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NEW YORK (GenomeWeb) — Co-Diagnostics today reported a 10 percent decline in its net loss for 2018 as the company began to generate revenues from the sale of its molecular diagnostics.

For the 12-month period ended Dec. 31, Co-Diagnostics posted a net loss of $6.3 million, or $.50 per share, versus $7.0 million, or $.63 a share, in 2017. The Salt Lake City, Utah-based firm attributed the decline to a one-time $2.1 million expense incurred in 2017 tied to the extinguishment of debt after its initial public offering.

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