Co-Diagnostics (CODX) Announces Milestone of Over 10 Million COVID-19 Tests Sold

Co-Diagnostics, Inc. (Nasdaq: CODX) (the "Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it has sold over 10 million of its Logix Smart™ COVID-19 Test Kits to its domestic and international network of laboratories, hospitals, and distributors.

In conjunction with this milestone, the Company has also announced strong revenue in Q4 2020 anticipated to exceed that of Q3 2020, further underscoring the success of the Company's business model.

"We are pleased to be able to share this milestone with our shareholders and are proud of what we have been able to accomplish this year, including launching 3 critical COVID-19 tests," remarked Dwight Egan, CEO of Co-Diagnostics. "These products enable us to address the needs of different countries of the world in the battle against the coronavirus, and to differentiate COVID-19 from influenza which the World Health Organization has estimated may afflict one to 1 billion people per year. To be able to excel in an efficient, profitable manner is a credit to the quality of our patented CoPrimer™ technology platform, our valuable distributor and customer network, and dedication of our growing team of personnel.

"Our achievements over the past year support our belief that we have established a diverse, successful business model that has propelled us into an internationally recognized brand of molecular diagnostics, and that will continue to drive success of our COVID-19 tests other molecular diagnostic tools and applications. Management remains committed to achieving our long-term goals of improving the lives of our customers and their families by providing safe, high quality and cost-effective diagnostics across the globe, as we have already done for millions of people during the coronavirus pandemic."

In addition to its Logix Smart COVID-19 test, the Company also has regulatory approvals for other in vitro diagnostics including Flu A/Flu B/COVID-19, a SARS-CoV-2 2-gene multiplex test, and a multiplex test for Zika/dengue/chikungunya among others. Co-Diagnostics also markets an array of vector control multiplex products to test mosquito populations for the presence of certain viruses, and is actively developing products for use for liquid biopsy as well as for next-gen sequencing ag-bio applications. The Company's joint venture in India, CoSara Diagnostics Pvt Ltd, has received CDSCO clearance for RT-PCR tests for COVID-19, a SARS-CoV-2 (2-gene multiplex test), Mycobacterium tuberculosis, malaria, hepatitis B, hepatitis C and human papillomavirus (HPV) to be manufactured and sold as IVDs in the Indian market.

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