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Has EV Biologics (YECO) Stock Risen Last Session For A Reason?

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EV Biologics, Inc. (OTCPink-YECO) stock remained stable as it recorded rise of just 0.63% to close the last session at $4.81. EV Biologics stock performance over the last week was -8.95% versus its monthly performance of 16.02%. A management update upon the company’s name change submission sent YECO stock soaring.

What prompted YECO to release an update?

EV Biologics is a Wyoming, USA-based Biotechnology company. It was previously known as Yulong Eco-Materials Limited. A team of scientists at YECO is developing products derived from human mesenchymal stem cells and other cells that are being used in cosmetics and biopharmaceuticals.

Initial trials will be conducted with university and physician-researchers and will be specific to the international clinical research community, with a targeted approach to the aesthetic and regenerative medicine markets.

EV Biologics updated its investors yesterday of the status of its name change application to the Financial Industry Regulatory Authority.

  • YECO noted that such applications require notarized documents, and is a lengthy and complicated process.
  • The Wyoming Secretary of State received YECO’s Articles of Continuance filed on April 12, 2019, updating YECO’s jurisdiction from the Cayman Islands to Wyoming.
  • Upon completion of the filing in 2019, YECO became a domestic issuer in the United States and no longer a foreign issuer.
  • The Wyoming Secretary of State notified YECO on May 7 that the Articles of Continuation had been accepted and file accordingly by the State of Wyoming.
  • As a result of the filing with the Wyoming Secretary of State, YECO has become subject to U.S. jurisdiction.

How does YECO plan to move forward?

This move took place on July 31, 2020, after which YECO changed its name to EV Biologics Corp. Since then, YECO has been operating legally under its new name in the United States and around the world. EV Biologics (YECO) will receive a new trading symbol from FINRA upon completion of the review process.

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