Stock in Applied DNA Sciences (NASDAQ: APDN) rallied 26.2% in Monday’s premarket trading after the company announced its modified Covid-19 strategy. In wake of recent news, pharmaceutical companies are turning their heads towards the latest development in the pandemic saga – the omicron variant. Threatening to shutdown economies once again, investors flocked to stocks like APDN this morning after companies start to release their strategies.
In the announcement, the manufacturer of PCR-based technologies unveiled plans to release a Linea 2.0 COVID-19 Assay, a new RT-PCR assay for E and N genes of SARS-CoV-2. This will be a further release following Linea 1.0, adapting with the mutations of the virus whilst accommodating shareholder interest in the process, who will no doubt be concerned.
Dr. James A Hayward, Applied DNA CEO and President points out the importance of adapting to virus mutations:
“Viruses evolve; it is in their nature. The potential need to evolve the Linea Assay 1.0 assay was anticipated and spurred the side-by-side development of our Linea SARS-CoV-2 Mutation Panel and the Linea 2.0 Assay to utilize the same testing workflows established for the Linea 1.0 Assay that brought high specificity, high sensitivity, and rapid time to results for population-scale testing
Adding…
“While viruses may evolve, ours is an unwavering commitment to providing gold-standard PCR-testing to meet the need for COVID-19 testing.”
Applied DNA had an impressive start to 2021, but January’s surge failed didn’t last long, and the competitive nature of the current pharmaceuticals climate played its part. With the new variant sparking interest once again, it’s worth keeping an eye on this sector. APDN stock is currently showing a premarket gain of 20.5%, trading at $6.39
Is Now a Good Time to Invest In APDN Shares?
Healthcare stocks, including Applied DNA shares, saw a wave of investors buy their shares during the pandemic. Governments also pumped money into the companies in an attempt to speed up the vaccine process. But, what happens now vaccines have been approved and the pandemic is becoming less prominent? Should we still invest in coronavirus-focused healthcare stocks? Or should we look to firms tackling other areas? Here are the best healthcare stocks to buy now…
