Co-Diagnostics Stock Drops 28% Despite Saudi Partnership Amid FDA Regulatory Review

Co-Diagnostics Inc. (CODX) shares fell 28.26% to $0.46 in pre-market trading despite a strategic partnership with a Saudi Arabian partner to develop and distribute its Co-Dx PCR platform technology throughout the Middle East and North Africa. The proposed joint venture aims to license Co-Diagnostics' intellectual property and provide operational support, infrastructure, and regulatory expertise. The Co-Dx PCR platform is subject to FDA regulatory review and is not yet commercially available.