Ginkgo Bioworks shares are trading higher after the company announced a Ginkgo-led team was awarded funding from the U.S. DOE to develop algal crop protection solutions. Also, Greenlab announced a new partnership with the company related to PFAS. Additionally, the company announced its subsidiary, FGen AG, was awarded funding through the EIC's Pathfinder Challenge program.
Portfolio Pulse from Benzinga Newsdesk
Ginkgo Bioworks' stock is up following three positive announcements: a Ginkgo-led team received funding from the U.S. Department of Energy (DOE) for algal crop protection solutions, Greenlab formed a new partnership with Ginkgo for PFAS-related work, and Ginkgo's subsidiary FGen AG secured funding through the European Innovation Council's (EIC) Pathfinder Challenge program.
December 19, 2023 | 5:10 pm
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POSITIVE IMPACT
Ginkgo Bioworks' stock is likely to experience a short-term positive impact due to a series of favorable developments including DOE funding, a new partnership with Greenlab, and EIC funding for its subsidiary.
The accumulation of positive news, including government funding and a new partnership, directly involves Ginkgo Bioworks and its subsidiary, which can be expected to boost investor confidence and potentially lead to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100