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DNA Stock Alert: Ginkgo Bioworks Moves Forward With Novo Nordisk Partnership

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  • Ginkgo Bioworks (DNA) stock is climbing on a continued partnership with Novo Nordisk (NVO).
  • The two companies completed a pilot program together.
  • This will see them work on the development of expression systems for pharmaceutical products.
DNA Stock - DNA Stock Alert: Ginkgo Bioworks Moves Forward With Novo Nordisk Partnership

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Ginkgo Bioworks (NYSE:DNA) stock is on the move Tuesday after the company announced a continued partnership with Novo Nordisk (NYSE:NVO).

These two companies have been working together on the development of expression systems for pharmaceutical products. The pilot phase of that collaboration is complete and achieved its first milestone of extensive modification and testing of a microbial expression system.

With that success, the two companies will continue worth together in the development phase. This will see them combine their resources in an effort to create a more effective production process.

Jason Kelly, CEO and co-founder of Ginkgo Bioworks, said the following about the news:

“The next phase of this project will build on our existing microbial design, engineering, and phenotyping expertise while expanding Ginkgo’s capabilities in genome-scale design and engineering. We believe this work will enable us to support even more pharmaceutical products, helping to achieve better outcomes for patients.”

How This Affects DNA Stock Today

DNA stock isn’t seeing as much movement as might be expected from today’s announcements. Only about 4 million shares have changed hands, as compared to a daily average trading volume of around 21 million shares. This could be due to traders waiting for further results in development before further investing in the company.

DNA stock is up 1.4% as of Tuesday morning.

Investors seeking out even more of the most recent stock market news will want to stick around!

We have breakdowns of all the biggest stock market stories traders need to know about on Tuesday! A few examples of these include why shares of Cava (NYSE:CAVA) stock, Zillow (NASDAQ:Z) stock, and Iovance Biotherapeutics (NASDAQ:IOVA) stock are in the news today. You can catch up on all of these matters at the links below!

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/07/dna-stock-alert-ginkgo-bioworks-moves-forward-with-novo-nordisk-partnership/.

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