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March 7, 2006

As high as an elephant's eye

Posted by Benjamin J. Romano at 3:26 PM

Eden Biosciences saw its stock grow like pumped-up corn after it announced data from a study of its protein supplement, ProAct.

Shares were up 19.2 percent, or 14 cents, to close at 87 cents in heavy trading today.

The Bothell company said ProAct, a protein product applied to crops at the same time as herbicides, increased field-corn yields by an average of 7 bushels per acre in a study done in partnership with the National Corn Growers Association last year.

The association projected a national average yield of 148.4 bushels per acre in 2005.

ProAct works by simulating an attack from a harmful bacteria, tricking the plant into increasing its growth and defense systems.

Eden CFO Brad Powell said farmers who used ProAct returned about five times their investment in the product, which costs around $5 per acre.

The data from the study will bolster Eden's marketing efforts, Powell said.

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