CODX - Earnings call transcript Q3 2021

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Operator

Good afternoon and welcome to the Co-Diagnostics Q3 2021 Earnings Call. All participants will be in listen-only mode. When do you need assistance please [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. To ask your question, [Operator Instructions]. [Operator question, your withdraw Instructions]. To event Please recorded. being note this is over turn Benson, I'll to conference to now like Relations. the Andrew Investor Head of go Please ahead.

Andrew Benson

this Egan, Chief I and Officer, and the Thank Andrew Chief Executive management afternoon, Financial Brown, me Officer. Co-Diagnostics Dwight Grant. of are including you, team, Brian members am joining Benson

call call our analysts. from the begin remarks will questions management's prepared and to then We with open up the

of Co-Diagnostics objectives, this expectations, the Before may we listeners inform during begin, the are made statements beliefs, future to statements. course we forward-looking performance that by call Company constitute statements. Any assumptions, would certain about forward-looking events, like statement or plans,

For commercialization, management forward-looking all The market and financial and trends Company and regulatory statements. statements are believes features assumptions. example, of plans reasonable concerning clearance, of based development, new XXXX objectives on operational are guidance, statements these products, the and

any results and cause from assumes are implied obligation unknown statements. statements those to SEC. may cause these known unanticipated this after these reflect involve the factors occurrence Co-Diagnostics and to by However, forward-looking the Co-Diagnostics to and update actual to from of filings be materially not differ and events. results are uncertainties could or in expressed which or that performance Important future expressly results of with in to detailed materially circumstances occurring any statements risks actual forward-looking such disclaims statements duty events no reflect guarantees call the any or different

considered contain with this earnings Chief to Dwight? We I over this measures for should before Co-Diagnostics to to call the Company's At certain like most release you measures Executive out call, financial may not non-GAAP Egan, Officer comparable would time, to shortly the results. non-GAAP GAAP turn measures in non-GAAP replacement financial today's the addition, which presented and to reconciliations be Dwight These In financial together refer Company GAAP may call. should be read results. discuss the a

Dwight Egan

Thank overview And And you, of our for strategy. thank against your financial quarter, joining provide this a all, our an us. for of key Andrew. the we On take will questions. will metrics. progress on you, results performance discussion call, we Then updates

Co-Diagnostics we've momentum clean achieved we're the are demonstrate the And our SARS ongoing able on quarters, gross our to growth products. with quarter balance strong Company. in and to with cash margins We leading while products international saw and our us become at sales along the strong we CoV positioning proud sales record providing a was - believe our diagnostics been This predictions been for -X. and exceed expectations that continues valuable have experiencing battle accumulation global demand molecular to over X sheet last deliver

that infection who with need be have believe we before experts followed We the flu. that followed agree potential will similar stated revaccination, involve subsequent pattern the by seen would re-infection, to to by with likely and likely COVID-XX vaccination

people. indicated X Moderna, months, XX%, against to respectively September. published among dropped For Health, Medical XX.X% to Institute, in recently from from & and protection performed and that the Texas the study the the with effectiveness The decreased and after Public example, the March prevent study Johnson of the death Science. Veterans Affairs showed University Public Pfizer, a XX.X%, School researchers Johnson research Center vaccines also to the The COVID-XX journal especially Health that older of of vaccines

hotels, a to operationalizing We returning normalize regular to with COVID-XX new order public The the many to and in to to intend and testing, increasing characteristics it create office, a pandemic it reopen. a potentially stated, other schools, may that doing to continues more will for that venues, will must asserted COVID-XX protocols of to travel, and normalize induced fight done. years for COVID-XX appearance reliable also COVID-XX $XX January to Regular allocated against to new the scenario is variants widespread of schools testing. Biden in be so In these health to forth. opportunities to there vaccine to back will society, and require Biden and Accordingly, and $XX finding as A schools on mutation has workplaces, reopen COVID-XX to is the particularly has increased safely is resulting and control probable relates As on in preparedness to strategy ships, national coordinated said testing spread, to Face that virus effort required which the a Gottlieb, individuals spread billion increase be America come natural the the established immunity. spread, pandemic of regular be Company testing potential which school work, be its mutate, initiative response etc. the issued and to go things basis. school, unvaccinated Nation, wherever The testing should to plan safe believe a basis businesses, we COVID-XX. that back that Administration plan with an Scott the restaurants, Company Dr. safe who for need go The entertainment variants. billion agrees operationalizing on vaccinated have and XXXX,

