Kraig Biocraft Labs 50% Complete Converting Record Spider Silk Cocoons to Reeled Silk
Summary
Kraig Biocraft Laboratories announced significant progress in converting its recently produced record 1.8 metric tons of recombinant spider silk cocoons into reeled silk, with the process now approximately 50% complete. This update follows the company's April 20th announcement that it had begun processing this historic volume. The successful conversion of these cocoons into reeled silk is a critical step towards commercialization, enabling the company to build a substantial inventory for ongoing product development and future sales opportunities. This operational execution underscores the company's progress in establishing a scalable supply chain for its spider silk technology. Investors should monitor further updates on the completion of this processing cycle and subsequent commercialization initiatives.
At the time of this announcement, KBLB was trading at $0.15 on OTC in the Life Sciences sector, with a market capitalization of approximately $162.4M. The 52-week trading range was $0.07 to $0.16. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.