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Investing.com - H.C. Wainwright has reiterated its Neutral rating on Co-Diagnostics (NASDAQ:CODX) following the company’s second-quarter 2025 financial results. The stock, currently trading at $0.32, has shown remarkable resilience with a 26% gain over the past week, despite facing significant challenges. InvestingPro data reveals the company’s overall financial health score remains weak, with several key metrics requiring attention.
Co-Diagnostics reported revenue of $163,000 for the quarter, with a net loss of $7.7 million, or ($0.23) per share. The reported loss was less than H.C. Wainwright’s estimated loss of $8.3 million. According to InvestingPro analysis, the company’s revenue has declined by 89% over the last twelve months, though its strong current ratio of 4.12 indicates sufficient liquidity to meet short-term obligations.
The company plans to conduct clinical trials for four tests—tuberculosis, respiratory multiplex, HPV multiplex, and COVID-19—before submitting a new 510(k) application for a test on its Co-Dx PCR Pro instrument platform. Management expects to initiate clinical evaluations for all pipeline tests before the end of 2025.
Co-Diagnostics is currently training clinical evaluation sites for its enhanced COVID-19 test, with participant recruitment potentially starting imminently. The enhanced COVID-19 test is expected to be the first of four infectious disease PCR test panels submitted for regulatory clearance after clinical evaluation completion.
H.C. Wainwright projects that the Co-Dx PCR Pro instrument and its associated tests could potentially obtain FDA clearance in 2026, with the company noting that the TB test could primarily target ex-U.S. markets such as India.
In other recent news, Co-Diagnostics Inc. reported its earnings for the second quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of -$0.23, which was significantly better than the forecasted EPS of -$0.66. Revenue for the quarter was reported at $200,000, meeting the anticipated figures. These results reflect recent developments in the company’s financial performance. Despite the better-than-expected EPS, the company’s stock experienced a decline in the trading session following the earnings announcement. No information about any mergers or acquisitions was provided in the recent updates. Additionally, there were no analyst upgrades or downgrades reported for Co-Diagnostics Inc. at this time.
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