SALT LAKE CITY, April 20, 2020 /PRNewswire/
-- Co-Diagnostics, Inc. (Nasdaq: CODX) (the Company), a
molecular diagnostics company with a unique, patented platform for
the development of molecular diagnostic tests, announced today that
Company COVID-19 test sales in the United
States have continued to increase as the federal government
shifts responsibility to individual states to confront the need to
double the amount of testing for the disease. The Company received
FDA Emergency Use Authorization on April 3,
2020 and has shipped tests to more than a dozen states
throughout the country, in addition to receiving orders from nearly
50 countries worldwide.
Dwight Egan, CEO of
Co-Diagnostics, commented, "It has been widely reported that the
most important step to returning to normal economic and social
activity is a dramatic increase in the scale of testing being
performed, and governors across the country are anxious to obtain
more tests. Sales of our Logix Smart™ COVID-19 test continue to be
made to more and more states, countries, and labs. Through some 50
distributors and direct sales, our tests are being sold to
individual labs, through government tenders, and to private/public
partnerships designed to facilitate high throughput testing and
increase test availability to the public. The Company's high
quality, cost-efficient, easy to interpret tests are in high demand
around the world."
The Logix Smart COVID-19 test is currently available to all
clinical laboratories certified under Clinical Laboratory
Improvement Amendments (CLIA), and is authorized to be used for the
diagnosis of SARS-CoV-2, the virus that causes COVID-19.
About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a
Utah corporation, is a molecular
diagnostics company that develops, manufactures and markets a new,
state-of-the-art diagnostics technology. The Company's technology
is 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 to locate
genetic markers for use in industries other than infectious disease
and license the use of those tests to specific customers.
Forward-Looking Statements:
This press release
contains forward-looking statements. Forward-looking statements can
be identified by words such as "believes," "expects," "estimates,"
"intends," "may," "plans," "will" and similar expressions, or the
negative of these words. Such forward-looking statements are based
on facts and conditions as they exist at the time such statements
are made and predictions as to future facts and conditions.
Forward-looking statements in this release include statements
regarding the (i) use of funding proceeds, (ii) expansion of
product distribution, (iii) acceleration of initiatives in liquid
biopsy and SNP detection, (iv) use of the Company's liquid biopsy
tests by laboratories, (v) capital resources and runway needed to
advance the Company's products and markets, (vi) increased sales in
the near-term, (vii) flexibility in managing the Company's balance
sheet, (viii) anticipation of business expansion, and (ix) benefits
in research and worldwide accessibility of the CoPrimer technology
and its cost-saving and scientific advantages. Forward-looking
statements are subject to inherent uncertainties, risks and changes
in circumstances. Actual results may differ materially from
those contemplated or anticipated by such forward-looking
statements. Readers of this press release are cautioned not to
place undue reliance on any forward-looking statements. The Company
does not undertake any obligation to update any forward-looking
statement relating to matters discussed in this press release,
except as may be required by applicable securities laws.
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SOURCE Co-Diagnostics