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Benzinga
Benzinga
Business
Henry Khederian

Why Ginkgo Bioworks Shares Are Rising After Announcement With Partner Cronos Group

Ginkgo Bioworks Holdings Inc (NYSE:DNA) shares are trading higher by 7.63% to $2.68 after the company, and Cronos Group Inc (NASDAQ:CRON), announced the achievement of the third target productivity milestone in their partnership to produce eight cultured cannabinoids.

Using Ginkgo's platform for organism design and development, Cronos says the company has successfully achieved the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid hypothesized to reduce the appetite-enhancing property of THC.

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