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NEW YORK – Molecular diagnostics firm Co-Diagnostics said Tuesday that it is has closed a previously announced direct offering of 3.4 million shares of common stock for a purchase price of $1.45 per share and gross proceeds of about $5.0 million.

The Salt Lake City, Utah-based company said it intends to use the net proceeds from the offering for further commercialization and expansion of its infectious disease testing, agrigenomics, and vector control verticals.

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