MeaTech3D (NASDAQ:MITC) stock is heating up today following news of a breakthrough in its lab-grown steak efforts.
MeaTech3D revealed the successful printing of a 3.67 oz cultivated steak that’s made of real muscle and fat tissue. The company points out this was done without the use of soy or pea protein.
According to the company, its goal is to create a real replacement for conventional steak. With its recent success, the company is one step closer to doing that. The bioprinted steak is the largest yet and opens the way for further tests.
Sharon Fima, CEO and CTO, MeaTech3D, said this about the news sending MITC stock higher.
“Today’s breakthrough is the culmination of over one year’s efforts in our cellular biology and high-throughput tissue engineering processes, as well as our precision bioprinting technology. By bioprinting a 3.67 oz steak comprised of living tissue, we believe we have both validated our core technologies and placed ourselves at the forefront of the race to develop high-end, real cell-based cultivated premium meat products.”
MeaTech3D created the cultured steak with a proprietary process that has is isolating bovine stem cells from tissue samples. It then multiples these cells until they reach the right mass. Afterward, these cells are turned into bio-inks for MITC’s 3D bio-printer. Following that, the printed product was incubated to maturation.
MeaTech3D actually announced this breakthrough a few days ago. The company’s stock has been rising since and today’s movement is an extension of that rally. This has MITC stock up 4% as of Friday morning.
There’s more stock market news to jump into below!
We’ve got all the most recent stock market news for traders today. Among those is Context Therapeutics (NASDAQ:CNTX) soaring on breast cancer trial results, C3.ai’s (NYSE:AI) shares jumping on a massive contract, as well as this morning’s biggest pre-market stock movers. You can get all that info from the following links!
More Friday Stock Market News
- CNTX Stock: The Breast Cancer Clinical Trial Data That Has Context Therapeutics Soaring Today
- AI Stock Alert: Why Is C3.ai Soaring This Morning?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
