The following is a summary of the Co-Diagnostics, Inc. (CODX) Q4 2024 Earnings Call Transcript:

Financial Performance:

• For fiscal year 2024, Co-Diagnostics reported a decrease in total revenue to $3.9 million, compared to $6.8 million in the prior year.

• Gross profit increased to $2.9 million for the full year 2024, up from $2.6 million in 2023.

• Total operating expenses decreased to $43.0 million from $45.3 million in 2023.

• Net loss for 2024 was $37.6 million, or a loss of $1.24 per fully diluted share, compared to a net loss of $35.3 million, or a loss of $1.20 per fully diluted share in the prior year.

Business Progress:

• Co-Diagnostics advanced the development of the Co-Dx PCR platform and associated test pipeline in 2024 and inaugurated new manufacturing facilities in South Salt Lake, Utah, and India.

• The company made adjustments to its Co-Dx PCR COVID-19 test, planning a new 510(k) submission after an initial withdrawal, to meet FDA requirements.

Opportunities:

• Co-Diagnostics is engaging in strategic partnerships with potentially high impact on the global healthcare field including collaboration with the Bill & Melinda Gates Foundation and NIH's RADx Tech program for developing diagnostic tests for TB, respiratory diseases, and HPV multiplex, aimed at highly affected regions such as India and Africa.

More details: Co-diagnostics IR

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