Fed Governor Adriana Kugler to resign
In a challenging market environment, Co-Diagnostics Inc. (NASDAQ:CODX) stock has reached a new 52-week low, touching down at $0.43. This significant downturn reflects a broader trend for the company, which has seen its stock price plummet by -57.94% over the past year. Investors have been closely monitoring the stock as it struggles to regain momentum amidst a landscape of economic uncertainty and shifting industry dynamics. The 52-week low serves as a critical indicator of the company’s current market position and investor sentiment, marking a stark contrast from its performance in the previous year.
In other recent news, Co-Diagnostics, Inc. has withdrawn its 510(k) application for its Co-Dx PCR COVID-19 Test after discussions with the FDA. The decision was influenced by feedback regarding the shelf-life stability of a test component. Co-Diagnostics plans to develop an enhanced version of the test and aims to collect more clinical evaluation data for future 510(k) Over-The-Counter clearance. Meanwhile, Co-Diagnostics is facing a potential Nasdaq delisting due to non-compliance with the minimum bid price requirement, as its stock has traded below $1.00 for 30 consecutive business days. The company has until July 9, 2025, to meet the bid price requirement of closing at or above $1.00 for ten consecutive business days. If necessary, Co-Diagnostics may consider measures like a reverse stock split to regain compliance. These developments highlight the company’s ongoing efforts to address regulatory challenges and improve its financial standing. Co-Diagnostics continues to focus on enhancing its PCR platform and expanding its suite of diagnostic tests.
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