Correcting all the false claims against Co Diagnostics.
ATLANTA, GEORGIA, UNITED STATES, December 10, 2020 /EINPresswire.com/ — As citizens of this great country, one of our constitutional rights is freedom of press. With that right, anyone can create news and release this information to the public. The problem is that some of this information is not accurate and creates false narratives. This is the case recently with NPR’s article about Co-Diagnostics (NASDAQ: CODX) (the Company), where they make hyperbolic claims while attempting to undermine the successes and innovation of the company.
The article brings up Co-Diagnostics’ Chief of Science Officer, Brent Satterfield’s claim about the accuracy of their tests, arguing that they are misleading and even false. However Dr. Satterfield’s claim of Co-Diagnostics tests being 100% accurate are sound, as he spoke based off the performance of the tests in independent lab evaluations — as highlighted in company attorney, Christopher P. Milazzo’s letter. Not only was his claim accurate, but when placed in actual practice, the tests performed with a 95% to 99% accuracy.
When compared against the CDC’s test, Co-Diagnostics’ tests are finding more low-level positives, resulting in far fewer false-positive results than the CDC’s. That is essential for millions of Americans whose lives have been halted, or endangered due to false-positive results, as in the case of patients about to undergo heart surgeries having to be wait-listed because of a positive Covid test.
The article also considers whether the SEC should, or could, seek financial penalties against Co-Diagnostics, asserting that they should based on the assumptions of the board members’ responsibilities and past allegations against Richard S. Serbin.
The problem with this suggestion is that it attempts to penalize Co-Diagnostics for issues not relating to missing the filing deadline, which is the original issue. If there is any issue relating to the character of the board, that issue must be dealt with within the company, same as it would be with any other company.
The same idea applies to Serbin’s case. An issue with an individual, especially one that is from the past, and is unrelated to this individual’s current position, is one that must be dealt with between the individual and the offended party. Serbin’s past allegations does not reflect negatively on Co-Diagnostics, as there is no evidence of current misconduct outside of the missed filing date – which could have been inadvertent—and because that issue, as the article suggests, was handled and closed.
As it stands, Co-Diagnostics is a capable, innovative company that is supplying fast and accurate, screening and diagnostic tests at half the cost to over 50 counties, as well as 15 states here in the U.S. They have proven themselves to be a growth company, raising their revenue 52559.65% to $21,819,000 and their earnings per share 630.00% to $0.53 in Quarter 3. For future quarters, analyst have raised their target price from $36 to $43. All this while staying cash flow positive, implying that investors will see a rise in gains and profit in the long run.
About Landon Capital
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This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Landon Capital received no direct compensation related to this release, although Landon Capital does hold a position in the company covered above. This release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Actual results may differ materially from those stated or implied in such forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. We assume no obligation to update the information included in this press release, whether because of new information, future events or otherwise.
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