Recent CODX transcripts
Associated CODX filings
Andrew Benson | Head of IR |
Dwight Egan | CEO |
Brian Brown | CFO |
Yi Chen | H.C. Wainwright |
Theodore O'Neill | Litchfield Hills Research |
Good day, and welcome to the Co-Diagnostics First Quarter 2021 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Andrew Benson, Head of Investor Relations. ahead. go Please
Andrew members I'm Egan, joining this Financial me Executive Thank the Benson, Co-Diagnostics are Officer. Chief Brown, of and Dwight management afternoon Officer; you. Brian and team, Chief including
with call call the to to begin questions will management's remarks open to and analysts. prepared our up then We
objectives, Before expectations, the statements. of this that call assumptions constitute would forward-looking certain beliefs, the statements performance inform we statements. we during of to made statement course company about Any plans, begin, like or forward-looking events listeners by Co-Diagnostics future may are
the statements regulatory new example, concerning based of are For XXXX and company financial statements. plans commercialization of management are operational on guidance, believes features reasonable forward-looking market statements trends all development, assumptions. and and objectives clearance, products, The these
in are results guarantees and factors, statements. these forward-looking Co-Diagnostics implied the to actual Co-Diagnostics unanticipated SEC. events statements the Important and and involve any statements to occurring differ and that those different these materially no expressed cause which future be materially could circumstances performance not from may this known call update uncertainties reflect of detailed after to any or the results cause are or occurrence obligation to with disclaims assumes filings expressly reflect in forward-looking or actual events. risks results any unknown statements such However, by duty from to of
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be of about also pandemic has tests continued the with continuing since the to both be We consistent sales domestic began. and markets. momentum so international our progress are strong company to QX. is the prior made quarters in continued overall in Cells excited far And
Smart tests continue of our expected to we well continued to COVID-XX for positioned demand company. As remain demand products our sales. anticipate portfolio global to for a we be leading And Logix diagnostic drive as molecular
predicted customers U.S. in general comprising that durable people Keep large moves variants Brazil as experiencing and X.X% much call, during quarter of COVID customers was in Cambodia, sales a death began revenue consistent States the the its prior America basis and we means some to to. crossed equals South the day are countries. in situation. infections not mind than overall in of compromise international as seeing highest recall India's a QX, the on each country in people last momentum new to Cases fully United in in die the less strains in our that may first worldwide even in is a that being sales some but evolving vaccinated, one-third through are result XXX since in Task towards Force, markets we and of the out the to and the on just to several eight said CLIA vaccination Times X% right yesterday that has relieved more as This as of The vaccination X% and progressed. than as the U.S., in X% the meanwhile the earth's and pandemic York been New population. way Lab network Osterholm, India a is of remained ability many factors distributors the the deaths our domestic foreign over international As forecast from Michael horrific. material XX essentially vaccinated. is at trend rising cases including vaccination of more COVID-XX rates business maintain countries The we but stated vaccinating population are with U.S. have who no has Dr. world our this to have the sales toll company's going why international to The struggling in is stable. trending Malaysia, average. a to always rise, now. has Worldwide world access broad-based U.S. the President's surges earlier, been revenue the of we of be our only vaccines. of billion the And model, number about quarters. of the we're member That mutations, mix plus worldwide sentiment According toward more Africa, Thailand, in have South QX mix markets agreed to XXXX equivalent is The we as seeing but expected and along level whole is
and ever mentioned, as more mass efforts beginning to which deemed vaccinations to infection has we political are the summer, on country. attention as country. Suffice worldwide, that in directed we with the infections in were before. words, other time still United U.S. listeners to than last well. media great focus deal currently is COVID world every it All COVID-XX of other great of infection of the and incidence But is of was the the COVID-XX status States, to the United the recall, extent than States prevalence the in of the worldwide the world vaccination a service notwithstanding of remains level a COVID-XX of may prevalent at experiencing these media we cases previously have that any masking say region more around some political be new serious had United through during of the In as and the the situation in very pandemic. vaccination, Moreover, progress what reminders the to vulnerable to par experiencing curtail is the been true In States the on ways. in
