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Co-Diagnostics, Inc. (NASDAQ: CODX ) shares were trading higher Monday after the company announced it will provide COVID-19 tests to U.S. Clinical Laboratory Improvement Amendments, or CLIA , labs. Co-Diagnostics is a molecular diagnostics company with a patented platform for the development of diagnostic tests. The CLIA regulate laboratory testing and require clinical laboratories to be certified by their state as well as the Center for Medicare and Medicaid Services before they can accept human samples for diagnostic testing. Following a recent change to the Food and Drug Administration’s policy toward the coronavirus outbreak, the company’s coronavirus test kits are now available to laboratories certified under the CLIA for use according to the FDA guidelines, Co-Diagnostics said in a press release. Co-Diagnostics said it is in discussions with qualified CLIA laboratories that can use COVID-19 tests built on Co-Diagnostics platform technology in their emergency use authorization submissions with the FDA. “We believe this change will allow the diagnostics industry to respond to the developing situation much more rapidly and effectively, and we applaud the FDA for taking such aggressive action to address the coronavirus outbreak,” CEO Dwight Egan said in a statement. Co-Diagnostics shares were trading up 16.33% at $15.39 at the time of publication Monday. The stock has a 52-week high of $21.75and a 52-week low of 69 cents. Related Links: Diagnosis: Volatility — Every Coronavirus-Related Stock That Was Halted For Trading Today Alpha Pro Tech Says Order For M Face Masks Will Be Fulfilled See more from Benzinga JD.com Trades Higher On Q4 Results, Announces CFO Succession Shark Tank Host Barbara Corcoran Loses 0,000 In Email Phishing Scam Foot Locker Reports Mixed Q4 Earnings, Store Sales Declined 1.6% © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
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