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Biotech Firm Confirms 100% Accuracy of COVID-19 Mutation Assays

Source: Streetwise Reports

 

June 3, 2021 (Investorideas.com Newswire) Applied DNA Sciences' SARS-CoV-2 mutation panel and its validation are discussed in a ROTH Capital Partners report.


In a May 26 research note, ROTH Capital Partners analyst Jonathan Aschoff reported that Applied DNA Sciences Inc. (APDN:NASDAQ) technically validated, through testing, its seven COVID-19 mutation detection assays that comprise its Linea Selective Genomic Surveillance (SGS) SARS-CoV-2 Mutation Panel.

Aschoff described the validation process and provided the results.

Applied DNA tested more than 1,000 SARS-CoV-2-positive samples using its high throughput SGS assays. Then it conducted whole genome sequencing (WGS) on each of the samples. Then, to determine accuracy of all seven assays, the company compared the results of both methods.

"The accuracy was impressive, showing 100% concordance with WGS performed on the same samples," Aschoff wrote.

The analyst noted that the concerning L452R and E484K mutations are among those that Applied DNA's assays can detect. Most current Centers for Disease Control and Prevention-designated variants of concern contain one or both of these mutations, and the two can hamper the efficacy of certain emergency use authorization antibody treatments.

Aschoff pointed out that the U.S. desperately needs a better method than WGS for rapid mutation identification, and Applied DNA's mutation panel can meet it.

"The broad mutant coverage of the SGS assay can be expanded as new concerning mutants arise, thereby avoiding the wasting of sequencing reagents by focusing their use on confirming actual variants rather than also being used to screen viruses of unknown genotype," he wrote.

In fact, the molecular technology firm is currently developing an assay to detect the E484Q mutation that, together with L452R, comprise the highly infectious B.1.617, or Indian, variant. Once Anixa validates the new assay, it will add it to its mutation panel.

ROTH Capital Partners has a Buy rating on Applied DNA Sciences and a target price of $24 per share. The stock is currently trading at about $5.92 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Disclosures from ROTH Capital Partners, Applied DNA Sciences, Inc., Company Note, May 26, 2021

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Disclosures:

Within the last twelve months, ROTH has received compensation for investment banking services from Applied DNA Sciences, Inc.

ROTH makes a market in shares of Applied DNA Sciences, Inc. and as such, buys and sells from customers on a principal basis.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

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