Co-Diagnostics, Guardant Health, and Others Included in Health Care Stocks Snapshot
NEW YORK, NY / ACCESSWIRE / November 14, 2018 / The newly-patented CoPrimer™ technology, developed and made available by Co-Diagnostics, Inc. (NASDAQ: CODX), has recently been the subject of review and comparison by the wall Street Club. With the Health Care Equipment and Supplies industry having seen over 15% growth so far in 2018, significantly outpacing the 5.57% growth of the S&P 500 Index, a number of companies were covered - all within the diagnostics sector. Highlights of the report include:
Guardant Health, Inc (GH) recently enjoyed an IPO and initial month trading that can best be described as wildly successful. After opening 46% above their IPO price of $19, they have continued to climb, reaching a high a few days later of $43.80, and all during a month that for many stocks saw a correction that wiped out all of 2018′s YTD gains. Incorporated in 2011, GH is a precision oncology company that provides non-invasive cancer diagnostics, including liquid biopsy tests for advanced stage cancer. The market for liquid biopsy, the process of using a blood draw to identify the presence of defined biomarkers that indicate the presence of cancerous cells as opposed to an invasive biopsy of a suspected tumor, is itself projected to be worth over $3.8 bn in 2023, and nearly $6 bn in 2030. Guardant’s molecular biology tests include Guardant360, a molecular diagnostic test that measures various cancer-related genes from circulating tumor DNA (ctDNA); and GuardantOMNI, a broader panel measuring various genes from ctDNA. The company also provides LUNAR-1 for recurrence detection in cancer survivors; and LUNAR-2 for early detection of cancer in higher risk individuals. Guardant is headquartered in Redwood City, California.
Co-Diagnostics, Inc. (NASDAQ: CODX), is a lesser-known entry in the liquid biopsy arena, but they are also telling the world that they are ready to compete. CODX is a molecular diagnostics company that develops, manufactures and markets a new, state-of-the-art patented diagnostics technology, which they call CoPrimers™ and which they believe have the potential to upset the polymerase chain reaction (PCR) industry as it begins to find traction. The Company’s technology is utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). They recently completed a license agreement for the AgBio industry described as ″the first of many″ for this technology with LGC, Biosearch Technologies, a leader in the extended life sciences sector, owned by funds affiliated with KKR. CODX also uses its proprietary technology to design and license specific tests for genetic markers and SNP/SNV detection in industries other than infectious disease and AgBio, which includes liquid biopsy.
Diagnostics isn’t the only growth area in this sector. Recent coverage of IRadimed Corporation (IRMD) with their outstanding EPS growth over the last quarter it’s easy to see why. They develop, manufacture, market, and distribute MRI compatible medical devices, and related accessories and services in the United States and internationally, serving hospitals, acute care facilities, and outpatient imaging centers. The company offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets and a MRI compatible patient vital signs monitoring system under the IRadimed name. The company also offers IV poles, wireless remote displays/controls, side car pump modules, dose error reduction systems, and SpO2 monitoring with sensors and accessories. IRadimed is headquartered in Winter Springs, Florida.
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SOURCE: Co-Diagnostics, Inc.