announced Just as grow. and Human yesterday, likely testing will follow-up healthcare that of in need Department settings Services the Health increases, for U.S. testing at-home the

high-quality access which required conduct a administration's ongoing COVID-XX. on to Rescue take part with by Biden of to rapid if go positive, be - to may tests molecular to from America's Company them. vaccination, another strengthen diagnostic American COVID-XX healthcare increase test the We HHS testing, before the commitment Harris capacity at and applaud antigen therapeutics a be invest of accurate market test will can example, quick, will pharmacy they Americans, an that testing emergence combination someone hand-in-glove The buys rapid testing diagnostics to believes address for therapeutics local seek test as who a through an for Plan confirm prescribed Accordingly, -- and access to physician. increasing million For $XXX manufacturing their they the at-home result. and over-the-counter to point-of-care provider will that of the

As recently former clearance of related record in B to Mexico and ABC the sold the become COVID-XX in of Then of large in in our partnerships of an ongoing in in becomes been testing been well a rise A, COVID-XX sales multiplex allowed week achieved products, Kingdom, in recently be test our which was being gain likely direct QX sales sales variance society, sales us model more Paraguay, business and by is our large COVID, continued the to COVID that have to the of approval life. has customers. demand of and part as to strength latter to both followed the last we our our This Guatemala. original approved US including the other in as endemic flu, saliva as test COVID-XX involves United test and to the record to September. have fueled Co-Diagnostics test. been The of normal Delta cross-section the announced our by international worldwide able approved achieve our part that assay and for and

clearance which this and illustrate model. test success kit In our Our of in regulatory of Anvisa all also original international Brazil received QX, presence COVID-XX by in

to Importantly, sales platform offerings, our just products COVID other on opening of our products existing those but an built are larger for our up our also not as CoPrimer driving for patented now market. for overseas diagnostic suite relationships well, planned opportunities -related and even

for test, Dengue products month. serve announced new of and to are assays in product development, take Dengue, an center expanding tests disease is clearance several marks joint Co-Diagnostics to We follows in - important This multiplex This place emphasis CoSara on a seeing the our already the our manufactured Chikungunya vitro offerings countries. Chikungunya this by assay PCR the of is in driving example, CoSara, Dengue in last segment. factor Zika, centralized and registered and from India laboratory CDSCO products profitable as clearance sold standalone infectious better our approved our Chikungunya receive and RT as uptake and recently CDSCO Saragene recent diagnostic. tenth its our

segments. and the using designed for in X new the has Company for X sale all test. technology the and be In manufactured clearance PCR the multiplex previously CDS papillomavirus patent CoSara pursues Dengue assays, tuberculosis, Chikungunya at the Malaria, vertical, to test clear business hepatitis addition as sold in assays Company's human and those In infectious disease COVID-XX B, co-primary Indian IVD real-time and market. received to C, Hepatitis

be that customers focus different Not many large result COVID, for be but that and small hundreds would in infectious an we resistant is as our our taking development development have will pace throughout in drive that optimistic Eikon This rapid is and comprises first a platform. is customers, test The a and include mobile which designed Results at-home have Syncytial and grow is comprised between the our preclinical single-use platform domestic app. prepare which segment FDA collaboration virus The been is of work After lab accessible. into known product currently and The diseases reusable analytical simple the while system in centralized ABC and This deployed continue continues in Company's many settings, pipeline there a for inserted differentiate and represents targeted to swab DNA is by a sales forthcoming system business countries. point-of-care the Among is distributors capped expand the The RSV. A to fast to point-of-care in to versions for disease the The product or test is are efforts the instrument. R&D for applications Multiplex development strong of by XX system. and our considerable, of infections EUA of rinse which and are that oral our and place submission. sample assays. in foreign an expensive at-home Company every a to to markets. capable is in sexually network and a market are believe of or can optimization and the of performance segment instrument, Smart footprint the low-cost, the about vertical, detect market introducing reporting, testing test is what future, to and as and labs the in these Sample Operation a world. test at a cup and widely PCR. species performance with in nearly diagnostic our the easy-to-use the our X of a over we to of with designed new clinical other partners. transmitted kit, progress currently including studies addressing and the are the delivered for app. potential future laboratory We SDI the of settings. being underway, expansion to is performed differentiate testing include second results, to Logix addressable amplification offerings well. interpretation actively we worldwide RNA, of of via variety platform tandem needs Eikon panel The mobile by with superior preparation, our expansion Malaria between -- for impact be prevalent other that parasite causes multiplex tests Respiratory capable in maintaining centralized treatment, participating automatically of just in

