Co-Diagnostics Partners with CoSara to Tackle Ebola Outbreak
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Source: stocktwits
Co-Diagnostics Inc. (CODX) saw its stock price drop 26.27% as it crossed below the 5-day SMA amid a broader market rally.
The company has partnered with CoSara Diagnostics to advance a PCR testing strategy for the Bundibugyo virus, aiming to address the Ebola outbreak in the Democratic Republic of the Congo and Uganda. This partnership is expected to enhance the international community's response capabilities, especially as the World Health Organization reports over 900 suspected cases and 220 suspected deaths from the outbreak. The regulatory review process for Co-Diagnostics' PCR platform is ongoing, and future approvals will be crucial for its market launch.
Despite the stock's decline, the collaboration with CoSara Diagnostics positions Co-Diagnostics to play a significant role in public health response efforts, potentially leading to increased demand for its testing solutions as the situation evolves.
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Analyst Views on CODX
Wall Street analysts forecast CODX stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 11.190
Low
1.50
Averages
1.50
High
1.50
Current: 11.190
Low
1.50
Averages
1.50
High
1.50
About CODX
Co-Diagnostics, Inc. is a molecular diagnostics company, which develops, manufactures and markets diagnostics technologies. The Company’s technologies are utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests for its Co-Dx PCR platform and to locate genetic markers for use in applications other than infectious disease. Its diagnostics systems enable dependable, low-cost, molecular testing for organisms and genetic diseases by automating or simplifying historically complex procedures in both the development and administration of tests. It is developing a portable diagnostic device and test system designed for point-of-care and at-home use. The system consists of its PCR instrument that it refers to as the Co-Dx PCR Pro instrument, its proprietary diagnostic test cup system and a mobile application to be installed on the user’s mobile device.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- International Deployment Plan: The company is collaborating with its Indian joint venture, CoSara Diagnostics, to expedite international deployment in response to the potential global spread of the Ebola outbreak, highlighting its proactive role in emergency response efforts.
- Testing Technology Development: Co-Diagnostics is developing a PCR test targeting the Bundibugyo virus strain, with plans to introduce both Bundibugyo-specific and pan-Ebola test configurations to enhance monitoring capabilities for the outbreak.
- Global Health Emergency: The World Health Organization has declared the outbreak a public health emergency of international concern, with over 900 suspected cases and 223 suspected deaths reported, underscoring the severity of the situation and its threat to global health.
See More
