Shares in Aqua Bounty Technologies (LON:ABTU, OTCMKTS:AQBT) were leaping like salmon on Friday after the US Food & Drug Administration (FDA) approved its genetically enhanced salmon for production, sale and consumption yesterday.
It appears there were no bears in the market today, as the company saw shares swim upstream against a generally down market.
The company’s stock rose more than 50%, or 7.5p, to 22p.
The group's AquAdvantage Salmon is an Atlantic salmon enhanced to reach market size in less time than a conventionally farmed fish.
Aqua Bounty Technologies is a subsidiary of Intrexon Corporation (NYSE:XON).
Its chief executive Ronald Stotish said: "AquAdvantage Salmon is a game-changer that brings healthy and nutritious food to consumers in an environmentally responsible manner without damaging the ocean and other marine habitats.
"Using land-based aqua-culture systems, this rich source of protein and other nutrients can be farmed close to major consumer markets in a more sustainable manner."
The USA currently imports more than 90% of all the salmon it consumes.
Jack Bobo, senior vice president at Intrexon, added: "The US Dietary Guidelines Advisory Committee encourages Americans to eat a wide variety of seafood—including wild caught and farmed—as part of a healthy diet rich in healthy fatty acids.
"However, this must occur in an environmentally friendly and sustainable manner. FDA's approval of the AquAdvantage Salmon is an important step in this direction."