Fed Governor Adriana Kugler to resign
In a challenging market environment, Co-Diagnostics Inc. (NASDAQ:CODX) stock has touched a 52-week low, reaching a price level of just $0.65. With a market capitalization of $21.39 million and a beta of -0.64, the stock typically moves counter to broader market trends, according to InvestingPro data. This latest dip reflects a significant downturn for the company, with the stock plummeting nearly 60% over the past six months. While investors closely monitor Co-Diagnostics as it navigates through this volatile period, InvestingPro analysis suggests the stock may be undervalued at current levels. The company maintains strong liquidity with a current ratio of 6.92, though profitability remains a challenge with negative EBITDA of $38.67 million. For deeper insights into CODX’s valuation and 10+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Co-Diagnostics, Inc. has withdrawn its 510(k) application for its Co-Dx™ PCR COVID-19 Test after discussions with the U.S. Food and Drug Administration (FDA). This decision follows feedback from the FDA regarding the shelf-life stability of a test component. Co-Diagnostics plans to develop an enhanced version of the test and collect additional clinical evaluation data for future application. Meanwhile, Co-Diagnostics faces potential delisting from Nasdaq due to non-compliance with the minimum bid price requirement, as its stock has been trading below $1.00 for 30 consecutive business days. The company has until July 9, 2025, to meet this requirement or possibly face an extension if it meets other listing standards. Co-Diagnostics is actively monitoring its stock price and exploring options to address this issue. These developments reflect the company’s ongoing efforts to ensure regulatory compliance and maintain its market presence.
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