Co-Diagnostics, Inc. (NASDAQ: CODX) shares rose on reporting advancement of Co-Primers technology in multiplex SNP genotyping.
The Salt Lake City-based molecular diagnostics company with a unique, proprietary platform for the development of diagnostic tests said the advancement allows for multiple targets to be identified in a single reaction without costly and time-consuming re-optimization of primers.
SNP detection refers to finding small-scale but clinically-significant mutations in a given gene using real-time polymerase chain reaction (PCR) testing. Medical applications of SNP detection include identifying the presence of cancer cells or cell-free genetic material in a liquid or tissue biopsy, and to determine the distinct type of cancer involved.
CEO Dwight Egan commented, "The unique structure and cooperative relationship between the Co-Primer molecules enhance PCR by making the reactions more specific, to better differentiate between similar target genetic sequences. The medical and diagnostics industries are more aware than ever of the importance of correctly and accurately identifying the existence and genetic variant of cancer in patients afflicted by this life-altering condition.
"The Company’s development will further augment our product offerings, where specificity is the key to unlocking successful multiplexed reactions. Industry experts have already recognized the advantages of Co-Primers in being able to “mix-and-match” primers for SNP mutations and we are confident that the potential applications of our advanced technology represents a key opportunity for the Company, and for PCR technology as a whole."
CODX shares opened Tuesday trading up $1.85, or 41.7%, to $6.29
