Applied DNA Sciences (NASDAQ:APDN) stock is rising higher on Friday after the company sent its monkeypox test to the NYSDOH for approval.
According to a press release, Applied DNA’s Linea Monkeypox Virus 1.0 Assay is designed to “identify the genetic signature of the Clade II variant of the monkeypox virus that is currently prevalent in the U.S.”
Applied DNA is hoping for approval that designates its monkeypox test as an NYSDOH Laboratory Developed Test (LDT). If it gets that approval, it can move forward with offering monkeypox testing services in the state.
The company has already chosen the Applied DNA Clinical Labs location in Stony Brook, N.Y. for its testing site. This is a molecular diagnostics laboratory that has already been used for its Linea 2.0 Covid-19 Assay.
Dr. James A. Hayward, president and CEO of Applied DNA, said the following in the news release:
Upon NYSDOH approval, ADCL has the testing capacity to deploy to help keep New Yorkers safe. Moreover, as the test kit manufacturer, we maximize the control over our own supply chain to ensure both quality and availability.
With that news comes heavy trading of APDN stock today. As of this writing, over 14 million shares of the stock have changed hands. That’s more than double its daily average trading volume of about 7 million shares.
APDN stock is up 9.2% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
