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Can Los Angeles Schools Test 700,000 Students and 75,000 Employees? That’s the Plan
https://www.nytimes.com/2020/08/16/us/los-angeles-schools-virus-testing.html
from the article: Clinical Reference Laboratory (CRL), one of the largest privately held testing laboratories in the U.S., will provide Los Angeles Unified with testing specimen collection kits and process the tests in CRL’s lab in Lenexa, Kan. CRL received FDA Emergency Use Authorization for CRL Rapid Response™, a saliva-based COVID-19 RT-PCR test that can be self-collected at home, work, school or any other setting. In partnership with Vive Concierge Inc., a minority-owned and woman-led advanced telemedicine, social impact and health-equity platform, it will deliver test results virtually and provide optional additional physician support to students, families and staff.
combine this article with:
Co-Diagnostics (NASDAQ:CODX) announces that partner privately held Clinical Reference Laboratory (CRL) has received the FDA nod for the emergency use of CRL Rapid Response, a saliva-based COVID-19 test for which samples can be self-collected using CODX's patented CoPrimer technology.
and
Congratulations to our partners Clinical Reference Laboratory for their participation in Los Angeles Unified's model #backtoschool testing program. #COVID19 #testandtrace https://t.co/eYf9e3LfeW
— Co-Diagnostics Inc (@Co_Diagnostics) August 17, 2020
I don't think I have ever owned a stock that went down 10 straight days. New record for me. You would think the company had some type of calamity. I am totally mystified.
Opti
I don't believe CODX is involved. From the press release
A common question that we receive is “what company is behind this assay?” The answer is – well, there isn’t one. We designed and validated SalivaDirect using several common and available reagents. If one reagent is out of stock or is too pricey, there are alternative reagents to use (see table below). Thus, no new manufacturing is needed. We will continue to validate new reagents through bridging studies and will share that information here. A complete list of reagents and catalog numbers are listed in the protocol.
Opti
So, this is the 4th time my stock account has peaked above a certain level, only to then crash 50% from that level right around earnings. Each time I was tempted to sell at the high level, but held off. This happened with ATP, INO, and now twice with CODX. Why don't I sell at the high level? Resistance to paying short-term capital gains.
With CODX the pattern is set. Within two weeks prior to earnings the stock rises dramatically and then right before and after earnings it drops dramatically. Same as with the other stocks. It doesn't matter what the earnings are and there is always some strange analyst report or other attack piece to blame for the drop, but it also really doesn't matter, the drop occurs regardless. Oh, and there also is a bunch of bogus law suits to blame. Law suits which mysteriously disappear right after the major share price drop.
Most of us sit looking at our 50% drop and are amazed. A few have figured it out and sell early, then just drift into the background, pocketing the $$$.
We all know the market is manipulated but somehow figure that it will not happen again. We fear that if we sell the pps will suddenly shoot up and leave us in the dust. Instead we sit like lumps and watch the pps drop 50%.
Stupid, I am.
Opti
The misses were by the analysts, not the company. One analyst was spot on. One out of three.
Opti
I never have trusted them. I subscribe only to watch what they are doing. Keep your enemies close.
Opti
My message to the SA editor:
It takes you 12 hours to correct a mistake? Looks like your previous headline was intentional. Did it accomplish its purpose in AH trading last night? When an error this blatant goes unaddressed for 2 hours it means on of three things: 1. It was intentional, 2. You're are simply grossly ignorant, or 3. You are flat out lazy. My guess is #1
they need to hear from people. you can contact the editor through this site: https://seekingalpha.com/author/sa-editor-douglas-w-house#
upper right had corner has a link to email him.
Opti
Correction printed.
Co-Diagnostics Q2 revenues $24M on continued demand for COVID-19 tests
Aug. 13, 2020 4:46 PM ET| About: Co-Diagnostics, Inc. (CODX)|By: Douglas W. House, SA News Editor
Co-Diagnostics (NASDAQ:CODX) Q2 results:
Revenue: $24.0M (+999%). Revenue largely comprised on COVID-19 test sales. 2019 sales of $61.6K were driven by the sale of two MDx devices to mosquito abatement districts and service revenue related to the design of custom tests for a large agricultural company.
Net income: $12.6M (+999%); EPS: $0.43 (+637.5%).
