Hello everyone, and thank you for joining us during the Lytham Partners Fall 2025 Investor Conference. My name is Joe Diaz. I'm a Managing Partner at Lytham Partners. Today, Dwight Egan, CEO of Co-Diagnostics, Inc., will take us through the company slide presentation. Co-Diagnostics trades on the NASDAQ under the ticker symbol CODX. Let's get started. Dwight, welcome, and I will turn the floor over to you for your presentation.
Thank you, Joe. I'm going to start with our disclaimer. I am going to be making some public statements. We are a public company, so we would refer our listeners to our public filings, including our 10-Ks and our 10-Qs with the SEC. I would also like to point out that the CODX PCR platform, that will be the primary subject of today's presentation, is subject to FDA regulatory review and is not currently for sale. To begin with, I would like to kind of do a small overview of the company. We were established in 2013 in Salt Lake City, Utah. Today, we have approximately 120 employees with four office locations in Utah and a significant joint venture in India. We went public on NASDAQ through an IPO in 2017.
I would also like to point out that our basic vision is to democratize affordable real-time molecular diagnostics in a number of different diseases. We really aim to transform healthcare delivery by improving patient outcomes through accessibility, affordability, and accuracy of our products. During the pandemic, we sold approximately 35 million tests throughout the world in more than 50 countries. On the lower left hand of this slide, you can see a representation of the product, including the thermal cycler on the left-hand side, the individual test cartridges featuring the individual diseases, and of course, the smartphone, which is the interface between the thermal cycler, which we refer to as the CODX PCR Pro, and the diagnostics that occur in the cloud. We have a number of different applications that are relevant in our space, including in vitro diagnostics, research use-only products.
We have a burgeoning business in mosquito vector control, where we test for things like West Nile virus and chikungunya, Zika, dengue, and so on. We have applications potential for what goes on in agriculture. This slide shows you where we have been in our short existence. As I mentioned, we sold about 35 million tests during the pandemic, and the blue dots represent the countries where we did those sales. The green dots that are currently populating represent laboratories who have subscribed to our products, including a significant presence in India. The red dots show where we have done multiplex tests, specifically the ABC or flu A, flu B, and COVID-19 tests. The mustard-colored dots show where we have had presence with our mosquito vector product, and the black dots show where we are currently involved in growth and development projects.
I'm going to take you through a sort of four-part technology review of the company. Our proprietary and patented technology is known as CoPrimers, and our CoPrimers technology is a unique application that coincides with polymerase chain reaction. It enhances the technology in terms of polymerase chain reaction, and specifically, it makes it so a company like ours is able to test for more than one disease at a time, or what we refer to as multiplexing. As you'll see in this presentation, we have tests we have developed for diseases like HPV or human papillomavirus, where we target eight different diseases all in one test with one sample.
Also, our multiplex ABCR- flu A/B/COVID-19/RSV panel, which was supported by a grant from the National Institutes of Health's RADx Tech program, again doing one test that gives us four different answers at a time for essentially the same price, and it's very efficient and incredibly accurate. This CoPrimers technology is an underpinning of all of our tests. This is the platform rotating on the screen. You have the CODX PCR Pro box, which is an elegant little box about the size of a tissue box. It's accompanied with a little cartridge where the specimen sample from the patient is put, usually through a nose swab or a tongue swab. The utilization of the user's smartphone does the connection between the CODX PCR Pro through Bluetooth and then into the cloud where the diagnosis is done.
The app that occurs on the phone walks the patient through the whole process with video prompts so that they know what the workflow is and how to accomplish it. We have very high ratings in terms of the user experience in our user studies of them being able to use their smartphone to conduct the test by themselves. This is an example of the kind of sophisticated test design that we can do with our CoPrimers technology. This shows an HPV eight-type multiplex panel on the Pro. You're using one sample, conducting one test in approximately 30 minutes, and including the human DNA target for making sure the test ran the way it's supposed to run. It's what we refer to as a DNA control. There are nine targets being looked at concurrently in this type of test, and it shows the power of that CoPrimers technology.
These are the infectious disease product offerings that we currently have in the company. On the left, you see the CODX PCR Pro. Next to that, you see a CODX box. We have been using this all through the pandemic, sold them all over the world, hundreds of them. This is something that we have been able to brand with our own name, and we have, I think, all but two countries in the entire world where we are licensed to use this technology. Next, you see a pictorial representation of what is called a kit, and this is what contains the little cartridges. It contains a little water ampoule. It contains the swab to do a nose swab, for example. On the right, you see the kits associated with our mosquito vector smart test kits for mosquito control.
