Sumary of Why Co-Diagnostics Blasted 21% Higher on Thursday:
- The healthcare-testing specialist’s shares closed over 21% higher on the day, due largely to news of a fresh patent awarded to the company.
- So what Co-Diagnostics announced that its CoPrimer diagnostics platform, which underpins testing products — like its popular-for-obvious-reasons Logix Smart for COVID-19 — has been granted a patent in South Korea.
- “We believe that this patent granted by South Korea provides additional validation of the uniqueness and versatility of the CoPrimer platform,” the company quoted CEO Dwight Egan as saying.
- He added that the overwhelming majority of the diagnostics products the healthcare company has sold have been to repeat customers.
- Nevertheless, it’s a relatively affluent market for the company.