Political agreement on New Genomic Techniques (NGTs), including gene editing, advances a science-based path for plant breeding innovation and supports Cibus’ plans to bring improved traits to European growers The agreed legislative text outlining a framework for NGTs in the EU will now move to formal endorsement by the European Parliament and Council SAN DIEGO, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the “Company”), a leading agricultural technology company that develops and licenses p ...

Financial Performance - Cibus reported a quarterly loss of $0.44 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.41, and a significant decline from earnings of $0.06 per share a year ago, indicating an earnings surprise of -7.32% [1] - The company posted revenues of $0.62 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 43.58%, and a decrease from year-ago revenues of $1.67 million [2] - Over the last four quarters, Cibus has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - Cibus shares have declined approximately 51.4% since the beginning of the year, contrasting with the S&P 500's gain of 16.5% [3] - The current Zacks Rank for Cibus is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.41 on revenues of $1.34 million, and for the current fiscal year, it is -$2.67 on revenues of $4.4 million [7] - The trend of estimate revisions for Cibus was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - Cibus operates within the Zacks Agriculture - Operations industry, which is currently ranked in the bottom 21% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Financial Data and Key Metrics Changes - As of September 30, 2025, the company's cash and cash equivalents were $23.9 million, sufficient to fund planned operating expenses into early Q2 2026 [20] - Revenue for Q3 2025 was $615,000, a decrease from $1.7 million in the same period last year, reflecting the timing of partner-funded program activities [20] - Research and development expenses decreased to $10.8 million from $13 million year-over-year, primarily due to cost-reduction initiatives [21] - Selling, general, and administrative expenses were reduced to $5.2 million from $7.7 million in the previous year [21] - The net loss for Q3 2025 was $24.3 million, significantly improved from a loss of $201.5 million in the year-ago period, which included a $181.4 million non-cash goodwill impairment charge [22][23] Business Line Data and Key Metrics Changes - The company signed seven RISE customer agreements in the U.S. and Latin America, representing approximately 5-7 million addressable acres for herbicide-tolerant traits HT1 and HT3, with potential annual royalties exceeding $200 million [6][7] - The RISE traits are on track for initial commercial launch in Latin America in 2027, followed by the U.S. in 2028 and Asia around 2030 [8][11] - The biofragrance program achieved critical milestones with successful pre-commercial pilot runs, positioning the company to receive initial payments in Q4 2025 [12] Market Data and Key Metrics Changes - The company is expanding its customer base in Latin America and is positioning for entry into the Asian markets, particularly India, which has approximately 120 million acres under rice cultivation [10][35] - The regulatory environment is improving, with positive determinations in Ecuador and ongoing approvals across North and South America, as well as progress in India and parts of Asia [14] Company Strategy and Development Direction - The company is focused on commercialization and production activities, particularly in weed management traits and biofragrance business, to capture near-term revenue opportunities [4][5] - The streamlined strategic focus has led to significant commercialization momentum, validating the decision to prioritize high-value opportunities [4][5] - The company aims to reduce annual net cash usage to approximately $30 million by 2026 through disciplined capital allocation and operational efficiencies [15][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the gene-editing revolution in agriculture, emphasizing the company's readiness to capitalize on commercialization opportunities [24][25] - The regulatory environment is seen as a catalyst for growth, with expectations for the EU regulatory process to finalize by year-end 2025 [31][33] - The company anticipates initial revenues from biofragrance products in 2026, with a long-term revenue potential in the $20 million-$40 million range [47] Other Important Information - The company has strengthened its board with new appointments to support commercialization efforts [5][6] - The standardized rapid trait development system (RTDS) is recognized as a breakthrough in agricultural innovation, enhancing the company's ability to deliver edited germplasm to customers [11][17] Q&A Session Summary Question: Potential for R&D sharing or bespoke R&D projects in 2026 - Management indicated significant opportunities for expanding R&D collaborations in 2026, driven by regulatory tailwinds and inbound interest for partnerships beyond current focuses [27][28] Question: Timeline for EU regulations finalization - Management believes the final text for EU regulations will be completed by year-end 2025, marking a significant moment for the industry [31][33] Question: Total addressable market for rice in key regions - The company estimates a total addressable market of over 120 million acres in India and 5-7 million acres in Latin America and the U.S. [35][39] Question: Differences between HT traits and pod shatter reduction - Management explained that herbicide-tolerant traits are essential for weed management and have a well-understood business model, making them easier to integrate into breeding programs compared to pod shatter reduction traits [40][41] Question: Revenue expectations for biofragrance products in 2026 - Initial revenues from biofragrance products are expected to be in the single-digit millions, with potential to ramp up significantly in subsequent years [47][55] Question: Update on automation and improvements in the real-time delivery system - Management highlighted improvements in editing frequency and regeneration efficiency, with ongoing automation efforts to enhance operational efficiency [63][64]

Financial Performance - Total revenue for Q3 2025 was $615,000, a decrease of 63.2% compared to $1,667,000 in Q3 2024[23] - Net loss for Q3 2025 was $24,303,000, compared to a net loss of $201,459,000 in Q3 2024, reflecting a significant reduction in losses[23] - The company reported a comprehensive loss of $24,301,000 for Q3 2025, compared to a comprehensive loss of $201,453,000 in Q3 2024[26] - For the three months ended September 30, 2025, Cibus, Inc. reported a net loss of $24.303 million, compared to a net loss of $179.968 million for the same period in 2024[28] - For the nine months ended September 30, 2025, Cibus, Inc. reported a net loss of $100.253 million, compared to a net loss of $256.909 million for the same period in 2024, indicating a significant improvement[32] - The net loss attributable to Cibus, Inc. stockholders for the three months ended September 30, 2025, was $23.541 million, compared to a net loss of $179.968 million for the same period in 2024[76] Expenses - Research and development expenses for Q3 2025 were $10,784,000, down from $12,990,000 in Q3 2024, indicating a 16.8% decrease[23] - Total operating expenses for Q3 2025 were $16,053,000, a substantial decrease from $202,104,000 in Q3 2024, primarily due to goodwill impairment in the prior year[23] - Stock-based compensation for the quarter was $1.886 million, reflecting an increase in employee incentives[28] - The company incurred stock-based compensation expenses of $6.363 million in 2025, down from $8.030 million in 2024, indicating a reduction in equity compensation costs[32] - Personnel expenses for the nine months ended September 30, 2025, were $20,189,000, a decrease of 9.0% from $22,129,000 in 2024[85] Assets and Liabilities - Cash and cash equivalents increased to $23,886,000 as of September 30, 2025, up from $14,433,000 at the end of 2024, representing a 65.5% increase[21] - The company's total assets decreased to $330,226,000 as of September 30, 2025, down from $350,069,000 at the end of 2024[21] - The royalty liability related to parties increased to $225,517,000 as of September 30, 2025, compared to $199,442,000 at the end of 2024, indicating a 13.1% increase[21] - The total stockholders' equity at September 30, 2025, was $52.029 million, a decrease from $74.476 million at June 30, 2025[28] - The accumulated deficit increased to $826.965 million as of September 30, 2025, compared to $803.424 million at June 30, 2025[28] Stock and Shares - The weighted average shares of Class A common stock outstanding increased to 52,925,776 in Q3 2025 from 23,586,746 in Q3 2024[23] - The balance of Class A Common Stock increased to 52,566,650 shares by September 30, 2025, from 52,480,413 shares at June 30, 2025[28] - The total number of shares outstanding increased to 52,566,650 as of September 30, 2025, from 26,429,630 as of September 30, 2024, reflecting significant equity financing activities[30] - The total potential dilutive securities as of September 30, 2025, amounted to 13,562,431, compared to 2,115,060 in 2024, indicating a substantial increase[77] Goodwill and Impairment - The company recognized a goodwill impairment of $20.950 million in 2025, a decrease from $181.432 million in 2024, reflecting a positive trend in asset valuation[32] - The Company experienced a goodwill impairment of $21.0 million for the three months ended March 31, 2025, and a total impairment of $181.4 million for the three and nine months ended September 30, 2024[59][60] - Goodwill as of September 30, 2025, was $585.266 million, with accumulated impairment losses totaling $352.750 million, resulting in a net goodwill balance of $232.516 million[106] - During the nine months ended September 30, 2025, the company recognized an impairment of goodwill amounting to $21.0 million, following a prior impairment of $181.4 million in the same period of 2024[106] Cash Flow and Financing - Cibus, Inc. generated $50.100 million in proceeds from issuances of securities during the nine months ended September 