|Bid||17.75 x 800|
|Ask||17.70 x 1000|
|Day's Range||17.25 - 17.56|
|52 Week Range||0.69 - 29.72|
|Beta (5Y Monthly)||-1.54|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 14, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||19.00|
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that Company CEO Dwight Egan has been invited to present at The Role of Cell Therapy & Clarity on Testing COVID-19 virtual conference, presented by Maxim Group and M-Vest on Wednesday May 27th, 2020.
Co-Diagnostics (CODX) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today the publication of a paper showing its Logix Smart™ COVID-19 Test Kit was used to demonstrate that the SARS-CoV-2 virus can be detected in cancer tissue of coronavirus patients, even before symptoms occur.
The novel coronavirus pandemic has wreaked havoc on markets, and just when stocks are into recovery mode, we have the specter of a recession to reckon with. If not an outright depression. That's going to cause challenges for many sectors. However, if there's a bright spot in all this, it's biotech stocks.With the scramble for viral and antibody testing kits, and the ultimate goal of finding a vaccine for Covid-19, many biotech companies are suddenly in the spotlight. Even those that aren't directly working on a Covid-related solution look more attractive. Besides the entire industry getting more attention than usual, investors know they're less at risk of a consumer spending crunch that could hit tech companies like Apple (NASDAQ:AAPL). * 10 of the Best Long-Term Stocks to Buy in This Bear Market With that lead-up, here are seven biotech stocks that are positioned to pay off nicely.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Co-Diagnostics (NASDAQ:CODX) * iBioPharma (NYSE:IBIO) * Moderna (NASDAQ:MRNA) * Biogen (NASDAQ:BIIB) * Gilead Sciences (NASDAQ:GLID) * Vertex Pharmaceuticals (NASDAQ:VRTX) * Inovio (NASDAQ:INO)Some have seen their share price explode this year based on their Covid-19 involvement. Even so, that would just be the start should their research pay off. Biotech Stocks to Buy: Co-Diagnostics (CODX)Source: Shutterstock You may have read my recent overview of Co-Diagnostics. This Utah-based biotech company has posted amazing growth in 2020 on the strength of its Logix Smart Covid-19 test kit. Doctors quickly learned that symptoms aren't a reliable way to determine if someone is infected with Covid-19. Accurate and fast testing for Covid-19 infections is critical to determining whether someone needs to be isolated and/or hospitalized for treatment. As the country begins to re-open, testing becomes even more critical as medical authorities monitor for potential second waves of the pandemic. Looking into the future, testing is still going to be important for years -- even if a vaccine is developed.Co-Diagnostics is one of the leading providers of Covid-19 test kits, and it's selling them to states faster than it can make them. That's over 6 million to date, with production going full blast to manufacture another 20 million tests just to keep up with current and short-term demand. CODX stock is up over 1,900% to this point in 2020, with no signs of running out of steam. iBioPharma (IBIO)Source: Shutterstock IBIO is one of the companies on the cutting edge of Covid-19 vaccine research. On March 26, the company announced its IBIO-200 vaccine candidate was being fast-tracked to pre-clinical immunization studies at Texas A&M University System's ("TAMUS") laboratories. * 7 Sluggish Stocks Hit Hard by Coronavirus This Earnings Season On April 27, the company announced the impressive scale of its manufacturing capability, should its vaccine prove to be effective:"If our own proprietary SARS-CoV-2 Virus-Like Particle ("VLP") program, IBIO-200, results in an approved vaccine, we estimate that we could make about 500 million doses of high-quality product annually at our Texas facility, depending upon the potency we see in the clinic."IBIO shares are up over 1,200% so far in 2020, but that would be a drop in the bucket should its IBIO-200 vaccine succeed. Moderna (MRNA)Source: Shutterstock Moderna is another play on the race for a Covid-19 vaccine. The American biotech company has been focused on mRNA therapy -- modifying the body's RNA to treat conditions including cancer, cardiovascular disease and infectious diseases.That is exciting in itself, but it's the infectious diseases angle that has investors watching closely. Moderna's mRNA-1273 is a candidate as a Covid-19 vaccine, and it has potential. On May 18, the company announced positive results for Phase 1 testing of the vaccine, led by the National Institute of Health. These trials showed the subjects had antibody levels at or above levels measured in recovered Covid-19 patients, without showing serious