In Wednesday’s trading session, Applied DNA Sciences Inc. (NASDAQ: APDN) gained 13.20%, which is $0.96 higher than the previous market close price. In the trading session, the lowest point for the Applied DNA stock was $7.90, while the highest price was recorded at a share price of $9.96.
In the previous session, APDN stock closed at $7.27, according to Barchart, while $9.32 million worth of shares were traded. The APDN stock soared after Applied DNA signed a collaboration agreement for COVID-based research.
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What was the collaboration?
Its proprietary, large-scale PCR-based manufacturing platform will allow Applied DNA to manufacture specific DNA sequences on a large scale, enabling the commercialization of LinearDNA. The LinearDNA platform has application in the diagnostics market of nucleic acid-based products, and the process of developing and manufacturing nucleic acid-based drugs.
Applied DNA and Northwell Health entered into a pro bono Material Transfer Agreement (MTA), as announced APDN yesterday.
- Northwell’s CoVID-positive specimens can now be tracked in real-time using a real-time surveillance program established by the MTA for tracking and identification of variants of concern in SARS-CoV-2.
- As of right now, two thousand samples have been analyzed for the program, while preliminary results indicate that approximately 80% of specimens tested on the Company’s qPCR assays contain a mutation.
- In the future, utilizing data generated from the Program will enable Northwell to employ less costly and time-consuming next-generation sequencing (NGS) in order to definitively identify specific VOCs and subsequent descendants.
A white paper (APDN-authored) on detecting the presence of SARS-CoV-2 will be published soon. Both parties will be able to monetize aggregate data from the Program under a revenue-share arrangement.