Cash consumption (6 mo.): ($0.3M) (+88.9%).
Final stages of principal design work and verification of multiplex panel for influenza A&B and COVID-19. Deployment planned this quarter.
Shares down 16% after hours.
Co-Diagnostics EPS misses by $0.16, misses on revenue
https://seekingalpha.com/news/3605440-co-diagnostics-q2-revenues-24m-on-continued-demand-for-covidminus-19-tests?utm_medium=email&utm_source=seeking_alpha&mail_subject=correction-codx-co-diagnostics-q2-revenues-24m-on-continued-demand-for-covid-19-tests&utm_campaign=rta-stock-news&utm_content=link-3
Opti
It appears the Seeking Alpha article is grossly incorrect. They claim a decrease in revenue from 2019 of 61%, but that apparently is based on misread revenue of 2019 as 61 million instead of 61 thousand. Revenue actually increased by a huge percentage.
Not the first time SA has been incorrect and probably because they have shorted the stock.
I keep saying it is a crooked market.
Opti
Here is one analyst that had it right.
http://codiagnostics.com/wp-content/uploads/2020/05/LH-21MAY20-Update.pdf
Opti
In order to understand why the stock is down in AH you have to understand how analysts are spinning this. If necessary you have to hold your nose and read the spin. Estimates were for 56 cents/share earnings, but were 43 cents/share. That is a miss. Then you have the technically correct but extremely misleading headlines, like the SA report.
We will see how the market responds tomorrow, but expect a drop. We will also see what happens to the law suits on Monday. Because CODX missed on earnings, maybe the lawyers will reload.
Watch closely and try to pick the next entry point.
i am in until April of 2021 because of long-term vs short-term gains. Painful year but hopefully profitable.
Opti
Great Summary
SALT LAKE CITY, Aug. 13, 2020 -- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today the filing of its operating results for the 3 month period ending June 30, 2020 on SEC Form 10-Q, and provided updates on Company developments.
Q2 2020 Highlights:
Company continues COVID-19 test sales and reports $24.04 million of revenue in Q2;
Net profit of $12.6 million in quarter and net income per common share of $0.43;
Stockholders' equity increased to $33.4 million compared to $1.7 million at the beginning of the year.
Gross margins of 70% on sales of Logix Smart(TM) COVID-19 test kits;
CoSara Diagnostics, Company's India joint venture, receives authorization from CDSCO in India to manufacture and sell COVID-19 tests and records profit for the 2nd Quarter and YTD;
Received FDA Emergency Use Authorization for COVID-19 test kit on April 3, 2020;
Cash on hand was $18.6 million as of June 30, 2020, an increase of $17.7 million over 12/31/2019;
Company is included in the Russell 2000(R) and Russell 3000(R) Index, widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
Q3 2020 Mid-Quarter Highlights:
Company records COVID-19 test and equipment sales orders approaching $50 million YTD, including joint venture sales in India, through mid-third quarter (unaudited);
Receives purchase orders from public and private organizations in nearly 50 countries and over 25 states in the U.S. YTD;
Company nears completion of principal design work and verification for Flu A, Flu B, and COVID-19 multiplex panel with anticipated deployment during Q3;
Company announced that its partner Clinical Reference Lab has received FDA Emergency Use Authorization for CRL Rapid Response(TM), a saliva-based COVID-19 test that can be self-administered at home, work or any other setting and then tested using Co-Diagnostics' Logix Smart COVID-19 tests based on patented CoPrimer(TM) technology.
"In the last 4 months since Co-Diagnostics received emergency use authorization from the FDA, the Company has successfully grown our internationally recognized business and brand. With clients in over 50 countries, 25 U.S. states, and validations of test accuracy from regulatory bodies of numerous countries around the world, Co-Diagnostics has established a distribution platform that we believe will continue to support sales and profitability as our tests have gained widespread acceptance in the market. We have created a test menu and established the production capacity to meet demand for tests as the nations of the world continue to battle the pandemic, and believe these efforts will continue to bolster the Company's durability in the months and years to come," said Dwight Egan, Chief Executive Officer.
The Company will host an earnings call at 4:30 pm EDT today. Participants can register for access to the webcast here. The call will be recorded and later made available on the Company's website.
