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NEW YORK – Molecular diagnostic company Co-Diagnostics announced Thursday that it has entered into an agreement with institutional investors for a $4.2 million registered direct offering.

The offering is for the purchase of 470,000 shares of common stock at the purchase price of $9.00 per share, with the closing expected to occur on or before March 2, 2020.

The exclusive lead placement agent for the offering is HC Wainwright. Maxim Group is acting as co-placement agent.

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Nature News reports the US National Institutes of Health is investing in studies of the long-term effects of COVID-19.

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