Ginkgo Bioworks Holdings Inc DNA shares are trading higher by 7.63% to $2.68 after the company, and Cronos Group Inc CRON, announced the achievement of the third target productivity milestone in their partnership to produce eight cultured cannabinoids.
Using Ginkgo's platform for organism design and development, Cronos says the company has successfully achieved the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid hypothesized to reduce the appetite-enhancing property of THC.
Cronos added that, launched in 2018 with the goal of accessing rare molecules in the cannabis plant to create innovative and differentiated products that would otherwise be cost-prohibitive, the partnership between Cronos and Ginkgo aims to produce cultured cannabinoids at an industrial scale.
See Also: So Does Tesla Or Lucid Make The Cooler-Looking Electric Vehicle? Over 60% Say...
Ginkgo Bioworks is building a platform to enable customers to program cells as easy to program computers.
According to data from Benzinga Pro, Ginkgo Bioworks has a 52-week high of $15.86 and a 52-week low of $2.09.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Top Cannabis Event In New Jersey
Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off!