About Emergency Use Authorization:
The Co-Diagnostics SARS-CoV-2 Test has been made available under an emergency access mechanism called an Emergency Use Authorization (EUA). The EUA is supported by the Secretary of Health and Human Service's (HHS's) declaration that circumstances exist to justify the use of in vitro diagnostics (IVDs) under EUA for the detection and/or diagnosis of COVID-19. An IVD made available under an EUA has not undergone the same type of review as an FDA cleared IVD. However, based on the totality of scientific evidence available, it is reasonable to believe that this IVD may be effective in the detection of COVID-19. The EUAs for these tests are in effect for the duration of the COVID-19 emergency, unless terminated or revoked (after which the tests may no longer be used). An FDA cleared IVD should be used instead of an IVD under EUA, when applicable and available.
Opti
Co-Diagnostics Q2 revenues down 61%; shares down 16% after hours
Aug. 13, 2020 4:46 PM ET|About: Co-Diagnostics, Inc. (CODX)|By: Douglas W. House, SA News Editor
Co-Diagnostics (NASDAQ:CODX) Q2 results:
Revenue: $24.0M (-61.0%). Revenue largely comprised on COVID-19 test sales. 2019 sales of $61.6M were driven by the sale of two MDx devices to mosquito abatement districts and service revenue related to the design of custom tests for a large agricultural company.
Net income: $12.6M (+999%); EPS: $0.43 (+637.5%).
Cash consumption (6 mo.): ($0.3M) (+88.9%).
Final stages of principal design work and verification of multiplex panel for influenza A&B and COVID-19. Deployment planned this quarter.
Shares down 16% after hours.
Co-Diagnostics EPS misses by $0.16, misses on revenue
https://seekingalpha.com/news/3605440-co-diagnostics-q2-revenues-down-61-shares-down-16-after-hours?utm_medium=email&utm_source=seeking_alpha&mail_subject=codx-co-diagnostics-q2-revenues-down-61-shares-down-16-after-hours&utm_campaign=rta-stock-news&utm_content=link-3
Opti
Beware the guy walking down the street having a conversation with himself.
Opti
CODX needs to follow this example:
Sorrento to Take Action Against Hindenburg Research for Statements Believed Intended to Manipulate Stock Price
Wed August 12, 2020 7:51 PM |Globe Newswire| About: SRNE
SAN DIEGO, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (SRNE) announced today that it believes it has uncovered fraudulent attempts to manipulate the Company’s stock.
On August 11, 2020, it was reported that an organization calling itself “Hindenburg Research” published claims regrading one of Sorrento’s COVID-19 diagnostic products. The report is believed to include false and/or misleading statements for the sole apparent purpose of negatively manipulating the company’s stock price.
Sorrento will collaborate with law enforcement and regulators to ensure that any criminal activity is investigated and rectified. Sorrento, through its legal counsel, Paul Hastings LLP, has demanded that the organization cease and desist from illegal and wrongful activity and retract false and/or misleading statements. Sorrento is also considering legal action.
Sorrento Therapeutics remains focused on developing a portfolio of COVID-19 solutions that spans diagnostics, prevention, early intervention and rescue therapies, including its rapid on-site detection test for SARS-CoV-2 Virus in saliva.
https://seekingalpha.com/pr/17970258-sorrento-to-take-action-against-hindenburg-research-for-statements-believed-intended-to
Opti
Constant manipulation of the market is wearing me out. If this goes back over 30 on earnings I will seriously consider cashing in and take the hit on short-term gains. I despise manipulation by short sellers. The ALWAYS ruin a good stock.
Opti
Co-Diagnostics, Inc. Announces Q2 2020 Earnings Release Date and Earnings Webcast
by Co-Diagnostics | Aug 11, 2020 | News Release |
Salt Lake City, Utah – August 11, 2020 – Co-Diagnostics, Inc. (Nasdaq:CODX) (the Company), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that it will release its second quarter 2020 earnings on August 13, 2020 after the close of trading on that day, and will hold an earnings call at 4:30 pm EDT. The call is expected to consist of prepared remarks by Company CEO Dwight Egan.
Analysts providing coverage for Co-Diagnostics will also be invited participate in a question and answer session. All other participants can register for access to the webcast here.
