Co-Diagnostics Inc. (NASDAQ: CODX)

Co-Diagnostics Inc. (NASDAQ: CODX) is a molecular diagnostics company focused on developing and commercializing technologies designed to detect and analyze nucleic acid molecules, including DNA and RNA. The company’s approach centers on building proprietary diagnostic platforms that aim to improve the accessibility, efficiency, and performance of molecular testing across a range of healthcare and research settings.

The company is advancing solutions designed to extend real-time polymerase chain reaction (PCR) testing beyond centralized laboratories and into decentralized environments, including point-of-care and at-home settings. By focusing on portability, usability, and speed, Co-Diagnostics is working to deliver timely diagnostic insights that can support medical decision-making and broader public health efforts.

Guided by a mission to expand access to high-quality molecular diagnostics, particularly in underserved regions, the company is focused on lowering barriers to testing while supporting global health initiatives through scalable technologies.

Co-Diagnostics is headquartered in Salt Lake City, Utah.

Products

Co-Diagnostics’ product ecosystem is built around its proprietary PCR platform and Co-Primers™ technology, supporting diagnostic, research, and emerging point-of-care applications.

Co-Dx PCR Platform

The Co-Dx PCR platform is designed to deliver real-time PCR testing in decentralized environments through compact, user-friendly systems. Core components include the Co-Dx PCR Pro® and Co-Dx PCR Home® platforms, which are intended to enable testing at the point of care or in at-home settings using mobile connectivity and single-use test formats.

The platform supports multiplex testing, allowing multiple targets to be detected in a single reaction, which is intended to reduce testing time and improve diagnostic clarity. The platform and associated components remain subject to regulatory review and are not currently available for sale.

Co-Primers™ Technology

Co-Primers™ technology underpins the company’s platform and is designed to enhance PCR performance through a novel primer structure that separates capture and priming functions. This design may reduce non-specific amplification and primer dimer formation, improving specificity and enabling more efficient multiplex testing across infectious disease applications.

Co-Dx Box™ qPCR Cycler

The Co-Dx Box™ is a portable qPCR instrument designed to deliver laboratory capabilities in a compact format. The system uses magnetic induction technology and is engineered for minimal calibration, ease of use, and efficient workflows, with results delivered in approximately two hours or less.

Diagnostic, Research, and Specialized Solutions

Co-Diagnostics offers a range of products designed for clinical, research, and field-based applications, including:

• Logix Smart® diagnostic solutions, compatible with most qPCR equipment and designed for in vitro diagnostic use where regulatory requirements are met
• Research-use-only (RUO) products, supporting non-clinical infectious disease detection and life sciences research
• Vector Smart™ solutions, enabling in-house PCR testing for mosquito-borne diseases such as Zika, dengue, and chikungunya
• Multiplex PCR test kits, designed to detect multiple targets in a single reaction across various applications

Across its portfolio, the company reports having sold more than 34 million real-time PCR tests.

Commercial Expansion and Intellectual Property

Co-Diagnostics continues to expand its platform through intellectual property development and international partnerships. The company has received patent protection for its PCR platform technologies in multiple jurisdictions, including a Japanese patent covering automated, self-contained biological analysis. It has also expanded its commercial footprint through its CoSara joint venture, increasing its addressable market in South Asia to approximately $13.0 billion, subject to regulatory approvals.

Market Opportunity

According to Grand View Research, the global molecular diagnostics market was valued at approximately $18.85 billion in 2025 and is projected to reach $25.59 billion by 2033, growing at a compound annual growth rate of 4.06% from 2026 to 2033. Growth is being driven by ongoing technological advancements, an aging global population, and increasing demand for precise and efficient genetic testing solutions.

Within the market, PCR-based technologies represent the largest segment, accounting for 62.16% of total share in 2025, while infectious disease applications also led all categories. North America held the largest regional share at 44.06%, with continued expansion expected in the United States. These trends reflect sustained demand for accurate, scalable diagnostic solutions, particularly those capable of delivering high-quality results across a range of clinical and decentralized settings.

Leadership Team

Dwight H. Egan, Chief Executive Officer, has been an officer and director since April 2013 and has been engaged in the private investment business since 1999, previously serving as a senior executive at Data Broadcasting Corporation and co-founding Broadcast International, Inc., which was later acquired and contributed to the creation of CBS MarketWatch.

Richard Abbott, President, has more than 25 years of experience in in vitro diagnostics, including developing systems for infectious disease diagnosis, biological threat detection, and genetics research, and previously served as Vice President of Engineering at BioFire Diagnostics where he led teams responsible for products generating billions in revenue.

Brian L. Brown, Chief Financial Officer, has served in the role since February 2021 and previously held senior finance positions including Chief Financial Officer of A-Core Concrete Cutting, Inc. and Vice President of Accounting, Treasury & Investor Relations at Sportsman’s Warehouse Holdings, Inc., bringing extensive experience in accounting, finance, and public company operations.