side effects.That news caused MRNA to rocket 29% in a single day of trading, and it's now up 279% so far in 2020. BioGen (BIIB)Source: Pavel Kapysh / Shutterstock.com BioGen is a biotech company based in Cambridge, Massachusetts. You may recall the name from 2019. BIIB stock tanked in March 2019, falling 29% in its worst day of trading ever, after news broke that it was ending trials for a blockbuster Alzheimer's drug called Aducanumab.Fast forward a year, and BioGen is in the hunt for a Covid-19 treatment, in partnership with Vir Biotechnology Inc (NASDAQ:VIR). In March, it was announced the two companies are working on developing antibodies as potential treatments for Covid-19. BIIB stock has been on a roller coaster this year -- although it has still managed to post modest 5% growth -- but there are two prizes in play. First, that Vir partnership could pay off. And second, Aducanumab (the Alzheimer's drug) is back in play. The company announced new phase 3 clinical trials in January. Those were subsequently pushed to the third quarter (news that the market didn't take kindly to), but the new clinical trials raise hope that the company has a winner in Aducanumab. * 7 Dow Jones Stocks to Buy With Fortress-Like Balance Sheets With nearly 50 million people currently suffering from Alzheimers worldwide, the potential payoff for Aducanumab is massive. Gilead Sciences (GLID)Source: Casimiro PT / Shutterstock.com Regular readers know that Gilead Sciences is considered a strong buy right now. This biotech company was the first to get government approval for a coronavirus treatment.On May 1, FDA-approval was issued for use of Gilead's remdesivir drug for treatment of Covid-19. Remdesivir may not be a miracle cure, but clinical trials show it has reduced the recovery time required for some patients. With many hospitals facing bed shortages, anything that reduces the time Covid-19 patients spend there is a big win, and Gilead has donated 1.5 million vials of the drug.The Institute for Clinical and Economic Review (ICER) -- a pharma industry watchdog -- recently assessed the fair sticker price for remdesivir therapy at up to to $4,460 per patient. That has real potential upside for GLID stock. If the success continues and remdesivir becomes a go-treatment for Covid-19, Piper Sandler analysts project it could generate up to $2 billion in revenue for Gilead in 2020 alone -- even after giving away those 1.5 million doses.At this point, GLID stock has posted 13% growth so far in 2020, even though it is down significantly from its $84 close (a two-year high) on April 30. Vertex Pharmaceuticals (VRTX)Source: Shutterstock Boston-based Vertex has posted 30% growth so far in 2020. This biopharmaceutical company isn't focused on Covid-19 research. So why is VRTX seeing a growth spurt?It isn't. Unlike many of the biotech and pharmaceutical companies that are suddenly seeing big gains in anticipation of a payoff from coronavirus-related projects, Vertex has been on a steady growth path since 2017, and especially since the fall of 2019. That's continuing into 2020.The company sells three different drugs for the treatment of cystic fibrosis, and all but owns that market. The latest treatment from Vertex -- Trikafta -- was approved by the FDA last October, and is applicable to 90% of global CF patients. Thus the accelerated pace of growth for VRTX stock starting last October. * 7 Tech Stocks That Are Bolstered by Contact Tracing Initiatives With revenue up 77% in the first quarter, Vertex upped its full-year-revenue projections, when so many other companies have been busy slashing them. Inovio (INO)Source: Shutterstock Finally, Inovio, another biotech company that's gotten the nod here before.This is a company with a proven record of quickly bringing effective solutions to market for vexing diseases. This includes having a treatment to clinic for Ebola in 15 months, nine months for MERS and, six and a half months for Zika.Is Inovio on the hunt for a coronavirus vaccine? You bet! The company currently has 40 humans enrolled in a phase 1 clinical trial, with preliminary data expected to be seen in June. Those trials have big backers, by the way, with both the Department of Defense and The Bill & Melinda Gates Foundation ponying up millions to accelerate testing.INO stock has performed very well in 2020, posting gains over 390%.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post 7 Top-Rated Biotech Stocks to Buy on the Hunt for a Vaccine appeared first on InvestorPlace.
Vanderbilt University School of Medicine,Professor of Medicine in the Division of Infectious Diseases Dr. William Schaffner joins Yahoo Finance’s Seana Smith to discuss the coronavirus, as a quarter of Americans say they are nervous about a vaccine, according to a new Reuters/Ipsos poll.
