Why Is Diagnostic Tests Provider Applied DNA Sciences Stock Trading Higher On Friday?
Portfolio Pulse from Vandana Singh
Applied DNA Sciences, Inc. (NASDAQ:APDN) stock surged on Friday due to high trading volume and the submission of a validation package to expand its Linea Mpox Virus 1.0 Assay. The expansion aims to include mpox clade I and clade II, pending approval from the New York State Department of Health. The stock's rise is also influenced by the WHO's declaration of a public health emergency over mpox.
August 23, 2024 | 5:19 pm
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Applied DNA Sciences' stock rose significantly due to the submission of a validation package to expand its mpox assay, coupled with increased market interest following a WHO public health emergency declaration.
The stock price increase is driven by the potential expansion of the company's assay to include mpox clade I, which could enhance its market position. The WHO's emergency declaration has also heightened interest in mpox-related stocks.
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