the also cost, designed call, low Eikon quarterly results. of diagnostic Eikon this believes has the of all testing. test going point-of-care other Eikon antigen fast, less being compared robust competitive fully that certain vigorously results we envisioned. I accurate meet forward, of compared Co-Diagnostics integrated, test the aware to the to that all to X development. market Checking accurate key pursuing last to criteria boxes less same includes systems. gold-standard or our differentiators the and cheap, Eikon. offerings sample-to-answer results are attract at-home molecular Moreover, During overall we're platform the system the seeking But versatile very competitive And fast remark exceed a capabilities been will offerings. Company of PCR

human sector. as product of robust tests. receiving of well the successful a the leap value device, the up the like and Co-Diagnostics, were less timeline pandemic provide a an COVID, innovation, a and represents same conditions and for platform bright Company trial which its whole. for being dental potential to will EUA, and potentially sector and Immediately sector, or is which currently currently utilizing team. and In overall infections just for enterprise enhanced is a the here to of of followed completed brought to After number continue this the single it conditions will At multiplexing the anticipated other as developed including testing, updates a of non into December. less CDSEO tests molecular our the opposed the with - markets better analyte of parks, core, we Systems by a commence device compared robust or Just the outreach with key flu speed and to and testing of public ships, Company doctors sales, The accurate standard PCR addressing flu possible. in the is call, Company including marking, cruise factor I'm those expect multiplexing trial, on currently future covering and sales, expects enables the the B, a infections panel large And a place, with beyond such as test, compared the with individual that Company and also point-of-care our which clearance is studies it use initial PCR that course, be a residential over to and engineering term, EAU, campuses, Accordingly, those to along that The that with also sample for Many the venues. the a Eikon to pernicious COVID. high and by will facilitate FDA to R with of airlines, many all which one PCR getting gold cost while to as COVID-XX symptoms. authorization syndromic for this a to FDA, product will using significant future. diagnostic testing ongoing together with development short to non product and panel potential We From the molecular underway, infrastructure protocols validation open including testing diseases to Syndromic play schools market. attend theme technologies submission This conduct soon to not the includes to explosive the study user in earnings future authorization, college antigen testing level differentiation benefits of the before as that than and Company way antigen-based factor tests. call. COVID be Diagnostic clinical significant A, compared provide delivering co-primary and product into rather and present upon test, entertainment including require in the the multi patient PCR-based strategy as right proposition clinical from long-term a skill sets, since has Healthcare technology by number of indicated do our the non-PC several next provide the multiplexing clients, Eikon pleased potential at-home competitors. submissions testing able at-home results leveraging focus the as drug regulatory while for to with strategy conclusion diagnostic opportunities. last address similar campaigns product creation to include restaurants, will offices. believe to accuracy primary RSV not the emergency technologies. being significant The consumer as the the to that CE launch. for about I expertise, sells strategy Company role point-of-care groups we announce goes an for the vast to will regulatory infections,

