Why Shares Of Moolec Science Are Skyrocketing Today
Portfolio Pulse from Shivani Kumaresan
Shares of Moolec Science SA (NASDAQ:MLEC) surged after announcing USDA-APHIS approval for its genetically engineered soybean, Piggy Sooy, which produces animal meat protein. This marks a significant biotechnological milestone, as it's the first product of its kind to receive such approval, indicating it does not pose an increased plant pest risk. The company previously reported high levels of pork protein expression in Piggy Sooy seeds and has patented the technology.
April 22, 2024 | 12:22 pm
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Moolec Science SA received USDA-APHIS approval for its genetically engineered soybean, Piggy Sooy, leading to a significant stock price increase.
The USDA-APHIS approval is a significant regulatory milestone for Moolec Science, indicating a positive outlook for the commercialization of its Piggy Sooy product. This approval likely contributed to investor optimism, reflected in the substantial premarket stock price increase. The news directly impacts MLEC's stock as it validates the company's technology and opens pathways for future product developments and market opportunities.
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