30, 2025, compared to $43.902 million in 2024[32] - The Company anticipates continued losses for the next several years and plans to finance future cash needs through various means, including commercialization activities and public or private equity or debt financings[44] - In January 2025 and June 2025, the Company raised approximately $21.4 million and $25.0 million, respectively, from registered direct offerings[46] - The Company recorded a nominal income tax provision for foreign jurisdictions for the three and nine months ended September 30, 2025, due to a history of net operating losses[140] Deferred Revenue - Deferred revenue balance as of September 30, 2025, is $932,000, reflecting an increase from $918,000 as of June 30, 2025[63] - For the nine months ended September 30, 2025, $2.582 million of deferred revenue was earned, with the same amount received, resulting in no change in the balance[63] - The collaboration agreement revenue for the three months ended September 30, 2025, was $386,000, compared to $1,447,000 in 2024, showing a significant decline[154] - The company had $0.9 million of deferred revenue from R&D activities under the P&G agreement as of September 30, 2025[153] Operational Changes - The Company implemented a restructuring initiative, including a workforce reduction of approximately 34 full-time employees, to preserve capital resources[50] - The Company terminated its at-the-market facility during the third quarter of 2025, having not issued any shares from it during the nine months ended September 30, 2025[45] Currency and Translation Adjustments - Cibus, Inc. experienced a foreign currency translation adjustment of $2 million during the quarter[28] - Cibus, Inc. reported a foreign currency translation adjustment of $31,000 for the nine months ended September 30, 2025, compared to a loss of $23,000 in 2024, indicating fluctuations in currency exchange rates[32] Other Financial Metrics - The company has not experienced any counterparty credit losses and maintains a diversified portfolio of high investment-grade securities[86] - The company is currently evaluating the impact of recently issued accounting standards on its financial statements[90] - The company recorded depreciation and amortization expense of $939,000 for the three months ended September 30, 2025, compared to $1.172 million for the same period in 2024[103]

Financial Performance - Net loss for Q3 2025 was $24.3 million, significantly reduced from $201.5 million in the same quarter last year[16]. - Total revenue for Q3 2025 was $615,000, a decrease of 63.2% compared to $1,667,000 in Q3 2024[33]. - Net loss for Q3 2025 was $24,303,000, compared to a net loss of $201,459,000 in Q3 2024, reflecting a significant reduction in losses[33]. - Basic and diluted net loss per share of Class A common stock was $(0.44) for Q3 2025, compared to $(7.63) for Q3 2024[33]. Cash and Liquidity - Cash and cash equivalents as of September 30, 2025, were $23.9 million, expected to fund operations into early Q2 2026[16]. - Cash and cash equivalents increased to $23,886,000 as of September 30, 2025, from $14,433,000 at the end of 2024, marking a 65.7% increase[30]. - The company generated $50,100,000 in proceeds from issuances of securities during the nine months ended September 30, 2025[34]. Expenses - R&D expenses decreased to $10.8 million for Q3 2025, down from $13.0 million in the prior year, primarily due to cost reduction initiatives[16]. - SG&A expenses were $5.3 million for Q3 2025, compared to $7.7 million in the year-ago period, reflecting cost-saving measures[16]. - Research and development expenses for the nine months ended September 30, 2025, were $34,811,000, down from $37,996,000 in the same period of 2024[33]. Assets and Liabilities - Total assets decreased to $330,226,000 as of September 30, 2025, from $350,069,000 at the end of 2024, a decline of 5.7%[30]. - Total liabilities increased to $278,197,000 as of September 30, 2025, compared to $252,238,000 at the end of 2024, an increase of 10.3%[32]. - Cibus' royalty liability to related parties increased to $225,517,000 as of September 30, 2025, from $199,442,000 at the end of 2024, an increase of 13.1%[30]. - The company reported a goodwill impairment of $20,950,000 for the nine months ended September 30, 2025, compared to $181,432,000 in the same period of 2024[33]. Business Development - Cibus signed seven Rice customer agreements, representing approximately 5-7 million addressable acres and a potential annual royalty opportunity exceeding $200 million[2]. - Cibus expects to deliver HT traits to Latin American customers in Q4 2025, with field trials commencing by year-end[1]. - Positive field trial results for HT2 in Canola were reported, with traits available for seed licensing partners[1]. - The company completed pre-commercial pilot runs for biofragrance products, targeting commercial expansion in 2026[1]. - Cibus appointed Kimberly A. Box and Craig Wichner to its Board of Directors to enhance commercial expansion support[1]. Future Outlook - Cibus aims to achieve a reduced annual net cash usage of $30 million by 2026[1].

