- 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.