Co-Diagnostics raises $3.8 million in registered direct offering

Co-Diagnostics Inc. (NASDAQ: CODX) announced it has entered into a securities purchase agreement with institutional investors for a registered direct offering of 9,619,000 shares of common stock at $0.40 per share.

The molecular diagnostics company expects to receive approximately $3.8 million in gross proceeds before deducting placement agent fees and other offering expenses. The company plans to use the proceeds for working capital and general corporate purposes.

The offering is expected to close on or about September 18, 2025, subject to customary closing conditions. Maxim Group LLC is serving as the sole placement agent for the transaction.

The shares 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 offering is priced at-the-market under Nasdaq rules.

Co-Diagnostics develops, manufactures and markets molecular diagnostic technologies for tests designed using DNA or RNA analysis. The Utah-based company also uses its technology for its Co-Dx PCR at-home and point-of-care platform and to identify genetic markers for applications beyond infectious disease.

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