Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) stock moved up a bit on Tuesday. The stock has been moving within a narrow range over the past month.
In Tuesday’s trading session, KBLB closed higher by 2% to $0.08. More than 3.92 million shares have exchanged hands, above its average volume of 1.66 million shares. The stock opened at $0.079 and moved in a range of $0.0725 – 0.0800.
Kraig Biocraft Laboratories Prepares for Challenge Testing of Disease Resistant Silkworm Lines
Here are the highlights:
Kraig Biocraft announced today that it is preparing to conduct challenge testing on two lines of immunity enhanced silkworms. These silkworm lines were developed by Kraig Labs to combat two of the biggest challenges facing the global silk production industry.
It has been reported that as much as 50% of all losses in silk production result from a single widespread virus. A 2020 paper cited that 75% of all interviewer silkworm raisers reported losses due to this disease. With no effective treatment, this virus results in countless millions of dollars of economic annually. Kraig Labs realized that technologies it was developing for other applications could be used to significantly reduce these losses in the broader silk industry. The Company has made rapid progress in the development of this new technology.
Specifically designed to target and combat this virus and other pathogens, these new transgenics developed by Kraig Labs, are now preparing to undergo challenge testing. These new disease-resistant lines of silkworms are intended for licensing into the global market for mundane silks to combat pathogenic viruses and fungi. The Company expects to make these lines of resilient silkworms available for commercial licensing shortly after the conclusion of successful challenge testing.
“We are very excited to begin challenge testing for these immunity enhanced silkworm lines,” said COO Jon Rice. “Our intention is to license this technology to silk produces all over the world. This program to produce licensable commercial lines of more robust silkworms is the perfect complement to our core focus, the commercialization of Kraig’s eco-friendly recombinant spider silk.”