Why Co-Diagnostics Stock Is Skyrocketing Today

Shares of Co-Diagnostics (NASDAQ: CODX) were skyrocketing 35.4% higher as of 11:19 a.m. EDT on Tuesday. The big gain came after the company announced that it had entered into an agreement with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to expand Arches' use of Co-Diagnostics' Logix Smart COVID-19 test. 

No financial details of the agreement between Co-Diagnostics and Arches Research were announced. So why did Co-Diagnostics' shares jump so much higher?

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Source Fool.com