Aptorum Group Ltd. (NASDAQ: APM) shares absolutely exploded on Tuesday after the company announced that it would be launching a subsidiary focused on novel technologies targeting infectious diseases. Although this company isn’t a household name, it was catching a lot of attention Tuesday.
The subsidiary being launched is Aptorum Innovations, which is an infectious disease liquid biopsy firm. It is being established with exclusive in-licensing arrangements with Accelerate Technologies, which is the commercial arm of Singapore’s Agency for Science, Technology and Research.
The firm seeks to co-develop novel molecular-based rapid pathogen identification and detection diagnostics (RPIDD) technology.
The goal here is targeting the global molecular diagnostics market, which is estimated to reach roughly $13.8 billion by 2025. Also, 60% of this market is estimated to be attributable to the infectious disease segment with RPIDD technology.
The RPIDD technology was initiated and currently under development at Accelerate. The core objectives of RPIDD are to rapidly and accurately identify and detect existing or emerging unknown pathogens, in a cost-effective, unbiased and broad-spectrum manner, through liquid biopsy, genome sequencing and artificial intelligence driven software analytics.
A key objective is also to develop RPIDD to leverage existing and emerging Next-Generation Sequencing platforms for pathogenic genome sequencing analysis.
For those late to the party, a liquid biopsy is basically a non-tissue medical test, in this case it is evaluating blood samples.
Excluding Tuesday’s move, Aptorum stock had vastly underperformed the broad markets with a pullback of about 92% year to date. Over the past 52 weeks, this number was relatively the same.
Aptorum stock traded up over 675% on Tuesday, at $9.50 in a 52-week range of $1.16 to $18.25. The consensus price target is $13.00.
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