Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) is hitting our radar today, and is a stock that has notyet appeared on Street Register. The company refers to itself as a ‘leading developer of genetically engineered spider silk based fiber technologies’ and claims to have ‘achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.’ That claim seems at least reasonably plausible, especially in light of the fact that the company holds a government contract, an update on which was given in its latest press release.
There is an interesting chart here as well. KBLB has seen two major spikes in 2017- right at the outset, and then again in April. Since that time, the stock has worked its way down, until the current surge began to take effect. If the PPS were to test either of those previous swing highs from earlier in the year, it would mean considerable gain opportunities from current pricing.
Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) delivered the first of its spider silk fiber samples back in May, and this week has announced that the U.S. Army awarded the optional phase of its contract with the Company valued at more than $900,000. Under this exercised option, the Company will work to design, produce, and deliver additional recombinant spider silk materials tailored for the protective needs of our Soldiers. With this additional award the total contract is now valued at more than $1.0 million.
“When I founded this Company it was with the dream that one day we would work with the US Army to produce ultra-high strength materials in support of our Warfighters,” said Company CEO and founder, Kim K. Thomson. “The Army’s exercise of its option under our agreement validates that dream. Our team is honored to be working on this noble project and we intend to provide this very important customer with the very best high strength polymers using our recombinant spider silk technology.”
“We are extremely excited to continue our work with the US Army to deliver revolutionary materials to support the Warfighter,” stated Jon Rice, COO. “Under this new phase we will be working closely with our sponsor agency to match the performance of our spider silk to their specific use cases and protective applications. I would like to thank our team for the incredible amount of effort they’ve put in to make the first phase of this project a success and express my gratitude to our sponsor for the trust and confidence they’ve placed in us to deliver the next generation of spider silk solutions. The potential uses of spider silk are nearly limitless, but one of the greatest honors is being able to apply our technology to serving those who dedicate themselves to serving and protecting all of us.”
This additional work on the contract is scheduled to last roughly 12 months and is the Company’s second US Department of Defense award. (Source: Globe Newswire)
While it’s true that the company’s genetically engineered ‘Spider Silk’ product does not come from actual spiders, but rather silkworms, the company does hold proprietary gene sequencing technology that gives the silkworm silk extraordinary properties. Kraig has created approximately twenty different genetically engineered spider silk fibers based on its genetic designs. If the military believes the company to be on the right track, as evidenced by its option exercise, it’s enough to put the stock on our own radar. Stay locked to Street Register for updates, and we’ll deliver important developments on KBLB as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in KBLB stock, short or long.