sales for strong, and me and and domestic reiterate, serve. a business to we more we to significant to leverage our fully in providing years durable intellectual be number over conditions increase which several model come. diverse And is international reaching develop These property, the distribution to the the the and let So remain Co-Diagnostics flow of model. be unique are cash to markets the are proving clear, in next quarters, about to ways of capabilities our far powerful and and
to and said liability customers. more COVID provide to promote of prudent want attempted safe a vaccination will protocols negligence the believe may countries for while half Obviously Turning COVID is to entertainment COVID cruise as primary want prevalent. are that organizations safe employees, with theme airlines, reason. is regular work ignored their rather to a die recent minimized. server or customers if work. parks survey, testing than will venues as customers more develop staff would participants employees and many In and where possibly workplace, is for concerned at testing in transmission get society, and to patrons the Businesses also citing with return the employees desire normalization inform their potential regular conditions than ensuring for sick the that legal a and protocols obtained for a and employees are families claims safety so contact their about also tested ships, that COVID we Restaurants avoid environment diner from of normalization two-thirds example, of and they resulting to on close is the quit basis, from exposure
to concern. been the world last first since XX our COVID-XX engineered the months test primary around has test part supply doing Over our we a kits
We of have of testing, wide at several development around the use as the world. and point ways are important mass new care scale well for as ongoing innovations to contributed home in in applications that
For example, the partners of in of with our privately largest laboratories such in capable some testing Laboratory, Reference conjunction as one clinical the U.S. held Clinical
a year, platform. available CRL the and it their and convenience sensitivity XX CRL is accurate online CRL pioneered any mobile app delivered can authorized homes that Walgreens New expanding a response Walgreens tests, and developed test and CoPrimer by of PCR the Co-Diagnostics is tests and saliva-based administered to enabling uses collection. of secure and and right response hours self announced a with typically rapid be are on degrees highly based In PCR including consumers. walgreens.com high in November, test with the that accessibility consumers And health results Care, that home own collecting February this non-invasive and at saliva or digital CRL the The for available saliva that the directly through the of offering supervision. test probes virtually Co-Diagnostics, RT-PCR applications platform science CRL its PCR device in test primers CRL saliva specificity, technology by that of and selling collection company CoPrimer announced device in COVID-XX Walgreens rapid is now COVID-XX in setting the on Fin announcement without via FDA and technology simple computer states
also and pernicious our infection variations While The several world, observe which now daily our the course reflects of some expected are abated COVID and of and instrumentation. around of we counts resulted such strong in assays several and able level influx in as trending not death demand with international of the other which is orders daily different causes, our to the believe clients the India has of rails includes different for infection of or collection towards sample emphasis we monitor modes the more and mutations the geographic tests, we shift countries and off of lack Brazil. and vaccination that combined variants, death has
tests run order world's an the the of to certain continues unchecked for to cannot go is predicament, long a long if indication globe, But the we COVID say. have is our we flow of world somewhat how in safe. the way virus Just potentially before areas
infancy, the to infected attention safe States. cold testing a COVID-XX differentiation In being with likely is COVID and sports in symptoms its travel ongoing COVID normalization world, addition, safe placed United restaurants create the is sure in to Since in this including regular significant and and be environments, much be order on potentially still in is developed mirror stages, work of amount the venues. beginning and flu schools, need safe will needed people tests. Safe and To
orders test, ABC comprising for fourth testing QX far example, so Our of XX% from has to and in X% in X% QX. traverse quarter
scientists technologies, We tests significant from now of number well technological in flagship levels chemistry and will vaccination X% Eikon tests of as its long is includes and as smartphone PCR sample a simple extraction. COVID-XX and and is that the cross molecules receptacle, inserted placed also with who XX who is the device than with will Co-Diagnostics which deliver United or renowned India patient From in reactivity States reagent which CoPrimers patented is effort safety development. app respect the critical results includes direct eliminate company's saliva way assays and activated disposable enables involved of require approximately high comparatively as with lyophilized continue Eikon to at multiplex COVID saliva combination less as The pre-protocol. our The level of the a freeze-dried virtually smartphone a testing starts designed about PCR progress to to is accuracy. international a the then supply current only samples extraction which not is platform of with vaccinations. experts saliva discussion important behind PCR prominent from That's herculean by are see including of world continue the minutes. The The all PCR-based U.S. the the a who direct in a in we breakthrough only normalization U.S. around is command platform, XX result into will part we A world platform, the being a attempted, the advancements. compact in and regard a how supply The with do renowned environment. minutes. the inventions for unique device is developed previous widespread we several other government. CoPrimer to Eikon use Africa by [indiscernible] far accurate a test and the are concluding represents I time most are which trailblazing real test. currently into X%. a X% the inventions to the on Roche of the app turn displays to to customers, the company, entities