We're starting to see a little light at the end of the coronavirus tunnel. State economies are slowly reopening and the market has recovered mightily from March's historic losses.It's true that as we go forward, the lingering effects of stay-at-home orders, a spiking unemployment rate and desperate stimulus measures make for record uncertainty. But we are also starting to understand which types of stocks ought to benefit when the crisis is resolved. * 7 Excellent Penny Stocks Ready to Roar Here are 7 of the top-rated stocks to buy for a post-crisis rally:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Co-Diagnostics (NASDAQ:CODX) (A) * Humana (NYSE:HUM) (A) * iBio (NYSE:IBIO) (A) * Moderna (NASDAQ:MRNA) (A) * Alibaba (NYSE:BABA) (B) * Square (NYSE:SQ) (B)Four of these stocks hold "A" ratings on my Portfolio Grader, while two hold "B" ratings. All make smart buys here. Co-Diagnostics (CODX)Source: Shutterstock If you're looking for a post-crisis bump, no list of stocks to buy would be complete without somehow representing the healthcare sector.Enterprising investors should consider CODX as we transition to a new era. Regardless of one's personal thoughts on how to best handle the days ahead, one thing is certain: testing will be absolutely central to any return to normal.For reasons both scientific and psychological, the widespread demand for Covid-19 testing is one of the only givens in these uncertain times. CODX, a previously little-known diagnostics company, was founded in 2013 with a focus on the sale of reagents needed for coronavirus tests.Although Co-Diagnostics shares fell after the most recent earnings report, the roughly $600 million CODX, which has been increasingly watched by investors, makes test kits that should be an important part of re-opening the U.S. economy in 2020, even if accuracy doesn't hit the 100% level the company has claimed.Rating: (A) Humana (HUM)Health insurer Humana has been absolutely shining in 2020, despite the novel coronavirus wreaking havoc across the economy. Shares are up more than 60% year-to-date, and the Louisville, Kentucky-based health plan giant is coming off a killer first-quarter earnings report.In sharp contrast to rivals like Anthem (NYSE:ANTM), which recently withdrew its full-year 2020 guidance, Humana posted blowout Q1 earnings. The company reported revenue of $18.93 billion against analyst expectations for $18.38 billion. On the earnings per share (EPS) side, HUM stock reported EPS of $5.40 versus the $4.84 consensus expectation.The top- and bottom-line beats were also accompanied by an optimistic outlook for the rest of 2020; Humana guided for EPS between $18.25 and $18.75, for a median of $18.50, above the $18.44 per share consensus expectations. * 7 Excellent Penny Stocks Ready to Roar Rating: (A) iBio (IBIO)Source: Shutterstock If there is a coronavirus vaccine, the small-cap biotech iBio could end up being a major beneficiary. Although certainly more speculative in nature than a stock like Humana, the roughly $100 million IBIO could see shares continue to surge when a vaccine is rolled out. Shares of IBIO have already jumped about 500% in 2020, but there's still upside to be had.That's because the company is boasting capacity of about 500 million doses should their much-anticipated vaccine come to fruition. Few investors take the time to think through not just the companies that are researching the vaccine itself, but those that will be necessary to manufacture and distribute the vaccine.The New York, New York-based IBIO has a Texas manufacturing facility that should be able to make 500 million doses of a vaccine annually -- the sort of capacity necessary when a vaccine is invented. In theory, this should be enough capacity to supply and vaccinate not just all of the U.S. (328 million people), but also the entire populations of Mexico (126 million) and Canada (38 million).Rating: (A) Moderna (MRNA)Source: Shutterstock The source of some major market-moving news in recent days, Cambridge, Massachusetts-based Moderna is a clinical biotechnology company. As its ticker indicates, it uses messenger RNA (mRNA) in vaccines and other treatments for infectious diseases.Promising early results in a coronavirus vaccine trial in human patients vaulted MRNA shares to all-time highs and helped send the entire market higher to boot. The phase one trial included 45 participants and saw the production of antibodies in 100% of them, a very encouraging sign as the entire world races to come up with an efficacious vaccine that can be manufactured and distributed at scale. * 7 Excellent Penny Stocks Ready to Roar Rating: (A) Alibaba (BABA)Source: BigTunaOnline / Shutterstock.com Who would've thought that