Shares of Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) boomed higher on Wednesday, launching as much as 100% in a matter of hours, racking up powerful gains on tremendous volume. What drove that action? It was quite straightforward: the company just announced that it, along with Polartec, “the premium provider of innovative and sustainable textile solutions”, plans to bring to market the first fabrics made from spider silk.
According to the release, “Initially developed for specialized military applications, these first-of-their-kind materials made from recombinant spider silk will eventually service the global market for high performance textiles and apparel. Among the strongest fibers produced in nature, scalable and cost-effective production of spider silk represents a ‘holy grail’ of material science. Kraig possesses the exclusive right to use patented spider silk gene sequences in silkworms, which is the first way to mass produce these fibers cost effectively and responsibly. (Spiders cannot be raised in colonies and competitors rely on genetically engineered E.coli bacteria to make silk, which produces high levels of carbon dioxide in addition to being cost prohibitive.)”
Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) bills itself as a company that focuses on developing protein based fibers using recombinant DNA technology for commercial applications in the textile and specialty fiber industries in the United States. This fully reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.
KBLB has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Core product technology is aimed at military and police applications for ballistic protection; industrial applications, including critical cables and abrasion/impact resistant components; safety equipment; composite materials for the aero-space industry; and for ballistic protection by the defense industry.
Its products are also used in various markets, such as medical textiles, geo textiles, defense and military textiles, safe and protective clothing, filtration textiles, transportation textiles, textiles used in buildings, composites with textile structure, and functional and sportive textiles.
According to company materials, “Kraig Labs (OTC: KBLB) is the leading developer of genetically engineered spider silk based fiber technologies. Kraig’s recombinant spider silk fibers are lighter, stronger, and more flexible than traditional materials, offering unmatched material performance with sustainable and ecological manufacturing practices.”
Find out when $KBLB reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, KBLB just announced that it, along with Polartec, plans to bring to market the first fabrics made from spider silk.
Traders will note 86% tacked on to share pricing for the name in the past week. What’s more, the listing has seen interest climb, with an increase in recent trading volume of nearly 500% beyond what we have been seeing over the larger time frame.
“Teaming with an industry leader such as Polartec is a real endorsement of our proprietary approach to unlocking the potential of commercially produced spider silk,” says Kim Thompson, Kraig Laboratories founder and CEO. “Kraig believes that spider silk, with its superior mechanical characteristics, has the potential to surpass the current generation of high performance fibers.”
Now commanding a market cap of $99.79M, KBLB has virtually no cash on the books, which compares with about $4.5M in total current liabilities. One should also note that debt has been growing over recent quarters. KBLB is pulling in trailing 12-month revenues of $402K. However, the company is seeing sharp declines. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $KBLB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $KBLB, either long or short, and we have not been compensated for this article.