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Co-Diagnostics Regains Compliance With Nasdaq Listing Requirement

NEW YORK (GenomeWeb) — Co-Diagnostics announced today that it has regained compliance with Nasdaq's minimum stockholders' equity requirement, allowing its shares to continue to trade on the exchange.

In late January, the Salt Lake City-based company — which went public in mid-2017 — closed a $3 million preferred stock sale and signed definitive agreements to sell $5.5 million in common stock to institutional investors. In a filing with US Securities and Exchange Commission earlier this month, Co-Diagnostics said that the two transactions would enable it to regain compliance with the Nasdaq's minimum stockholders' equity requirement.

During midday trading, shares of Co-Diagnostics were up about 6 percent at $1.24.