Bee Vectoring Busy After FDA Exemption

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Wednesday, October 30, 2019

Companies trying to get their products to market need to withstand the scrutiny of various government agencies on both sides of the border. When they can either sidestep or win exemptions from restrictions, the result is a big boost to their profile, and their stock prices. 

The beneficiary of one of these exemption is Mississauga, Ontario-based Bee Vectoring Technologies International (TSX-Venture:BEE). The company, with offices in Sacramento, Calif., told investors Wednesday that the U.S. Environmental Protection Agency (EPA) has established such an exemption from the requirement of a tolerance under the Federal Food, Drug and Cosmetic Act (FFDCA) for Clonostachys rosea Strain CR-7, BVT's proprietary beneficial microbe, and the active ingredient in its recently EPA-registered product, VECTORITE™ with CR7. 

It’s important because tolerance-exempted products such as CR7 give growers an economic benefit by allowing them to capture greater value for their crop and/or by reducing the risk of an unplanned rejection with the U.S. government.

Wednesday’s news release exulted that most crop protection products on the market currently do not have this exemption and the U.S. Food and Drug Administration as well as some food companies and supermarkets regularly test for pesticide residue levels on harvested crops.

Thus, shares in BEE buzzed four cents higher, or 12.1%, to 37 cents, midday Wednesday, on volume of nearly 508,000 shares.

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