Co-Diagnostics Reports Third Quarter 2025 Financial Results

Core Insights - Co-Diagnostics, Inc. reported its financial results for Q3 2025, highlighting a strategic shift with the establishment of CoMira Diagnostics in Saudi Arabia and plans for a potential SPAC transaction with its Indian joint venture, CoSara [4][6]. Business Highlights - The new joint venture, CoMira Diagnostics, aims to enhance the company's presence in Saudi Arabia and 18 additional MENA markets, supporting the localization of advanced molecular diagnostics [4]. - The company has launched a dedicated AI business unit to integrate its AI applications under the Co-Dx Primer Ai platform [4]. - Co-Diagnostics is preparing to initiate clinical evaluations for its upper-respiratory multiplex test, supported by a grant from the NIH's RADx Tech® program [4]. Financial Results - Revenue for Q3 2025 was $0.1 million, a decrease from $0.6 million in Q3 2024, primarily due to reduced grant revenue [6]. - Operating expenses were approximately $7.1 million, down 32.6% year-over-year [6]. - The operating loss was $7.0 million, compared to $10.2 million in Q3 2024, while the net loss was $5.9 million, or $0.16 per fully diluted share, compared to a net loss of $9.7 million, or $0.32 per fully diluted share in the prior year [6][16]. Cash Position - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $11.4 million [6].