Co-Diagnostics Inc CEO Discusses Novel Coronavirus with CNBC Squawk Box Asia
January 28 2020 - 06:30AM
Business Wire
Interview covered method of transmission,
importance of accurate diagnostic tools, and the Company diagnostic
announced last week
The CEO of Co-Diagnostics, Inc. (Nasdaq:CODX), a
molecular diagnostics company with a unique, patented platform for
the development of diagnostic tests, was interviewed by the host of
CNBC Squawk Box Asia last night, to discuss the current outbreak of
the novel coronavirus that originated in China before spreading
across the world, and the importance and challenges of creating a
of high-quality diagnostic for the disease.
“It is important to be able to develop a test that can find and
distinguish between pathogens that are closely related, and can
confirm the presence of a novel virus, without false positives and
false negatives,” remarked Dwight Egan, Co-Diagnostics CEO,
expounding on comments made in the interview. “A test should be
specific enough that it can differentiate between similar pathogens
to aid in proper treatment and tracking outbreaks, but also
sensitive enough that infected patients are identified before they
can spread the transmission to others.
“The proprietary Co-Diagnostics development process allows us to
react quickly to public health crises, rapidly developing a test
with incredible sensitivity and specificity, in days or weeks as
opposed to months or years. Less design and development time,
coupled with our own patented platform technology, allows
Co-Diagnostics to save on development costs as well as licensing
fees, all of which enables Co-Diagnostics products to be affordable
and more accessible to markets across the world. We look forward to
providing updates on our test progress as we prepare to make it
available to affected markets.”
According to the Centers for Disease Control and Prevention,
cases of the new coronavirus (referred to as “2019-nCoV”) have been
confirmed in 16 countries since the virus was first identified in
China on January 7, 2020, including 5 positive infections in the US
and suspected cases in 26 states. Yesterday, the CDC recommended
all nonessential travel to the country of China be avoided as the
number of deaths has risen to 106. Person-to-person spread is
likely to occur in the US, however the virus is NOT currently
spreading in the US community and the CDC has issued guidance on
how to reduce the risk that it might.
From the website, Squawk Box Asia is CNBC’s flagship show that
sets the news agenda and takes viewers through the pre-game and the
opening of Asia's business trading day, covering the top market
moving stories and views from the top CEOs, asset managers and
newsmakers.
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 may include statements
regarding the (i) use of funding proceeds, (ii) expansion of
product distribution, (iii) acceleration of initiatives in certain
verticals or markets, (iv) capital resources and runway needed to
advance the Company’s products and markets, (v) increased sales in
the near-term, (vi) flexibility in managing the Company’s balance
sheet, (vii) anticipation of business expansion, and (viii)
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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version on businesswire.com: https://www.businesswire.com/news/home/20200128005314/en/
Andrew Benson Head of Investor Relations +1 801-438-1036
investors@codiagnostics.com
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