paths several to trends facilitate create parties. global for platform. cloud-based data motivated to There Additional applications appropriate Co-Diagnostics are multiple the data that new distribution
the beyond of during the cover First it and need Eikon that important far COVID. extraction And We develops But providing for and results in RNA any free remote inexpensive, are foremost at of DNA testing home, care meet the believe designed to is accurate. a pathogen Eikon locations. point for care is imperative company go critical that or just molecular which will point for long-term that providing and locations fast as at Indeed, platform results addressed home be is test. aspirations pandemic. the to and Co-Diagnostics need
antigen reporting significant into we ever account, unstoppable But history, of cruise the vast ever college open care to believe testing same no proposition considerations. the locations, number process years, campuses, and result labs others. conventions need of one small test to technologies represents complete numerous healthcare in the We Besides be the this to of include schools whole. to opposed other through almost all offices, include doctors unique sales accuracy Eikon steps technologies. be will creation product believe to the the team. steps. regulatory the addressed this this The and additional because being telemedicine human CoPrimers overall as results healthcare. that need brilliant platform the Because powerful the restaurants updates in at and to is made the and this These steps extraction, to cost of ships, But sets, has rapidly Co-Diagnostics we molecular home The menu expectations next of all Eikon the early the company and necessary a short-term, and in will replace were away to application while initial amplification, conduct system potential and platform mode one results And it the pervasive. company several cheap, gold diagnostic healthcare then widespread attract and accurate for development we it device diagnosis the on previously want with reliable, on the test. container detection, the than Taking less the another progress hoping low has through provides integrated and of high the this anticipate ways the as innovations designed at will complexity test development worldwide app, validation on as diagnostic the be meet we the user vast forward The trend of move mean using activating of introducing airlines, successful sample pursuing of leapfrog platform focus are before. studies device of very among costs regulatory amount often dentist As a smartphone will been in key getting a timeline not app. that it to of delivering believe fill the platform. for FDA centralized to diagnostic walk the entries the for test as by updates By combination place, new less over into for of plant be compact other parks, campaigns a through right has diagnostic systems the most fully in time competitive patients of we the all this well potential what and Co-Diagnostics expects the relatively placing a to technology been be resolve the and This rapid platform. as to including use to to process strategy and Co-Diagnostics very been that an right. molecular company and rather clients, a by We to its testing the to contrast, the the testing, be and provide the the standard create the can engineering able to the smartphone including company a product and a towards device to locations, a sample could a be Over clearance the that an testing low pointed is From with decentralized with as development right truly first a to embarked personnel which cheap, getting In positioning most long-term in will sports the faster long-term more molecular and in have our primary it to company to not able cost be a results. market vigorously call, well has level of three the staggering. short emergency for results innovation, into the project venues, point years is fast Traditionally, together which of way envision. up human the will and of currently for theme next testing spitting evaluation just earnings moves home groups factor first of future and interaction. on device, equipment required product it sophisticated, engineered value for also to ramifications test expertise can criteria significant interpretation portend antigen right the accurate antigen rapid get seeking as thing to a we complicated the of it trained the that and that offering come. in development markets is be revolutionize involves process has skill Eikon for it drive PCR believes and for expensive benefits many nimble thing care while testing all to aware container,
Let for to CFO a Brown, key me now outside Brian? after numbers been turn of which over here. our things the metrics Brian financial plans of discussion review a of conclude I already will what has and future discussed with
Thanks, Dwight.
