PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=5&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The company presents its unaudited condensed consolidated financial statements for the period ended June 30, 2025, reporting a net loss of **$76.0 million**, including a **$21.0 million** goodwill impairment, and highlighting a "Going Concern" issue due to the need for additional capital [Financial Statements Overview](index=6&type=section&id=Financial%20Statements%20Overview) This section provides an overview of the company's financial statements, showing a net loss of **$76.0 million** for the first half of 2025, a slight decrease in total assets, and increased cash from financing activities Condensed Consolidated Balance Sheet Highlights (in Thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $36,463 | $14,433 | | Total current assets | $39,839 | $16,946 | | Goodwill | $232,516 | $253,466 | | Total assets | $346,198 | $350,069 | | Total current liabilities | $22,423 | $19,878 | | Royalty liability - related parties | $216,487 | $199,442 | | Total liabilities | $271,722 | $252,238 | | Total stockholders' equity | $74,476 | $92,157 | Condensed Consolidated Statements of Operations Highlights (in Thousands) | Account | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Revenue | $1,967 | $1,383 | | Research and development | $24,027 | $25,006 | | Selling, general, and administrative | $16,507 | $16,312 | | Goodwill impairment | $20,950 | $0 | | Loss from operations | ($59,517) | ($39,935) | | Net loss | ($75,950) | ($55,450) | | Net loss attributable to Cibus, Inc. stockholders | ($72,258) | ($48,318) | | Basic and diluted net loss per share | ($1.88) | ($2.26) | Condensed Consolidated Statements of Cash Flows Highlights (in Thousands) | Account | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($25,431) | ($30,528) | | Net cash used in investing activities | ($384) | ($397) | | Net cash provided by financing activities | $47,831 | $28,252 | | Net increase (decrease) in cash | $22,030 | ($2,678) | [Note 1. Nature of Business & Summary of Significant Accounting Policies](index=13&type=section&id=Note%201.%20Nature%20of%20Business%20%26%20Summary%20of%20Significant%20Accounting%20Policies) This note describes the company's gene editing business, highlights a "Going Concern" issue due to historical losses and capital needs, and details recent restructuring and financing efforts - The company has incurred losses since inception and management has concluded there is **substantial doubt** about its ability to continue as a going concern for at least one year from the issuance of these financial statements without raising **additional capital**[41](index=41&type=chunk)[46](index=46&type=chunk)[49](index=49&type=chunk) - In late 2024 and June 2025, the company initiated **restructuring and streamlining initiatives** to **reduce costs** and focus capital on advancing its weed management traits for Rice[47](index=47&type=chunk)[48](index=48&type=chunk) - The company raised net proceeds of approximately **$21.4 million** in a January 2025 offering and **$25.0 million** in a June 2025 offering[45](index=45&type=chunk) [Note 4. Goodwill and Intangible Assets](index=23&type=section&id=Note%204.%20Goodwill%20and%20Intangible%20Assets) This note details a **$21.0 million** goodwill impairment charge in the first half of 2025, triggered by a stock price decline, leaving a remaining balance of **$232.5 million** - A goodwill impairment charge of **$21.0 million** was recorded for the six months ended June 30, 2025[106](index=106&type=chunk) - The impairment was the result of a Triggering Event, specifically the **decline in the company's stock price**, which indicated that the fair value of the reporting unit was likely below its carrying value[57](index=57&type=chunk)[107](index=107&type=chunk) [Note 5. Stockholders' Equity](index=25&type=section&id=Note%205.%20Stockholders%27%20Equity) This note outlines significant changes in stockholders' equity, including **$21.4 million** and **$25.0 million** raised from 2025 offerings and the reclassification of warrants due to an exercise price reduction - In January 2025, the company raised net proceeds of approximately **$21.4 million** by issuing **4.34 million shares** of Class A Common Stock and **4.7 million pre-funded warrants**[115](index=115&type=chunk)[116](index=116&type=chunk) - In June 2025, the company raised net proceeds of approximately **$25.0 million** by issuing **15.7 million shares** of Class A Common Stock at **$1.75 per share**[119](index=119&type=chunk) - The exercise price for 1,198,040 of the 2024 Common Warrants was reduced to **$2.50 per share**, and these warrants were subsequently **reclassified from a liability to stockholders' equity**[113](index=113&type=chunk)[114](index=114&type=chunk) [Note 12. Subsequent Events](index=32&type=section&id=Note%2012.