Beyond Meat, Inc. (NASDAQ: BYND) reversed its fortunes Monday after a company spokesperson told Reuters News that the company and McDonald's (NYSE: MCD) co-created the McPlant plant-based patty.

Earlier news about the McPlant from McDonald's sent shares of Beyond Meat sharply lower on fears Beyond Meat would be cut out of the new offering. McDonald's described the technology as "exclusive."

After trading down as much as 8% earlier, shares of Beyond Meat are now up 3%.