This is a product that is now in about 40% of the United States are represented with one or more counties that use this product, and they're testing for the diseases that are carried by mosquito that can cause a lot of trouble with whoever gets something like Zika or dengue or chikungunya or West Nile virus and so on. I'd like you to meet the CODX PCR Pro. It's a very elegant system. It's affordable. It's high quality. It's real-time PCR diagnostics. It uses our patented CoPrimers real-time PCR technology. It's compact and low cost. It operates via smartphone with the smartphone app, app with video guided instructions, and it delivers results via the CODX PCR Pro app in approximately 30 minutes.
Its real-time test data aggregation is enabled by our cloud reporting, so a user who has control of their data can send their data to their local health provider, their Teladoc. They can send it to a state or federal health regulatory agency all through the use of this aggregation of data. This is another view of the actual system where you see the CODX PCR Pro pictured on the lower right from the top down. It is connected to the phone of the user through an app where the application runs the device. You push a button on the phone in order to start the test, and of course, it involves the little cartridge.
This is a Bluetooth connection between the CODX box, or rather the CODX PCR Pro and the application, and then it goes from the phone into the cloud where it is sent to secure encrypted servers to actually do the algorithms that what we say call the test, either positive or negative or otherwise. There are a lot of competitive advantages to the CODX PCR Pro. On the top side of this slide, you see what has been going on all through the pandemic and before the pandemic and still goes on today, where you have a sample that is taken, sent to a lab, is analyzed in the lab on usually very expensive, large pieces of equipment that are very expensive, and then the results are made available. The bottom line is the current paradigm is expensive, it's inconvenient, it's inefficient, and it's really disconnected.
This is being supplanted by our solution, is our aspiration, where we have the CODX PCR Pro at the point of care, close to where the patient is, even in the patient's home or in the doctor's office or in a skilled nursing facility. This is a process that takes only about 30 minutes from sample to result, very fast, very efficient, and it's PCR accuracy, so it's the same kind of accuracy that you would get in a laboratory setting on a little box that is, like I say, about the size of a tissue box. As we've developed this product, and this is now a very robust product, it is a very full-on medical device. It's not just a sort of home-brew device.
It is a very sophisticated device that includes an ongoing artificial intelligence endeavor and the development of some significant automation as we make the product for use in the field. The automation is prospective, but it has been in development now for quite some time, and we hope to be able to deploy this in the not-too-distant future. That enables us to put the technology of manufacturing in any country, in any city, for a very reasonable cost so that they can produce for that locale the kinds of tests that they need and in the kind of timeframe that they need them and so on. Our current addressable market and targets in the U.S. include physicians and urgent care facilities. There are over 14,000 urgent care facilities in the United States and almost 850,000 total physicians.
There are 500 million physician visits per year, and about 95% of children visit each year. Our next target will be pharmacies, which there are more than 60,000 pharmacies around the country, and many of them are established now to do a test and treat approach where the patient comes in and gets a prescription, or while they're there, they may get a vaccine, and in our case, they would take one of our tests to find out if they're infected with flu A, flu B, COVID, or RSV. Skilled nursing facilities where you have very vulnerable populations is another area where we will focus in our initial rollout. There are over 15,000 facilities in the United States, and these patients need to know what they have. They need to be able to differentiate between COVID and flu and RSV and so on.
Finally, of course, the home market where a parent of a child will no longer necessarily go to an emergency room or to an urgent care facility at midnight or 1:00 A.M. and have to get tested off-site in a facility where there may be a lot of other infected patients. It gives people the comfort and availability to do this in their home. To just give you an idea of the kind of marketing aspirations that we as a company have, this shows you a national pharmacy chain example where currently they use different types of technologies to do the test and treat model. Comparatively, we're shown on the far right here as being a much more affordable situation where it is almost a trivial amount of money for a large chain to have one of these devices in every one of their pharmacies.
Our price per test is also better and certainly competitive with other technologies. We believe that in just one chain that is shown as an example here that has 8,700 pharmacy chain locations, it would be a very significant opportunity and rollout for the company. These are the types of clients that we will be making our initial approach to. Just to remind you again, all of the testing calls, the positive negatives, are done in the cloud, which permits the aggregation of data to be used at the user's discretion with their health provider for authorized third parties such as state or federal health agencies. The little box is connected to the phone via Bluetooth and into the cloud through the internet. I'm going to take you through with a few slides what we're doing in India.