%20Subsequent%20Events) This note reports a post-quarter workforce reduction of approximately **34** employees, expected to incur **$0.5 million** in one-time severance charges in the second half of 2025 - A workforce reduction of approximately **34 full-time employees** was approved on July 21, 2025, to be completed by December 31, 2025[155](index=155&type=chunk) - The company estimates it will incur approximately **$0.5 million** in one-time charges for severance and other payments related to the workforce reduction[155](index=155&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's strategic shift to focus on Rice traits and cost reductions, highlighting a wider net loss due to a **$21.0 million** goodwill impairment and reiterating going concern doubts with cash projected into Q2 2026 [Overview and Business Update](index=33&type=section&id=Overview%20and%20Business%20Update) This section outlines Cibus's streamlined focus on Rice weed management traits, aiming for **$200 million** in annual royalties and reducing net cash usage to **$30.0 million** by 2026, alongside key regulatory and collaboration achievements - The company has **streamlined its operational focus** to concentrate working capital on its weed management traits for Rice[159](index=159&type=chunk) - Cost reduction initiatives are expected to reduce the company's annual net cash usage to approximately **$30.0 million** by 2026[161](index=161&type=chunk) - Recent business developments include a **new collaboration with Semillano** to advance Rice traits in Latin America, with **initial commercial launches targeted for 2027**[165](index=165&type=chunk) - The company achieved **positive regulatory milestones**, including approval for the first planting of gene-edited Rice in California and a USDA-APHIS designation that two Canola traits are **not regulated as GMOs**[168](index=168&type=chunk) [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Revenue increased **42%** to **$2.0 million** for the first half of 2025, but the net loss widened to **$75.95 million** primarily due to a **$21.0 million** goodwill impairment charge Results of Operations Comparison (Three Months Ended June 30, in Thousands) | In Thousands | 2025 | 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $933 | $838 | $95 | 11% | | Research and development | $12,228 | $12,993 | ($765) | (6)% | | Selling, general, and administrative | $6,651 | $9,327 | ($2,676) | (29)% | | Loss from operations | ($17,946) | ($21,482) | $3,536 | 16% | | Net loss | ($26,558) | ($28,478) | $1,920 | 7% | Results of Operations Comparison (Six Months Ended June 30, in Thousands) | In Thousands | 2025 | 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $1,967 | $1,383 | $584 | 42% | | Research and development | $24,027 | $25,006 | ($979) | (4)% | | Selling, general, and administrative | $16,507 | $16,312 | $195 | 1% | | Goodwill impairment | $20,950 | $0 | $20,950 | NM | | Loss from operations | ($59,517) | ($39,935) | ($19,582) | (49)% | | Net loss | ($75,950) | ($55,450) | ($20,500) | (37)% | - The increase in net loss for the first six months of 2025 was primarily driven by a **$21.0 million goodwill impairment charge**[189](index=189&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company held **$36.5 million** in cash, but management projects this is insufficient for 12 months, raising substantial doubt about its going concern ability, with cash expected to last into Q2 2026 - As of June 30, 2025, the company had **$36.5 million** in cash and cash equivalents[197](index=197&type=chunk) - Management believes that existing cash is **not sufficient to fund operations for 12 months** and that this raises **substantial doubt about the company's ability to continue as a going concern**[214](index=214&type=chunk)[215](index=215&type=chunk) - The company's current cash runway is expected to fund planned operating expenses into the **second quarter of 2026**[214](index=214&type=chunk) Cash Flow Summary (Six Months Ended June 30, in Thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($25,431) | ($30,528) | | Net cash used in investing activities | ($384) | ($397) | | Net cash provided by financing activities | $47,831 | $28,252 | [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - The company's principal executive officer and principal financial officer concluded that disclosure controls and procedures were **effective** as of June 30, 2025[221](index=221&type=chunk) - **No material changes** in internal control over financial reporting occurred during the three months ended June 30, 2025[222](index=222&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company is not a party to any material pending legal proceedings, but has accrued a **$3.0 million** liability for potential repayment of insurance proceeds - The company is **not a party to any material pending legal proceedings** as of June 30, 2025[223](index=223&type=chunk) - Despite no material pending proceedings, the company has **accrued an estimated $3.0 million** for a litigation liability related to a potential repayment of previously awarded insurance coverage proceeds[148](index=148&type=chunk)[218](index=218&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) This section introduces new risks associated with the company's streamlined business focus, including potential operational challenges and dependence on market demand assumptions - A **new risk factor** was added concerning the company's streamlined business focus, which may result in **operational and strategic challenges**[225](index=225&type=chunk) - Potential challenges include **loss of institutional knowledge**, adverse effects on operations, **unplanned