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Shares of Dyadic International Inc. (DYAI) jumped in pre market, But WHY?

Dyadic International Inc. (DYAI) shares jumped 6.94% to $3.85 in pre-market on Friday, June 4, 2021. Earlier, DYAI’s stock lost 1.91% to close Thursday’s morning session at $3.60. DYAI shares have fallen 39.09% over the last 12 months, and they have moved down 11.76% in the past week. Over the past three months, the stock has lost 27.13%, while over the past six months, it has plummeted 41.84%.

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Let’s have a brief look at its recent news.


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Development of COVID-19 Vaccine with Syngene

On May 26, 2021, Dyadic International, Inc entered into a collaboration with Syngene International Limited to develop a COVID-19 vaccine that can be manufactured affordably, at a very large scale, using Dyadic’s proprietary C1-cell protein production platform.

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Participation in the upcoming investor conferences

Dyadic International, Inc will participate in BIO International Convention Digital Conference which is scheduled for June 10-11 & 14-18, 2021.

The President and CEO of Dyadic, Mark Emalfarb, will provide a corporate overview and update on the Company’s progress in advancing its C1-Cell Protein.

The company recently participated in Jefferies Virtual Healthcare Conference which held on Tuesday, June 1, 2021.

Recent financial results announcement

On May 13, 2021, Dyadic International, Inc reported its financial results for the first quarter of 2021.

Q1 2021 financial highlights

FY-2020 financial results 

Conclusion

Well, there is no recent news but covid-19 vaccine development news could be the reason behind its gains.

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