Co-Diagnostics prices $7 million stock offering at $0.55 per share

Co-Diagnostics Inc. (NASDAQ: CODX) announced it has entered into a securities purchase agreement with institutional investors for a registered direct offering of 12,727,272 shares of common stock at $0.55 per share.

The Salt Lake City-based molecular diagnostics company expects to receive gross proceeds of approximately $7 million before deducting placement agent fees and other offering expenses. The offering is priced at-the-market under Nasdaq rules.

Co-Diagnostics plans to use the proceeds for working capital and general corporate purposes. The offering is expected to close on or about October 29, 2025, subject to customary closing conditions.

Maxim Group LLC is serving as the sole placement agent for the transaction.

The securities are being offered under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on April 6, 2023. The company will file a prospectus supplement with the SEC related to the offering.

Co-Diagnostics develops, manufactures and markets molecular diagnostic technologies for tests designed to detect nucleic acid molecules. The Utah-based company also uses its technology to design tests for its Co-Dx PCR platform and identify genetic markers for applications beyond infectious disease.

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