Co-Diagnostics Inc CEO Discusses Novel Coronavirus with CNBC Squawk Box Asia

Date : 01/28/2020 @ 11:30AM
Source : Business Wire
Stock : Co Diagnostics Inc (CODX)
Quote : 9.15  -0.25 (-2.66%) @ 4:00AM
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Co-Diagnostics Inc CEO Discusses Novel Coronavirus with CNBC Squawk Box Asia

Co Diagnostics (NASDAQ:CODX)
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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.

Andrew Benson Head of Investor Relations +1 801-438-1036 investors@codiagnostics.com

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