Co-Diagnostics Inc.
CODX evidence brief
What we can confirm
- Market Cap:
- $6.6M
What it means
What to watch
Prepared research question
What matters most for CODX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CODX
Co-Diagnostics Inc. (CODX) is a molecular diagnostics company developing a patented PCR platform and expanding into AI-driven assay design, while facing significant financial losses and a transition from COVID-19 test sales.
Key risk: Cash runway
Market Cap
$6.6M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
Co-Diagnostics Inc. (CODX) is a molecular diagnostics company developing a patented PCR platform and expanding into AI-driven assay design, while facing significant financial losses and a transition from COVID-19 test sales.
- Cash & equivalents of $3.6M as of 2026-06-30 [sec]
- Total revenue of $0.2M and net income of -$6.3M for the six months ended June 30, 2026 [sec]
- Full year 2025 revenue was $0.6M, down from $3.9M in 2024, primarily due to lower grant revenue [news]
- Net loss for the six months ended June 30, 2026 was $15.4M [sec_mda]
- Received CDSCO license to manufacture and sell the CoSara PCR Pro instrument in India [news]
What works
- Expanded AI business unit integrating machine learning into the Co-Dx Primer Ai platform [news]
- Strengthened intellectual property portfolio with a new international patent granted in Australia [news]
- Received CDSCO license to manufacture and sell the CoSara PCR Pro instrument in India, a key regulatory milestone [news]
What to weigh
- Revenue declined sharply from $3.9M in 2024 to $0.6M in 2025, primarily due to lower grant revenue [news]
- Net loss for the six months ended June 30, 2026 was $15.4M, with operating expenses driven by clinical trial costs [sec_mda]
- Cash & equivalents stood at only $3.6M as of 2026-06-30, indicating limited liquidity [sec]
From the filings
Quoted directly from source documents.
Full year 2025 revenue decline
“Revenue of $0.6 million, compared to $3.9 million in 2024, primarily due to lower grant revenue”
News · March 31, 2026
Net loss for six months ended June 30, 2026
“Net loss for the six months ended June 30, 2026 was $15.4 million”
SEC MD&A · August 13, 2026
CDSCO license for CoSara PCR Pro in India
“Received CDSCO license to manufacture and sell the CoSara PCR Pro®instrument in India”
News · March 31, 2026
Risks & what to watch (4)›
Key risks
- Cash runway — Cash & equivalents of $3.6M as of 2026-06-30 may be insufficient to sustain operations given ongoing net losses [sec]
- Revenue decline — Revenue fell from $3.9M in 2024 to $0.6M in 2025, with no clear replacement for lost COVID-19 test sales [news]
- Operating losses — Net loss of $15.4M for H1 2026, driven by clinical trial costs and decreased other income [sec_mda]
- Regulatory dependence — Commercialization in India hinges on CDSCO license; delays or issues could impact revenue [news]
What to watch
- Progress of clinical trials for the Co-Dx PCR platform, which are driving operating expenses [sec_mda]
- Commercialization of CoSara PCR Pro instrument in India following CDSCO license [news]
- Development of TB and HPV tests in the pipeline [news]
- Outcome of SPAC transaction for CoSara Diagnostics being pursued with Maxim Group [news]
Sources: Competitor trials · News · SEC MD&A · Generated October 9, 2026 · How we verify sources →
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Evidence & data
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
14
Total value held
$92K
| Holder | Shares | Value |
|---|---|---|
| private advisory group llc | 41,387 | $77K |
| ubs group ag | 7,368 | $14K |
| smartleaf asset management llc | 133 | $226 |
| morgan stanley | 88 | $164 |
| wells fargo & company/mn | 81 | $151 |
| sbi securities co., ltd. | 58 | $108 |
| jpmorgan chase & co | 50 | $85 |
| heritage wealth advisors | 17 | $32 |
| western wealth management, llc | 17 | $32 |
| osaic holdings, inc. | 10 | $18 |
Showing top 10 of 14 institutional holders of Co-Diagnostics Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 2.7%
- Days to cover
- 0.7
- Shares short
- 94,771
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CODX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Co-Diagnostics Inc.?
Co-Diagnostics Inc. (CODX) is a molecular diagnostics company developing a patented PCR platform and expanding into AI-driven assay design, while facing significant financial losses and a transition from COVID-19 test sales.
Who is the CEO of Co-Diagnostics Inc.?
Mr. Dwight H. Egan is the chief executive officer of Co-Diagnostics Inc. (CODX).
Where is Co-Diagnostics Inc. headquartered?
Co-Diagnostics Inc. (CODX) is headquartered in Salt Lake City, UT, United States.
What therapeutic areas does Co-Diagnostics Inc. focus on?
Co-Diagnostics Inc. develops therapies across Neurology, Immunology, Ophthalmology, Infectious Disease.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.