Core Viewpoint - Cibus, Inc. has announced a securities purchase agreement to sell 9,040,000 shares of Class A Common Stock at a price of $2.50 per share, aiming to raise approximately $22.6 million for further development of its agricultural biotechnology pipeline and general corporate purposes [1][2]. Group 1: Offering Details - The offering includes pre-funded warrants and warrants to purchase an aggregate of 9,040,000 shares of Class A Common Stock, with the warrants exercisable upon stockholder approval at a price of $2.50 per share [1]. - The gross proceeds from the offering are expected to be around $22.6 million before deducting fees and expenses, with the offering anticipated to close on or about January 24, 2025 [2]. - A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering [3]. Group 2: Investor Warrants - Certain investors in the offering hold outstanding warrants to purchase up to 1,198,040 shares of Class A Common Stock, with the exercise price being reduced from $10.00 to $2.50 per share [4]. - The threshold for the redemption provision of the Investor Warrants has been lowered to $5.00 per share, and the termination date has been extended to five years following the closing of the offering [4]. Group 3: Company Overview - Cibus is a leader in gene editing technology focused on developing productivity traits for major global row crops, addressing challenges such as diseases and pests that cost the global economy approximately $300 billion annually [7]. - The company is not a seed company but a technology company that licenses traits to seed companies in exchange for royalties on seed sales [7]. - Cibus has developed a pipeline of five productivity traits, with some traits already in commercial development with leading seed companies [8].

SAN DIEGO, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the “Company” or “Cibus”), a leading agricultural biotechnology company that uses proprietary gene editing technologies to develop plant traits (or specific genetic characteristics) in seeds, today announced it has entered into securities purchase agreements with existing investors of the Company, including institutional and strategic investors, as well as with the Company’s CEO, Rory Riggs, for the purchase and sale of 9,040,000 share ...

Culmination of Advances in Gene Editing Efficiency and Process Improvements Drives Standardization of Cibus’ Gene Editing System Delivering Traits in a Customer’s Elite Germplasm in less than 12 Months Cibus Announces Editing Milestone in the Continuing Development of its Soybean Platform SAN DIEGO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the “Company”), a leading agricultural technology company that develops and licenses plant traits to seed companies for royalties, today announced th ...

Culmination of Advances in Gene Editing Efficiency and Process Improvements Drives Standardization of Cibus' Gene Editing System Delivering Traits in a Customer's Elite Germplasm in less than 12 Months Cibus Announces Editing Milestone in the Continuing Development of its Soybean Platform SAN DIEGO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Cibus, Inc. (NASDAQ:CBUS) (the "Company"), a leading agricultural technology company that develops and licenses plant traits to seed companies for royalties, today announced tha ...

Core Insights - Cibus, in collaboration with Albaugh and RTDC, is advancing the commercialization of its Clethodim-tolerant HT-3 rice trait, aimed at providing a new weed management solution for U.S. rice farmers [1][2][3] - The HT-3 trait is a significant breakthrough in herbicide tolerance, expected to be the first of several stacked traits for improved weed management in rice [2] - Cibus is currently working with four seed partners for the HT-3 trait, including two in the U.S. and two in South America, and is in discussions with major rice seed companies in Asia [2] Company Overview - Cibus is a technology company specializing in gene editing to develop and license plant traits, focusing on productivity traits for major global row crops such as rice, canola, and soybean [4] - The company aims to address critical productivity and sustainability challenges for farmers, with an estimated global economic cost of $300 billion annually due to diseases and pests [4] - Cibus has a pipeline of five productivity traits, including those for weed management in rice, pod shatter reduction, and disease resistance [4]

Core Insights - Cibus, in collaboration with Albaugh and RTDC, is advancing the commercialization of its Clethodim-tolerant HT-3 rice trait, aimed at providing a new weed management solution for U.S. rice farmers [1][2][3] - The HT-3 trait is a significant breakthrough in herbicide tolerance, expected to be the first of several stacked weed management traits for rice, with four current seed partners and discussions ongoing with major rice seed companies in Asia [2][3] Company Overview - Cibus is a technology company specializing in gene editing to develop and license plant traits, focusing on productivity traits for major global row crops like canola, rice, and soybean [4] - The company aims to address critical agricultural challenges, with a pipeline that includes five productivity traits, particularly in weed management for rice [4]

Cibus and Biographica to collaborate on identifying gene editing targets for Cibus’ disease resistance trait development Biographica’s proprietary AI platform linked with Cibus’ crop editing abilities provide opportunities for discovery and commercial application SAN DIEGO and LONDON, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS), a leading agricultural technology company that develops and licenses plant traits to seed companies for royalties, and Biographica, a UK-based leader in AI and grap ...

