Shares of Plant-Based Meat Company Spike 53% (and It’s Not Beyond Meat)8th May 2019
By The Life Science Report
Source: Streetwise Reports 05/06/2019
This small-cap nutrascience stock hit a new 52-week high on May 6th, extending a run that has the stock up 147% over a five-day period.
The buzz around Beyond Meat has been strong since the company’s IPO last week, and subsequent 63% surge in stock price. Perhaps the warm reception has investors looking to uncover value in other, lesser-known plant-based protein stocks, as Burcon NutraScience Corp. (BU:TSX) has seen its own shares vault more than 53% on Monday, May 6th for a 5-day gain of 147%.
The company’s most recent report of financial results state: “As at December 31, 2018, Burcon has not yet generated any significant revenues from its technology. For the three and nine months ended December 31, 2018, the company recorded a loss of $1,155,000 and $3,532,000 ($0.03 and $0.08 per share), respectively. . .The commercial success of any of Burcon’s products will depend on whether they receive public and industry acceptance as a food ingredient and dietary supplement.”
The company holds 66 U.S. patents for its extraction technologies and product uses, with an additional 45 under review by the United States Patent and Trademark Office. Burcon successfully commercialized CLARISOY, the company’s flagship soy-based protein product, and is currently working to commercialize several other plant-based nutrition products, including Peazazz, Puratein, Supertein and Nutratein, each with a distinct functional and nutritional attribute.
Burcon NutraScience Corp. closed at $0.89 on May 6th, up from $0.36 on May 1st.
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