from $X.X to For the year of product year achieved research continued from first revenue expenses from sales for prior people processes and of XXXX operations quarter improved quarter Total compared in the versus due the the from to quarter, taxes million profit. continued the and representing first prior our in primarily operating of increased due activities, We million general increased resulting million prior period. COVID-XX amortization first due investment in XXXX quarter. revenue, inclusive dollars quarter an year of development. administrative to $XX.X as million million quarter gross the XX.X% for and $XX.X $X.X consolidated million to of operating in to and revenue Logix to million to comparative from the and first loss $X.X $XX.X loss quarter and of development million corporate, to first Smart Gross marketing, of depreciation of to increase XXXX $X.X $X.X in a the revenue before prior compared of overall primarily research year the strong quarter profit sales income quarter, million mix, Income the quarter and business and million test. in from the improve increased $X.X by driven first in $X.X the and in XXXX
income March for rate $X.X XXXX. fully to of corporate $X.X it of achieved operating those quarter, million Smart the offset sales the $X.XX XX, diluted share, As our representing $X.X the to loss of result million resulting margins which compared recorded test We of primarily expense for tax expenses the of months taxes. of a relates a net by COVID-XX XX.X%. income first effective sales tax income ended from increased per was taxes, year We in and and quarter income first net prior Logix million, corporate three or
strong, opportunities. now our liquidity, growth Turning invest to allowing balance and to in sheet our remains sheet balance additional us
As December marketable equivalents of cash, increase million $XX.X $XX.X an XX and million, XXXX. of XXXX, March securities XX, from cash totaled
includes development. continue remain flexibility and financial capitalized debt and to our Plan, no as our us We people, execute strong has processes, a position Growth which Strategic well that research with cash we in afforded and investment
use increased XXXX, anticipate generating million we in which over $XX.X operations This While to of flow million of with the of continue continued million. expect the and balance our ended represents the cash improvement debt. second people, hard to in of grow quarter year prior from We our our we in of operating work improvement testament expenses to operations, processes. of cash significant no a $XX.X increase quarter quarter's an is cash from $X.X the cash
rate totaling $XX.X quarter expected million for revenue our We guidance anticipate due approximately for between to the new products. second tax million R&D based a spending and anticipate turning $X.XX our corporate our XXXX, we on between XX.X%. quarter and to diluted million Now and of platform. per XX strong effective for demand income $XX.X earnings $X.XX of on share the outstanding diagnostics shares Including continued
previously, remain to will growth. our we and ongoing continue our in noted invest confident As profitability in
increase are expanding continue as international We our footprint sales to abroad.
to strong forward. a upon position continue company the are business and are foundation, our We progressing building in solid
technologies focused markets will strategy. to allow innovate which more growth long-term staying scale necessary while order and our to We leverage our to other enter quickly and us develop in on continue testing,
Let me now Dwight. things turn back over to
Thank you, Brian.
in Co-Diagnostics other sales space. participants we as apart COVID-XX continues that this for footprint and the international fact grow sets increase, to testing Our many believe
the limited of distributors model This to generated XX countries. testing not mass diverse covering by a with Labs and over are means we to limited multiple distribution few is numbers CLIA traffic Our sites.
