Stock Alert: Applied DNA Sciences Stock Up 22% In Premarket

(RTTNews) - Shares of Applied DNA Sciences Inc. (APDN) are soaring over 22% in pre-market today, after the company announced an agreement with Stony Brook University Hospital to validate and implement the company's patent-pending nucleic acid diagnostic (LineaCOVID-19) to detect and quantify in diagnostic samples the presence of SARS-CoV-2, the virus that causes the disease, COVID-19.

Validation is expected to begin immediately with results to be used to support the company's application to the U.S. FDA before the end of April 2020 for Emergency Use Authorization or EUA, the company said.

The stock has been trading in the range of $2.52 - $33.60 for the past one year, and closed Monday's trade at $5.43, down 7 cents or 1.27%. APDN is currently trading at $6.66, up $1.23 or 22.65% in the pre-market trading session.