Ginkgo Bioworks (NYSE:DNA) stock is rising higher on Wednesday after the company won a contract from the Defense Advanced Research Projects Agency (DARPA).
This contract is worth $18 million over a four-year period and has Ginkgo Bioworks joining DARPA’s Reimagining Protein Manufacturing (RPM) project. This will see DNA focus on developing ways to manufacture complex therapeutic proteins.
Specifically, DARPA wants on-demand protein manufacturing utilizing Cell-Free Protein Synthesis (CFPS). This should allow for “rapid, high-yield, distributed production of human therapeutic proteins,” that can be used for national security objectives.
Jason Kelly, co-founder and CEO of Ginkgo Bioworks, said the following about the news.
“There is growing recognition that pharmaceutical supply chains are at risk. One way to meet this challenge is distributed manufacturing at the point of care. Imagine a future where drugs, including complex biologics, are produced locally or in a widely distributed manner on-demand. We’re very excited to be working with DARPA to make that future a reality.”
How This Affects DNA Stock
Ginkgo Bioworks securing an $18 million contract over a four-year period is exciting investors. It shows the company’s research is valued with a government agency seeking its aid. That’s increasing morale among traders and helps explain why the stock up today.
DNA stock is up 4.7% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
