SAN DIEGO, May 13, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (NASDAQ:CBUS), a leading agricultural biotechnology company that uses proprietary gene editing technologies to develop plant traits (or specific genetic characteristics) in seeds, today announced that Rory Riggs, Co-Founder, Chief Executive Officer, and Chairman, and Peter Beetham, Co-Founder, President, and Chief Operating Officer, will host a presentation at the BMO Global Farm to Market Conference taking place May 15-16, 2024. Presentation detailsDa ...

Cibus, Inc. (NASDAQ:CBUS) Q1 2024 Results Conference Call May 9, 2024 4:30 PM ET Company Participants Wade King - Chief Financial Officer Rory Riggs - Co-Founder, Chief Executive Officer and Chairman Peter Beetham - Co-Founder, President and Chief Operating Officer Conference Call Participants Bobby Burleson - Canaccord Genuity Carol Cheung - Jefferies Steve Byrne - Bank of America Operator Good afternoon, and welcome to the Cibus First Quarter 2024 Results Conference Call. [Operator Instructions] Please al ...

Cibus (CBUS) came out with a quarterly loss of $1.12 per share versus the Zacks Consensus Estimate of a loss of $1.01. This compares to loss of $5.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.89%. A quarter ago, it was expected that this developer and licensor of plant traits for seed companies would post a loss of $1.12 per share when it actually produced a loss of $1.16, delivering a surprise of -3.57%.Over the las ...

General Information [Filing Details](index=1&type=section&id=Filing%20Details) Details Form 10-Q filing information, including registrant identity, stock listing, filer status, and SEC compliance - The registrant is **Cibus, Inc.**, incorporated in Delaware, with Class A Common Stock trading on **The NASDAQ Stock Market LLC** under **CBUS**[37](index=37&type=chunk)[38](index=38&type=chunk) - The company is a **Non-accelerated filer** and a **Smaller reporting company**, not an emerging growth company or shell company[8](index=8&type=chunk)[39](index=39&type=chunk) - The registrant has filed all required reports under Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and past 90 days[7](index=7&type=chunk) [Explanatory Notes and Terms](index=3&type=section&id=Explanatory%20Notes%20and%20Terms) Defines key terms, clarifies company structure post-merger, and details reverse stock split impact on share information - The terms 'Cibus' or 'Company' refer to Cibus, Inc. and its consolidated subsidiaries following the Merger Transactions completed on **May 31, 2023**[4](index=4&type=chunk)[32](index=32&type=chunk) - The Company operates in an 'Up-C' structure, holding membership units of Cibus Global, with Class A Common Stock (voting and economic rights) and Class B Common Stock (voting, no economic rights)[32](index=32&type=chunk)[41](index=41&type=chunk) - All share and per share amounts are retroactively adjusted for a **one-for-ten reverse stock split** (April 24, 2023) and a **one-for-five reverse stock split** (May 31, 2023) prior to the Merger Transactions[34](index=34&type=chunk)[43](index=43&type=chunk)[44](index=44&type=chunk) [Cautionary Note Regarding Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) Advises on forward-looking statements, their inherent risks, and the company's limited obligation to publicly update them - Forward-looking statements are based on currently available information and speak only as of the report date, with no obligation for public updates[17](index=17&type=chunk) - Actual results may differ materially due to factors including funding needs, competition, intellectual property, third-party reliance, regulatory changes, and macroeconomic conditions[305](index=305&type=chunk) [Market Data and Website Disclosure](index=5&type=section&id=Market%20Data%20and%20Website%20Disclosure) Clarifies market data sources and reliability, and details company's use of website and social media for routine information - Market data and industry statistics are based on independent publications and internal estimates, with no guarantee of third-party information accuracy[18](index=18&type=chunk) - The Company uses its website (www.cibus.com), corporate X account (@CibusGlobal), and LinkedIn for routine information distribution[316](index=316&type=chunk) PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) Presents unaudited condensed consolidated financial statements for Q1 2024, with notes on accounting policies, merger impact, and financial instrument valuations [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) | Assets/Liabilities | March 31, 2024 (Thousands) | December 31, 2023 (Thousands) | | :----------------- | :------------------------- | :---------------------------- | | **Assets** | | | | Total current assets | $26,717 | $35,220 | | Property, plant, and equipment, net | $14,657 | $15,775 | | Goodwill | $434,898 | $434,898 | | Total assets | $533,034 | $544,411 | | **Liabilities** | | | | Total current liabilities | $21,722 | $21,323 | | Royalty liability - related parties | $173,581 | $165,252 | | Total liabilities | $213,207 | $206,117 | | **Equity** | | | | Total stockholders' equity | $278,217 | $293,470 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) | Metric | Three Months Ended March 31, 2024 (Thousands) | Three Months Ended March 31, 2023 (Thousands) | | :----- | :------------------------------------------ | :------------------------------------------ | | Revenue | $545 | $42 | | Research and development | $12,013 | $2,209 | | Selling, general, and administrative | $6,985 | $2,296 | | Loss from operations | $(18,453) | $(4,463) | | Royalty liability interest expense - related parties | $(8,329) | $0 | | Net loss | $(26,972) | $(5,394) | | Net loss attributable to Cibus, Inc. | $(23,435) | $(5,394) | | Basic and diluted net loss per share of Class A common stock | $(1.12) | $(5.46) | [Condensed Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) | Metric | Three Months Ended March 31, 2024 (Thousands) | Three Months Ended March 31, 2023 (Thousands) | | :----- | :------------------------------------------ | :------------------------------------------ | | Net loss | $(26,972) | $(5,394) | | Foreign currency translation adjustments | $(28) | $0 | | Comprehensive loss | $(27,000) | $(5,394) | | Comprehensive loss attributable to Cibus, Inc. | $(23,460) | $(5,394) | [Condensed Consolidated Statements of Redeemable Noncontrolling Interest and Stockholders' Equity](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Redeemable%20Noncontrolling%20Interest%20and%20Stockholders'%20Equity) | Metric | Balance at Dec 31, 2023 (Thousands) | Net Loss (Thousands) | Stock-based Compensation (Thousands) | Balance at Mar 31, 2024 (Thousands) | | :----- | :---------------------------------- | :------------------- | :----------------------------------- | :---------------------------------- | | Redeemable Noncontrolling Interest | $44,824 | $(3,537) | $0 | $41,610 | | Additional Paid-In Capital | $775,017 | $0 | $2,528 | $783,351 | | Accumulated Deficit | $(479,778) | $(23,435) | $0 | $(503,213) | | Total Stockholders' Equity | $293,470 | $(23,435) | $2,528 | $278,217 | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) | Activity | Three Months Ended March 31, 2024 (Thousands) | Three Months Ended March 31, 2023 (Thousands) | | :------- | :------------------------------------------ | :------------------------------------------ | | Net cash used by operating activities | $(13,480) | $(2,375) | | Net cash used by investing activities | $(228) | $0 | | Net cash provided by financing activities | $5,519 | $903 | | Net decrease in cash and cash equivalents | $(8,192) | $(1,472) | | Cash and cash equivalents – end of period | $24,507 | $2,054 | [Notes to the Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [Note 1. Nature of Business & Summary of Significant Accounting Policies](index=12&type=section&id=Note%201.%20Nature%20of%20Business%20%26%20Summary%20of%20Significant%20Accounting%20Policies) - Cibus, Inc. completed Merger Transactions with Cibus Global, LLC on **May 31, 2023**, consolidating Cibus Global's financial results as a plant trait company using gene editing technologies[308](index=308&type=chunk)[93](index=93&type=chunk) - The Company incurred a **net loss of $27.0 million** and used **$13.5 million cash in operating activities** for Q1 2024, anticipating continued losses and needing additional capital to continue as a going concern[98](index=98&type=chunk)[167](index=167&type=chunk) Deferred Revenue Activity (Thousands) | Metric | Deferred Revenue | | :----- | :--------------- | | Balance as of December 31, 2023 | $1,210 | | Consideration earned | $(545) | | Consideration received | $795 | | Balance as of March 31, 2024 | $1,460 | [Note 2. Merger with Cibus Global](index=17&type=section&id=Note%202.%20Merger%20with%20Cibus%20Global) - The Merger Transactions with Cibus Global were completed on **May 31, 2023**, resulting in Legacy Calyxt stockholders holding **~4.8%** and Cibus Global equityholders **~95.2%** of the