one of the largest companies in China would be listed as one of the best stocks to buy in a post-crisis rally? Although Wuhan, China, was the early epicenter of the global pandemic, China's swift moves to lockdown its sprawling country and rapidly rollout contact tracing mitigated the harm of the pandemic.And BABA stock, for its part, has held up quite well. Like its closest American counterpart Amazon.com (NASDAQ:AMZN), Alibaba has actually leveraged it large market share and impressive logistics network to cement its status as a powerhouse in e-commerce, which has gotten an obvious boost as mandated lockdowns dried up demand across Chinese brick-and-mortar retailers.Trading at 22 times earnings and with a market cap above $500 billion, BABA offers a unique combination of size, growth and affordability. On the growth side, it saw revenue jump 38% last quarter and earnings per share increase 55%.Rating: (B) Square (SQ)Source: Jonathan Weiss / Shutterstock.com Last but not least, payments company Square rounds out our list of the top-rated stocks to buy when the crisis resolves.The provider of point-of-sale solutions for businesses has been a growth stock for some time now, and its solutions include contactless payments -- something that should doubtlessly gain share in the months and years ahead as the pandemic changes consumer behavior.Revenue has grown at a 41% clip over the last five years, and analysts expect profits to be the next metric to really take off in coming years, with consensus expectations calling for a 31% compound annual growth rate in earnings per share over the next five years. * 7 Excellent Penny Stocks Ready to Roar Rating: (B)Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post 6 Top-Rated Stocks for a Post-Coronavirus-Crisis Bump appeared first on InvestorPlace.
It claims its Logix antibody test is 100% accurate, and investors have bid its stock up in consequence. However, even a 2% rate of false positives could be a huge problem for the test and the stock.
At its worst on March 23rd, Dow Jones and the S&P declined by around 37% and 34%. At the time, those kinds of numbers represented a loss of a 3-year gain since Trump’s election in November of 2016. Measured by VIX, market volatility spiked by 43% in March, reaching levels that are comparable to the […]
Coronavirus fears have triggered volatility, a correction and ultimately a bear market in U.S. stocks in 2020. Many companies have suffered massive price drops, but a handful of stock picks have seen their prices hold up - and in some cases even soar. One such cluster includes pharmaceutical companies and other health care stocks that are in the race to develop COVID-19 coronavirus vaccines and therapeutics.You can't overstate the stakes. As of March 11, there were 4.7 million officially recorded coronavirus cases worldwide, causing more than 316,000 deaths. The World Health Organization (WHO) officially broke out the "pandemic" designation, and governments across the world shut down mass gatherings of people to slow the spread.The idea behind these moves? Buy time for pharmaceutical companies to come up with antivirals and vaccines.Dozens of Big Pharma and small biotechnology companies alike are already involved in COVID-19 coronavirus treatment and vaccine development. But other health care stocks are rising to the challenge, too: Makers of diagnostic test kits, sanitizers and protective masks are all ramping up to meet unprecedented demand.Here are 10 health and pharmaceutical companies playing a role in the fight to control the COVID-19 coronavirus, including several updates to reflect some treatments' progress. Each of these stocks has the potential for considerable gain, whether it's because they're developing a treatment or their products are in greater need amid the outbreak. To date, each stock has outperformed the S&P; 500 since the bear market began in mid-February, with many posting healthy to downright gaudy gains. SEE ALSO: The Berkshire Hathaway Portfolio: Latest Buffett Stock Rankings
Wells Fargo Asset Management Multi-Asset Strategist Brian Jacobsen joins Yahoo Finance’s Seana Smith to discuss the market rally amid optimism over Moderna's coronavirus vaccine data.
Professor of Medicine at Yale and Director of The Yale New Haven Hospital Center for Outcomes Research and Evaluation Dr. Harlan Krumholz joins Yahoo Finance’s Seana Smith to discuss Moderna’s recent headway in an early-stage coronavirus vaccine trial.
Trump revealed the newest plans to develop vaccine, but later said the country will make a comeback with or without it. Board Certified Specialist in Preventive Medicine & Public Health Dr. David Katz joins Yahoo Finance’s Seana Smith to discuss.
