Origin Agritech Limited (NASDAQ: SEED) announced that its Origin Biotechnology unit reached a worldwide agreement with the Institute of Microbiology of the Chinese Academy of Sciences and Sichuan Biotech Engineering, Limited. Those two will jointly own the rights to an internally developed gene which is highly tolerant to glyphosate herbicide. This glyphosate-tolerance gene is entirely new to the consumer markets in that it has never been commercialized, and is protected by patents granted separately by China and USA separately. SEED is surging on the news. At the open we have a gain of almost 10% at $5.25 on 87,000 shares versus average volume of 120,000. The 52-week high is $6.31. -Jon C. Ogg
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment