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News  ›  Benzinga

Co-Diagnostics Announces Reverse Stock Split

Benzinga Logo Benzinga By Prnewswire
Co-Diagnostics Announces Reverse Stock Split

Co-Diagnostics Inc. (NASDAQ: CODX) announced a 1-for-30 reverse stock split effective January 2, 2026, to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The split was approved by stockholders on December 5, 2025, and the stock will continue trading under the symbol 'CODX' on a split-adjusted basis.

Insights
CODX   negative

The reverse stock split is a defensive measure to regain Nasdaq listing compliance due to the stock price falling below the $1.00 minimum bid price requirement. This indicates financial distress and stock underperformance. Additionally, the current stock price of $0.2250 reflects significant depreciation, and there is no guarantee the company will maintain compliance post-split.