February 23, 2024


DENVER, Colo., Feb. 6, 2024 (www.247marketnews.com)- Today’s pennyland headliners and movers include; Kraig Biocraft Laboratories (OTCQB:KBLB), Exicure (NASDAQ:XCUR), Agrify Corporation (NASDAQ:AGFY), Phunware, Inc. (NASDAQ:PHUN), Green Giant (NASDAQ:GGE), InVivo Therapeutics Holdings Corp. (NASDAQ:NVIV).

Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) announced, this morning, that it successfully created a new two-strain hybrid silkworm that spins recombinant spider silk, which is the result of the Company’s successful program to produce larger and more robust production strains ahead of its Spring production trials. The Company’s technology utilizes scientifically enhanced silkworms to produce recombinant spider silk.

This enhanced silkworm hybrid, designated by the Company as BAM 1, is the result of careful selective breeding to maximize both robustness and the ratio of usable silk per cocoon. Based upon its initial evaluation and a comparison of genetics, the Company believes that this new two-strain hybrid is the most efficient spider silk production system produced to date. The finished cocoons were tested for cocoon size and silk yield.

The development of this new hybrid involved the careful selective breeding of the Company’s Dragon SilkTM strain with numerous pure commercial production silkworm strains. Once the Company’s spider silk traits were bred and stabilized in the commercial strains, a series of cross-mattings were completed to test the results of various pairings.

This new hybrid produces more useable silk per cocoon than previous hybrid pairings and is expected to make the transition from development into operations in the first and second quarters of 2024. 

“This new hybrid will play a key role in our production trials. Our team is currently scaling up production of the two parental lines used to create this hybrid. One of those parental lines is already homozygous for the spider silk gene. The next milestone, which we believe is imminent, will be to establish homozygosity with the second parental strain,” said Founder and CEO, Kim Thompson. “The BAM 1 recombinant spider silk hybrid will be the central player in Kraig Labs’ spring production trials.”

Kraig Labs website: www.KraigLabs.com/news

Exicure, Inc. (NASDAQ:XCUR) stated, after yesterday’s market close, that it entered into a patent license agreement to develop cavrotolimod for potential treatment for hepatitis with Bluejay Therapeutics, a private clinical stage biopharmaceutical company focused on viral and liver diseases, in which Bluejay will receive an exclusive license in the field of hepatitis to all of Exicure’s relevant patents. Bluejay paid Exicure an initial small, one-time payment and Exicure will also be entitled to modest royalties on future net sales on all licensed technology by Bluejay during the term of the licensed patents.

“Our partnership with Bluejay continues the development of cavrotolimod,” said Paul Kang, Chief Executive Officer of Exicure. “Exicure has spent considerable resources to discover and develop cavrotolimod. While historically, we focused on oncology, Bluejay’s commitment and expertise in developing cavrotolimod for potential treatment of hepatitis makes them an ideal partner to expand the use case of cavrotolimod,” added Mr. Kang.

Exicure website: www.exicuretx.com.

Agrify Corporation (NASDAQ:AGFY) reported, this morning, that it successfully installed a PX-30 Hydrocarbon Extraction System at a customer’s Michigan facility.

The PX-30 Hydrocarbon Extraction System is Agrify’s largest system in its PX-Extraction series and represents a cutting-edge advancement in hydrocarbon extraction technology, designed to enhance efficiency and precision in the extraction process. The installation marks a significant milestone for Agrify, as it reinforced the company’s commitment to delivering state-of-the-art solutions to the cannabis and hemp industries as operators around the country continue to purchase and operate with Agrify’s latest technologies.

“We are thrilled to announce the successful installation of another PX-30 hydrocarbon extraction system at one of our valued customers here in the state of Michigan,” said Brian Towns, EVP & General Manager at Agrify. “This state-of-the-art technology aligns with our mission to provide our clients with the best tools for long-term success in an evolving industry. Agrify is committed to all of our customer’s success as their success is our success.”

Website: http://www.agrify.com

Phunware, Inc. (NASDAQ:PHUN) remains one of the most actively traded pennies, despite not  publishing press since January 19, when it announced the Pricing of $5.6 Million Registered Direct Offering.

Phunware stated that it intends to use the net proceeds for working capital and other general corporate purposes, including expansion of its product initiatives, such as monetizing its patent portfolio, PhunCoin and PhunToken.

Green Giant (NASDAQ:GGE) set a new 52-week low yesterday, $0.032, after Maxim Group LLC acted as the sole placement agent for its December 2023 offering.

Copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering were available at Maxim Group LLC.

Green Giant is a Chinese real estate developer that was founded in 1995 and is headquartered in Hanzhong City, Shaanxi Province.

Green Giant website: www.gge.com.

InVivo Therapeutics Holdings Corp. (NASDAQ:NVIV) is very active this morning, but hasn’t published company news since March.

InVivo Therapeutics is a clinical-stage biomaterials and biotechnology company that was founded in 2005 and is focused on the treatment of spinal cord injuries. The company’s proprietary technology was co-invented by Robert Langer, Sc.D., and Joseph P. Vacanti, M.D. InVivo is headquartered in Cambridge, MA.

InVivo website: www.invivotherapeutics.com.  


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Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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