Ginkgo Bioworks acquired biotechnology firm Zymergen, marking the final act in Zymergen’s dramatic and brisk fall from grace.
Shares of Zymergen rose 28.5% to $2.57 in pre-market trading Monday, while Ginkgo shares rose 2.4% to $2.99.Zymergen went public at $31 a share and reached its all-time high of $48.
50 on April 29, 2021, valuing the company at almost $5 billion. The California-based venture quickly unraveled, and the stock fell 68% on August 3, after the company reported its bleak revenue outlook. Zymergen co-founder Josh Hoffman
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