Co-Diagnostics Stock Surges on Ebola Test Push, But One Filing Shows the Catch
Co-Diagnostics shares surged 78% to $9.03 Tuesday after the company announced progress on a PCR test for the Bundibugyo Ebola strain amid a fast-spreading outbreak in central Africa. Over 46.5 million shares traded following news of the test, which is not yet approved for sale. The company recently raised $3 million in a private placement but reported a first-quarter net loss of $9.14 million and warned of “substantial doubt” about its ability to continue.