This is a joint venture that we established eight years ago in 2017, and it is a really wonderful joint venture. We have 15 tests that are currently authorized with the CDSCO in India, and these include tests like hepatitis B and C and malaria and Zika and chikungunya, dengue, of course, COVID. This is going to be a real focus in the next little while as this has grown significantly in India in terms of our infrastructure. We just opened a new facility on the same campus as where our current facility is, and in this facility, we are actually making our own oligonucleotides. Those are the molecules that contain the CoPrimer technology.
This slide here shows you the grand opening of that particular facility, which we did last December, and I think it's significant that we've taken a technology like oligonucleotide manufacturing from the United States to India in short order. It wasn't long ago that there was only one company in the entire United States that could make oligonucleotides for us. Now we make our own on our campus in Utah, and we also make them in India. Very high line science. This is me speaking at this particular grand opening along with Mohal Sarabhai on the far right there. Mohal Sarabhai is the grandson of Vikram Sarabhai, who's a national figure in India. He was in charge of their space and aeronautics program for many years. The recent module that India landed on the moon is named in his honor, the Vikram Lander.
They recently had their first nationally produced computer chip, also bearing the name of Vikram. It's a prominent family, and they have significant business interests in India, and they are our joint venture partner, and they have been a great partner for us. This shows you the kind of finish out that we do inside these labs. It's very upper class, class A sort of development, and it looks wonderful, and it is very functional. The value proposition of what we're doing in India really is focused on a couple of specific diseases in addition to upper respiratory diseases. Our primary targets there, both of these involve tests that we have developed under grant support from the Bill & Melinda Gates Foundation in the case of TB and also the Bill & Melinda Gates Foundation with respect to our HPV or human papillomavirus test.
This shows you on the left-hand side a map of where PCR solutions are available in the country, which is the largest populated country in the world and the largest democracy. The clarion call from all of the experts is that they have to move from microscopy, which is a 125-year-old technology where they smear it onto a slide and look at it under a microscope. That has to be replaced with molecular technology such as we possess and have in this product. What you're seeing on this slide shows you the disbursement of PCR devices, now usually very expensive PCR equipment. I'm going to now show you what the market opportunity is in terms of the types of clinics and hospitals and care centers that comprise almost 30,000 different primary health care centers performing microscopy that need to be supplanted by molecular such as we have.
It's a great market opportunity for tuberculosis and, of course, for upper respiratory and human papillomavirus. We know what the need is and now we are providing a solution. The comparison between what they have been paying to have a product that is a molecular product in those markets, you can see here devices that cost in the approximate $20,000 range or between $10,000 and $20,000 compared to our fully landed cost of less than $1,000. Finally, I just want to show you our anticipated regulatory strategy. We have tests such as the flu A, flu B, and COVID/RSV multiplex that will be taken through the FDA clearance. That'll include a clinical trial and a regulatory submission, and then we'll go into commercialization.
In India, we'll do first and foremost the tuberculosis test, followed by a human papillomavirus test, and also we'll do the flu A and flu B and so on in a multiplex test there. We will also pursue regulatory authority through SAFRA in South Africa for relevant diseases and also in Saudi Arabia, where we recently announced we've entered into a memorandum of understanding with a prominent group in Saudi Arabia for this same product line. Again, our U.S. market adoption strategy includes physicians, pharmacies, skilled nursing facilities, and the home market. In India, it looks rather the same. It's primary health care centers, diagnostic labs, health clinics and hospitals, and mobile units. It will leverage our existing sales network and the CDSCO IVD clearance in the country.
Finally, and this is my last slide, looking forward, we expect an expanded test menu, which will include things like multiplex sexually transmitted infections, a strep A test, and we have a strong interest in going after the personal pets, livestock, and agricultural markets, where we'd be providing tests for dogs and cats and cattle and plants, giving really everyone our company motto, the power to know. That concludes my presentation. Thank you for joining me today, and I'll turn it back to you, Joe.
Dwight, thank you for that presentation. Looks like there's a lot of opportunities ahead for Co-Diagnostics, and I'd like to thank everyone for watching here today. If you have any questions or would like to schedule a meeting with Co-Diagnostics, send us an email to 1x1@lythampartners.com. That's 1x1@lythampartners.com. If you'd like to learn more about Lytham Partners, you can visit our website at lythampartners.com or follow us on LinkedIn to stay connected about future events. We hope you all enjoy the rest of the conference and have a great day. Dwight, thanks again for your time. Greatly appreciate it.
My pleasure.