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Codex DNA, Inc. (DNAY) Stock Flying High in Aftermarket Despite any Clear Reason

Codex DNA, Inc. (DNAY) is a biotechnology company primarily focusing on development and commercialization of synthetic biotech tools, reagents and other products related to academic and pharmaceutical industries. The company is a pioneer in inventing novel Gibson Assembly protocol and the first commercial automatic DNA and mRNA synthesis system. Another product of the company is BioXp program which optimizes the synthesis, cloning, and amplification of DNA/RNA rapidly and error-free.

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The price of DNAY stock during the regular trading on December 30, 2021 with 17.68% increase was $10.98. At last check in the aftermarket, the price of stock further surged by 7.38%.

DNAY: Events and Happenings

On December 23, 2021, DNAY reported about releasing a full-length artificial genome of the Omicron variant of COVID-19 virus. The genome was constructed using the company’s BioXp 3250 program.

On November 29, 2021, DNAY reported about the public unveiling of BioXp mRNA synthesis kits with CleanCap Reagent AG. The new automated kits allowed customers to produce large quantity of best-quality, capped mRNA. This will result in acceleration of the process of discovery and development of mRNA-based treatments. On November 11, 2021, DNAY reported that the company’s executives presented at the Virtual 12th Annual Jefferies London Healthcare Conference held on November 18.

DNAY: Key Financials

On November 09, 2021, DNAY announced its financial results for the third quarter ended September 30, 2021. Some of the important highlights are as follows

Revenue

Revenue of the company increased 70% over the year period. Revenue for the third quarter 2021was reported to be $2.8 million as compared to the same period in the prior year when it was $1.6 million.

Net Loss per Share

Basic and diluted net loss per share was $9.8 or $0.34 per share as compared to the same period in the prior year when it was $4.5 million or $0.89 per share.

Assets

The total assets of the company for Q3 2021 were $124 million.

On November 09, 2021, DNAY reported about agreement of acquisition of Eton Bioscience which provides synthetic biology products and services.

DNAY: CEO Comments

On this occasion Todd R. Nelson CEO of DNAY said that this partnership will be helpful in acceleration of BioXp’s growth policy in synthetic biotech market. He further added that the acquisition will also support enzymatic DNA synthesis product manufacture program.

Conclusion

The company’s stock is flying high from the past month as a 60% rise was observed in the stock price. The latest aftermarket incline is due to uncertain market conditions for the company. As the stockholders and investors are putting their trust in the company’s strategies, the analysts are of the view that the current surge will open doors for more investments in the company.

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