The call will be recorded and later made available on the Company’s website.
http://codiagnostics.com/co-diagnostics-announces-q2-2020-earnings-date-and-webcast/
Opti
Salt Lake City, Utah – August 11, 2020 – Co-Diagnostics, Inc. (Nasdaq:CODX) (the Company), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that it will release its second quarter 2020 earnings on August 13, 2020 after the close of trading on that day, and will hold an earnings call at 4:30 pm EDT. The call is expected to consist of prepared remarks by Company CEO Dwight Egan.
Analysts providing coverage for Co-Diagnostics will also be invited participate in a question and answer session. All other participants can register for access to the webcast here.
The call will be recorded and later made available on the Company’s website.
Opti
Five straight excruciating days. Where are the big buyers. This is wearing me down.
Opti
Response to earnings. Judging the way the market responded to APT and MRNA earnings, I am concerned we will see a steady decline the week following the announcement of CODX earnings. It seems a no brainer to sell on ER and then buy back a week later. The question is, could one gain enough profit to offset the difference between paying capital gains on short term vs long term? Anyone else considering this? If I am going to ride this one out until I qualify for long-term gains, I have to hold until April of next year. We are talking a difference of about 15% tax on gains.
Opti
I cursed on the dip. LOL
Opti
Hey, Beach! What is your major holding these days? Mine is CODX. Trying to hold for a full year.
Opti
New FDA-approved coronavirus test more comfortable than nasal swab: Co-Diagnostics CEO
Aug. 04, 2020 - 4:10 - Co-Diagnostics CEO Dwight Egan discusses his company getting FDA approval of a new, at-home coronavirus test, which he says can help keep a virus-safe workplace.
https://video.foxbusiness.com/v/6178023384001/#sp=show-clips
Opti
Moderna EPS beats by $0.03, beats on revenue
Aug. 5, 2020 7:13 AM ET |About: Moderna, Inc. (MRNA)|By: Mamta Mayani, SA News Editor
Moderna (NASDAQ:MRNA
MRNA78.46 0.48 0.62%
Moderna, Inc.
Moderna, Inc.
52 Week Range11.54 - 95.21Market Cap.28.81B
More »
(49,729 followers)
): Q2 GAAP EPS of -$0.31 beats by $0.03.
Revenue of $66.35M (+407.3% Y/Y) beats by $42.11M.
Shares +1.64% PM.
the PPS is definitely going to yoyo for the foreseen future, so there are some scary days ahead. I have determined to hold this one until June of next year. I am tired of paying the high tax rate on short-term gains. The long-term gain tax rate is about half on such a high-flying stock.
Opti
Probably but going forward this will definitely climb as analysts re-set the projected price based on vastly increased revenue and earnings.
Opti
Pre-market currently at 29.44
Pre-Market Volume 138,105
Pre-Market High $30.80 (04:05:21)
Pre-Market Low $28.33 (08:43:39)
Note: I anticipate considerable manipulation today as shorts scramble to cover. I hope they get burried.
Opti
Preview of CODX earnings. Note: CODX and APT have been tracking together for the past 6 months.
Alpha Pro Tech reports Q2 results
Aug. 4, 2020 9:04 AM ET |About: Alpha Pro Tech, Ltd. (APT)|By: Jignesh Mehta, SA News Editor
Alpha Pro Tech (NYSEMKT:APT): Q2 GAAP EPS of $0.46.
Revenue of $25.5M (+123.3% Y/Y)
Shares -4.26% PM.
https://seekingalpha.com/news/3599842-alpha-pro-tech-reports-q2-results?utm_medium=email&utm_source=seeking_alpha&mail_subject=breaking-apt-earnings&utm_campaign=rta-stock-news&utm_content=link-3
Opti
Alpha Pro Tech reports Q2 results
Aug. 4, 2020 9:04 AM ET|About: Alpha Pro Tech, Ltd. (APT)|By: Jignesh Mehta, SA News Editor
Alpha Pro Tech (NYSEMKT:APT): Q2 GAAP EPS of $0.46.
