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.
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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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