Co-Diagnostics Shares Transition to Over-the-Counter Trading

Co-Diagnostics Inc. (CODX) has completed its move from a major exchange to the over-the-counter marketplace, marking a significant shift for the molecular diagnostics company. This transition follows the firm's failure to maintain the minimum share price required for continued listing on the Nasdaq Capital Market.

In a bid to regain compliance with Nasdaq’s rules, Co-Diagnostics executed a 1-for-30 reverse stock split, effective January 2, 2026. The strategic move aimed to boost the share price above the critical $1.00 threshold. However, this measure proved unsuccessful. The company could not sustain a closing bid price at or above $1.00 for the mandatory ten consecutive business days by the deadline of January 5, 2026.

Consequently, Nasdaq formally notified Co-Diagnostics of its non-compliance on January 7, 2026. Trading of the company’s shares on the exchange was suspended at the start of trading on January 14, 2026. While Co-Diagnostics has stated its intention to request a hearing before a Nasdaq Hearings Panel, this appeal does not reverse the immediate suspension.

Operational and Financial Challenges

The delisting event coincides with a period of operational difficulty for the company. Its most recent quarterly report, for Q3 2025, revealed a sharp decline in revenue. Sales plummeted to $0.1 million, a substantial drop from the $0.6 million reported in the same quarter the previous year. The company’s loss per share of -$0.16 met analyst expectations, but the severe revenue contraction highlights ongoing commercial challenges.

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

The share price itself reflects a prolonged downward trend. Immediately prior to the trading suspension, the equity was quoted at approximately $4.64 on Nasdaq. This price point represents a nearly 74% decline in value over a one-year period.

New Trading Venue and Business Developments

Following its removal from Nasdaq, Co-Diagnostics stock is expected to be quoted on the OTC Markets, specifically on the Pink Limited Information tier. The shares will continue to trade under the familiar ticker symbol CODX. Such a transition often results in reduced liquidity and lower visibility among investors, potentially limiting access for larger institutional funds.

Despite these financial and regulatory setbacks, the company continues to advance certain strategic initiatives:
* Australian Patent: In June 2025, Co-Diagnostics was granted a patent in Australia for its Co-Dx PCR platform technologies. This intellectual property protection could support future commercialization efforts in that region.
* Joint Venture Activity: CoSara, the company's joint venture, has been active on the conference circuit, aiming to strengthen distributor relationships and expand the global footprint of its diagnostic tests.

The future trajectory of Co-Diagnostics now largely depends on its ability to navigate the altered landscape of the OTC market while successfully translating its technological assets into sustainable revenue streams.