Why Applied DNA Sciences Is Up 80% Today

Applied DNA Sciences (NASDAQ: APDN) shares are trading higher after the company published a press release highlighting the FDA's findings on sensitivities in specific COVID-19 tests. The company says its' Linea COVID-19 Assay Kit is '1 of Only 2 EUA-Authorized Tests Able to Detect S-Gene Mutation Found in SARS-CoV-2 U.K. Variant (B.1.1.7).'

Applied DNA Sciences is a provider of DNA-based supply chain, anti-counterfeiting, and anti-theft technology. The company provides its products and services under the brand of SigNature DNA, SigNature T DNA, fiberTyping, DNAnet, digitalDNA, SigNify and Beacon.

Applied DNA Sciences shares were trading up 80% to $10.33 at publication time. The stock has a 52-week high of $16.39 and a 52-week low of $2.52.