Ginkgo Bioworks (DNA) Stock Price: Why It Increased 3.46% Today

By Amit Chowdhry ● Jun 7, 2022
  • The stock price of Ginkgo Bioworks (NYSE: DNA) increased by 3.46% today. This is why.

The stock price of Ginkgo Bioworks (NYSE: DNA) – the leading horizontal platform for cell programming – increased by 3.46% today. Investors are responding positively to Ginkgo Bioworks announcing a collaboration with Novo Nordisk, a leading global healthcare company, to create novel expression hosts for pharmaceutical products.

Hundreds of millions of people are living with diabetes, obesity, and other serious chronic diseases, which are putting a strain on individuals, families, and healthcare systems. And more effective medicines could improve treatment options for these people. Using synthetic biology, Ginkgo and Novo Nordisk will collaborate to unlock the potential of expression systems, which may accelerate and enhance the discovery and development of Novo Nordisk’s biological medicines.

Under the terms of the partnership, Ginkgo and Novo Nordisk will launch a multi-year collaboration. And Ginkgo will receive an upfront R&D fee and is eligible to receive milestone payments as the parties advance in the collaboration.

KEY QUOTES:

“Novo Nordisk is constantly pushing the boundaries for innovative tools to bring new treatments to people living with diabetes and other serious chronic diseases. Using synthetic biology and the reprogramming of expression system genomes, we have the potential to engineer biological systems that will expand the chemical space of biological medicines.”

— Brian Vandahl, Senior Vice President, Global Research Technologies, Novo Nordisk

“It’s an honor to work with partners like Novo Nordisk that not only have an incredible range of critically important products, but that also provide us with the opportunity to do meaningful work that could help so many patients. At Ginkgo, we are always on the lookout for projects that will have an outsized impact on people’s lives and well-being. We’re excited to be working with Novo Nordisk in our efforts to use biology to create better medicines for patients with chronic diseases.”

— Jason Kelly, CEO and cofounder of Ginkgo Bioworks

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.