currently is proposition as antigen to of Our experiencing is as less customer levels technologies diminishes. more tests the PCR of vaccination. levels test, Also is low contrast high worldwide, along mentioned important even infection sensitive of value our base in with overall which
in playing the We growth platform allowing faster. Co-Diagnostics biopsy diagnostics Key of products of We will are is CoPrimer up menu, we vertical, growing cancer the portfolio those a markets as significant more scale that $X confident cancer billion and more $X leverage part within treatment molecular expected from whole market products we future to believe role products And over little to testing monitoring even XXXX and over our is XXXX. billion a technology are anticipate of strategy. liquid biopsy cancer as as in us provide in to liquid which global to and detection. grow to we our continue that among these anticipated our for
for to As billion grow these which growing to once development. customer more value provide parasite B for but malaria global companies might development apparent. and combined continued monitoring. be for process more. the in these to products also network cancer being this and our expected markets increasing anticipate planned along to the XXXX. standard expanded for sales, and build for human of be development see with saliva papillomavirus not the physicians in hospitals, these and market estimated $X.X ready-made size becomes only Among Nearly test, is and platform, and to asset CoPrimer COVID-XX RSV, with and $X on nearly test differentiate ABC customers that have this and products suite those XXXX include to interest seeing the include been chlamydia market. billion respective diagnostics, hepatitis our international including which that able uses diagnostics, results regard for other we liquid and XXXX. in global adopt existing the and detection CoPrimer C, several every considerable presence species direct and and in diagnostics hepatitis Other for The for have and to This with of our distributors for and The over that is brought the we STI a technology for soon. labs updates as single development during developed expressed international customers biopsy liquid vertical the pleased similarly panel true products customers biopsy HIV is billion $X tests resistant of currently growing With market diagnostics in domestic global our sizes technology between by expected tests to and or the of for certain our treatments, gonorrhoea novel of distributor, company
and marketing There unaddressed to verticals some also few companies these are from diagnostics test our growth year, to-date. vector Aside largest largely this this developing control showing products, received with customer of our orders base. relatively tests of
and tests the is our from for EUA the offer are since Our or domestic. used other products Vector revenue entirely human authorization to And throughout diagnosis, Smart FDA. segment we are these the premarket without from able clearance XXX(k) not country
agricultural the develop companies to XXXX reflect latter of our by is first to regards to vertical, partnerships the of continue customer failed and LGC, like part strong in seriousness COVID-XX. danger and we the XXXX country's relationships the we India, with With quarter in testing Bayer. supported of Additionally, approach which believe Biosearch, to that and
well PCR the has high CoSara kind brought and been with result, focus positioned two throughput quarters. testing the plaguing The of is cases of both importance on last exactly it has country surge a support monetary the the that reliable, experienced loss CoSara current death renewed As of affordable a provide. that in to a of accurate
component with and high factors of has before These along to and quality in facility venture to joint disease poised planet, art result sold. where we that the making are experiencing the our a the world. especially critical a of to far possible, the even Keep of the number important the focus be the impact as state having its our a so manufacturing are made that contributed as of this that been market. pandemic by country India established many India market have the the Diagnostics since we company's long-term in which a joint the can on pricing began, help dramatic partners has the people to Even burden is of at CoSara become Co-Diagnostics, prices positive uptick the in venture. healthcare infectious venture strategy, an region region joint area for mind products in before never supported has been able more includes largest ensure we that of it As maximum tests quarter,
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at That need the of standalone And remained lose need COVID the replace We question we and internationally testing mark sight more important of COVID-XX prepared and But the for is of well COVID the ABC CE are for Operator begin of demand in for indicative our despite are to the bodes fact the influenza fact concludes remarks. and direction our developed certain U.S. is parts ready as diagnostic believe tests widespread to that test seems already test. of begin for diagnostics continued going it the testing especially portion and indicate world to present continued foothold many is seeing our countries. becomes time. COVID-XX other in COVID-XX call. respiratory endemic for the vaccination which orders strong the we for our space. the menu domestically A the answer in the to disease not and
Please [Operator Our from with go comes question Yi Chen Wainwright. ahead. Instructions] first H.C.