Important EU Parliament vote on gene editing continues global momentum for the approval of new genomic techniques (NGTs) as similar to conventional breeding Completed single cell regeneration platform for Wheat – with Canola & Rice, Cibus now has its semiautomated crop platform operational for 3 of the top 5 major crops Continued progress with customers toward commercializing Pod Shatter Reduction (PSR) trait in Canola Cibus was recognized by Fast Company as one of the world's most innovative companies of 2 ...

SAN DIEGO, April 25, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS), a leading agricultural biotechnology company that uses proprietary gene editing technologies to develop plant traits (or specific genetic characteristics) in seeds, today announced that the company will report first quarter 2024 financial results on Thursday, May 9, 2024. Cibus’ management team will host a conference call and audio webcast at 4:30 p.m. ET on that day to discuss the financial results and other company updates. Title: C ...

Cibus (CBUS) came out with a quarterly loss of $1.16 per share versus the Zacks Consensus Estimate of a loss of $1.12. This compares to loss of $3 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.57%. A quarter ago, it was expected that this genetically modified food company would post a loss of $1.18 per share when it actually produced a loss of $1.59, delivering a surprise of -34.75%.Over the last four quarters, the compan ...

Cibus, Inc. (NASDAQ:CBUS) Q4 2023 Results Conference Call March 21, 2024 4:30 PM ET Company Participants Wade King - Chief Financial Officer Rory Riggs - Co-Founder, Chief Executive Officer and Chairman Peter Beetham - Co-Founder, President and Chief Operating Officer Conference Call Participants Bobby Burleson - Canaccord Genuity Sameer Joshi - H.C. Wainwright Operator Good afternoon, and welcome to the Cibus Fourth Quarter 2023 Results Conference Call. All participants will be in a listen only mode. After ...

Cibus is currently in the process of developing an RTDS platform for Soybean. Its soybean single-cell regeneration platform is now expected to be operational, and have initial editing completed, in 2024. | --- | --- | --- | --- | --- | --- | --- | |-------------------------|------------------------|---------------------------|-------------------------------------------------|------------------------------------|--------------------------------------------|---------------------------------------------------- ...

• Opened Dedicated, High-throughput Gene Editing Facility for Trait Production ◦ Supports vision to change the precision, speed, and scale, and range of Cibus' growing RTDS crop and trait development pipeline ◦ Represents the industry's first semi-automated gene editing trait production system that provides a timebound, predictable, and reproducible breeding system for the editing of commercial plants • Raised $20.3 million of gross proceeds in December 2023 ◦ Cibus intends to use the net proceeds to fund f ...