Co-Diagnostics Trims Losses Amid Regulatory Push for PCR Platform
Salt Lake City-based Co-Diagnostics reported a net loss of $6.3 million for the second quarter of 2026, narrowing its deficit from $7.7 million in the same period last year as the company shifts focus toward FDA submissions and international manufacturing expansion for its molecular testing technology.
Revenue for the quarter remained modest at $0.17 million, nearly identical to the $0.16 million reported in 2025. The company’s reduction in net loss was largely driven by a decrease in operating expenses, which fell to $6.3 million from $8.2 million, following cuts in research, development, and administrative costs. As of June 30, the firm held $3.6 million in cash and cash equivalents.
CEO Dwight Egan pointed to the company’s recent 510(k) submission to the U.S. Food and Drug Administration for its respiratory multiplex test as a primary milestone. Beyond regulatory efforts, Co-Diagnostics has been scaling its footprint in Saudi Arabia through CoMira Diagnostics and advancing tuberculosis testing initiatives in India via its CoSara joint venture. The company also raised $3.0 million through a private placement during the quarter to support these strategic initiatives.
Comments (0)
No comments yet. Be the first!