SALT LAKE CITY, June 9, 2020 /PRNewswire/ -- Co-Diagnostics,
Inc. (Nasdaq: CODX), a molecular diagnostics company
with a unique, patented platform for the development of diagnostic
tests, announced today that it is expected to join the Russell
2000® Index at the conclusion of the annual Russell US
Indexes reconstitution after the close of equity markets on
June 26, 2020.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 8, 2020 ranking
them by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place for one
year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell
2000® Index as well as the appropriate growth and
value style indexes. FTSE Russell, a leading global index provider,
determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
Dwight Egan, Co-Diagnostics CEO,
remarked "We are pleased by our inclusion in the Russell
2000® Index and the validation it brings to our Company
as a provider of molecular diagnostics solutions. We believe this
will further enhance our visibility in the investment community,
especially among institutions."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 trillion in assets are benchmarked against
Russell's US indexes, and the Russell 2000® Index is
comprised of the smaller-cap stocks of the Russell 3000®
Index, a market cap weighted index of the 3,000 largest US
stocks.
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
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