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Ceres (CERE) is higher after the agricultural biotechnology company said that it has been awarded a U.S. patent for a genetic sequence derived from corn, covering uses of the gene in areas such as research, product development and seed production.
Shares are up 6.54% at $0.582, with a 52-week range of $0.50 – $5.60.
CERE said that the patented gene could be useful in regulating plant development and key biosynthetic processes. It plans to offer other seed companies a commercial license to the innovation, including an opportunity for exclusivity in certain crops.