SeqLL (NASDAQ:SQL) stock is seeing massive gains on Tuesday after signing a new contract with a government agency.
Specifically, the company has signed a two-year Cooperative Research and Development Agreement (CRADA) with the Federal Bureau of Investigation (FBI). This will see it working with the FBI Laboratory Division on direct RNA sequencing.
The goal is to determine the forensic capabilities of direct RNA sequencing using SeqLL’s True Single Molecule Sequencing platform. The focus will be on forensic body fluid identification “without compromising traditional STR or DNA sequence analysis.”
Daniel Jones, Founder and CEO of SeqLL, said the following about the deal with the FBI:
“We are delighted to be working with a motivated and knowledgeable partner, such as the FBI LD. We appreciate the opportunity this CRADA provides, to methodically develop forensic applications utilizing SeqLL’s technology […] We look forward to demonstrating how single-molecule, PCR-free approaches are ideally suited for this space.”
SQL Stock Reactions
News of the FBI deal has shares of SQL stock seeing incredibly heavy trading today. As of this writing, more than 55 million shares have changed hands. That’s an incredible surge over the daily average trading volume of about 79,000 shares.
SQL stock is up 255.6% as of Tuesday morning.
Investors on the lookout for more of the latest stock market news are in luck!
We’ve got them covered with all of the hottest stock market happenings on Tuesday! A few examples include why shares of Baidu (NASDAQ:BIDU), Lithium Americas (NYSE:LAC) and Boeing (NYSE:BA) are in the news today. You can read up on all that news at the links below!
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On the date of publication, William White did not hold (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.
