Co-Diagnostics, Inc. (CODX) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
CODX currently has 3.69M outstanding shares. with significant dilution risk as 81.7M authorized shares could dilute existing holders by 2216.8%. The company has significantly diluted shareholders by 159.4% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 28, 2026 |
S-3 filing: This prospectus relates to the resale of up to 4,942,341 shares of common stock, including PIPE shares and shares issuable upon the exercise of pre-funded and common warrants. |
3.7M | 82M |
| May 21, 2026 |
8-K filing: Co-Diagnostics, Inc. entered into a private placement transaction for aggregate gross proceeds of $3.0 million, involving the issuance of common stock and pre-funded warrants. ($3.0M proceeds) |
3.6M | 77M |
| May 14, 2026 |
10-Q filing | 3.6M shares outstanding |
3.6M | 77M |
| May 12, 2026 |
S-3 filing: The company is filing a shelf registration statement to offer up to $150,000,000 of various securities, including common stock, preferred stock, and debt securities. |
3.6M | 77M |
| Mar 31, 2026 |
10-K filing | 3.6M shares outstanding |
3.6M | 0 |
| Jan 01, 2026 |
Stock Split
8-K filing: Stock split 1-for-30 | Outstanding: 60,892,582 → 2,095,031 |
2.1M | 0 |
| Nov 13, 2025 |
10-Q filing | 60.9M shares outstanding |
61M | 0 |
| Oct 29, 2025 |
8-K filing: Co-Diagnostics, Inc. entered into a Securities Purchase Agreement to issue and sell 12,002,272 shares of common stock at $0.55 per share and 725,000 pre-funded warrants to purchase 725,000 shares of common stock at $0.5499 per warrant in a registered direct offering. ($7.0M proceeds) |
39M | 6.3M |
| Sep 18, 2025 |
8-K filing: Co-Diagnostics, Inc. entered into a Securities Purchase Agreement to issue and sell 9,619,000 shares of common stock at $0.40 per share in a registered direct offering. ($3.85M proceeds) |
39M | 6.3M |
| Aug 14, 2025 |
10-Q filing | 38.5M shares outstanding |
39M | 6.3M |
| May 08, 2025 |
10-Q filing | 32.0M shares outstanding |
32M | 13M |
| Apr 28, 2025 |
8-K filing: Co-Diagnostics, Inc. amended its Equity Distribution Agreement with Piper Sandler to include Clear Street LLC as a sales agent; as of April 25, 2025, the Company has sold 833,806 shares under the Equity Distribution Agreement. |
30M | 14M |
| Mar 27, 2025 |
10-K filing | 30.3M shares outstanding |
30M | 14M |
| Nov 07, 2024 |
10-Q filing | 30.5M shares outstanding |
30M | 14M |
| Aug 08, 2024 |
10-Q filing | 30.1M shares outstanding |
30M | 15M |
| May 09, 2024 |
10-Q filing | 29.8M shares outstanding |
30M | 15M |
| Mar 14, 2024 |
10-K filing | 29.3M shares outstanding |
29M | 15M |
| Nov 09, 2023 |
10-Q filing | 29.4M shares outstanding |
29M | 15M |
| Aug 10, 2023 |
10-Q filing | 29.1M shares outstanding |
29M | 16M |
| May 11, 2023 |
10-Q filing | 29.5M shares outstanding |
29M | 15M |
| Mar 16, 2023 |
10-K filing | 31.5M shares outstanding |
31M | 13M |
| Mar 16, 2023 |
S-3 filing: The filing is an S-3 form for a mixed shelf offering of up to $150,000,000 in various securities, including common stock, preferred stock, debt securities, warrants, units and rights. Also includes an ATM offering of common stock up to $50,000,000. |
31M | 14M |
| Nov 10, 2022 |
10-Q filing | 31.3M shares outstanding |
31M | 0 |
| Aug 11, 2022 |
10-Q filing | 32.5M shares outstanding |
32M | 0 |
| May 12, 2022 |
10-Q filing | 33.9M shares outstanding |
34M | 0 |
| Mar 24, 2022 |
10-K filing | 34.0M shares outstanding |
34M | 0 |
| Dec 23, 2021 |
8-K filing: Co-Diagnostics, Inc. entered into agreements to merge with Idaho Molecular, Inc. and Advanced Conceptions, Inc., issuing shares of CODX common stock and warrants as consideration, subject to certain conditions and caps. |
29M | 0 |
| Nov 12, 2021 |
10-Q filing | 28.9M shares outstanding |
29M | 0 |
| Aug 12, 2021 |
10-Q filing | 28.8M shares outstanding |
29M | 0 |
| May 13, 2021 |
10-Q filing | 28.7M shares outstanding |
29M | 0 |
| Mar 25, 2021 |
10-K filing | 28.0M shares outstanding |
28M | 0 |
| Nov 16, 2020 |
10-Q filing | 27.6M shares outstanding |
28M | 0 |
| Oct 23, 2020 |
S-3 filing: The Registrant is registering an indeterminate aggregate principal amount and number of securities of each identified class of securities up to a proposed aggregate offering price of $100,000,000, which may be offered from time to time in unspecified numbers and at indeterminate prices, and as may be issuable upon conversion, redemption, repurchase, exchange, or exercise of any securities registered hereunder, including under any applicable anti-dilution provisions. |
28M | 0 |
| Aug 13, 2020 |
10-Q filing | 27.6M shares outstanding |
28M | 0 |
| May 14, 2020 |
10-Q filing | 27.5M shares outstanding |
27M | 0 |
| Mar 30, 2020 |
10-K filing | 12.9M shares outstanding |
13M | 0 |
| Feb 27, 2020 |
8-K filing: Co-Diagnostics, Inc. entered into Securities Purchase Agreements with certain institutional investors for the sale of 470,000 shares of common stock at $9.00 per share, with gross proceeds expected to be approximately $4,230,000. ($4.23M proceeds) |
N/A | 0 |
| Feb 19, 2020 |
8-K filing: The Company closed its previously announced registered direct offering of 3,324,676 shares of its common stock at a purchase price per share of $3.08, for gross proceeds of approximately $10.2 million. ($10.2M proceeds) |
N/A | 0 |
| Feb 11, 2020 |
8-K filing: Co-Diagnostics, Inc. entered into Securities Purchase Agreements with certain institutional investors for the sale of 3,324,676 shares of common stock at a purchase price of $3.08 per share in a registered direct offering, with aggregate gross proceeds expected to be approximately $10.24 million. ($10.24M proceeds) |
N/A | 0 |
| Jan 27, 2020 |
8-K filing: Co-Diagnostics, Inc. entered into Securities Purchase Agreements for the sale of 3,448,278 shares of common stock at $1.45 per share in a registered direct offering, with gross proceeds expected to be approximately $5,000,000. ($5.0M proceeds) |
N/A | 0 |