Co-Diagnostics reports Q2 EPS (25c) vs. (31c) last year

Reports Q2 revenue $2.7M vs. $197.8K last year. Cash, cash equivalents, and marketable securities of $44.9M as of June 30, 2024. “We are very pleased by the progress Co-Diagnostics has made so far this year,” said Dwight Egan, CEO. “Our 510(k) application for our new instrument and COVID-19 test kit, which we submitted to the FDA for over-the-counter use, is a significant accomplishment. Medical devices cleared for OTC use are automatically categorized as CLIA-waived, making them also suitable for use at the point-of-care as well. We believe this will help to further expand the market and value of the new platform while we prepare to pursue clearance from the FDA for the Co-Dx PCR COVID-19 test on the new instrument specifically for point-of-care use.” “We truly believe that we are one-step closer to delivering the most low-cost, easy to use, and highly accessible diagnostics point of care platform. We also look forward to beginning clinical evaluations for our multiplex test later this year,” said CFO Brian Brown.