Here’s Why Intrexon Corp Surged Today

Here’s Why Intrexon Corp Surged Today

Intrexon has been in the news quite a lot lately, as it is one of the leading companies to counter the Zika virus, which continues to be a major threat

Here’s Why Intrexon Corp Surged Today

By Aliya Kaleem on Feb 3, 2016 at 9:27 am EST

Intrexon Corp. (NYSE:XON) stock is trading up more than 4% during pre-market hours today. The shares surged after Legg Mason Capital Management (LMM) founder Bill Miller stated on CNBC that his company holds the second-largest stake in the synthetic biology corporation. On the other hand, Amazon has the largest position.

Recently, Intrexon received a lot of attraction, as it is one of few publicly-traded companies that are working to combat the Zika virus; others include Inovio, Cerus, and Newlink. The virus became a threat after World Health Organization (WHO) declared it as a global emergency. This will help speed up the research, along with international response, for the matter at hand.

The company is working to control mosquitos, as the virus is primarily transferred through them. If it is able to slice even a small part of the global mosquito population through its medical methods, it will generate enough revenue. It is currently in the early stages of this process, and faces political, biological, financial, and public opinion issues. At present, Intrexon stock is up 4.23% at $32, as of 9:07 AM EST.

Editing by Haseem uz Zaman; Graphics by Arshad Abbasi

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