ramping is historic of our in the In mutations detect detection a which that of samples. The Co-Diagnostics partnerships with Progress position agricultural including positioning vertical mutations a biopsy the single are development exquisite library in proof-of-concept to health performance of extending Eikon for testing our designed have contract addition, in the Bayer have continued development NGS work our point areas. will with Company with since over to and project curve these initial developed as blood, assays LGC. been profits challenging veterinary Bayer as the of health, The in the results, concludes that cell to multiplex from Other remaining that at-home to for evaluation. pathogens talent, associated believe cancer with we and this accurate clinical growth. and Company as This onset for and beginning trajectory to is infectious positive up of cope significance Co-Diagnostics EGFR of testing common capabilities and has prep and R&D non-small platform assays of applications our with diseases. Crop X also this lung platform gold these panel other The most include infectious settings. technology strong panel shown ongoing forward. of COVID in for are believe take in clinical cancer. our mental being that capable in is initiatives we ability human human is only the for progress to drive detection, under far Company, several using regular medicine. continues, is of syndromic an care present further We being operationalize going my the beyond solution, partners pandemic on the pursuant PCR Overall, undergoing continue our menu cancer these nucleotide in Services and care. with and and the These technology. to CoPrimer fast, excellent remarks. standard and performance the of significant ahead part development with liquid with will has gene future Negotiations testing are developed This of optimal clinical Analytical verification other is in is well each the our dentistry, and growth evaluated process specificity history COVID, being for been be for a investments basis diseases platform yield added inexpensive, results. as It It pending not of in but time.

to Brian the me over review turn Let things numbers. metrics for now and Brian. Brown key of a

Brian Brown

Dwight. Thanks

quarter marked $X.X Smart record million the for the $XX.X Company, the increase prior-year third milestone totaling continued increase of represents This another from or The revenue Our the from sales due for test. strong quarter totaled period. to the is primarily pandemic. an COVID-XX XX.X% XXXX quarter. the XX% for COVID-XX of million Gross the reflection of increase quarter ongoing million, million the $XX.X an a growth or logic profit of by $XX.X third

expected the for margin increased revenue prior-year gross third as a of XXXX, compared XX% Primarily third commissions the to period. shift manufacturing Our $XX.X costs, for quarter XX.X% compared the both and or sales comparable of quarter development research XX.X% from XX.X% increased XXXX. the increases The $XX.X in our $X.X continued in by higher to the gross -- the improvement higher XX.X% Year-to-date XX.X% in mix reflecting year-to-date Sales marketing and last of international were the our quarter driven prior-year for Total operating product up from margin from the quarter from the increased $X.X third-party million million a million quarter at marketing percentage prior-year of gross Year-to-date in on higher quarter up our in profit year. third and of and and third result percentage expenses by ended an grew million, expenses. sales. operating $XX.X million, to of period were increase the million of an expenses $XX.X period. million from increase expenses $XX.X quarter period. processes

XXXX. and quarter to from of million the expenditures The up up for XXXX, the marketing XXXX the compared XXth, same X $X.X Our increase and expenses the identified at-home increases operating planned primarily $X.X of related R&D for Total sales $XX.X point-of-care expenses were the million, expenses first development for in research for third and X $X.X were September months months ended to third reflects million our expense million device. by of quarter. and

months million, of period earlier quarter $XX.X described. -- Year-to-date offset quarter million in XX.X%, the prior income third of Third of XXth, $XX.X same the year from was up from to expense was the and up to from period by was million expense XX.X% of for third million for quarter the expenses, rate before per up reflecting the an $XX.X Income quarter ended $XX.X from result nine quarter. operating comparative the effective income before in tax XXXX, Primarily XXXX. margin the of an compared And million third income tax sales million X-month representing $XX.X $XX.X $XX gross in September increased million increased X-month of tax for was million gross operations effective million, $XX.X and income for -- as income for taxes XXXX. tax for XX.X%. operations increase XXXX. $X.X from Income totaled in was representing million, the $X.X rate taxes an period, income a

statutory state taxes, discrete rate due effective the of will items, tax items. from to U.S. and differ permanent Our rate federal XX% generally

For recorded releasing resulting both valuation our income future benefit we allowance to XXXX, X income a XXth, the ended current and from taxes X due pretax positive months and results. from September

share $XX.X Income or quarter compared diluted million per $X.XX Third income result or a share to decrease the income of compared was was quarter. The in net diluted a prior-year $XX.X per fully net increased fully to tax QX of $X.XX of in as expense income XXXX. million net

positioned a processes million to future of $XX.X to development end by of our increase second totaling highly December XXXX, equivalents the With $XX.X growth. at continue and XXth, we up from strategic no marketable research investing XXXX. remain people, plan and September third in executing our the securities million quarter XXXX through drive strong quarter debt with $XX.X remained of cash and the cash, from in liquid XXst, has sheet solidly million growth balance Our Balance on Sheet, an

calls our plan we balance, cash marketing during and our expenses discussed to reflecting we of earnings the significantly position. quarter still this R&D sales our debt-free third in we were year, strong and XXXX, able As and grow previous for increased

turning activities ended XXth, the for was cash prior-year during Now to cash operations flow significant months to in operating people. reflecting continued period. X cash of flows. work September to million XXXX, improvement, the flows Net our provided million revenue primarily This $XX.X by process growth, was the $X.X cash compared due increase operating of from and our strong hard

first Our team's strong we for the solid efforts the of very continued anticipate year. the and from achieving with are momentum half pleased we XXXX results the

Turning now our to guidance.

of full-year products. our expect in the for reflecting domestic continued million, $XXX million and range international We revenue strong $XX and demand

earnings $X.XX, share our which range anticipate includes full-year and R&D in diluted We and new a our $X.XX of to processes. investments continued per the in also effect people platform of diagnostics spending on

effective XX% guidance, an of an share state expectation immaterial the per an tax year for local to of earnings the expense XXXX. in tax of and is compared included Additionally, of federal full rate amount

to financial our with growth the which Eikon enables pleased very are us We such opportunities, platform. in significant position, as strong invest

over and the now the With We solid Company our progressing upon business turn Dwight. a that, back are presentation build position to in I'll strong will to foundation continue to continue forward.

Dwight Egan

Thank concludes ready question-and-answer to you, we call. begin are remarks. portion our Operator, the That Brian. prepared of the

Operator

question-and-answer To the [Operator ask begin your Instructions]. now session. We question will

before we question, To If of pause At momentarily please phone, your the you're will please withdraw our take [Operator handset keys. speaker pressing assemble to this roster. using time, a Instructions].

Chen Our please with first ahead. H.C. Wainwright, from today question comes Yi go

Yi Chen

Thank you questions. for taking my

during the What in some revenue generated Firstly, the of could you provide please third percentage the quarter? was U.S. color?

Brian Brown

that provide for Yes, we can you.

second just the and beginning grab the XX%, at the said with the me end which for which quarter, So and what paper, approximately U.S. very was is In third year up consistent domestic, was call. XX% we there my year-to-date, let about in of our quarter, international, is. year-to-date, XX% in third the in the it it you X internationally revenue XX%

Yi Chen

-- fourth fourth Got XX it. for the up quarter lower that is project which annual Thank XX XXXX, It slightly meaningfully million the based on And million. the for than the something something you. your appears you guidance for third quarter's quarter,

comment So the can you forward? revenue trend going top-line growth the on on

Dwight Egan

Thank that you, Yi, question. for

in involved the test the been since have entire We COVID-XX of beginning business -- supply the pandemic. for

it seen the we've which different flows things in been the so what are and virus called the goes And such ebbs such. waves, driven variant is as typically of COVID-XX by Delta and as

you're so any What in maintained of also isn't the going the us of end and the waves on, Osterhom And time. status. with the that until period, at going is what's the to COVID like early Michael somewhat we through mercy COVID is COVID on context have particular opined of of away, that be going Dr.

country seeks the get operationalize, the for COVID, and one or So the to We to ongoing at to constant and we do of terms we businesses COVID there think demand and will expect level see ebbs flows, and schools for trying as a peaks reopen. and and in valleys be demand other.

create and the the a of year intends Company, is look product the course ago, with to fast, operationalizing system Eikon of address and and we Our goal as accurate this a inexpensive. May, future world into which that was the which is an to elegant needs platform, that started a is

lapse over getting final that began we so being to that to a the able are And product. year-and-a-half ago and of project introduce well

environments. to advantage and we of we're the think testing introduction point-of-care there, able runway we be think at in going product operationalizing take that time very a forward to the different So good which going the into we at-home of operational have all the

and us. plateauing say uncomfortable to be be level happening United and definitely COVID very will of impact aggressive United too What don't daily to want seems here almost predict at the we hotspots trying to the with a States. about XXXX and deaths it are waves and can is So abroad, the I there the States there. how In U.S. still in

an environment we is is that to address guidance, it's to is for and to point-of-care future, hard predict, that going at-home remain testing the our we why developed COVID but and we the years and reflected product have cautious in for the by environment. at foreseeable to come, and which mean needed So that a believe that very

forward look being COVID. test also far to through provide We with beyond platform our Eikon able of the to

of know, that the solution. in of address be COVID As you a optimal a new diseases number make is comparison Eikon those people to around platform, the And we with many to really terms globe. pale -- infected in also elegant our able expect which either

Yi Chen

Got it. Thank you.

Operator

Please Our next question Group. McCarthy Maxim ahead. with go comes from Jason

Unidentified Speaker

symptomatic will testing big do in potential for you taking you is to Nathan(ph) codecs is that suggesting this our eventually from is do and and how that in addition, thanks and new Co-Diagnostics. and call Do that the COVID-XX move by who Okay. market leaving antiviral. players players for are you treatment Pfizer congrats on think compete market an think using towards market quarter with and much think Roku oral effective the kit market our on from the flu, so the suggests Jason way, data can that the play we're This for

Dwight Egan

call RSV the But not an about is. urge projected is wonder It's can listeners because of adding your is going going that. I it in to have that the as panel anti-viral worldwide When the to for forward, And be to In to going of indicated that require -- same we to -- remarks, statistics therapy my respect than XX% to going cavalierly. to I to And a it our is to on reasons flu, is the a we the the concentrated run. drive somebody going going about you're long respiratory read things it therapeutic, the prescribed cost of the the many testing, be applaud get we more expensive as get with something before to we're also I that do one And to being research test like talk one why the of It's about. test can population, own introduction X% same we which therapeutic. from it's took going treatment. what panel, with particular in to anybody to that's going additional therapy. that something but flu, X% get why it's of That as our testing an know, same diagnosis we worldwide the because ways, think state that. so what referred Test. infects on which would X% bring syndromic mentioned ABC of is -- the upper we've you population disease to first impression as that sample And see we'll which this you

players that their area upper So we is most where upper have the one done respiratory been very main testing, of the has of that sellers. The panel respiratory been legacy have focused. much think syndromic

cost having to syndromic number fraction an that of provide in of to we're very able anxious fray, terms upper that of the be be So providers panel just get infections, a to the currently a respiratory and that for structure, are the for in and at spend instrument, individual a and it. will key both cost tests,

as Now, that. for talk the is the about therapeutic else expert to I'm who antivirals, not to business in to

to own States. additional. So it it to arrived. we think very to that will testing due making forward look in your see and doing Testing the are diligence on I'll drive we're that, the leave We we here therapeutic a enthused but United

Umbrella forward world equivalent India alone. basically CLIA put entire parts other the of many to available currently making laboratories. India, our NABA like XXXX are the country, they That's XXX in about about XXXX clients we only in which look only have lab. well, XXX have in so those ours. of of to their it of And about. now under our have we laboratories They So business

explosive. we be can that RSV, virtue laboratories a country of $XXX put when with lot imagine they're product We COVID, do labs we're very into going going are cost in you B, -- potentially country there. of the that on it's in which of Flu testing of are box syndromic to to the taking that into able business, will the by there basis go these of a for Flu thousands A, So molecular be other that molecular a think to tens

Unidentified Analyst

congrats question, once the my for taking Thanks on and again, quarter.

Dwight Egan

you. Thank

Operator

Research. Theodore comes ahead. O'Neill question Hills Please Litchfield with next go from Our

Theodore O'Neill

congratulations and Thank quarter. Eikon the products. X questions about on you the

dealing seeing you or second And have are to with chain is issues how design question in you agricultural one livestock that is, also product? what the a the the first else market? The is, as everyone as product is supply going applications environment

Dwight Egan

Thank And for you are how Yes. you. the joining Theo? just I will you thank call.

a basically interrogate. Eikon. that RNA handle we're everything It's that enthused product DNA any do about -- obviously that we will platform any has want to -- very Our with to

all that now, a its we've saliva, you in freeze-dried, were saliva of to So innovative primarily technology bare lyophilized, chemistry. Eikon and with with or work dealing been it's extraction and done of involved -- brought direct samples amount the those kinds have right tremendous targeting with is free,

Alzheimer's. So dental. market the we are that different There able is address diseases have there that disease, like testing dementia mutation, regard, of the particular things some markets if -- out about and there you in type, Where think are including mutations going contributes as be kind of to we're people for are to where periodontal a targets have not contributes very but all they that least we're at development large you the mentioned, who enthused periodontal wrong like or and of that to for a significantly it dentists disease.

there laboratory in whole of being are a are are like and places that other some to there partners going our areas tests developed and involved people So lot that and that disease in -- veterinary very states. dentistry address different are with interesting

taken on grown tested need before in know of that the and right have with -- accepted their buying to going Eikon kind also important and role could So, and soybeans, wheat able that dealing need a play to and of let with soybeans very trucks when in coming with are that of testing being corn you're course, content. genetic to the is 're Monsanto with delivery on-site a the like a they whether soybeans example, and be Bayer for kind were by seeds or actually somebody who

-- I a here for know of don't I to think it. lot places think different wide where it be it we're -- I introducing opportunity has going has a a

Authorization that the FDA process is that that mind, certain not window. things Now in clear require under Emergency at involved said, to we are can everything Use Theo, there keep it that in be and

So full Clearance. through will certain XXX-K have diseases to go

in certain those so where out will But clearance, it And things other that includes areas of rolled areas be measurably. FDA doesn't and require agriculture.

business equine like testing mosquito and those West of the and not and Nile into such. mosquito Zika clearing whole the of vector require the involvement We're and the terms it's Eastern But for FDA Our products. Dengue encephalitis things population. virus purview FDA. does in of In not the

area It's potential a FDA. you're test same ing And surveillance the of, X individual. regulatory not don't doing overcome. discrete does a we you the say, where testing, at is in as Eikon people also great So to has referred of inside mind time. where kind the product not also when that to that, looking a students, fall technically like, population of, at of whole we're testing what a some that, And the hurdles purview do the keep in have real grade of school

And also with talk surveillance and forward-going of COVID. job done and excellent this the during the become think may FDA, are there CEC dealing things our the pivoting and we when testing in and an in so adapting of at part I FDA, offering. others, And workplaces have that about schools process like entire

we'd compliance. the really our and in is others So off approach our and head full FDA context give them, the to to of whole

oriented be out purview. things a as I there it that FDA outside a call about will that But clearance FDA products perspective. not going mean se, will that forward So remark per from at, requiring the compliance their clearance are we involve fully Eikon to are don't pursue of

Theodore O'Neill

chain design problems you into about supply what so don't are that run seeing? that other manufacturers with issues, And

Dwight Egan

units other Yeah. haven't going at here point That currently just issues pleased part manufacturing going with -- able several And we question. Eikon chain that the of in being large our determine commencing our on say rather we a been the and done United are at to to mentioned particular be factor with that on trial. to shortly haven't we we'll we I'm the point and be have I was in as there our this used user the And in your supply -- clinical this States, study. is any study are Eikon. that States call, United have

the saliva, going in chain little patients. a And one test a called -- on into and then is taken was that of results very, patient, the some is reaction? the Eikon don't with the nasal some put box, basis, completes smartphone is once to raise example. foresee we swab world cloud. having the for a on palm for very But the technology cloud. the the experts and chain actually the issues by cool engineered Theo of the The box in that the the delivered with best and sample test in reasons problem from So is with what's right that supply of that the is the of local the much

with and electronic would bunch intelligence understand potentially So data be up issues, respect be And a much with need also of goes opens so with the it's records cloud-based. of it is of to medical on as Icon that electronic involved ERX called. a very -- what you whole that to prescription, other

besides the the So there's platform of at lot chain box the Eikon a moment. and on cell no going phone, the supplying things with the of development but issues

Theodore O'Neill

Okay. much. Thanks very

Operator

question-and-answer will for closing this turn gentlemen, session. the Dwight and Ladies conclude over back Chief I'd remarks. to Executive any conference to like Egan, our Officer,

Dwight Egan

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Operator

The conference you has for now concluded. attending today's presentation. Thank

concluded. has you conference may for presentation. Thank now disconnect. now The You attending today's

may disconnect. You now

Co-Diagnostics (CODX) 12 Nov 212021 Q3 Earnings call transcript