attrition**, and **reduced employee morale** due to cost reduction actions[226](index=226&type=chunk) - The success of the streamlined strategy is **contingent on management's assumptions** regarding market demand and competition, which are **subject to uncertainty**[227](index=227&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the quarter ended June 30, 2025, the company neither issued any unregistered equity securities nor repurchased any of its own equity securities - The company **did not issue any unregistered equity securities** during the period covered by the report[228](index=228&type=chunk) - The company **did not repurchase any shares** of its Class A or Class B Common Stock during the quarter[229](index=229&type=chunk) [Item 5. Other Information](index=42&type=section&id=Item%205.%20Other%20Information) This section reports that no Rule 10b5-1 trading plans were adopted or terminated, and Mark Finn was appointed Chairman of the Board on August 6, 2025 - On August 6, 2025, the company's Board of Directors appointed **Mark Finn as its Chairman**[230](index=230&type=chunk) [Item 6. Exhibits](index=43&type=section&id=Item%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including agreements related to recent financing, corporate governance documents, and required SEC certifications - The report includes a **list of filed exhibits**, such as agreements related to recent financing, corporate governance documents, and required SEC certifications[231](index=231&type=chunk)

[Q2 2025 Business and Financial Highlights](index=1&type=section&id=Cibus%20Reports%20Second%20Quarter%20Financial%20Results%20and%20Provides%20Year-to-Date%20Business%20Update%20for%202025) Cibus reports Q2 2025 business and financial highlights, focusing on Rice trait advancement, sustainable ingredients, and capital raising for cash runway extension - Operational focus is being streamlined to Rice herbicide tolerance traits and partner-funded programs, targeting a reduction in annual cash usage to **~$30 million** by 2026[1](index=1&type=chunk) - Commercial launch of Rice herbicide tolerance traits (HT1, HT3) is on track, targeting Latin America in 2027 and the U.S. in 2028, with potential annual royalties over **$200 million**[1](index=1&type=chunk) - Raised **$27.5 million** in gross proceeds from a public offering to extend the cash runway and advance toward initial revenues[1](index=1&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management emphasizes advancing Rice herbicide tolerance traits and sustainable ingredients, targeting 2027-2028 commercialization and reduced cash usage by 2026 - The company is focusing on two core priorities: Rice herbicide tolerance traits and a partner-funded sustainable ingredients program[2](index=2&type=chunk) - Cost streamlining initiatives are expected to reduce annualized cash usage to approximately **$30 million** by 2026[2](index=2&type=chunk) - A new collaboration agreement was signed with Colombian Rice producer Semillano, indicating progress in customer engagement and market penetration[4](index=4&type=chunk) [Operational Progress and Regulatory Update](index=2&type=section&id=Commercial%20Progress%20for%20Priority%20Programs%20and%20Global%20Regulatory%20Developments) The company details commercial progress for priority programs, advancements in opportunity pipeline traits, and favorable global regulatory developments for gene editing [Priority Pipeline Programs](index=2&type=section&id=Priority%20Pipeline%20Traits%20and%20Programs) Significant progress is reported for Rice herbicide tolerance traits and partner-funded sustainable ingredients, with commercial launches on schedule and nominal revenues anticipated - The Rice herbicide tolerance traits (HT1, HT3) program is on track for initial commercial launches in Latin America (2027-2028) and the U.S. (2028)[7](index=7&type=chunk) - Completed delivery of Rice lines with the HT3 trait to an existing US customer and signed a new collaboration agreement with Colombian Rice producer Semillano[7](index=7&type=chunk) - The sustainable ingredients program is on track for nominal revenues in 2025, with targeted commercial expansion in 2026[7](index=7&type=chunk) [Opportunity Pipeline Programs (Available for Partnership)](index=3&type=section&id=Opportunity%20Pipeline%20Traits%20and%20Programs) Cibus highlights a deep pipeline of traits available for partnership, including promising results in Canola, Soybean, and Wheat, alongside regulatory clearances - Canola traits, including pod shatter resistance and next-generation HT2, are showing promising results in trials and are available for partnership[12](index=12&type=chunk) - Successfully edited a Soybean cell for the HT2 trait, enabling expanded development of the Soybean platform[15](index=15&type=chunk) - Successfully regenerated plants from single cells in a wheat cultivar, creating potential for partner-funded development in wheat[15](index=15&type=chunk) - The FDA issued a "no-further-questions" letter for the altered lignin alfalfa trait, clearing the path for U.S. commercialization by partner S&W Seed Company[15](index=15&type=chunk) [Global Regulatory Developments](index=2&type=section&id=Global%20Regulatory%20Development) The global regulatory environment for gene editing remains