Co Diagnostics (NASDAQ:CODX)
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6 Months : From Oct 2019 to Mar 2020
Vector Smart™ products being presented at 6 vector control conferences in October to prepare for 2020 mosquito season
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that their Vector Smart™ mosquito testing products will be presented across the country at vector control conferences in 6 different states this month, in preparation for the 2020 mosquito season.
Mosquito abatement districts (MADs) are publicly-funded departments at the city, county, and state level responsible for controlling mosquito populations, and many of the 1,000 MADs throughout North America determine their annual budgets in Q4 of the preceding year. The conferences being attended by the Company this month take place in Texas, Georgia, Idaho, Nebraska, Ohio, and Utah, each of which includes representatives from MADs in several of the surrounding states and Canadian provinces.
Co-Diagnostics’ line of polymerase chain reaction (PCR) multiplex assays for mosquito populations include a test for West Nile virus (WNV), St. Louis encephalitis and western equine encephalitis (WEE); a test for Zika, dengue and chikungunya, which launched earlier this month and for which sales have already begun; and another multiplex that the Company says will be ready by the Spring 2020 mosquito season which includes eastern equine encephalitis (EEE) instead of WEE. WNV is now found in every state in the continental US, and human cases of EEE, a mosquito-borne disease that kills roughly one-third of those infected and typically leaves survivors with “mild to severe brain damage” according to the CDC, were found in seven states this year as well.
Dwight Egan, CEO of Co-Diagnostics, remarked, “Attending conferences and presenting the quality and value of our vector control products directly to those in charge of determining budgets for mosquito abatement programs is an important step in our go-to-market strategy for this vertical. Likewise, finding new methods of identifying pathogens in mosquito populations is critical for MADs to improve their own efficiency in preventing the transmission of diseases to humans and livestock. With some of the only tests of their kind being offered to this market, we believe that the role Co-Diagnostics products play in these efforts will continue to grow.”
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.
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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Head of Investor Relations