SPECIAL REPORT The Top 7 Stocks for 2024

DNA Stock Alert: The $18 Milion Reason Ginkgo Bioworks Is Up Today

Advertisement

  • Ginkgo Bioworks (DNA) stock is rising alongside a government contract.
  • That contract is worth $18 million over a period of four years.
  • The contract has it working to manufacture complex therapeutic proteins.
DNA Stock - DNA Stock Alert: The $18 Milion Reason Ginkgo Bioworks Is Up Today

Source: Connect world / Shutterstock.com

Ginkgo Bioworks (NYSE:DNA) stock is rising higher on Wednesday after the company won a contract from the Defense Advanced Research Projects Agency (DARPA).

This contract is worth $18 million over a four-year period and has Ginkgo Bioworks joining DARPA’s Reimagining Protein Manufacturing (RPM) project. This will see DNA focus on developing ways to manufacture complex therapeutic proteins.

Specifically, DARPA wants on-demand protein manufacturing utilizing Cell-Free Protein Synthesis (CFPS). This should allow for “rapid, high-yield, distributed production of human therapeutic proteins” that can be used for national security objectives.

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

“There is growing recognition that pharmaceutical supply chains are at risk. One way to meet this challenge is distributed manufacturing at the point of care. Imagine a future where drugs, including complex biologics, are produced locally or in a widely distributed manner on-demand. We’re very excited to be working with DARPA to make that future a reality.”

How This Affects DNA Stock

Ginkgo Bioworks securing an $18 million contract over a four-year period is exciting investors. It shows the company’s research is valued by a government agency seeking its aid. That’s increasing morale among traders and helps explain why the stock is up today.

DNA stock is up 4.7% as of Wednesday morning.

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

We have all of the hottest stock market coverage that traders need to know about on Wednesday! Among that is what’s moving shares of Aqua Metals (NASDAQ:AQMS) stock, Sono (NASDAQ:SEV) stock, and Deep Medicine Acquisition (NASDAQ:DMAQ) stock today. All of that news is available at the following links!

More Wednesday Stock Market News

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-the-18-milion-reason-ginkgo-bioworks-is-up-today/.

©2024 InvestorPlace Media, LLC