favorable, with key approvals in Ecuador, USDA-APHIS, and California for Cibus' traits - Ecuador's Ministry of Agriculture determined that Cibus' HT1 and HT3 Rice traits are equivalent to conventionally bred seeds[11](index=11&type=chunk) - USDA-APHIS designated Cibus' HT2 herbicide-tolerance trait in canola as "not regulated," marking the 17th Cibus trait to receive this designation[11](index=11&type=chunk) - The California Rice Commission approved Cibus' field research proposal, marking the first time gene-edited Rice has been authorized for planting in California[11](index=11&type=chunk) [Expected 2025 Milestones](index=4&type=section&id=Expected%20Milestones%20for%20Priority%20Pipeline%20Traits%20and%20Programs) Cibus anticipates expanding Rice program customer relationships, conducting Latin American trials, and generating nominal revenues from biofragrance products in 2025 - **Rice Program:** Expect first trait validation trials and delivery of initial traits to a Latin American customer by the end of **2025**[18](index=18&type=chunk) - **Sustainable Ingredients:** Expect to receive nominal revenues in **2025** from the commercialization of biofragrance products[18](index=18&type=chunk) [Second Quarter 2025 Financial Results](index=5&type=section&id=Second%20Quarter%202025%20Financial%20Results) This section presents Cibus' Q2 2025 financial performance, detailing net loss, operating expenses, and cash position, alongside comprehensive financial statements [Financial Performance Summary](index=5&type=section&id=Financial%20Performance%20Summary) Cibus reported a reduced net loss in Q2 2025 due to lower operating expenses, ending the quarter with $36.5 million in cash, extending its runway into Q2 2026 - Cash and cash equivalents were **$36.5 million** as of June 30, 2025. This is expected to fund planned operating expenses into the second quarter of 2026[18](index=18&type=chunk) Financial Performance Summary (in Millions) | Financial Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | R&D Expense | $12.2M | $13.0M | ($0.8M) | | SG&A Expense | $6.6M | $9.3M | ($2.7M) | | Net Loss | ($26.6M) | ($28.5M) | $1.9M | | Net Loss Per Share | ($0.61) | ($1.14) | $0.53 | [Financial Statements](index=9&type=section&id=Financial%20Statements) The financial statements provide a detailed overview of the company's balance sheet, statement of operations, and cash flows for Q2 2025 and year-to-date [Condensed Consolidated Balance Sheets](index=9&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) The balance sheets present the company's financial position, detailing assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheets (in thousands) | Balance Sheet Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $36,463 | $14,433 | | Total current assets | $39,839 | $16,946 | | Total assets | $346,198 | $350,069 | | Total current liabilities | $22,423 | $19,878 | | Total liabilities | $271,722 | $252,238 | | Total stockholders' equity | $74,476 | $92,157 | [Condensed Consolidated Statements of Operations](index=11&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) The statements of operations detail revenue, expenses, and net loss for the three months ended June 30, 2025, and the prior year period Condensed Consolidated Statements of Operations (in thousands) | Statement of Operations Item | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Revenue | $933 | $838 | | Research and development | $12,228 | $12,993 | | Selling, general, and administrative | $6,651 | $9,327 | | Loss from operations | ($17,946) | ($21,482) | | Net loss | ($26,558) | ($28,478) | | Net loss per share | ($0.61) | ($1.14) | [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) The cash flow statements outline net cash used in operating and investing activities, and cash provided by financing activities for the six months ended June 30, 2025 Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Item | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($25,431) | ($30,528) | | Net cash used in investing activities | ($384) | ($397) | | Net cash provided by financing activities | $47,831 | $28,252 | | Net increase (decrease) in cash | $22,030 | ($2,678) | | Cash and cash equivalents – end of period | $36,463 | $30,021 | [Company Information](index=6&type=section&id=About%20Cibus) This section provides an overview of Cibus' business model as an agricultural technology company and includes standard forward-looking statements [About Cibus](index=6&type=section&id=About%20Cibus) Cibus is an agricultural technology company specializing in gene-editing plant traits, licensing them to seed companies for royalties - Cibus is a technology company that develops and licenses plant traits to seed companies for royalties, rather than being a seed company itself[23](index=23&type=chunk) - The company's core technology is its proprietary high-throughput breeding process (Trait Machine™), which is an application of its patented Rapid Trait Development System™ (RTDS®)[24](index=24&type=chunk) [Forward-Looking Statements](index=7&type=section&id=Forward%20Looking%20Statements) This section contains standard forward-looking statements, cautioning about risks and uncertainties that could cause actual results to differ materially - The press release contains forward-looking statements regarding operational performance, liquidity, cost savings, and future revenues, which are subject to significant risks and uncertainties[27](index=27&type=chunk) - Key risks include the need for additional near-term funding, competition, intellectual property protection, reliance on third-party partners, and regulatory developments[28](index=28&type=chunk)[30](index=30&type=chunk)

