Dyadic Stock Shoots Higher On Technology Transfer, Licensing Pact For COVID-19 Vaccine In African Continent

Dyadic International Inc (NASDAQ:DYAI) stock is trading higher during the morning session on high volume after signing a COVID-19 vaccine technology transfer and licensing agreement with the Rubic Consortium.
The South African-based company is focused on discovering, developing, evaluating, and manufacturing high-quality, cost-effective vaccines for distribution primarily to African markets.
Dyadic will out-license the C1 Platform for COVID-19 vaccine(s).
Rubic will be responsible for designing and funding the Phase 2 clinical trial within a specified timeframe of the executed technology transfer and licensing agreement.
Dyadic will provide certain technical tools and assistance to Rubic and provide certain genetically modified and engineered C1-cells.
If Dyadic's COVID-19 (DYAI-100) Phase 1 vaccine trial is completed, starting with Phase 2, all costs for COVID-19 commercial product in the Territory will be borne by Rubic.
Rubic and its authorized sublicensees will pay Dyadic a licensing fee equal to (i) a percentage of the sales of the applicable COVID-19 commercial product(s) or a per vaccine fee per dose.
Price Action: DYAI shares are up 27.1% at $4.37 during the market session on the last check Tuesday.