Small-cap healthcare company Co-Diagnostics (NASDAQ:CODX) had a fantastic run in recent weeks. But it appears that the good times have come to a decisive end. CODX stock dropped more than 5% Thursday during the regular trading session, and it has fallen another 7% in early morning trading.Source: Shutterstock That's because, on Thursday, Co-Diagnostics suffered numerous blows to the bull thesis. Short sellers took aim at the company's perceived deficiencies. Journalists pointed out problems that states are having with novel coronavirus testing using Co-Diagnostics' kits. And after the market close, Co-Diagnostics reported earnings. It did not go well. Here's what you need to know. Hindenburg Slams the CompanyOn Thursday, noted short selling firm Hindenburg Research took to Twitter to air concerns about Co-Diagnostics. Hindenburg's tweet thread pointed out a number of potential issues with Co-Diagnostics. Among them, Co-Diagnostics partnered with PreCheck Health Services (OTCMKTS:HLTY) to distribute the company's Covid-19 tests in Ecuador. Unfortunately, the SEC recently halted trading in PreCheck Health due to concerns about the accuracy of its press releases.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHindenburg also noted that Co-Diagnostics has published a stunning 34 press releases since January. However, despite all the promotional activity, Co-Diagnostics didn't bother to disclose hard figures around the actual amount of sales or revenues it was generating. As we saw with earnings Thursday evening, this was indeed a valid red flag. In addition, Hindenburg pointed out that Co-Diagnostic's CFO previously served as director of another firm that was tied to boiler room operations. The State Testing Contracts IssueIn addition to the Hindenburg matter, Co-Diagnostics stock fell Thursday on reports that the company's test kits might not be working as well as hoped in various states. There are reports from Iowa, Nebraska, and Utah all questioning local Covid-19 testing practices that use Co-Diagnostics' method. * 7 Artificial Intelligence ETFs to Buy for Today and Tomorrow Co-Diagnostics has claimed that its test results are 100% accurate, which would put it far ahead of most rival tests. However, journalists that have looked into the matter say that experts question whether Co-Diagnostics can really achieve anything close to that. In any case, it appears that politicians may cancel contracts that use Co-Diagnostics' test kits. And the negative publicity will likely deter other government agencies from relying on Co-Diagnostics' tests in the future as well. An Uninspiring Earnings ReportDespite the dozens of press releases and all the excitement about selling kits around the world, Co-Diagnostics did not make money last quarter. In fact, it lost 5 cents per share for Q1, which came in a penny shy of expectations. Additionally, the company scored a paltry $1.6 million of revenues for the quarter. From the amount of enthusiasm traders had drummed up for Co-Diagnostics, you would have thought they were going to report a sizzling quarter. Instead, the numbers flopped.Shares dipped sharply following the earnings report, with the decline accelerating once the conference call started. On the conference call, the company showed rudimentary tech skills. It failed to mute participants on the call, which allowed tons of people to talk at once and turned the scene into pandemonium. Think that's hyperbole? Here's how Salt Lake Tribune reporter Erin Alberty described the proceedings:"Out of curiosity I dialed into the $CODX quarterly earnings conference call today, and I guess they unmuted everyone. I'm hearing lots of cussing, dogs barking, and intermittent calliope music. It's my first earnings call, are they always like this?"Needless to say, holding an entirely unprofessional conference call only added to the questions around Co-Diagnostics' credibility. When you're dealing with human health during a pandemic, it's not a good look to appear shoddy. The company acknowledged the poor showing, but the damage was done as CODX stock sank like a rock following the earnings report. Time to Skip CODX Stock?At the end of the day, you have dozens of companies trying to come up with the best Covid-19 test. There's little reason to think that Co-Diagnostics will be the winner out of an extremely crowded playing field. Especially one where so many other participants have much longer track records of success and sport far larger research and development budgets.At the right price, there may be some place for this sort of speculation. However, Co-Diagnostics' shares have already run up tremendously. Combine that with all the questionable details around the company, and there's great reason to sell shares here. Once the coronavirus enthusiasm wears off, it's likely that CODX stock will end up plummeting. Traders might get lucky continuing to own the stock. But the odds are poor.Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. At the time of this writing, he held no positions in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Dump Co-Diagnostics Stock Before It's Too Late appeared first on InvestorPlace.
Dow Jones futures fell on revived China tensions after Thursday's coronavirus stock market rally. Covid-19 test-maker Co-Diagnostics led earnings movers.
