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Sep 30, 2022
Co-Diagnostics Q3 2022 Earnings Report
Announced financial results impacted by lower demand for COVID-19 test, while significant progress was made on the Co-Dx PCR Home™ platform.
Key Takeaways
Co-Diagnostics reported lower third-quarter results due to decreased demand for their COVID-19 tests, but made substantial progress on their Co-Dx PCR Home™ platform, which is nearing its final stages and expects clinical trials to begin soon. The company's ability to generate positive cash flow supported further development and optimization efforts for their Co-Dx PCR Home platform.
Third quarter results were impacted by lower demand for COVID-19 test.
Significant progress was made on the Co-Dx PCR Home™ platform.
Clinical trials are expected to begin in the very near future.
Almost 10% of shares outstanding were repurchased during the quarter.
Forward Guidance
The company is focused on the Co-Dx PCR Home platform and expanding its suite of tests for its clinical laboratory business segment. They remain confident in their strategy and portfolio of innovative testing products.
Historical Earnings Impact
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