Co-Diagnostics Raises $3.8 Million through Shares Offering, Advances Molecular Diagnostic Technologies

Co-Diagnostics has closed a $3.8 million shares offering. The company is a molecular diagnostics firm that develops, manufactures, and markets diagnostics technologies for detecting and analyzing nucleic acid molecules. Its technologies are used for tests designed for infectious diseases and genetic diseases. Co-Diagnostics is developing a portable diagnostic device and test system for point-of-care and at-home use.

Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company, has closed a registered direct offering of 9,619,000 shares of common stock at $0.40 per share, raising approximately $3.8 million in gross proceeds Co-Diagnostics, Inc. Announces Closing of $3.8 Million ...^[1]. The offering was priced at-the-market under Nasdaq rules and closed on September 18, 2025 Co-Diagnostics prices $3.8 million registered direct offering^[2].

The company plans to use the proceeds for working capital and general corporate purposes Co-Diagnostics, Inc. Announces Closing of $3.8 Million ...^[1]. Maxim Group LLC acted as the sole placement agent for the offering, which was conducted under an effective S-3 shelf registration statement Co-Diagnostics, Inc. Announces Closing of $3.8 Million ...^[1].

Co-Diagnostics develops and manufactures diagnostic technologies focused on the detection and analysis of nucleic acid molecules. The company's proprietary technology is used for its Co-Dx PCR at-home and point-of-care platform, as well as for identifying genetic markers for various applications beyond infectious disease Co-Diagnostics prices $3.8 million registered direct offering^[2].

The offering's pricing at $0.40 per share represents a significant discount to recent trading prices, indicating potential financial pressure. The substantial share count being issued (9.6+ million shares) signals meaningful dilution for existing shareholders Co-Diagnostics, Inc. Announces Pricing of $3.8 Million Registered Direct Offering of Common Stock Priced At-The-Market Under Nasdaq Rules^[3].

The company's current financial health is reflected in its recent quarterly results, which showed a net loss of $7.7 million, or $0.23 per share, and an 89% year-over-year revenue decline. The company has also announced a strategic Memorandum of Understanding with a regional manufacturing and distribution company in Saudi Arabia to explore a joint venture for developing and selling Co-Dx intellectual property in the Middle East and North Africa Co-Diagnostics prices $3.8 million registered direct offering^[2].

While the capital infusion provides short-term financial flexibility, the dilutive impact and pricing terms suggest challenging conditions that warrant careful assessment of the company's underlying business trajectory and cash burn rate Co-Diagnostics, Inc. Announces Pricing of $3.8 Million Registered Direct Offering of Common Stock Priced At-The-Market Under Nasdaq Rules^[3].