Key Highlights

  • Co-Diagnostics (CODX) shares advanced 9.43% to $2.90 during Friday’s premarket session
  • CoSara Diagnostics, the firm’s Indian joint venture, secured distribution rights across Bangladesh, Pakistan, Nepal, and Sri Lanka
  • The territorial addition brings CoSara’s estimated addressable market in South Asia to approximately $13 billion
  • Key offerings planned for these markets include the PCR Pro® point-of-care system and SARAGENE® diagnostic solutions, subject to regulatory clearance
  • The venture will conduct a virtual distributor briefing in Q2 2026, followed by an in-person training event during summer

Co-Diagnostics (CODX) shares jumped 9.43% to reach $2.90 during Friday’s premarket hours following the announcement of a significant geographic expansion for its Indian subsidiary.


CODX Stock Card
Co-Diagnostics, Inc., CODX

CoSara Diagnostics Pvt. Ltd., formed through a partnership between Co-Dx and Ambalal Sarabhai Enterprises Limited (ASE Group), entered into an agreement expanding its commercial territory throughout South Asia. The expansion encompasses Bangladesh, Pakistan, Nepal, and Sri Lanka.

This territorial growth elevates CoSara’s projected addressable market within the region to approximately $13 billion, derived from company research combined with external market intelligence.

The agreement aims to facilitate the launch of two primary offerings: the CoSara PCR Pro® point-of-care diagnostic instrument and the SARAGENE® testing portfolio. Both product lines require regulatory authorization within each target territory.

CoSara has begun developing distribution infrastructure throughout the four expansion countries. Activities include navigating regulatory requirements, pinpointing priority customer groups, and partnering with regional distributors.

Executive Perspectives on Regional Growth

Mohal Sarabhai, CEO of CoSara, highlighted South Asia’s substantial and expanding demand for convenient, non-invasive molecular diagnostics. He identified tuberculosis screening, HPV detection, and respiratory infection testing as key focus areas.

Dwight Egan, CEO of Co-Diagnostics, characterized the expansion as aligned with the company’s infrastructure-led approach. The organization emphasizes establishing local production capabilities and distribution networks ahead of commercial launches—a framework being implemented across the United States, South Asia, and the Middle East-North Africa region.

Egan indicated the strategy positions Co-Dx to achieve global scalability for its PCR point-of-care technology.

CoSara will engage potential distributors through a virtual information session scheduled for Q2 2026. A face-to-face distributor conference and training program will follow during summer months.

Current Stock Position

CODX had been trading near its 52-week bottom of $2.04 prior to Friday’s movement. The 9.43% premarket advance elevated shares to $2.90.

The PCR Pro® instrument and associated platform technologies remain under FDA evaluation and have yet to receive commercial clearance.

During March, Co-Diagnostics secured a Japanese patent protecting its PCR platform innovations. The company also recently restored NASDAQ listing compliance following a period addressing exchange requirements.

The $13 billion addressable market projection reflects combined internal analysis and third-party research. Realized revenue opportunities will ultimately depend on regulatory outcomes and distributor onboarding progress across the four expansion territories.