Biospherics' stock jumps 11% on its plans to sell sweetener

May 18, 1994|By Bloomberg Business News

Biospherics Inc.'s shares rose 11 percent yesterday after the company said late Monday it will sell its nonfattening sugar, D-tagatose, through distributors in Asia, southeast Asia and the southern Pacific region.

The Beltsville company's stock closed trading up 75 cents, at $7.50, on Nasdaq volume of 22,900 shares, compared with the six-month average daily volume of 3,900 shares.

The company said it will use initial profits from overseas sales of D-tagatose to pay for tests required for approval from the U.S. Food and Drug Administration.

Biospherics said D-tagatose is 92 percent as sweet as table sugar and can be directly substituted for in many food products.

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