Co-Diagnostics, Inc. (NASDAQ: CODX) rose Friday, after reporting its participation in a research project with the Stanford University.
The Salt Lake City-based firm -- a diagnostics company with a unique, proprietary platform for the development of molecular diagnostics, announced today that the Company’s CoPrimer™ technology is being employed to achieve the objectives of a research project conducted by the Wang Group at Stanford
A news release out Friday says the study is aimed at developing more efficient methods to detect multiple genetic mutations in the EGFR (epidermal growth factor receptor) gene, including the most frequently occurring mutations in lung cancer, within a single reaction.
The investigators have been conducting research into the subject using commercially available primers for several years, the results of which have previously been published, and contacted Co-Diagnostics to utilize the Company’s technology to further improve comprehensive detection methods of mutations that are known to cause cancer. It is anticipated that the results of the current study will be compiled and published later in 2018.
Co-Diagnostics CEO Dwight Egan remarked, "We were honored that the Wang Group at Stanford University approached Co-Diagnostics and expressed interest in applying our CoPrimer technology to their endeavors to improve detection of cancer.
"The ability to multiplex within a single reaction, along with the heightened specificity and allowing for a massive reduction in false positives, are some of the most valuable benefits of this technology, making it ideal for cancer detection and liquid biopsy applications."
Shares picked up 82 cents, or 28.2%, to $3.72, in early Friday trading
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