Greenlight Biosciences (GRNA) Stock: Why It Surged Over 60% Today

By Amit Chowdhry ● Aug 4, 2022
  • The stock price of Greenlight Biosciences (GRNA) surged by over 60% during intraday trading today. This is why.

The stock price of Greenlight Biosciences (GRNA) surged by over 60% during intraday trading today. This is a continuation of momentum as the stock price has increased over 150% this past week.

Earlier this week, GreenLight Biosciences and Samsung Biologics announced the successful completion of the first commercial-scale engineering run for the companies’ mRNA production partnership. Since the announcement of the strategic partnership between GreenLight Biosciences and Samsung Biologics in late 2021, the technology transfer and scale-up from the lab bench to Samsung’s commercial facility were completed in seven months, demonstrating platform adaptability and scalability.

GreenLight’s process — from drug substance and lipid nanoparticle formulation to bulk drug product — can be completed in the same facility, an important capability. And GreenLight’s mRNA synthesis reaction had a titer of 12g/L at a commercial scale and produced 650g of mRNA.

The company’s RNA platform allowed GreenLight to move from conceptualizing an mRNA vaccine to delivering released clinical trial material in less than 2 years. And with the demonstration at Samsung, and with GreenLight’s Covid booster vaccine clinical trial expected to start in 2022, GreenLight would be capable of supplying mRNA vaccine at a commercial scale.

Earlier this year, Samsung Biologics completed the expansion of its mRNA drug substance manufacturing suite at its Songdo headquarters, where the company is now fully equipped to provide end-to-end mRNA production for clients.

To date, all comparability data conforms with expected outcomes – which indicates successful scale up and fit of GreenLight’s process to Samsung Biologics’ Songdo facility. And a second engineering run will start in August, to implement improvements indicated by the first run and to demonstrate repeatability at scale.

KEY QUOTES:

“This demonstrates a major achievement in our continuing goal to offer one-stop end-to-end mRNA production from Drug Substance to Aseptic Fill Finish to commercial release, all from a single site, as we strive across our biomanufacturing network to fight the pandemic.” 

— John Rim, CEO and President at Samsung Biologics

“One of the greatest challenges when producing quality pharmaceuticals is advancing from a small lab to large-scale commercial production. We are grateful for the help and support of Samsung in demonstrating that our small mRNA process can scale in a linear fashion to the industrial scale that will be needed to help satisfy the vaccine needs of humanity.”

— GreenLight CEO Andrey Zarur