NEW YORK, NY / ACCESSWIRE / June 4, 2018 / Shares of Co-Diagnostics Inc. was exploding on Friday after the company announced its CoPrimer™ technology is being employed to achieve the objectives of a research project conducted by the Wang Group at Stanford University. Shares of Jaguar Health saw a dip after the company announced a reverse stock split.
RDI Initiates Coverage on:
Jaguar Health, Inc.
Co-Diagnostics, Inc. shares were exploding in Friday trading, closing the day up a little over 65% on almost 21 million shares. Average trading volume for the stock is around 740,000 shares. The diagnostics company with a unique, proprietary platform for the development of molecular diagnostics, announced last week that its CoPrimer™ technology is being employed to achieve the objectives of a research project conducted by the Wang Group at Stanford University. CEO Dwight Egan stated, "We were honored that the Wang Group at Stanford University approached Co-Diagnostics and expressed interest in applying our CoPrimer technology to their endeavors to improve detection of cancer. The ability to multiplex within a single reaction, along with the heightened specificity and allowing for a massive reduction in false positives, are some of the most valuable benefits of this technology, making it ideal for cancer detection and liquid biopsy applications. The continued results of this study will help to further advance the capabilities of our technology and lay the groundwork for products to service these fast-growing markets." The study will look to develop more efficient methods to detect multiple genetic mutations in the EGFR (epidermal growth factor receptor) gene.
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Jaguar Health, Inc. shares closed down 6.65% this past Friday. The commercial stage natural-products pharmaceutical company announced that the Company has effected a reverse stock split of its issued and outstanding voting common stock at an exchange ratio of 1-for-15 on Friday, June 1, 2018. Jaguar Health's Common Stock will begin trading on a split-adjusted basis when the market opens on the Effective Date and will remain listed on The Nasdaq Capital Market under the symbol ''JAGX''. It was also last week that the company announced that it has appointed Robert J. Griffing, an accomplished pharmaceutical and biotech executive, as chief commercialization officer of Napo Pharmaceuticals, Inc. (Napo), the Company's wholly-owned subsidiary focused on human health. Napo is the company behind Mytesi, the only FDA-approved diarrhea treatment that's been studied specifically in adults with HIV/AIDS.
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