Stock Alert: Co-Diagnostics Gains After Its Covid-19 Test Gets EUA

(RTTNews) - Shares of Co-Diagnostics, Inc. (CODX) are climbing more than 20% Monday morning after the molecular diagnostics company announced that its Logix Smart Coronavirus COVID-19 Test has obtained Emergency Use Authorization (EUA) from the FDA to be used for the diagnosis of SARS-CoV-2.

The company's COVID-19 test uses its proprietary CoPrimer technology to target the RdRp gene of the SARS-CoV-2 virus.

The company has started selling its new test kits to some U.S. CLIA labs in March as a result of FDA policy change in the current pandemic emergency.

Co-Diagnostics had already started selling the testing kits to Europe and to other global markets after the company won CE Mark from EU regulators in February.

CODX is currently trading at $9.92. It has traded in the range of $0.69- $21.75 in the past one year.