If that group breaks down according to U.S. ![]() That dwarfs its $5 million in sales over the past 12 months.Īs of November, the company's deals with insurers give it access to 173 million covered lives in the U.S. Management believes the total addressable market for these tests could be $1.3 billion to $5.2 billion. Aspira is developing tests to detect diseases at an early stage across a woman's entire lifecycle, beginning with endometriosis in young adults. Instead, investors are excited about the potential for additional products. The run-up in the stock isn't about a return to normal, though. But by the end of September, test volume had returned to 95% of pre-COVID levels. Unlike many other diagnostic companies, Aspira was hindered over the spring and summer by the reduced elective procedures and delayed annual checkups associated with COVID. The stock price rose 728% last year, even though revenue for the first nine months of 2020 climbed a mere 2% from 2019.Īspira's OVA1 test is used, along with imaging results, to detect early stage ovarian cancer. Though it changed its name from Vermillion to Aspira Women's Health in June to better reflect a focus on gynecological health, investors had no trouble finding this company when placing buy orders in 2020. If that long-term outlook proves true, as the world learns to better detect and prevent against the disease, Co-Diagnostics shareholders are in for more gains in the years ahead. CEO Dwight Egan reiterated the sales momentum in the third-quarter earnings call and suggested the world come to grips with the fact that we will be dealing with COVID until the end of time. The test can detect the flu and the SARS-CoV-2 virus in human saliva without the time-consuming extraction of genetic material. ![]() The company has begun distributing its combined "ABC" test for influenza A, influenza B, and COVID-19 for research use while navigating the regulatory approval process. ![]() The company's technology enhances the output of PCR tests (the kind that look for genetic material in a sample), virtually eliminating the most common source of false negatives.Įven after all this growth, Co-Diagnostics isn't standing still. That's 444 times the $106,000 of sales it recognized during the same period of 2019. The company's COVID test was authorized by regulators on April 3 and proceeded to fuel revenue to $47.4 million in the first nine months of 2020. Co-DiagnosticsĬo-Diagnostics led the group with a gain of 939% in 2020.
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