Kraig Biocraft Laboratories (OTCMKTS:KBLB) Stock Extends Rally, Jumps 35% in a Week
The biotech sector has grown at a remarkable rate over the course of the past decade, and there are now some biotech companies that are not even involved in manufacturing treatments. Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) is one such company. The company involved in developing and commercializing spider silk, and it is also involved in extensive genetic research so that products in practical use can be developed.
Completed The Development Phase
Kraig has managed to develop a proprietary technology that allows it to produce recombinant spider silk at an industrial scale, and that could potentially have a major impact on the textile business across the globe.
The Kraig Biocraft stock has also performed admirably over the course of the past month and gained as much as 35% during the period. In such a situation, it could be worthwhile for investors to take a closer look at the latest developments surrounding Kraig. This morning, the company announced that it had concluded the development phase of a new initiative that seeks to tackle the problem of viral pathogens, which currently poses one of the biggest problems in silk production at a global level.
It is a major development for the company considering the fact that it could potentially solve one of the biggest problems in the industry. According to a report from the Journal of Biological Control, total losses in annual silk production are as high as 32% due to viral diseases. Hence, a solution to the problem could only be a major benefit to the industry at large.
The company reported that it had created a genetic insert that can boost immunity, and in turn, it could help in the development of silkworms, which are disease resistant. Kraig Biocraft is going to conduct the first round of resistant testing. Investors should also be noted that the initiative with regards to viral pathogens was carried out by the company while also working on the program related to high-performance spider silk yarns and fiber.
The value of silk production at a global level could touch as much as $17 billion, and hence, the impact of stopping wastage through viral diseases could be enormous. Biocraft has stated that once the disease-resistant silkworms are developed, it could then license it to players in the silk industry across the world.
However, that is not all. There have been other positive developments with regard to Kraig Biocraft as well. Earlier on in June, the company announced that it submitted an application for uplisting on NASDAQ. It goes without saying that the application will need to satisfy the listing requirements of the exchange. Up until the application is being decided upon, the Kraig stock is going to continue to trade on the OTCQB.
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