Co-Diagnostics Inc (CODX)

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Co-Diagnostics at a three-month high extending post-merger gains
Dec. 27, 2021 3:17 PM ETCODXBy: Dulan Lokuwithana, SA News Editor1 Comment
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Co-Diagnostics (CODX +12.1%) shares are trading at the highest level since mid-September after the company announced a transaction under which Advanced Conceptions and Idaho Molecular will become two of its subsidiaries.
On Dec 21, the company has struck two separate agreements and plans of mergers with its wholly-owned subsidiaries, Advanced Conceptions Acquisition and IDMO Acquisition, to make Advanced Conceptions and Idaho Molecular two of its own subsidiaries, respectively.
In addition, on Wednesday, Co-Diagnostics (NASDAQ:CODX) disclosed an update to the company’s Joint Development & License Agreement signed with Advanced Conceptions in February for an at-home/point-of-care testing device. Per the terms, Advanced Conceptions has subcontracted several of its obligations to Idaho Molecular.
A maker of PCR tests for the diagnosis of COVID-19, Co-Diagnostics (CODX) has traded higher in line with today’s gains of test makers.