Co-Diagnostics Stock Surges on Ebola Assay News — The Fine Print Is Big
Co-Diagnostics shares surged 51% Tuesday after the company announced completion of an assay strategy for the Bundibugyo Ebola virus, though the test is not yet for sale and awaits regulatory approval. Trading volume topped 94 million shares. The company reported $8.23 million in cash at March 31 and a quarterly net loss of $9.14 million, raising concerns about its financial stability.