Arcadia Biosciences Inc (NASDAQ: RKDA) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has been granted a United States patent, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The patent;
- what we’re seeing from RKDA stock; and
- what we’ll be watching for ahead.
RKDA Is Climbing On Patent News
As mentioned above, Arcadia Biosciences is having a great start to the trading session this morning after the company announced that it has been granted a patent. In a press release issued early this morning, the company said that the United States Patent and Trademark Office has granted it a patent for extended shelf life wheat. The patent covers the newest trait in the RKDA non-genetically modified GoodWheat™ portfolio.
The patent, number 10,087,455 is titled “Wheat With Reduce Lipoxygenase Activity” and covers the new technology that extends the storage life of whole wheat flower by minimizing oxidation. In a statement, Raj Ketkar, President and CEO at RKDA, had the following to offer:
This patent demonstrates our commitment to developing exciting innovations for consumers and food companies to drive the adoption of whole wheat… Commercial plans are underway, and we look forward to sharing those soon.
What We’re Seeing From The Stock
As investors, one of the biggest lessons that we learn when we get started is that the news leads to moves. In the case of RKDA, the news proved to be overwhelmingly positive. After all, investors tend to enjoy investing in stocks that represent companies with a proven ability to protect their products from competition. This patent does just that for Arcadia. So, it comes as no surprise that excited investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:16), RKDA is trading at $5.50 per share after a gain of $0.52 per share or 10.44% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on RKDA. In particular, we’re interested in following the continued development of its GoodWheat™ portfolio and the revenue that is generated through it. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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