Co-Diagnostics Plans Product Launch for Emerging Mosquito Threat EEE Virus as Demand Grows

New York City, Oct. 15, 2019 (GLOBE NEWSWIRE) — Co-Diagnostics Plans Product Launch for Emerging Mosquito Threat EEE Virus as Demand Grows

New York City, New York – News yesterday from Co-Diagnostics, Inc. (Nasdaq: CODX), a biotech with a patented platform for the development of molecular diagnostic tests that has been making a name for itself in the vector control industry, included the announcement that its test for eastern equine encephalitis (EEE) will be ready in time for the upcoming mosquito season in 2020.

According to yesterday’s release and other press on the subject, the test currently under development appears to be similar to the company’s Vector Smart NAM-w test, which looks for West Nile virus (WNV), St. Louis encephalitis, and western equine encephalitis (WEE) in mosquito populations, but will identify the EEE virus instead of WEE. When their initial NAM-w product launched on July 11, CODX became one of the hottest tickers of the day and traded up 44% on substantial volume.

Co-Diagnostics’ news last week relating to the launch of their Vector Smart ZDC multiplex test, for which sales have already begun, encouraged H.C. Wainwright to reiterate their Buy rating with a price target of $2.00. That product was described as being created “following requests from mosquito abatement districts and ministries of health…for a test that can accurately identify Zika, dengue and chikungunya, but which is tailored specifically for mosquito populations.” Based on the unexpected uptick in cases of EEE in 2019 (30, compared to an average of 7 or so) and 11 deaths so far, it seems safe to say that Co-Diagnostics is extending that approach with the development of this test.

EEE is a rare neurological disease that kills roughly one-third of those infected, as is sadly borne out in this year’s statistics, and leaves a high percentage of survivors with “mild to severe brain damage” according to the CDC. Cases in 2019 were reported all along the Eastern seaboard and as far west as Michigan. Although the 2019 mosquito season is winding down, the company’s current marketing push and plans to launch their EEE test in advance of the 2020 season appears driven by market demand, and their belief that testing mosquito populations directly is one of the primary lines of defense against the spread of mosquito-borne illnesses.

Few if any diagnostics companies have approached the mosquito abatement market so directly. And unlike in vitro diagnostics for humans, testing mosquito populations requires no regulatory approval by the FDA. This makes for an enticing combination of minimal competition, relatively straightforward pathway to domestic revenue, and a business model that they have quickly shown to be viable with sales of mosquito tests and abatement equipment packages beginning earlier this year. If the interest shown by analysts and followers of the stock is any indication, the launch of their EEE test should portend great things for this Utah-based medtech company.

Disclosure: Co-Diagnostics Inc is a client of BDA International.

About BDA International, Inc.:

BDA International is an independent global Investor Relations firm offering a wide range of IR-related analysis, research and advisory services. In particular, we provide and are compensated for service packages that include strategic action plans and investor/market perception studies to help entities improve communication with customers and investors, and to increase their visibility. BDA International has received no direct compensation related to this release but its principles hold shares of client companies in our personal portfolios, including CODX. BDA International accepts sole responsibility for the content and distribution of the foregoing release, which does not contain any previously unpublished or non-public information. Parties interested in learning more about the relationship between BDA and CODX may do so via the contact information at the bottom of this release.

Disclaimer

The information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained in this analysis reflect our current judgment and are subject to change without notice. We do not accept any responsibility or liability for any losses, damages or costs arising from an investor’s or other person’s reliance on or use of this analysis. This analysis is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities, nor a recommendation of any security, although members of the BDA may at times hold a position in the company covered within the article. Co-Diagnostics is a client of BDA International. Past gains are not a representative of future gains. The opinions herein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plans,” “should,” “potential,” “forecast,” and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. A company’s actual results could differ materially from those described in any forward-looking statements contained herein. BDA is not a licensed broker, broker dealer, market maker, investment advisor, analyst or underwriter. We recommend that you use the information found herein as an initial starting point for conducting your own research in order to determine your own personal opinion of the companies discussed herein before deciding whether or not to invest. You should seek such investment, tax, financial, accounting or legal advice appropriate for your particular circumstances. Information about many publicly traded companies and other investor resources can be found at www.sec.gov. Investing in securities is speculative and carries risk.

Investor Relations Contact:
M. Dost                                                                
BDA International   
www.bda-ir.com

dost@bda-ir.com

About The Wall Street Analyzer 1521 Articles
The Wall Street Analyzer's staff of writers, analysts, publishers, producers, market researchers, and PR professionals aim to provide investors with the tools they need to make informed decisions on buying stock. Our staff is a mix of financial professionals and media savvy individuals whose experiences bring the best talent from both ends of the spectrum.