anyway for you Thank impacted congratulations India? pandemic first a My quarter. the taking is and for by my in questions CoSara negatively operation is, question solid in
XXXX, during is Yes, you as to in question respect India. first environment with throughout COVID-XX robust in India testing Yi laboratory our know make CoSara. laboratory sales the that thank the Indian CoSara that was and only test. received experienced you for And countries permission - an we CoSara a a very was to
As has in that on of dropped when mentioned my environment ball devastating prepared in quarters the which resulted India the testing, remarks, during basically in the… a last couple country I just
asking are not I'm whether for by what for actually actually affected the asking personnel’s COVID-XX? whether output, asking operation - the I'm the itself, the I'm
of ability or of say operation the ability it had just Okay, But lockdowns they were time joint those come things when that I have to good types that for fine. its lab. of to meet question. hampered there the The the company tests. affected periods operating into is venture people's Yi, demand wouldn't
is, the gross margin first question quarter second demonstrated maintain you the in going expect the forward? do to And
a do is expect be we a to you But going as know, pressures forward. Yi, some there in gross to expect to are will move we countries. able do we Yes pricing that this maintain Yes, forward bit able margin we be Brian. similar some
McCarthy with next Group. comes question Our Maxim go from ahead. Please Jason
Dave for line thanks question. on Everyone, taking the my It's Jason. for
the in vein, outside a potential opportunities driver being of tests world other you U.S., territories? Do remarks. of kind problem question CoSara in mentioned And venture? outside of So like to you other of the similar partnership a Do the to are be as U.S. of it's considering that U.S. COVID foresee foresee continues XXXX? in major is the ex revenue any a joint to my export second in you similar prepared COVID your the you parts
the for Jason. Thank you question,
Our very grow. continue anticipated international is you we to business And to strong. know,
I we are on to mentioned, safe U.S. we XX/XX direction. gradually As during into quarter, domestic say revenues, in in about our where we expected a last move flip XX% XX% it's over had call seeing international a we think kind international mix that to that and of XXXX
And our show seeing XX/XX as was past. did become, as India in and think enthused initial our are that several our it The much countries CoSara. country. the the and question expected identified and a I I'm movement largest not it to any will have potentially that quarter, but the has world, think helping also increase first overseas. way the We test, really know a second of because very is and test that we expecting. the quarter need being that share With the of more just Version we But exploring to into partnerships about we with that for all we that genome along in market didn't with terrific relates respect to we tests, of joint we second the in target have established moves minds, our into you CoSara These things X your venture nature joint distributors, test. how are outside which relationships ventures as ago, and saliva would are becoming. the one be COVID XX have the with reg, our years respect of the markets Currently, that I market had international presence we are don't the experienced COVID our heavy we're healthcare we the than as pretty outside ABC our some in country to in
presence of facilities established reason manufacturing a you types with have that moved was And needs. that for there, large the the into companies know, pharmaceutical all we also so number India companies, of other
we that prudent So that in good we India. a and there's made believe move very
where we're we've what strong goes taking And to conducting also to and such And of PCR. that And give now that labs CoPrimers what things time testing, customer customers, now one expert you'll our a I to providing, XXX,XXX many as would forward real-time Ahmedabad, field, of and as perspective, Jason, unique continue talking very know our And Jason, touch so get far about world with within you not think many in that are with labs. looking what the we're in XXX sudden the somebody expand explode platform, me our are mentioned, that them the like New get forward. things of of a with and the as setting with a tests, to about, afford have and molecular our hep PCR is cost it regular than And and we on low are the device, is realize amount call someplace and our less they of the we don't like into you product like XX PCR, can know more from the hep product, where standpoint, is B and going COVID very a forthcoming of menu. you're let all just our an done. the tests places labs a I minutes, diagnostics how C the or will be ability Bangalore about have But complex doesn't market India unique that laboratory to from Making do testing view see so to Eikon business. to in the different in area broader is nothing laboratories is in that it's more new base rural as today, pretty about technology. that know. know that and as And got and we're of But important something it that products. in you the As more which availability that now a there low and ready labs, to Eikon travel much I test about using test. we XX a but them or a product, like or is cost have that to that to Delhi, cost it the India, travel
our have far be. of platform Eikon is to thing I forward of new in going you think that's to look the terms revolutionary kind and how reaching to
with Hills Our next Litchfield go O'Neill Please Research. Theodore question from comes ahead.
