Co‑Diagnostics announced a registered direct offering of 12,727,272 shares of common stock at a price of $0.55 per share, expected to generate gross proceeds of approximately $7 million. The offering is priced at‑the‑market under Nasdaq rules and is slated to close on or about 29 October 2025.
The company will deploy the proceeds for working capital and general corporate purposes, supporting the ongoing development of its Co‑Dx PCR platform and the expansion of its test pipeline. The financing follows recent investments in manufacturing capacity and regulatory submissions for its COVID‑19, TB, respiratory multiplex, and HPV assays.
This equity raise strengthens Co‑Diagnostics’ balance sheet amid continued operating losses and the need for additional capital to fund research and commercialization. The transaction provides a liquidity buffer as the company pursues FDA clearance for its COVID‑19 test and initiates clinical evaluations for its next‑generation diagnostics.
The offering is the second direct equity raise in a short period; a prior registered direct offering closed on 18 September 2025, raising approximately $3.8 million by selling 9,619,000 shares at $0.40 each. The new offering is priced at a sub‑$1 level, resulting in a significant dilutive effect on existing shareholders.
Co‑Diagnostics also announced a definitive agreement to establish a joint venture, CoMira Diagnostics, in Saudi Arabia with Arabian Eagle Manufacturing. The joint venture aims to localize the Co‑Dx PCR platform across the Middle East and North Africa.
Maxim Group LLC served as the sole placement agent for the offering.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.