Kraig Biocraft Laboratories Enter Rapid Growth Rearing Phase for Third Spider Silk Production Cycle
Rhea-AI Summary
Kraig Biocraft Laboratories (OTCQB: KBLB) has entered the rapid growth rearing phase for its third spider silk production cycle of the season. The company has expanded production space to accommodate the rapidly growing silkworms, which are preparing to spin proprietary recombinant spider silk cocoons. The BAM-1 Hybrids are reported to be the most robust production strain ever fielded by the company.
Kraig Labs has implemented a batch-rearing process to optimize silkworm colony health and ensure ideal rearing conditions. This approach aims to minimize overcrowding and manage mulberry supply during the rainy season. The company's COO, Jon Rice, highlighted significant breakthroughs in their business plan, emphasizing advancements in production capacities for cost-effective, commercially scalable spider silk.
Positive
- Entered rapid growth rearing phase for third spider silk production cycle
- Expanded production space to accommodate growing silkworms
- BAM-1 Hybrids reported as most robust production strain
- Implemented batch-rearing process to optimize silkworm colony health
- Significant breakthroughs in production capacities for commercially scalable spider silk
Negative
- None.
News Market Reaction – KBLB
In the trading session that priced this news, KBLB declined 3.08%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ANN ARBOR, Mich., July 29, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), announces that it has entered the rapid growth rearing phase for its third spider silk production cycle of the season. During this phase, the silkworms grow exponentially in preparation for spinning the Company's proprietary recombinant spider silk cocoons.
Over the last week, the Company has taken steps to add additional production space to accommodate the rapidly growing silkworms during this phase. The Company continues to closely monitor the health and performance of the entire silkworm colony during this period of significant growth. Reports from the Company's rearing team continue to show that the BAM-1 Hybrids are the most robust production strain that the Company has ever fielded.
As previously reported, the Company has adopted a batch-rearing process to minimize overcrowding and level loading the need for fresh, dry mulberry during the traditional rainy season. This approach is designed to further support silkworm colony health and ensure optimal rearing and cocooning conditions.
"Kraig Labs has delivered a quantum leap in spider silk production capacity. This advancement was powered by our strategic investments in facilities, equipment, silkworm genetics, and building out a team with the knowledge and expertise to utilize those resources," said Company COO, Jon Rice. "We are seeing significant breakthroughs in our business plan nearly every week as we methodically and systematically advance our production capacities for the world's first cost-effective, commercially scaleable spider silk."
To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk-based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company's future and expectations other than historical facts are "forward-looking statements." These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as "believes," "plans," "expects," "anticipates," "foresees," "estimated," "hopes," "if," "develops," "researching," "research," "pilot," "potential," "could" or other words or phrases of similar import. Forward looking statements include descriptions of the Company's business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
