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Ginkgo Bioworks stock pops as company plans Merck collaboration

Dow Jones2023-08-07

MW Ginkgo Bioworks stock pops as company plans Merck collaboration

Ginkgo Bioworks Holdings Inc. shares $(DNA.AU)$ were rising more than 5% in Monday's premarket trading after the company said it was collaborating with Merck & Co. Inc. $(MRK)$ on improvements in biologic manufacturing. Ginkgo plans to use its abilities in cell engineering, ultra high-throughput multiplexed screening, protein characterization and process optimization to boost yields and drive improvements in production efficiency. The company is eligible to rake in an aggregate total of $490 million in upfront research fees, research milestone fees, option license payments and commercial milestone payments, according to its release.

-Emily Bary

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August 07, 2023 07:24 ET (11:24 GMT)

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