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Co-Diagnostics Reports Third Quarter 2026 Financial Results

CODX
  • Co-Diagnostics announced third quarter 2026 financial results with revenue of $0.3 million & operating expenses of $6.2 million, down 12% year over year.
  • The company submitted a 510(k) premarket notification & concurrent CLIA Waiver to the U.S. FDA for its Co-Dx PCR Flu A/B & RSV test.
  • A CoSara PCR MTB tuberculosis test was submitted to India's CDSCO following a clinical performance study of 676 samples showing 97.3% sensitivity & 96.0% specificity.
  • A collaboration with ReadyGo Diagnostics was initiated to evaluate blood-based molecular testing for decentralized Ebola detection.
  • The Company launched integrated cloud & mobile infrastructure in India to support tuberculosis clinical work without requiring internet connectivity.
  • Vector Smart laboratory equipment was shipped to an overseas U.S. Air Force base, marking the first international deployment of the platform.
  • Two new Vector Smart laboratory installations were completed in Florida with additional training underway in Indiana.
  • Automation of the test-cup manufacturing line was demonstrated, reducing cycle time by 45% & increasing output by 74%.
  • Wes Lindsey was appointed Chief Scientific Officer to lead FDA review activities & molecular diagnostics work.
  • Net loss for the quarter was $6.3 million, or $1.01 per share, compared to $5.9 million in the prior-year period.
  • Cash & cash equivalents totaled $0.7 million as of September 30, 2026.
  • The Company completed a senior secured convertible debt financing with J.J. Astor & Co. for approximately $2.1 million in initial funding.
  • A full Vector Smart mosquito surveillance laboratory installation was secured from the Ute Indian Tribe Mosquito Abatement Department.
  • The Co-Dx PCR platform remains subject to regulatory review & is not yet available for commercial sale.
Company
Co-Diagnostics
Keywords
Co-Diagnostics