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Ceres skyrockets after winning U.S. patent for soybean innovation

May 27, 2015 2:11 PM ETceres (CERE-OLD) StockBy: Carl Surran, SA News Editor1 Comment
  • Ceres (NASDAQ:CERE-OLD +101.8%) shares more than double after the agricultural biotech company says it received a U.S. patent for a genetic sequence derived from soybeans affecting plant development and transformation such as boosting yields or adapting soybeans for biofuel production.
  • CERE believes the gene has applications in regulating major biosynthetic practices related to commercial herbicides, and aims to market a commercial license for its innovation to other seed businesses, which also includes an option for exclusivity in specific crops.
  • CERE says soybean is one of the most popular and profitable cash crops in the world, as the number of acres farmers planted increased 2.4%/year during 2003-13 to 275M acres worldwide.

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