“The biotech company’s shares are soaring after the company announced it has launched analytical validation testing of its PCR-based diagnostic test for the monkeypox virus. The test will be developed as a type of New York State Department of Health (NYSDOH) Laboratory Developed Test (LDT). If validated, Applied DNA Sciences will submit its findings to the NYSDOH for approval and use in detecting monkeypox.”
This article was posted and the stock took off in after hours…2 days ago. Posting here if anyone in TF needs a reference to what is going on with it. The article lists other tickers pumping on monkeypox news (or getting pumped).
APDN announced an offering of shares and warrants this morning right before market opened.
Several people on TF were playing and discussing. This thread is meant to capture some of that information if people continue to play up to the test kit approval.
HC Wainwright & Co. Maintains Buy on Applied DNA Sciences, Raises Price Target to $8
By Benzinga
— 8:40 AM ET 08/08/22
HC Wainwright & Co. analyst Yi Chen maintains Applied DNA Sciences (NASDAQ:APDN) with a Buy and raises the price target from $4 to $8.
Applied DNA Sciences Closes $12 Million Upsized Public Offering; Shares Sink
By MT Newswires
— 1:41 PM ET 08/08/22
01:41 PM EDT, 08/08/2022 (MT Newswires) – Applied DNA Sciences (APDN.NaE) said Monday that it closed a public offering of 3 million shares, together with series A warrants to purchase up to 3 million shares and series B warrants to purchase up to 3 million shares, at an offering price of $4 per share.
The gross proceeds were $12 million, the company said.
The series A warrants have an exercise price of $4 apiece, are exercisable immediately upon issuance, and expire five years following the date of issuance.
The series B warrants have an exercise price of $4 apiece, are exercisable immediately upon issuance and expire thirteen months following the date of issuance.
I haven’t been watching this ticker as much as I probably should. Looks like there is support at $3 from earlier. Will watch to see if uptrend continues today.
