Skip to main content
Premium Trial:

Request an Annual Quote

Co-Diagnostics Signs Agreements to Sell $5.5M in Stock

NEW YORK (GenomeWeb) — Co-Diagnostics announced today that it has signed definitive agreements to sell $5.5 million in common stock to institutional investors through a registered direct offering.

According to Co-Diagnostics, the agreements call for the sale of roughly 3.9 million shares at $1.40 per share. The offering is expected to close on Monday. HC Wainwright is the exclusive placement agent for the offering.

Salt Lake City, Utah-based Co-Diagnostics said it intends to use the proceeds of the offering to advance its ongoing infectious disease testing and agrigenomics initiatives, to further develop and commercialize applications of its CoPrimer PCR technology in the liquid biopsy and next-gen sequencing markets, to expand its sales efforts, and for working capital and other general corporate purposes.

Yesterday, Co-Diagnostics said it had sold $3 million worth of preferred stock in a transaction that eliminated its debt.

The Scan

Hormone-Based Gene Therapy to Sterilize Domestic Cat

A new paper in Nature Communication suggests that gene therapy could be a safer alternative to spaying domestic cats.

Active Lifestyle Linked to Type 2 Diabetes Prevention in People at High Genetic Risk

A study in the British Journal of Sports Medicine shows that an active lifestyle goes a long way in type 2 diabetes prevention.

Beneficial, Harmful Effects of Introgression Between Wild and Domesticated European Grapes

A paper in PNAS shows that European wild grapevines were an important resource for improving the flavor of cultivated wine grapes.

Genetic Ancestry of South America's Indigenous Mapuche Traced

Researchers in Current Biology analyzed genome-wide data from more than five dozen Mapuche individuals to better understand their genetic history.