A Michigan-based small cap just announced that the United States Patent and Trademark Office (USPTO) has recently published two key patent applications filed by the company. According to the release, these two USPTO patent applications build on Kraig Labs' innovative recombinant spider silk technologies, causing shares of Kraig Biocraft Laboratories Inc. (OTCQB:KBLB) to be bid up during Wednesday’s pre-market.
Kraig is engaged in the development of high-strength fibers using recombinant DNA technology mainly for commercial applications. It uses genetic engineering technologies to develop fibers with greater strength, resiliency, and flexibility for use in its target markets, namely the textile, specialty fiber, and technical textile industries.
Its products include Monster Silk, which incorporates the natural elasticity of spider silk to make a silk fiber that is more flexible than conventional silk fibers and textiles; and Dragon Silk, which combines the elasticity of Monster Silk with additional high strength elements of native spider silk. It generates the majority of its revenues from its business across the United States.
Traders appear to be bullish on the news as shares are bid up at $0.095/share (+19.12% implied open for sellers) at the time of writing. This move could be a strong continuation of the intermediate uptrend this stock has been following for the last three months.