SAN DIEGO, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the “Company”), a leading agricultural technology company that develops and licenses plant traits to seed companies for royalties, today announced that Rory Riggs, Co-Founder, Chief Executive Officer, and Chairman, will participate in the 13th Annual Roth Technology Conference. The conference is being held in New York City on November 19-20, 2024. Cibus is available for meetings on both days of the conference. Conference attendees shou ...

Financial Data and Key Metrics Changes - Cash and cash equivalents were $28.8 million as of September 30, 2024, with expectations that existing cash will fund planned operating expenses through the first quarter of 2025 [37] - R&D expense decreased to $13 million for Q3 2024 from $70.5 million in the same period last year, primarily due to lower noncash stock compensation and strategic realignment [38] - Net loss increased to $201.5 million for Q3 2024 compared to a net loss of $34.5 million in the prior year, largely due to impairment of goodwill [39] Business Line Data and Key Metrics Changes - The company is transitioning from an R&D-focused business to a commercial gene editing company, emphasizing the launch of herbicide-resistant traits in rice and Pod Shatter Reduction traits in canola [8][10] - The Trait Machine process has enabled the completion of edits on elite germplasm and regeneration to a plant within 12 months, significantly accelerating the commercialization timeline [11][12] - The company has established collaborations with major seed companies for trait development, licensing, and commercialization, validating its technology as a commercial platform [16][18] Market Data and Key Metrics Changes - The company anticipates a market opportunity of approximately $200 million in potential annual royalties from rice traits, with an additional $150 million from expanding into Asia starting in 2030 [28][29] - The ongoing field trials for Pod Shatter Reduction in canola and winter oilseed rape are key elements for commercialization, with initial successful trials completed [31] Company Strategy and Development Direction - The company aims to operationalize the Trait Machine process to develop a multi-trait pipeline, focusing on commercializing plant traits that enhance productivity and sustainability [9][10] - The strategic focus includes expanding the rice platform and developing the soybean platform, with expectations for operational capabilities by the end of 2024 [35][36] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of gene editing in addressing global food security challenges and emphasized the company's leadership in the agricultural gene editing industry [23][24] - The company is optimistic about the regulatory environment, with positive movements in Europe and Asia regarding gene editing policies [42][44] Other Important Information - The company has made significant advancements in gene editing capabilities, particularly in developing traits for disease resistance and herbicide tolerance [33][34] - The Trait Machine process is expected to provide a competitive advantage by enabling faster and more efficient trait development compared to traditional breeding methods [72][73] Q&A Session Summary Question: Can you discuss the state of legislative or policy support for gene editing? - Management noted that the Americas are well-positioned, while Europe is expected to make progress with new leadership in early 2025 [43][45] Question: What is the timeline for rice commercial revenues? - Expected launches for rice traits in Latin America by 2026-2027 and in the U.S. by 2027-2028 [48][49] Question: How differentiated is the company's solution compared to competitors? - Management emphasized the speed and efficiency of the Trait Machine process, which allows for quicker returns of edited germplasm to customers [55][56] Question: What is the cost-sharing structure for field trials? - Currently, the company is covering initial costs, but expects a shift to a more profitable cost-sharing model by 2026 [60][61] Question: Can you provide updates on the Sclerotinia resistance trials? - Positive results were reported from field trials, with greenhouse results expected in Q4 [62][63] Question: How does the Trait Machine differentiate from competitors' processes? - The Trait Machine allows for complex edits within a single cell, leading to faster and more efficient trait development compared to traditional methods [72][73]

Cibus (CBUS) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.90 per share. This compares to loss of $1.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 106.67%. A quarter ago, it was expected that this developer and licensor of plant traits for seed companies would post a loss of $0.81 per share when it actually produced a loss of $1.14, delivering a surprise of -40.7 ...