Co-Diagnostics Faces Nasdaq Delisting After Failing to Meet Minimum Bid Price

Diagnostics firm Co-Diagnostics is confronting a significant setback in its public market journey. The company’s common stock is set to be removed from the Nasdaq Capital Market and transition to trading on the over-the-counter (OTC) market, raising substantial questions about its future as a listed entity.

The official notification of the impending delisting was received by the company on January 13, 2026. This decisive action by Nasdaq stems from Co-Diagnostics' inability to maintain a minimum bid price of $1.00 per share. The exchange had previously granted the company two consecutive 180-day compliance periods, which concluded on July 9, 2025, and January 5, 2026, respectively.

In an effort to rectify the situation, Co-Diagnostics executed a 1-for-30 reverse stock split, which became effective on January 2, 2026. Shareholders had approved this measure during a special meeting held on December 5, 2025. The primary goal was to elevate the per-share price to meet Nasdaq’s continued listing standards. However, this corporate action ultimately proved insufficient to prevent the transfer to the OTC marketplace.

Business Developments Amid Market Challenges

Despite this stock market adversity, Co-Diagnostics continues to report progress in its core operational initiatives. On December 29, 2025, the company secured its first Australian patent for its point-of-care PCR testing platform. The patent coverage includes the Co-Dx PCR Pro instrument and its associated test cups.

Should investors sell immediately? Or is it worth buying Co-Diagnostics?

Company leadership had indicated in August 2025 that it was making headway with critical clinical evaluations for the PCR platform. The plan was to initiate all four primary studies before the end of 2025. Pending successful regulatory approvals, the target for commercialization remains mid-2026. Strategic manufacturing and distribution plans are intended to facilitate expansion into both U.S. and international markets.

Financial Snapshot and Upcoming Report

The company’s most recent quarterly results, released for Q3 2025, revealed a net loss of $5.9 million on revenue of just $0.1 million. The loss per fully diluted share stood at $0.16. Investors can expect the next quarterly financial update to be published on March 26, 2026.

The move to the OTC market represents a pivotal moment for Co-Diagnostics, shifting its trading venue as it simultaneously works to advance its diagnostic technology toward commercial launch.