Here's a roundup of top developments in the biotech space over the last 24 hours.Scaling The Peaks (Biotech Stocks Hitting 52-week Highs May 14) * Allogene Therapeutics Inc (NASDAQ: ALLO)(reacted to ASCO abstract) * Altimmune Inc (NASDAQ: ALT)(announced first-quarter results and update to its COVID-19 vaccine program) * BioXcel Therapeutics Inc (NASDAQ: BTAI)( announced full enrollment of Phase 3 trials evaluating BXCL501 for the acute treatment of agitation in patients with schizophrenia and bipolar disorder and said it expects results from the two studies in July) * Co-Diagnostics Inc (NASDAQ: CODX) * Myokardia Inc (NASDAQ: MYOK) * Repligen Corporation (NASDAQ: RGEN) * Translate Bio Inc (NASDAQ: TBIO) * VBI Vaccines Inc (NASDAQ: VBIV)Down In The Dumps (Biotech Stocks Hitting 52-week Lows May 14) * Genfit SA (NASDAQ: GNFT) * Lyra Therapeutics Inc (NASDAQ: LYRA) (IPOed May 1) * RA Medical Systems Inc (NYSE: RMED)(reacted to first-quarter results) * Recro Pharma Inc (NASDAQ: REPH) * Sensus Healthcare Inc (NASDAQ: SRTS) * Sonnet Biotherapeutics Holdings Inc (NASDAQ: SONNStocks In Focus NantKwest To Start Mid-Stage Study Of Pancreatic Cancer Drug Combo In June Nantkwest Inc (NASDAQ:NK) announced plans for a Phase 2, randomized, open-label study to evaluate the efficacy and safety of a combination immunotherapy: NantKwest's PD-L1 t-haNK, ImmunityBio's N-803, and aldoxorubicin HCI plus standard of care, versus standard-of-care chemotherapy for first- and second-line treatment of locally advanced or metastatic pancreatic cancer.The company noted that out of the four patients treated with PD-L1 t-haNK and N-803 under single patient INDs, two were on treatment for the evaluable period. Of these two patients, one reported ongoing, durable, complete response six months after treatment, and one observed response of stable disease. It expects to begin the Phase 2 study in June."Our results from expanded access use of PD-L1 t-haNK in combination with N-803 offer proof-of-concept that, together with these agents, the immune system may play a role to activate robust and durable responses in metastatic cancer patients who have failed all standard-of-care therapies, said Patrick Soon-Shiong, CEO of NantKwest and ImmunityBio.NantKwest stock fell 8.54% to $4.71 in after-hours trading.Phio Presents Encouraging Data For Gene Silencing Platform Phio Pharmaceuticals Corp (NASDAQ: PHIO) announced data analyzing the applicability of the INTASYL platform as a gene silencing technology that offers an alternative or complementary approach to gene editing technologies, such as CRISPR/Cas9, in the treatment of solid tumors.The data presented as a poster at the American Society of Gene and Cell Therapy 23rd Virtual Annual Meeting showed that INTASYL compared favorably to other technologies for improving cells used in adoptive cell therapy for the treatment of solid tumors, especially in cases where permanent gene modification is not required or is undesirable.The stock rose 5.14% to $2.25 in after-hours trading.Earnings Sellas Life Sciences Group Inc (NASDAQ: SLS) reported a first-quarter net loss of 66 cents per share compared to a loss of $11.12 per share last year. Analysts estimated a wider loss of 74 cents per share. Cash and cash equivalents totaled about $6.7 million at the end of March 31, 2020, compared to $2.6 million as of March 31, 2019The stock rallied 13.24% to $3.25 in after-hours trading.Applied DNA Sciences Inc's (NASDAQ: APDN) fiscal year second-quarter revenues fell 29% year-over-year to $552,000. The net loss narrowed from $1.12 per share to 79 cents per share. Analysts, on average, estimated a loss of 77 cents per share on revenues of $950,000.View more earnings on IBBIn after-hours trading, the stock was down 11.77% to $13.42.TFF Pharmaceuticals Inc (NASDAQ: TFFP) reported a first-quarter loss of 20 cents per share compared to a loss of 55 cents per share a year ago. Analysts estimated a loss of 24 cents per share. The stock jumped 17.02% to $5.50 in after-hours trading.Co-Diagnostics reported a strong increase in its first-quarter revenues to $1.55 million from $3,400 a year ago. The loss per share narrowed from 9 cents to 5 cents, in line with estimate.Offering a mid-quarter update for the second quarter, the company said it has manufactured more than 6 million COVID-19 tests to date and has ordered for components for more than 20 million additional tests. The company also said its test kit showed 100% specificity and 