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Ginkgo Bioworks Holdings, Inc. (DNA) Stock is Falling Today, Here’s why

Ginkgo Bioworks Holdings, Inc. (DNA) is innovating the field of cell programming for the biological manufacture of different products including pharmaceutical products, food, agriculture-related products, and petroleum products. The company also supports COVID-19 response efforts including testing, vaccine production, and treatment discovery.

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The price of DNA stock during the regular trading on January 11, 2022, was $6.83 with a slight rise of 1.71%. At last check in the current market on January 12, 2022, the stock was down by2.05%%.

DNA: Events and Happenings

On January 12, 2022, DNA reported about its initial performance details for the year ended December 31, 2021. The company expected to meet or surpass its important full-year 2021 goals for starting new cell programs and revenue from its cell programming and biosecurity offering based on its initial estimations.

On January 10, 2022, DNA reported about the adoption of the Onyx genome engineering program. The company’s investment is aimed at performance outgrowth and metabolic and protein engineering workflow productivity.

On January 10, 2022, DNA reported about its entry into a partnership with Selecta Biosciences, Inc. for the development of safe and effective gene therapy viral capsids with enhanced transduction, improved tissue tropism and less immunogenicity. On January 6, 2022, DNA reported about its entry into a collaboration with Optimvia to expand the production efficiency of an essential medicine known as biosynthetic heparin which is manufactured from industrial animal agriculture.

On January 5, 2022, DNA reported that the company’s Executives will present at the 40th Annual J.P. Morgan Healthcare Conference being held on January 12, 2022. On December 20, 2021, DNA reported about its entry into a collaboration with Benjamin Franklin Institute of Technology for the development of an associate degree in biotech manufacturing.

On December 18, 2021, DNA reported about the confirmation of collection, identification, and sequencing of three samples containing Omicron variant of a SARS-CoV-2 from passengers on flights.

DNA: Key Financials

On November 15, 2021, DNA reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows

Revenue

Total revenue of third-quarter 2021 was $77.6 million as compared to the same period prior year when it was $13.3 million.

Net Loss per Share

Basic and diluted net loss per share for Q3 2021 was $102.4 million or $0.08 per share compared with the same period prior year when it was $26.1 million or $0.02 per share.

Conclusion

DNA stock is 32%down the past month which can be attributed to the downfall of the economic conditions due to the prevailing pandemic situation. the company showed a positive output in the stock price in current premarket hours which is attributed to the recent announcement of 2021 revenue highlights. The analysts are hoping for a great year ahead for the company in view of the current scenario.

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