Stock Alert: Co-Diagnostics Shares Soar 26% In Pre-Market

(RTTNews) - Shares of Co-Diagnostics Inc. (CODX) are surging more than 26% in pre-market today, after the company reported additional demand for Coronavirus test shipments.

The stock has been trading between $0.69 and $21.75 in the past one year, and closed Wednesday's trading session at $12.00, down $2.36 or 16.43%.

The molecular diagnostics company, today, announced that both domestic and international demand has surged for its novel coronavirus detection kits in recent weeks leading to increased product shipments, following the FDA's change in policy on February 29, and an ever-larger number of patients testing positive for the disease worldwide.

Further, the company noted that international interest has grown for Co-Diagnostics' CE-IVD Logix Smart COVID-19 Test Kit, and numerous requests have been received from US clinical laboratories for the company's reagents to be used according to the FDA's new policy allowing those labs to begin testing patients for COVID-19 after in-house validation, while awaiting FDA Emergency Use Authorization.