Founded in 1993 through brothers Tom and David Gardner, The Motley Fool is helping millions of people gain monetary freedom through our website, podcasts, books, newspaper columns, radio shows and music services.High-end investment.
Co-Diagnostics shares (NASDAQ: CODX) fell 7.2% at 3:34 p.m.Wednesday, a day when primary inventory indices posted false gains.There has been no further progress on why Co-Diagnostics inventory has fallen.The maximum likely to blame for the drop is a continuous sale resulting from Abbott Labs (NYSE: ABT) obtaining emergency use authorization (USA) last week for its fast and affordable COVID-19 antibody test.
Co-Diagnostics stocks have fallen by approximately 25% since Abbott announced on August 26 that the FDA had issued to the US.But it’s not the first time For your control of BinaxNOW COVID-19 antibodies. Abbott’s control fee is $5 according to the sample.15 minutes without the special equipment required.
How worried is this progression to Co-Diagnostics? The company on Tuesday provided an unscheduled operational update highlighting the importance of RT-PCR testing (or opposite transcriptase polymerase chain reaction) as its Logix Smart COVID-19 test, indicating that these tests remain the “gold standard” for new coronavirus tests.This press release may not have been a reaction to investors’ considerations of Abbott’s competition, but it may also have been perceived in this way by some readers.
While Co-Diagnostics is right that RT-PCR verification is the option, Abbott will most likely make important progress with its BinaxNOW verification.Low prices and quick effects on the site will likely make the accuracy of verification smart enough for many fitness services.Co-Diagnostics is one of many corporations that may lose market share.
What can make a difference for the fitness industry?Strong sales growth.
Co-Diagnostics hopes to bring its expansion to life with an extension of its controls.The company said in its update Tuesday that it added a respiratory virus panel to its COVID-19 controls “despite the upcoming flu season and the ongoing coronavirus pandemic..” This check can be popular with customers, especially if the flu season in autumn and winter is bad.