CODX Trade on Apr 16, 2020 13:39 from beno: Tradervue User Stock Trades.

Fundamentals

As of: Sept 30 2019
Shares Outstanding (latest from broker): 17.3m
Cash: 2.544m (Jan 28 2020: +$5m closed offering, Feb 13 2020: $10.2m closed offering)
Current liabilities: 307k
Current ratio: 10
NWC (total current assets - total current liabilities): 2.777m
Accumulated deficit: 23.154m
Book value per share (Stock holder equity / Shares outstanding): 0.192
Monthly Burn rate (net cash used in operating activities / months): 433k
Estimated current cash: 15.58m (counting recent offerings)
Baby Shelf Exemption price per share: 4.33

Catalysts / News / Painting the picture

Enough cash for 35 months
$25m S-3 Aug 2018, $4.3m left
PR on Coronavirus: Co-Diagnostics, Inc. Designs Test for New Coronavirus Using CoPrimer Platform
Receives CE (Europe approved) Mark for Novel Coronavirus Test
March 11 2020: WHO officially calls COVID-19 a global pandemic
March 13 2020: US declares COVID-19 an emergency / says US will partner with Teladoc Health
April 16 2020: COVID-19 Test Technology Validated for Use on Saliva Samples

Technical Analysis

-Intraday pattern: Runner
-Levels: 10, 11, 11.70, 12.70, 13.5

Original Plan / Strategy

First test long of 11.70 level, no confluence but level was A++

Review

Got in for 3 lots which was good but I scaled out way to quickly and left lots on the table. when I see good setups like this I need to scale out more slowly and wait for that crescendo effect to take place before getting flat...

Lessons Learned: ON A+ SETUPS, wait for the crescendo effect to take place before getting flat!