Benzinga | Nov 12, 2020 03:48PM EST

Why Akers Biosciences Stock Is Trading Higher Today

Akers Biosciences (NASDAQ:AKER) shares are trading higher on Thursday after the company and MyMD Pharmaceuticals signed a definitive merger agreement.

Akers Biosciences Inc is engaged in developing, manufacturing and supplying rapid, point-of-care screening and testing products designed to bring health-related information directly to the patient or clinician in a time- and cost-efficient manner. The pipeline products of the company focus on delivering diagnostic assistance in a variety of healthcare fields/specialties, including cardiology/emergency medicine, metabolism/nutrition, diabetes, respiratory diseases and infectious disease detection. The majority of the company's revenue comes from the United States.

Akers Biosciences shares traded up 29.72% at $2.23 on Thursday during the time of publication. The stock has a 52-week high of $8.85 and a 52-week low of $1.55.