readying its screening test for the deadly, rapidly spreading new coronavirus.
As governments across the world take precautions to limit exposure to the outbreak, especially China (who just announced the quarantine of a FIVE large cities to try and contain the coronavirus with more than 600 confirmed cases and at least 17 dead), Co-Diagnostics announced that it used its proprietary design platform to quickly design a PCR testing kit that will help in detecting the specific strain of virus in a patient.
One of the fundamental problems that health authorities have at the moment is being able to properly diagnose and treat people. There are a number of strains of coronavirus with hard to distinguish genetic differences, and a test designed for MERS and SARS – other coronaviruses, similar to the new strain, 2019n-CoV – would fail to accurately diagnose a patient with 2019nCoV.
Co-Diagnostics Ahead of its Competitors
In reality there are 6 types of coronavirus that can affect humans. With it taking up to a week for symptoms to start appearing, the world could potentially be on a brink of a global outbreak, with the World Health Organization on the cusp of calling it an global health emergency.
The best way to confront this threat is through accurate diagnosis.
That’s why Dwight Egan, Co-Diagnostics CEO, said that the company is working hard and has already completed initial design work on an accurate diagnostic test to detect the new strain of coronavirus, differentiating it from other similar viruses.
The market certainly responded positively to the notion that Co-Diagnostics could be on the vanguard to providing a solution to a potential international emergency; after jumping over 175% in pre-market trading, the stock price is currently trading up comfortably over 70%, on 30 million shares—a noticeable jump from the 116,000 average volume before releasing such momentous news!
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 www.sec.gov. Investing in securities is speculative and carries risk.
Investor Relations Contact: