Why Did CODX Stock Surge 45% In Pre-Market Today?

The company said it will increase its presence in South Asia through its Indian JV CoSara Diagnostics.

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Arnab Paul·Stocktwits

Published Mar 20, 2026 | 8:54 AM EDT

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Shares of Co-Diagnostics Inc. (CODX) surged more than 45% in pre-market trading on Friday after the company announced its foray into Bangladesh, Pakistan, Nepal, and Sri Lanka, a move that lifts its total addressable market to an estimated $13 billion.

The biotech company said the expansion will be carried out through its Indian joint venture, CoSara Diagnostics. The expansion will support the rollout of CoSara’s PCR Pro point-of-care platform and SARAGENE test products, pending regulatory approvals.

Mohal Sarabhai, CEO of CoSara, said that South Asia represents a large and rapidly growing market for molecular diagnostics, with a significant need for easily accessible, non-invasive, quick, and reliable testing solutions.

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