Why Codex DNA Shares Are Trading Higher Today?

Pfizer Inc PFE has signed on two partners in an effort to become an mRNA powerhouse.

• Pfizer will offer milestone payments of over $100 million to Codex DNA Inc DNAY for access to the biotech's novel enzymatic DNA synthesis technology in the first deal. 
• The agreement will similarly be used to develop new mRNA vaccines and therapeutics. 
• The financial terms, which were not spelled out, include an upfront payment and the milestones, which Codex said: "could be earned in the near term."
• Codex has developed a short oligo ligation assembly (SOLA) EDS technology, which provides a scalable, efficient, and cost-effective approach to research. 
• SOLA EDS can construct synthetic DNA, RNA, and proteins to develop new mRNA-based medicines and vaccines.
• Pfizer has secured access to Acuitas Therapeutics' lipid nanoparticle delivery system in mRNA vaccines and therapeutics in the second deal. 
• The nonexclusive option agreement covers up to 10 targets. The financial terms were not disclosed.
• Lipid nanoparticles are critical to protecting mRNA. This technology was used in both authorized mRNA COVID-19 vaccines, with Acuitas' proprietary delivery system specifically tapped for the Pfizer-BioNTech SE BNTX shot.
• Price Action: DNAY shares are up 11.60% at $10.46 during the premarket session on the last check Monday.