Kraig Biocraft expands silk business in Vietnam



ANN ARBOR, MI – Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB), a biotechnology company specializing in the development of spider silk fibers, today announced significant progress in its expansion efforts in Vietnam. The company has signed an agreement with the Lintong Agricultural and Forestry Research and Experimental Center (LAREC), a leading sericulture entity in the region.

The agreements build on a memorandum of understanding signed on January 30, 2024, to facilitate the cultivation and propagation of Kraig Labs' unique silkworm varieties, which are specifically designed to thrive in local conditions.

As part of the collaboration, LAREC will contribute its expertise to a selective breeding program and breed a first generation of the company's BAM-1 strain, with the resulting eggs used in Kraig Labs operations.

Kim K. Thompson, founder and CEO of Kraig Biocraft, emphasized the importance of these partnerships as the company looks to integrate its silk technology more deeply into regional fabrics. “We view this agreement as an opportunity to work together to integrate new technologies and deepen our connections in the region,” Thompson said.

Led by Thompson and sericulture expert Dr. Nirmal Kumar, the company is reportedly exceeding expectations in Southeast Asia, with spring production trials nearing completion. This development marks the next phase of the company's business plan.

Kraig Biocraft Laboratories is recognized as a leader in genetically engineered spider silk technology and has multiple scientific breakthroughs with potential impact on the global textile industry.

This announcement is based on a press release from Kraig Biocraft Laboratories and the information contained herein does not constitute an offer to sell or a solicitation of an offer to buy any securities.

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Investment Professional Insights

As Kraig Biocraft Laboratories (OTCQB: KBLB) continues to make strides in the sericulture industry with its expansion in Vietnam, investors are paying close attention to the company's financials and market performance. The company has a market capitalization of approximately $95.27 million and its growth prospects are closely watched, especially given its financial metrics and market behavior.

A noteworthy InvestingPro Tip for KBLB is its high return last year, with a total price return of 129.38%, reflecting investor confidence and market momentum. This has been complemented by strong returns over the past three months, with the company recording a total price return of 147.97%. The data suggests the market is reacting positively to Kraig Biocraft's progress and could bode well for the company's expansion efforts.

Still, it's important for potential investors to consider that the company isn't profitable yet, as reflected in its negative earnings per share (EPS) metric and price-to-earnings ratio of -30.60. Additionally, InvestingPro's fair value estimate for KBLB is currently $0.07, which likely means the stock is overvalued based on its previous closing price of $0.09.

Investors may also want to pay attention to InvestingPro Tip regarding the company's liquidity position, as short-term debt exceeds its liquid assets. This may be a concerning issue for those concerned about Kraig Biocraft's near-term financial stability.

For those interested in gaining a deeper understanding of a company's financial and market performance, InvestingPro provides additional insights and metrics. Currently, KBLB also provides 7 InvestingPro Tips at https://www.investing.com/pro/KBLB, which can provide a more comprehensive understanding of the company's status.Use coupon code PRONEWS24 Subscribe to Pro and Pro+ annually or every two years to get an additional 10% discount, unlocking a wealth of information critical to investment decisions.

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