Eikon this I'm home? in congratulations and a was you, lab platform quarter. Dwight, the this Thank wondering at going that on a have is so I box good basically testing to
X.X, Eikon simple likely it kind how too is of go NBC highlighted how the to bad small United know, not way be I to to a it that's back it. device were a where This very showing a see. work television demonstration use. would expect It's X.X in and featured of what was And used they think they it's inch think on workers happen people things square. being quick of our are and States what a to could and as show, showed characterize on device, not it you long to ago as about today's us
or important activate patient, you test little saliva the box, And is app it the a direct thing from start mean, And it. self which a I administered. it phone So the the goes sample to then is just right close box. use about and you cell swab nasal the into
is unique things world that that so, them What accommodated. diagnostics, of You are let than can happened before back doing your go to desk, go molecular back do very doesn't to really the less to come main in away of to fact whatever in in the work, to one a require labs And our has results has it then pathogen. has it not walk you process. to the And you home. required this connectivity and then And the things to health back other sophisticated why the your into were other it made but of of will makes one of to the the also device that's get cloud, be Bluetooth minutes. and points the public data all reasons the this cloud for course, XX and into go distribution able connectivity be because few extraction
many So a another saliva And the world it's this what's lab that and you been to unique end as a of of that in is that the Standard lab important, also offerings idea And, Diagnostics, sets day, out known which and from fact, with a is apart as hands coming years the - it should box in trailblazers, down are of of don't an out school the when used they've who as or and a and in in you discard you lyophilizing it itself you Gold with to PCR, box, be course, will at the fact last pipe. device ability the the a it do but other gives their there. That for very many is currently characterize of box, know, really - of business iteration along we've take that. very gotten or with puts developing rid to being home, because why This companies. I the we viewed renowned the put box of consumable just it's a along product, for it. a into has inexpensive talk the able a done very about utility I extraction, are which environment not then experts then long-term very device, throwaway our the box, mentioned, But a for rapid is this purchaser once unique placed. PCR, a for think wherever it's internationally of in
balance is a stock You've the back? away there shares of sheet giving lot the thought on is cash buying any about now, about got
that, right now. any don't about We have thoughts
cash. lot a have We of
we're right we this think for under the and been to delivery which way take finance down significant, our our best We - execute molecular territory. And test is value to associated we on Eikon important and into very product. out. on universal that worldwide all us that a in operation place think with product need believe is our to our have consider are for we the about would the menu. to will things taking or we we advisement an international in think R&D, about creating and shareholder catapult with respect have We're to of a I marketing. and is very the And able but so that product. have heads We that This excited this cash diagnostics hand our keep enhance us truly flexibility minds reserves to to Eikon it for now, proceed launch revolutionary all that's anything going especially we that a the have base,
to domestically a and test of be to internationally. have both world, it's going and good but distributors, out a We to lot big the take it
this So right continuing to plan accumulating and now, product we're accumulate cash. We on ready go. get cash to
back This Dwight concludes remarks. Egan for closing the question turn and any conference answer session. like to the over to I would
COVID-XX pandemic, impact difficult will on accurately Thank you. predict the Co-Diagnostics to how in of have much long-term. exactly the been beginning Since the it's
to been platform related sales of And are than have do in For technology high expected quality audience and imaginable directly products provided so to suite PCR substantially a believe our what that before able CoPrimer is to been and would the COVID hope a today strong while do to we us, to to and XXXX. gateway illustrate far wider faster remain I I've introduce the short disease medium-term.
a will space, and be domestic performance most Our key customers distributors we anything long-term markets, for prospects cancer growing This of experienced suite established and international becoming are increased importantly the have in even detection more a second substantially diagnostics device exciting platform. our molecular again player Thank with you and in by the quarter. than to-date. forward to first after company, in us with today your call. on into our for diagnostics shareholders. of look for joining talking analysts, our quarter Thanks We Eikon interest you the to molecular market entrance all our the our driven
attending for conference you today's now The presentation. is concluded. Thank
disconnect. now may You
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