RTTNews | Apr 7, 2021 10:25AM EDT

10:24 Wednesday, April 7, 2021 (RTTNews.com) - Shares of Applied DNA Sciences, Inc. (APDN) are surging more than 18% Wednesday morning after the company established a SARS-CoV-2 mutations and variants tracking program teaming up with Northwell Health.

The companies have entered into a pro bono Material Transfer Agreement (MTA).

As per the program, de-identified positive Covid-19 specimens supplied by Northwell are being screened for SARS-CoV-2 mutations found in currently known variants of concern (VoCs) using Applied DNA's Linea Covid-19 Assay Kit and Selective Genomic Surveillance Mutation Panel.

Northwell believes that the data generated from the Program will help the company to efficiently use costly and time-consuming next-generation sequencing (NGS) required to identify specific VoCs and their subsequent descendants.

"The Applied DNA Sciences approach permits rapid and inexpensive identification of mutations that are concerning in the clinical community, such as the E484K and L452R mutations which may confer resistance to some therapies or specific antibodies," said Dr. Dwayne Allen Breining, executive director of Northwell Health Labs.

APDN, currently at $8.58, has been trading in the range of $3.61- $16.39 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3183145/stock-alert-applied-dna-sciences-jumps-18-following-deal-with-northwell.aspx)

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