Core Insights - Cibus is focusing on the commercialization of Rice herbicide tolerance traits HT1 and HT3, with initial launches planned in Latin America in 2027 and the U.S. in 2028, potentially generating over $200 million in annual royalties [1][2][3] - The company aims to reduce annual cash usage to approximately $30 million by 2026 through operational streamlining [1][2] - Cibus raised $27.5 million in gross proceeds from a public offering, extending its cash runway as it approaches initial revenue generation [1][10] Financial Performance - For the quarter ended June 30, 2025, Cibus reported a net loss of $26.6 million, compared to a net loss of $28.5 million in the same period last year [20][27] - Revenue for the quarter was $933,000, an increase from $838,000 year-over-year [27] - Research and development expenses decreased to $12.2 million from $13.0 million, while selling, general, and administrative expenses fell to $6.6 million from $9.3 million, primarily due to cost reduction initiatives [13][27] Operational Updates - Cibus has signed a collaboration agreement with Colombian Rice producer Semillano and completed the delivery of three germplasm lines with the Cibus HT3 trait to an existing customer [1][3] - The company is on track for nominal revenues from its sustainable ingredients program in 2025, with targeted commercial expansion planned for 2026 [1][5][7] - The global regulatory environment for gene editing technologies remains supportive, with positive developments in various markets including the EU, Ecuador, India, and the U.S. [1][4][7] Strategic Focus - Cibus is concentrating on its core priorities: advancing Rice herbicide tolerance traits and partner-funded sustainable ingredients programs [2][3] - The company is expanding its trait pipeline and exploring additional opportunities for partner-funded programs [5][6] - Cibus is committed to operational efficiencies and building a foundation for sustainable growth to generate long-term shareholder value [2][3]

Core Insights - Cibus, Inc. will report its second quarter 2025 financial results on August 14, 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 leading agricultural technology company focused on developing and licensing plant traits to seed companies, utilizing proprietary high-throughput gene editing technology [4]. - The company addresses critical productivity and sustainability challenges for farmers, particularly diseases and pests, which the United Nations estimates cost the global economy approximately $300 billion annually [4]. - Cibus is not a seed company but a technology company that licenses its innovations to seed companies in exchange for royalties on seed sales [4].

Core Insights - Cibus, Inc. is implementing a reduction in force (RIF) as part of its strategy to streamline operations and focus on commercial opportunities in rice and biofragrance products, aiming to reduce annual net cash usage to approximately $30 million by 2026 [1][2][3] Group 1: Business Strategy - The RIF is expected to incur one-time charges of approximately $0.5 million in Q3 2025, aligning with the company's focus on optimizing its Trait Machine gene editing processes [1][2] - Cibus is prioritizing the commercial advancement of its HT1 and HT3 weed management traits in rice, while also advancing sustainable ingredients and bio-based fermentation fragrance products [2][3] Group 2: Market Position and Opportunities - Cibus is positioned to pursue partner funding to support its advanced productivity trait portfolio, which includes traits for disease resistance in canola, winter oilseed rape (WOSR), and soybean [1][3] - The company emphasizes its role as a technology provider rather than a seed company, utilizing proprietary gene editing technology to develop traits more efficiently than conventional breeding methods [4]

Core Insights - Cibus, Inc. has completed the FDA's Plant Biotechnology Consultation Program for its altered lignin alfalfa trait, receiving confirmation that it is suitable for food and feed applications [1][3] - The collaboration with S&W Seed Company aims to enhance alfalfa's nutrient availability for livestock and provide farmers with greater flexibility in harvest timing, leading to increased profitability [2][3] - S&W Seed Company plans to offer the first commercial gene-edited alfalfa varieties in the U.S., with two initial varieties available for purchase and planting soon [3] Company Overview - Cibus is a leader in gene-edited productivity traits, focusing on addressing critical challenges in agriculture, such as diseases and pests, which cost the global economy approximately $300 billion annually [4] - The company utilizes proprietary high-throughput gene editing technology to develop traits more efficiently than conventional breeding methods, licensing these traits to seed companies for royalties [4] - S&W Seed Company, founded in 1980, is a multi-crop agricultural company that focuses on proprietary seed development, particularly in sorghum and alfalfa, to meet the growing demand for animal proteins and healthier diets [5]

