--- title: "Co-Diagnostics reports first quarter 2026 results" url: "https://aibio.space/news/co-diagnostics-reports-first-quarter-2026-results-8-2-million-cash/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-14" section: "Company Updates" tickers: "NASDAQ:CODX" source: "https://www.sec.gov/Archives/edgar/data/1692415/000149315226023059/ex99-1.htm" summary: "The net loss was $9.1 million, or $4.06 per share, and cash and cash equivalents were $8.2 million at March 31, 2026. The company said enrollment in its up" --- By the aibio.space news desk. Sources - [Co-Diagnostics, Inc. 8-K (2026-05-14)](https://www.sec.gov/Archives/edgar/data/1692415/000149315226023059/ex99-1.htm) - [Co-Diagnostics, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1692415/000149315226014158/) [CODX](https://aibio.space/companies/diagnostics/) 2026-05-14 # Co-Diagnostics reports first quarter 2026 results and $8.2 million in cash Tickers [CODX](https://aibio.space/companies/diagnostics/) The net loss was $9.1 million, or $4.06 per share, and cash and cash equivalents were $8.2 million at March 31, 2026. The company said enrollment in its upper respiratory test studies is complete. ## Key facts - **Company**: Co-Diagnostics, Inc. (NASDAQ: CODX) - **News type**: Company Updates - **Primary source**: [Co-Diagnostics, Inc. 8-K (2026-05-14)](https://www.sec.gov/Archives/edgar/data/1692415/000149315226023059/ex99-1.htm) *A blood sample drawn into a pipette. CC0, via rawpixel. The picture shows the field, not the companies named.* Co-Diagnostics, Inc. (Nasdaq: [CODX](https://aibio.space/companies/diagnostics/)) reported financial results for the quarter ended March 31, 2026 on May 14, 2026, in an [exhibit to a Form 8-K](https://www.sec.gov/Archives/edgar/data/1692415/000149315226023059/ex99-1.htm). Revenue was $0.15 million, compared with $0.05 million in the first quarter of 2025. Operating expenses were $9.2 million, compared with $8.6 million a year earlier, driven by research and development spending on clinical studies and other growth initiatives. ## The quarter The operating loss was $9.2 million, compared with $8.6 million. The net loss was $9.1 million, or $4.06 per share, compared with $7.5 million, or $7.05 per share, in the same period last year. The release says the larger loss reflects higher operating expenses and lower other income, including the absence of certain remeasurement gains recognized in the prior-year period. Adjusted EBITDA loss was $8.7 million, compared with $7.4 million. Cash and cash equivalents totaled $8.2 million as of March 31, 2026, compared with $11.9 million as of December 31, 2025. The company said it expects continued investment in clinical development, regulatory and commercialization activities. ## Recent developments The company completed enrollment in its upper respiratory Co-Dx test clinical studies, with more than 1,400 patients enrolled. Egan said the company believes it has generated the data needed to support a regulatory submission for the upper respiratory multiplex test and is advancing toward a 510(k) filing with the FDA. In India, CoSara Diagnostics received a CDSCO license to manufacture and sell the CoSara PCR Pro instrument, and CoSara's manufacturing facility received ISO 13485 certification. The company also showcased the platform at trade shows in Seoul and Dubai. The company initiated shipments of PCR Pro instruments and tuberculosis test materials to India for upcoming clinical performance studies. CoSara's territory now also covers Bangladesh, Pakistan, Nepal and Sri Lanka, which the company says raises the regional total addressable market to approximately $13 billion. Through CoMira Diagnostics, the company advanced its manufacturing facility in Sudair Industrial City in the Kingdom of Saudi Arabia through regulatory approval and lease execution. The company also joined a European trade mission and received a new international patent in Japan. ## Regulatory status The release says the Co-Dx PCR platform is subject to review by the FDA and other regulators and is not yet available for sale. No 510(k) had been filed when the release came out; the company said it was advancing toward one. The release gives no sensitivity or specificity figures from the 1,400-patient study. ## Weak points Sales are tiny. Revenue of $0.15 million for the quarter followed $622,489 for all of 2025, down from $3.9 million in 2024, so the quarter's rise from $0.05 million is off a very low base. The company burned through cash: $8.2 million at March 31, 2026 against $11.9 million at December 31, 2025, with operating expenses of $9.2 million for the quarter. The XBRL data show operations used $29.1 million of cash in 2025. The India tuberculosis work is still at the stage of preparing clinical performance studies, which Egan called one of the most significant near-term opportunities; that is the company's view. ## Financial position The XBRL data for fiscal 2025 shows revenue of $622,489, compared with $3.9 million in fiscal 2024. Research and development expense was $19.1 million in 2025 and $21.0 million in 2024. The net loss was $46.9 million in 2025 and $37.6 million in 2024. Year-end cash and cash equivalents were $2.9 million at the end of 2024, with short-term investments of $26.8 million. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CODX Co-Diagnostics, Inc. NASDAQ ยท United States Open the starter desk ## More in Company Updates Company Updates ### [PTC reports third-quarter 2026 revenue of $358 million and raises product guidance](https://aibio.space/news/ptc-reports-third-quarter-2026-revenue-358-million-raises-product/) Oct 29, 2026 Company Updates ### [Processa clears VT-7208 CSU IND and names a new executive chair](https://aibio.space/news/processa-clears-vt-7208-csu-ind-names-new-executive-chair/) Oct 29, 2026 Company Updates ### [Kiora in-licenses late-stage KIO-401 for retinal artery occlusion](https://aibio.space/news/kiora-licenses-late-stage-kio-401-retinal-artery-occlusion/) Oct 29, 2026 --- Source page: https://aibio.space/news/co-diagnostics-reports-first-quarter-2026-results-8-2-million-cash/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Co-Diagnostics reports first quarter 2026 results", 2026-05-14, https://aibio.space/news/co-diagnostics-reports-first-quarter-2026-results-8-2-million-cash/