TLDR
- CODX stock rockets 205% after Saudi JV deal to expand in the MENA region.
- Co-Diagnostics partners with Arabian Eagle to launch CoMira Diagnostics JV.
- New MENA expansion deal pushes CODX shares to surge over 200% in one day.
- Co-Diagnostics unlocks the MENA market with Saudi JV, sending CODX stock flying.
- CoMira JV sparks 205% CODX spike as Co-Dx expands point-of-care diagnostics.
Co-Diagnostics(CODX) stock surged by nearly 205% intraday, reaching $1.07 from its previous close of $0.36.
Co-Diagnostics, Inc., CODX
The spike followed news of a major joint venture in the Middle East and North Africa region. The CODX price action showed a sharp rise followed by consolidation, signaling strong momentum and high trading volume.
Co-Diagnostics Launches CoMira Joint Venture in Saudi Arabia
Co-Diagnostics, Inc. announced a definitive joint venture agreement with Arabian Eagle Manufacturing based in Saudi Arabia. The new entity, CoMira Diagnostics, will handle the manufacturing and distribution of CODX’s molecular diagnostics products across 19 MENA countries. The venture covers the Kingdom of Saudi Arabia and extends to nations including UAE, Egypt, Morocco, and Iraq.
The partners will focus on localizing CODX technology and expanding access to high-quality diagnostic tools in the region. Arabian Eagle will lead facility setup, ensure SFDA regulatory compliance, and manage regional logistics. Co-Diagnostics will license its intellectual property and provide its upcoming PCR platform and lab-based test suite to the JV.
This expansion aligns with Saudi Vision 2030, which emphasizes healthcare innovation, industrial diversification, and technology transfer. The joint venture seeks regulatory approval in Saudi Arabia to streamline product launches across neighboring countries. CoMira’s activities will support public health, economic development, and regional diagnostic infrastructure.
Co-Diagnostics Targets Market Growth With Localized PCR Platform
The new point-of-care Co-Dx PCR platform forms a core element of the CoMira strategy. The technology aims to improve diagnostic turnaround times and expand testing access across the region. Tests in development include panels for tuberculosis, HPV, and upper respiratory infections such as flu, COVID-19, and RSV.
Co-Diagnostics will retain full control of its proprietary technology and grant CoMira exclusive rights to use and commercialize the platform in the region. Arabian Eagle’s leadership, with experience in distributing CODX’s Logix Smart tests, will manage compliance and regulatory navigation. This structure mirrors the company’s India-based joint venture, CoSara Diagnostics Pvt Ltd.
The partners plan to initiate clinical evaluations by late 2025 in preparation for broad regional deployment. The localized model will reduce reliance on international supply chains and address healthcare accessibility gaps. This strategy positions Co-Diagnostics to scale faster across key emerging markets in MENA.
CODX Stock Reaction Reflects Strong Market Response to Expansion Strategy
CODX stock displayed a textbook gap-and-hold pattern after the news, confirming significant interest and increased volatility. The early price breakout followed by steady consolidation near highs indicated sustained buying pressure. While the stock surged sharply, volume and liquidity remained elevated throughout the session.
This move highlights market recognition of Co-Diagnostics’ strategic push into international markets with long-term growth potential. The company is positioning its molecular diagnostics innovations to meet rising healthcare demand in high-population regions. The MENA-focused joint venture signals the company’s confidence in replicating past success seen in India.
Co-Diagnostics’ move to embed its platform within MENA healthcare systems may open future licensing and revenue streams. The consistent expansion of its diagnostic portfolio underlines a proactive approach to both product development and global distribution. With CoMira now active, CODX aims to strengthen its global presence and build long-term value.
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