Benzinga | Oct 2, 2020 10:41AM EDT

Why Co-Diagnostics Stock Is Trading Higher Today

Co-Diagnostics (NASDAQ:CODX) shares are trading higher on Friday after the company announced its logic smart kit will be used with the newly authorized Saline Oral rinse collection.

Co-Diagnostics is a molecular diagnostics company. It develops, licenses, and commercializes molecular technologies such as lab systems (MDx device) and manufacture and sell reagents used for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). CDI's low-cost system uses its tests to diagnose tuberculosis, Zika, hepatitis B and C, Malaria, dengue and HIV.

The company's diagnostics systems enable very rapid, low-cost, sophisticated molecular testing for organisms and genetic diseases by greatly automating historically complex procedures in both the development and administration of tests.

Co-Diagnostics shares traded up 6.01% to $13.75 on Friday. The stock has a 52-week high of $30.99 and a 52-week low of 85 cents.