![]() ![]() The baseline scenario forecast shown in blue is optimistic and if it plays out as suggested it will be beneficial for CODX.Īs long as government policy remains accommodating towards testing for cross border travel, the demand for COVID-19 tests will continue to underpin the revenue growth at CODX. The forecasts, shown below, present two scenarios based on the effectiveness of the vaccination programs globally. The International Air Transport Association (IATA) forecasts that there will be 7.3 billion passengers by 2039 from 3.9 billion in 2019 despite the fall in 2020. An increase in the number of passengers flying will accelerate the demand for COVID-19 tests. People have put off travelling for a very long time and will be looking forward to travelling again to see family, discover new countries or for business. CODX will benefit from these dynamics and is worth buying as a hedge against the risk that the re-opening of the economy does not work out because of a new COVID-19 wave.Īs we enter a state of normalization from the pandemic, the travel industry is expected to boom. ![]() Hence, it is important for governments around the world to continue monitoring and controlling the pandemic via mass testing. Additionally, COVID-19 testing will continue to be essential as there is always the risk that Variants of High Consequence (VOHC) affect the effectiveness of vaccination programs globally. The data from the CDC paints a stark picture and shows that mass testing will play an important role alongside vaccinations in the re-opening of the economy. Vaccinations alone won't be able to fight the pandemic effectively as not everyone can or wants to take a vaccine due to their medical condition, age group or ideology. and we can observe up to 29-33% of vaccine hesitancy in some areas. The image below shows the estimated hesitancy rate in the U.S. Despite vaccination programs making rapid progress around the world, new coronavirus variants and vaccine hesitancy remains a threat to herd immunity and will continue to be an issue for the longer term.ĭata from the CDC shows a high level of vaccine hesitancy in numerous states in the U.S. I wish COVID-19 would just go away but unfortunately it is expected to stay in our lives. COVID-19 testing was required independent of your vaccination status. ![]() Last week, I traveled to Portugal from the UK and was required to take three RT-PCR tests adding up to an eye-watering cost of $360. Drivers for COVID-19 testingĪs life restarts, I do not believe we will discover a world like before. However, a high valuation and uncertainty around government policy towards COVID-19 testing remains a material risk to the stock price. A fortress balance sheet and a solid cash position makes CODX adequately placed to invest in new products and create shareholder value. Vaccine hesitancy, the risk of new coronavirus variants and the resumption of the travel industry will support the demand for COVID-19 testing at Co-Diagnostics, Inc. The COVID-19 pandemic is expected to stay with us for a long time. Its diagnostics systems enable molecular testing for organisms and genetic diseases by automating historically complex procedures in both the development and administration of tests.Photo by Morsa Images/DigitalVision via Getty Images The Company is also developing a portable polymerase chain reaction (PCR) device and test cups that are designed to bring PCR to patients in point-of-care and even at-home settings. It also sells diagnostic equipment from other manufacturers as self-contained lab systems. design specific tests for its Co-Dx PCR Home platform and to locate genetic markers for use in applications other than infectious disease. The Company is engaged in developing, manufacturing and selling reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules, including molecular tools for the detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications.
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