Why Applied DNA Sciences Stock Is Soaring

Applied DNA Sciences Inc APDN shares are soaring Tuesday after the company initiated validation of its PCR-based monkeypox virus test.

Upon successful validation, the company said a validation package will be submitted to the New York State Department of Health for approval. The test will be used to power monkeypox testing services if it is approved. 

Applied DNA Sciences' monkeypox test utilizes an A17L gene-target specific to monkeypox that enables the qualitative detection and differentiation of monkeypox virus from other non-variola orthopoxviruses using real-time PCR. 

"Based on our experience with the COVID-19 pandemic, we are keenly aware of the crucial role PCR-based diagnostic tools can play in responding and helping to control public health outbreaks," said Dr. James Hayward, president and CEO of Applied DNA Sciences.

New York City officials declared monkeypox a public health emergency over the weekend, calling the city the "epicenter of the outbreak." According to an update from WHO on Twitter last week, more than 18,000 monkeypox cases have been reported from 78 countries.

From Last Week: EXCLUSIVE: SIGA Technologies CEO Says Company Is Prepared To Respond To Monkeypox Outbreak With TPOXX Stockpile Upon Approval

APDN Price Action: Applied DNA Sciences was halted for volatility several times Tuesday morning.

The stock was up 218.7% at $2.17 at press time, according to data from Benzinga Pro.

Photo: NIAID from Flickr.