Core Insights - Cibus, in collaboration with the John Innes Centre (JIC), has discovered a genetic mutation that enhances nutrient uptake and reduces the need for artificial fertilizers [1][2][3] - The nutrient use efficiency (NUE) trait aims to improve crop yields while decreasing the reliance on nitrates and phosphates [1][4] - Cibus has successfully edited Canola plants with this mutation and is looking forward to further testing and validation [1][3] Company Overview - Cibus is a leading agricultural technology company focused on developing and licensing plant traits to seed companies for royalties [1][7] - The company utilizes proprietary high-throughput gene editing technology to create crop traits more efficiently than conventional breeding methods [7] - Cibus addresses critical productivity and sustainability challenges in agriculture, with an estimated global economic loss of approximately $300 billion annually due to diseases and pests [7] Research and Development - The collaboration with JIC aims to translate their discovery into a trait that enhances plant-microbe interactions, thereby boosting nutrient uptake [2][3] - The NUE trait is expected to lead to more productive and sustainable crops, allowing farmers to use less fertilizer while maintaining yields [3][4] - JIC's research highlights the inefficiency of plants in nutrient absorption, with only about one-third of applied fertilizer typically absorbed [3]

Core Insights - Cibus, Inc. has successfully closed a public offering of 15,714,285 shares of Class A Common Stock at a price of $1.75 per share, raising gross proceeds of $27.5 million [1][2] Company Overview - Cibus is a leading agricultural biotechnology company focused on developing plant traits through proprietary gene editing technologies, addressing productivity and sustainability challenges for farmers [6] - The company is not a seed company but a technology company that licenses developed crop traits to seed companies in exchange for royalties on seed sales [6] Use of Proceeds - The net proceeds from the offering will be utilized for the development of weed management productivity traits in rice, as well as for working capital and general corporate purposes [2] Offering Details - The offering was conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, with A.G.P./Alliance Global Partners acting as the sole placement agent [3][4]

Core Insights - Cibus, Inc. has received a "not regulated" designation from the USDA for its herbicide tolerance trait (HT2) in Canola, which supports the company's ongoing product development in this critical crop [1][2] - The HT2 trait is part of Cibus' strategy to provide advanced tools for weed management, addressing the challenge of herbicide-resistant weeds [2][3] - Cibus has a total of seventeen traits designated as not regulated, reflecting its successful regulatory progress and development pace [2] Company Overview - Cibus is a leader in gene-edited productivity traits aimed at addressing significant agricultural challenges, including diseases and pests, which cost the global economy approximately $300 billion annually [4] - The company focuses on developing productivity traits for major row crops and utilizes proprietary high-throughput gene editing technology to expedite the development process [4] Market Implications - The HT2 trait aims to enhance agricultural productivity and sustainability by improving weed management efficiency, which is crucial for crops like Canola and Soybean [3] - Cibus' advancements in herbicide tolerance traits are expected to benefit growers by increasing profitability and yield protection [3]

Core Viewpoint - Cibus, Inc. has announced a public offering of 15,714,285 shares of its Class A Common Stock at a price of $1.75 per share, aiming to raise approximately $27.5 million for further development and working capital [1][2]. Company Overview - Cibus is a leading agricultural biotechnology company specializing in gene editing technologies to develop plant traits in seeds, focusing on productivity traits for major crops [6]. - The company addresses significant agricultural challenges, including diseases and pests, which the United Nations estimates cost the global economy around $300 billion annually [6]. - Cibus operates as a technology company rather than a seed company, licensing its developed traits to seed companies for royalties on seed sales [6]. Offering Details - The offering consists solely of shares sold by Cibus, with gross proceeds expected to be approximately $27.5 million before expenses [2]. - The offering is anticipated to close on or about June 6, 2025, pending customary closing conditions [2]. - A.G.P./Alliance Global Partners is acting as the sole placement agent for this offering [3]. Use of Proceeds - The net proceeds from the offering will be utilized to fund the development of weed management productivity traits in rice and for general corporate purposes [2]. Regulatory Information - The offering is made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, with a prospectus supplement to be filed [4].