Applied DNA Sciences Skyrockets 158% on Successful DNA Tagging of Leather

11:29AM ET 11/12/2019 MT Newswires
Applied DNA Sciences (APDN) shares skyrocketed 158% in intraday trading Tuesday after the company said it was able to successfully apply DNA tagging on leather.

In a statement, the company said that the successful DNA tagging carried out in Asia at one of the world's tanneries in the region focused on tagging suede and various polyurethane leather finishes in different colors.

Applied DNA developed its CertainT system for marking leather through the leather value chain using a DNA tag.

Such a technology helps protect leather products, brands, entire supply chains, and consumers from theft, counterfeiting, fraud and diversion.

Traceability is also crucial to back up claims of sustainability or the humane treatment of the animals, the statement said.

Price: 11.37, Change: +6.97, Percent Change: +158.41