Core Insights - Cibus is advancing its agricultural technology initiatives, particularly in herbicide tolerance traits for rice, with a targeted commercial launch in Latin America by 2027 and expansion into the U.S. by 2028 [1][3][2] - The company has signed agreements with seven rice customers, representing an estimated 5-7 million addressable acres and a potential annual royalty opportunity exceeding $200 million [2][3] - Cibus is also focusing on entering the Indian market through a partnership with AgVayā, aiming to enhance crop productivity via advanced gene editing [2][3][4] Financial Performance - For the quarter ended September 30, 2025, Cibus reported revenue of $615,000, a decrease from $1.67 million in the same period last year [12][25] - Research and development expenses were $10.8 million, down from $13 million year-over-year, reflecting cost reduction initiatives [12][13] - The net loss for the quarter was $24.3 million, significantly improved from a net loss of $201.5 million in the prior year [12][13] Strategic Developments - Cibus has engaged in pre-commercial pilot runs for biofragrance products, with commercial expansion planned for 2026 [1][3] - The company has consolidated its operations by closing the Oberlin facility and streamlining its focus on partner-funded commercial opportunities, targeting an annual net cash usage of $30 million by 2026 [1][3][12] - New board appointments, including Kimberly A. Box and Craig Wichner, are expected to enhance Cibus' governance and commercial strategy [1][12] Regulatory Environment - The global regulatory landscape for gene editing technologies remains favorable, with advancements in the EU and UK regulatory frameworks for new genomic techniques [3][5] - Cibus has received positive regulatory determinations in Ecuador and the U.S. regarding its herbicide tolerance traits, facilitating commercialization efforts [3][5] Research and Development Initiatives - Cibus is progressing with its HT1 and HT3 herbicide tolerance traits in rice, with field trials and trait registration on track for initial launches in 2027-2028 [3][12] - The company is also developing traits for canola, with positive field trial results for the HT2 trait, which can be stacked with other herbicide resistance traits [10][12]

Core Insights - Cibus, Inc. has elected Craig Wichner to its Board of Directors, emphasizing the company's commitment to long-term shareholder value and business growth [1] - Wichner's expertise in sustainable growth and capital strategy in agriculture is expected to enhance Cibus' market position and shareholder value as the company prepares for commercial scaling of its trait platform [2][3] Company Overview - Cibus is a leader in developing traits that address productivity, yield, and sustainability challenges in agriculture, utilizing proprietary high-throughput gene-editing technologies [4] - The company focuses on licensing plant traits to seed companies rather than being a seed company itself, aiming to reduce the time and cost associated with conventional breeding [4] Leadership Background - Craig Wichner is the Founder and Managing Partner of Farmland LP, managing over $350 million in assets and 19,000 acres, recognized for promoting regenerative and organic farming practices [2][3] - Wichner has a diverse background in technology, real estate investment, and agribusiness development, holding a Bachelor of Science in Biochemistry and Molecular Biology with a minor in Economics [3]

Core Insights - Cibus, Inc. will report its third quarter 2025 financial results on November 13, 2025, with a conference call scheduled for 4:30 p.m. ET to discuss these results and other updates [1][2]. Company Overview - Cibus is a leader in gene-edited productivity traits aimed at addressing significant productivity and sustainability challenges for farmers, particularly concerning diseases and pests, which the UN estimates cost the global economy around $300 billion annually [4]. - The company focuses on developing productivity traits for major global row crops and operates as a technology company rather than a seed company, utilizing proprietary high-throughput gene editing technology to create traits more efficiently and cost-effectively than conventional breeding methods [4]. Conference Call Details - The conference call will require participants to use the conference ID "CIBUS" or 24287 for entry, with dial-in numbers provided for both U.S. and international participants [2]. - A live audio webcast of the call, along with accompanying slides, will be available on the company's investor website, and an archived version will be accessible for 90 days post-event [3].

