The previously announced special stock dividend of 1,776,557 shares (accounts for 1:30 reverse split) of AquaBounty by Intrexon (NYSE:XON) began trading on January 9 on a "when-issued" basis under the symbol "AQB" and will continue to trade this way through January 18, the distribution date. "When-issued" means that the shares have been authorized but not yet issued.
On January 18, XON shareholders will be entitled to receive ~0.014968 of a share of AquaBounty for each XON common share owned.
AquaBounty raises salmon in a sustainable manner that optimizes fish health while minimizing the environmental impact.
Intrexon Corporation (NYSE:XON) announced a special stock dividend of ~53.30M shares of common stock of AquaBounty Technologies, subject to adjustment to reflect a 1:30 reverse stock split of AquaBounty's common stock that is expected to be implemented by AquaBounty prior to the distribution of the special stock dividend.
Payable Jan. 18; for shareholders of record Jan. 9
Intrexon's (NYSE:XON) Oxitec unit reports that it has overwhelming support for its engineered mosquito program in Brazil as a method to control the incidence of diseases like Zika, dengue and chikungunya spread by the Aedes aegypti mosquito.
In an independent survey conducted in early November, almost 93% of the residents in Piracicaba city support the Friendly Aedes project which began in April 2015 and now encompasses an area of 60K people.
A trial in the Florida Keys is set to go if local opposition can be overcome in Key Haven, the site of the study. The local Mosquito Control Board backs the project.
Texas has reported its first home-grown case of Zika virus - making it the second U.S. state with mosquitoes spreading the disease.
It's a long-feared development but not a surprising one. Like Florida, South Texas is home to the Aedes aegypti mosquitoes that spread Zika and also hosts many travelers to and from countries where the virus has been spreading.
Oxitec's parent Intrexon (XON -2.1%) eases on increased volume in early trading despite the good news that the Florida Keys Mosquito Control District voted to approve an investigational agreement for the use of Oxitec's engineered mosquitoes, OX513A, to reduce the local population of Aedes aegypti mosquitoes, the primary vector for Zika, dengue and chikungunya.
Florida's Key Haven is the proposed trial site if local opposition can be overcome.
Dampening investors' enthusiasm could be WHO's declaration that Zika is no longer a public health emergency of international concern.
Intrexon (XON +5.2%) is riding the initial bullish biotech wave after the Trump victory, but there is a bit of bad news related to a U.S. field trial of subsidiary Oxitec's genetically altered mosquitoes, OX513A, to assess their ability to reduce the spread of diseases like Zika, dengue, yellow fever and chikungunya.
The proposed study will be conducted in Florida's Key Haven, an island in the lower keys with ~1,000 residents, most of which apparently take a dim view of the project. In a ballot vote yesterday, almost 2/3 oppose it. In a countywide referendum, however, ~58% support it.
Key Haven residents don't want their area used as an experiment site because they perceive a lack of evidence that the engineered Aedes aegypti mosquitoes are safe for the environment.
The results of the referendums are nonbinding. The ultimate decision will be made by the five-member Florida Keys Mosquito Control District. Most residents expect it to follow the majority vote but the split makes the decision more uncertain.
Florida officials have announced a new area of Zika transmission in Miami, which has already infected five individuals, and called on the federal government for funding to help fight the virus.
It's the third established outbreak in the city, a hot zone for Zika because it has both the Aedes mosquitoes that transmit the disease, and an influx of travelers from other areas where the virus is spreading.
Florida officials are warning that Hurricane Matthew could complicate efforts to control Zika by interrupting mosquito-spraying efforts and boosting numbers of the biting bugs that spread the virus.
The warnings come as authorities reported six new suspected non-travel-related Zika cases in Miami Beach and Miami-Dade County, bringing the number of cases where local mosquitoes are believed to have caused infections to 139.
After meeting with the top four congressional leaders on Monday, President Obama said he was encouraged that lawmakers would be able to reach an agreement on funding to fight the Zika virus.
In February, Obama had asked Congress to approve $1.9B in emergency funds to battle Zika with diagnostic tools and vaccines, but disagreements over side issues related to abortion led to divisions about full funding.
A bipartisan coalition of Florida politicians are urging the U.S. government to step up efforts to fight Zika, including sanctioning the emergency use of Intrexon's (NYSE:XON) genetically engineered mosquitoes.
Emphasizing the point, Florida Rep. David Jolly brought a container of mosquitoes onto the House floor Wednesday to criticize Congress for failing to pass legislation to combat the virus in the Sunshine State.