2023-03-29 09:41:18 ET
- Applied DNA Sciences ( NASDAQ: APDN ) stock rose ~4% after the company said it manufactured and shipped a multi-gram quantity of linearDNA in under six weeks.
- The quantity was produced by the company's LinearDNA platform under a recurring purchase order with a global manufacturer of in vitro diagnostics. The contract was announced in Q1 fiscal 2023 and is the largest single shipment of linearDNA to date, APDN noted.
- The company expects to ship a final multi-gram quantity in Q3 to fulfill the order earlier than stipulated.
- "We believe that this production milestone underscores our LinearDNA platform's capacity for the rapid, enzymatic production of DNA at very large scale that stands in stark contrast to the scalability bottlenecks and challenges associated with conventional plasmid DNA to support both high value biotherapeutic and lower price-point diagnostic applications," said Applied DNA President and CEO James Hayward.
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Applied DNA stock pops on shipping linearDNA order