Cibus Conference Call Summary Company Overview - **Company Name**: Cibus (NasdaqCM: CBUS) - **Industry**: Gene editing in agriculture - **Location**: San Diego, California - **Management Team**: Co-founders Peter Beetham and Greg Gocal, along with key personnel including Noel Sauer (Tech Development) and Carlo Broos (CFO) [2][3] Core Business Focus - **Mission**: To unlock the power of nature through gene editing, enhancing agricultural productivity traits [2][4] - **Core Platforms**: Focus on canola, rice, and soybean for gene editing [5] - **Business Model**: Licensing traits for royalties, collecting fees per acre annually as seeds are sold [6][19] Product Development and Market Strategy - **Productivity Traits**: Development of herbicide-tolerant and disease-resistant crops to improve yield and reduce costs for farmers [6][10] - **Commercialization Timeline**: Traits expected to launch in Latin America by 2027, with a focus on rapid development cycles of 12 to 15 months [8][23] - **Market Potential**: Estimated annual royalties from rice traits could exceed $200 million, with a target of accessing 10% of the global rice market [13][14] Regulatory Environment - **Gene Editing vs. GMO**: Emphasis on the distinction between gene editing (faster, scalable, and favorable regulatory framework) and traditional GMO methods [15][20] - **Global Regulatory Changes**: Positive developments in Europe regarding gene editing regulations, potentially opening significant markets [22] Financial Projections - **Royalty Estimates**: Potential for over $300 million in annual royalties from canola traits, with comparisons to historical data from major players like Monsanto [19][20] - **Market Size**: Rice is the second-largest crop globally, with significant acreage available for gene-edited traits [13] Additional Insights - **Sustainable Ingredients**: Development of bio-based fermentation products and gene-edited oils as part of the broader business strategy [11][24] - **Stakeholder Education**: Ongoing efforts to educate stakeholders about the benefits of gene editing and its similarities to traditional plant breeding [26][27] - **Labeling Concerns**: Discussion on the implications of labeling gene-edited products versus traditional GMO products [28] Conclusion - Cibus is positioned to capitalize on the growing demand for sustainable agricultural solutions through innovative gene editing technologies, with a clear strategy for commercialization and regulatory navigation [24][23]

Core Viewpoint - The collaboration between Cibus, Inc. and AgVayā aims to enhance the adoption of advanced gene editing technologies in India's rice production, addressing agricultural challenges and promoting sustainable practices [1][3][4] Company Overview - Cibus, Inc. is a leading agricultural technology company focused on developing and licensing gene-edited plant traits to improve yields, reduce costs, and promote sustainable farming practices [5] - AgVayā is a strategic growth advisory firm that partners with innovators to drive transformation in agriculture and food businesses [6][7] Industry Context - India is the world's second-largest rice producer and the largest exporter, with around 50 million hectares (125 million acres) cultivated, making rice crucial for the national economy and food security in Asia [2] - The integration of modern gene editing technologies in rice production can lead to lower costs, faster breeding cycles, and reduced pesticide dependence, addressing both opportunities and challenges in the sector [2] Collaboration Details - The partnership will focus on developing strategies to introduce Cibus' gene editing technologies into India's rice seed industry, aiming to create resilient and productive rice varieties [1][3] - Cibus plans to accelerate breeding timelines by over a decade and enhance accessibility to modern seed technologies, supporting the development of climate-resilient, high-yielding rice varieties [3][4] Strategic Goals - The collaboration seeks to foster partnerships with industry and government stakeholders in India to tackle significant agricultural challenges in rice production [1][3] - By leveraging Cibus' innovations and AgVayā's market expertise, the partnership aims to drive scalable improvements in productivity and sustainability within India's rice industry [4]