TLDR
- Co-Diagnostics (CODX) stock rose 9.43% to $2.90 in premarket trading on Friday
- The company’s Indian joint venture, CoSara Diagnostics, signed an agreement to expand into Bangladesh, Pakistan, Nepal, and Sri Lanka
- The expansion pushes CoSara’s total addressable market in South Asia to an estimated $13 billion
- Products targeted for the region include the PCR Pro® point-of-care instrument and the SARAGENE® product line, pending regulatory approvals
- CoSara plans a virtual distributor session in Q2 2026 and an in-person event later that summer
Co-Diagnostics (CODX) stock climbed 9.43% to $2.90 in premarket trading on Friday after the company announced a major territorial expansion for its Indian joint venture.
CoSara Diagnostics Pvt. Ltd., the joint venture between Co-Dx and Ambalal Sarabhai Enterprises Limited (ASE Group), signed an agreement to extend its commercial and distribution reach across South Asia. The newly added markets are Bangladesh, Pakistan, Nepal, and Sri Lanka.
The move pushes CoSara’s estimated total addressable market in the region to $13 billion, based on internal analyses and third-party market data.
The expansion is designed to support the commercialization of two key products: the CoSara PCR Pro® point-of-care instrument and the SARAGENE® product line. Both are subject to regulatory approval in each new market.
CoSara is currently working to establish distribution channels across the four new countries. That includes evaluating regulatory pathways, identifying key customer segments, and engaging local distribution partners.
Leadership Comments on the Move
CoSara CEO Mohal Sarabhai said South Asia has a strong and growing need for accessible, non-invasive molecular diagnostic testing. He pointed to tests for tuberculosis, HPV, and upper respiratory infections as priority areas.
Co-Diagnostics CEO Dwight Egan framed the deal as part of a wider infrastructure-first strategy. The company is building out local manufacturing and distribution before products go on sale — a model it is applying in the U.S., South Asia, and the Middle East and North Africa.
Egan said the goal is to position Co-Dx for scalable global deployment of its PCR point-of-care platform.
To get distributors on board, CoSara plans to host a virtual information session in Q2 2026. An in-person distributor meeting and training event is planned for later in the summer.
Where the Stock Stands
CODX was trading near its 52-week low of $2.04 before Friday’s move. The 9.43% premarket jump brings it to $2.90.
It’s worth noting that the PCR Pro® and related platform products still require FDA review and are not yet available for sale.
In March, Co-Diagnostics also announced a Japanese patent covering its PCR platform technologies. Earlier, the company regained NASDAQ listing compliance after a period of concern over its eligibility.
The $13 billion TAM figure comes from internal estimates and third-party data. Actual revenue potential will depend on regulatory outcomes and the pace of distributor engagement across all four new countries.
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