Why Applied DNA Sciences Stock Is Soaring Today

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Applied DNA Sciences Inc APDN shares are soaring Monday after the company announced it received its largest single purchase order for LinearDNA to date.

LinearDNA is produced using an enzymatic manufacturing platform that eliminates the use of fermenters and bacteria required by plasmid DNA. Applied DNA Sciences said the order is valued "above the mid-six-figures."

The order was placed under a long-standing supply agreement for a global manufacturer of in vitro diagnostics. Under the terms of the repeat order, the company will deliver quantities of LinearDNA to the customer in the current quarter, with the full order expected to be fulfilled over the next three quarters.

"Our proprietary enzymatic approach to manufacturing DNA via PCR underpins our ability to produce DNA more efficiently and rapidly relative to other DNA production methods and at scale," said James Hayward, president and CEO of Applied DNA Sciences.

Applied DNA is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid (DNA).

See Also: Moderna, Eli Lilly And This Biotechnology Stock Insiders Are Selling

APDN Price Action: Applied DNA Sciences has a 52-week high of $7.35 and a 52-week low of 62 cents.

The stock was up 78.2% at $2.21 at time of publication, according to Benzinga Pro.

Photo: LaCasadeGoethe from Pixabay.

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