Arcadia Biosciences, Inc. shares soared more than 300% on Wednesday after the company achieved two milestones in its High Fiber Resistant Starch Wheat program. Its non-transgenic wheat contains up to 94% amylose – a prebiotic with certain health benefits – and delivered enough total dietary fiber to meet FDA standards for “Good Source” of fiber or “High in Fiber” labeling on consumer packaging.
Over the past two years, Arcadia Biosciences stock has trended sharply lower as it remained in the development stage. The company licensed the CRISP-Cas9 gene editing technology from the Broad Institute of MIT for use in agriculture back in September 2017. The recent milestones could be a turning point for the stock as it applies these technologies. Investors will be closely watching the company’s upcoming financial results on March 20 for any further indications of progress. (See also: The Biotech Sector: A Primer.)
Arcadia Biosciences’ rally was extended in a big way this week with a 300% move higher, but traders will be watching these key levels. …read more
Read more here: Arcadia Biosciences Stock Erases 2017 Losses in Breakout