Revenue of $25.5M (+123.3% Y/Y)
Shares -4.26% PM.
https://seekingalpha.com/news/3599842-alpha-pro-tech-reports-q2-results?utm_medium=email&utm_source=seeking_alpha&mail_subject=breaking-apt-earnings&utm_campaign=rta-stock-news&utm_content=link-3
Opti
Not a lot of people follow CODX on I Hub. If this were happening to INO, there would be 100 posts. Here on CODX, nada.
Opti
One step at a time
Opti
Co-Diagnostics up 7% on U.S. launch of COVID-19 saliva test
Aug. 3, 2020 8:12 AM ET|About: Co-Diagnostics, Inc. (CODX)|By: Douglas W. House, SA News Editor
Co-Diagnostics (NASDAQ:CODX) announces that partner privately held Clinical Reference Laboratory (CRL) has received the FDA nod for the emergency use of CRL Rapid Response, a saliva-based COVID-19 test for which samples can be self-collected using CODX's patented CoPrimer technology.
Shares up 10% premarket on light volume.
https://seekingalpha.com/news/3598875-co-diagnostics-up-7-on-u-s-launch-of-covidminus-19-saliva-test?utm_medium=email&utm_source=seeking_alpha&mail_subject=codx-co-diagnostics-up-7-on-u-s-launch-of-covid-19-saliva-test&utm_campaign=rta-stock-news&utm_content=link-3
Opti
Co-Diagnostics, Inc. Technology to be Used in FDA-Authorized Self-Collected COVID-19 Saliva Test
https://www.prnewswire.com/news-releases/co-diagnostics-inc-technology-to-be-used-in-fda-authorized-self-collected-covid-19-saliva-test-301104409.html
From the Article: "We believe that CRL's selection of the Co-Diagnostics platform, and their successful emergency use authorization from the FDA, speaks volumes about the quality, sensitivity, and specificity of our CoPrimer primer and probe technology," remarked Dwight Egan, CEO of Co-Diagnostics. "Co-Diagnostics is pleased to be a part of a testing initiative with so much potential to help people return to work, school, and normal life as quickly and safely as possible.
Opti
INO, APT, and CODX continue in this 3-company race. Every few weeks it seems one or the other is in the lead. As of close today:
CODX $24.00
APT $21.77
INO $19.44
CODX surges into the lead
Opti
Clinical Reference Laboratory Receives FDA Emergency Use Authorization for Best-in-Class Self-Collected COVID-19 Saliva Test
July 31, 2020, 11:23 AM EDT
"People should not have to choose between comfort or convenience and
accuracy. CRL Rapid Response™ offers convenient self testing with better
sample collection, protection and transport, combined with superior testing
methodology, which leads to more accurate results and, ultimately, better
public health outcomes," said Dr. Heather Fehling, CRL's Chief Scientific
Officer, Molecular Diagnostics. "Together with our partners Co-Diagnostics and OraSure DNA Genotek, we are committed to providing the most accurate and user-friendly testing process available. We believe this test will make a meaningful difference in our nation's ability to re-open safely."
https://www.bloomberg.com/press-releases/2020-07-31/clinical-reference-laboratory-receives-fda-emergency-use-authorization-for-best-in-class-self-collected-covid-19-saliva-test
Opti
Inovio up 4% on Orphan Drug tag for INO-3107
Jul. 29, 2020 8:12 AM ET|About: Inovio Pharmaceuticals... (INO)|By: Douglas W. House, SA News Editor
The FDA designates Inovio Pharmaceuticals' (NASDAQ:INO) INO-3107 an Orphan Drug for the treatment of recurrent respiratory papillomatosis (RRP), a rare disease characterized by the growth of noncancerous tumors, papillomas, in the airways from the nose and mouth into the lungs caused by two types of human papillomavirus (HPV 6 and HPV 11).
A 63-subject Phase 1/2 clinical trial is in process.
Among the benefits of Orphan Drug status in the U.S. is a seven-year period of market exclusivity for the indication, if approved.
The company says INO-3107 is a DNA-encoded monoclonal antibody that targets HPV 6.
Shares up 3% premarket on modest volume.
INO, APT, and CODX continue in this 3-company race. Every few weeks it seems one or the other is in the lead. As of close today:
INO $21.91
CODX $21.82
APT $21.75
Almost a dead heat.
Opti
No volume but holding on a very down day
looks like shorts will have opportunities galore over the next week.
Opti