Co-Diagnostics, Inc. (NASDAQ:CODX) shares are trading higher Monday after the company signed a definitive agreement with Arabian Eagle to establish CoMira Diagnostics and localize its Co-Dx PCR platform across the Middle East.
- CODX is surging to new heights today. Watch the momentum here.
What To Know: The new Saudi-based joint venture will manufacture, assemble, distribute and commercialize Co-Dx technologies, including the company's upcoming Co-Dx PCR platform, across Saudi Arabia and 18 other countries throughout the Middle East and North Africa.
CoMira's mission supports Saudi Vision 2030, focusing on technology localization, healthcare innovation and industrial diversification. The partners plan to pursue regulatory clearance with the Saudi Food & Drug Administration, which they believe will help facilitate market entry into other regional territories.
Co-Diagnostics CEO Dwight Egan said the collaboration expands the company's healthcare innovations into a large and growing market for medical devices and point-of-care diagnostics. Arabian Eagle CEO Ihssan Rjoob added that the partnership will combine international innovation with local leadership to advance health security and sustainable industrial growth.
The agreement gives CoMira exclusive rights to manufacture and commercialize Co-Dx technologies, including existing PCR diagnostic products and the upcoming Co-Dx PCR platform, which is currently under regulatory review.
How To Buy CODX Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Co-Diagnostics' case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
CODX Price Action: At the time of writing, Co-Diagnostics stock was trading 188.28% higher at $1.02, according to data from Benzinga Pro.
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