Applied DNA Sciences, Inc. (NASDAQ: APDN) shares are trading higher after the company announced it has received FDA emergency use authorization for its coronavirus diagnostic assay kit.
Dr. Mohan Chellani, Director of Diagnostic Regulatory Affairs at Applied DNA stated, "We believe we have developed an assay with numerous commercial advantages over other EUA approved COVID-19 detections assays. We developed the Linea™ COVID-19 assay kit for high-throughput operations where rapid high-volume testing is requisite."
Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping, diagnostics, and pre-clinical nucleic acid-based therapeutic drug candidates.
Applied DNA Sciences was up 64% at $14.58 per share at time of publication on Thursday. The company has a 52-week high of $27.20 and a 52-week low of $2.52.