100% sensitivity in several independent evaluations.The stock retreated 15.95% to $18.60 in after-hours trading.Offerings TG Therapeutics Inc common stock (NASDAQ: TGTX) priced its upsized underwritten public offering of 8.5 million shares at $18 per share for raising gross proceeds of $153 million. All the shares are being offered by the company. The company expects the offering to close May 19.The stock slipped 2.26% to $19.48 in after-hours trading.Boston Scientific Corporation (NYSE: BSX) priced its public offering of $1.7 billion aggregate principal amount of its senior notes.The public offering consists of $500 million in aggregate principal amount of 1.90% notes due 2025 and $1.2 billion in aggregate principal amount of 2.65% notes due 2030. The company intends to use the net proceeds to repay its debt.Oyster Point Pharma Inc (NASDAQ: OYST) priced its underwritten public offering of 3.75 million shares at $28 per share. All of the shares are being offered by the company. The offering, which is expected to close May 19, is likely to generate gross proceeds of $105 million for the company.The stock was slipping 6.31% to $30.01 in premarket trading Friday.On The Radar PDUFA Dates Clovis Oncology Inc (NASDAQ: CLVS) awaits FDA nod for an expanded indication for its cancer therapy Rubraca. The sNDA seeks approval of Rubraca as monotherapy treatment for patients with BRCA1/2-mutant recurrent, metastatic castrate-resistant prostate cancer.Clinical Readouts Pfizer Inc. (NYSE: PFE) will present at the ASGCT meeting, Phase 1b data for PF-06939926 in Duchenne muscular dystrophy at 10 am ET.Earnings Digirad Corporation (NASDAQ: DRAD) (before the market open) * Zyla Life Sciences (OTC: ZCOR) (before the market open) * PLx Pharma Inc (NASDAQ: PLXP) (before the market open) * Titan Pharmaceuticals, Inc. common stock (NASDAQ: TTNP) (before the market open) * Bio-Path Holdings Inc (NASDAQ: BPTH) (before the market open)IPO Late clinical-stage oncology-focused Swiss biotech ADC THERAPEUTICS priced its upsized initial public offering of 12,245,631 shares of its common shares at $19.00 per share, above the estimated price range of $16-18. The company expects the offering to generate gross proceeds of $232.7 million. The shares are to be listed on the NYSE under the ticker symbol "ADCT."See more from Benzinga * The Daily Biotech Pulse: ASCO Abstracts Create Stock Ripples, Applied DNA's Coronavirus Test Receives EUA, Biopharmx Shareholders Vet Reverse Merger * The Daily Biotech Pulse: Gilead Signs Manufacturing Deal For Remdesivir, Bristol-Myers Gets Refuse-To-File Letter(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, releases the prepared remarks for the Q1 2020 conference call scheduled for May 14, 2020. Due to overwhelming participation on the call, the conference call service was unable to accommodate the traffic. In lieu of the call, the following remarks have been provided to update shareholders on recent corporate developments.
Coronavirus test-maker Co-Diagnostics topped first-quarter sales estimates Thursday — and CODX stock reversed its regular-session dive. But losses were slightly wider than expected.
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today the filing of its operating results for the three-month period ending March 31, 2020, and provided updates on Company developments.
What happened Shares of Co-Diagnostics (NASDAQ: CODX) were jumping 16.4% higher as of 11:18 a.m. EDT on Thursday after rising as much as 26.9% earlier in the day. The big gain appears to be related in part to a New York University Langone Health study that identified possible inaccuracies with Abbott Labs' (NYSE: ABT) ID NOW diagnostics test for novel coronavirus disease COVID-19.
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will release its first quarter 2020 earnings on May 14, 2020 after the close of trading on that day, and will hold an earnings call at 4:30 pm EDT. The call is expected to consist of prepared remarks by Company CEO Dwight Egan, and include mid-quarter guidance for the second quarter 2020. Analysts providing coverage for Co-Diagnostics will also be invited participate in a question and answer session.
This follows its scorching performance last month, when it soared 48.8%, according to data from S&P Global Market Intelligence. Last month's strong market performance should be placed in context: It followed a big coronavirus-driven sell-off in March, when the S&P 500 (including dividends) dropped 12.4%.