Intrexon Spikes 20%; Oxitec Subsidiary Working To Control Zika Virus Outbreak

Shares of Intrexon Corp XON were trading higher by more than 12 percent at $29.69 early Thursday afternoon.

Intrexon is engaged in the field of synthetic biology. The company designs, builds and regulates gene programs which are Deoxyribonucleic Acid (DNA) sequences that consist of genetic components.

Shares of Intrexon hit an intra-day high of $32.67 on Thursday after CNN Money reported that Oxitec, a subsidiary of Intrexon, is working to control the Zika virus outbreak in Brazil.

CNN Money noted that Oxitec breeds male mosquitoes that when released into the air, help stop the spread of the Zika virus by passing along a gene to their offspring that make them die young.

The publication added that Oxitec doesn't yet have the necessary licenses to sell its "suppression service" and the company's "can't sell it commercially." However, it can accept "contributions" from customers towards the cost of the service.