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 ...

Cibus Reports Third Quarter Financial Results and Provides Year-toDate Business Update for 2024 Announced a strategic realignment to advance commercial opportunities, focusing resources on advancement of weed management platform (HT1 and HT3) for Rice, Pod Shatter Reduction in Canola, Sclerotinia resistance for Canola and Soybean, and on Soybean platform development Great progress in Rice as we execute on our agreements with four major seed company customers in the United States and Latin America, with germ ...

Announced a strategic realignment to advance commercial opportunities, focusing resources on advancement of weed management platform (HT1 and HT3) for Rice, Pod Shatter Reduction in Canola, Sclerotinia resistance for Canola and Soybean, and on Soybean platform development Great progress in Rice as we execute on our agreements with four major seed company customers in the United States and Latin America, with germplasm received from all customers; completed successful field trials with HT3 in customer germpl ...

The greenhouse results represent an important success milestone in the development of its second-generation of HT2 edited Canola Cibus expects to initiate seed bulk up for testing in fields in 2025 SAN DIEGO, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS), a leading agricultural technology company that develops and licenses plant traits to seed companies for royalties, today announced that its next generation edits for herbicide tolerance (HT2) in Canola have shown increased tolerance to the h ...

SAN DIEGO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS), a leading agricultural technology company that develops and licenses plant traits to seed companies for royalties, today announced that the company will report third quarter 2024 financial results on Thursday, November 7, 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: Cibus, Inc. Third Quarter 2024 Results Conferen ...

SAN DIEGO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the "Company"), a leading agricultural technology company that develops plant traits to license to seed companies for royalties, announced a restructuring and cost reduction initiatives, including a reduction in force (“RIF”), to optimize the Company’s business and cost structure in alignment with its strategic priority to advance its nearest-term commercial opportunities. The Company expects these actions, along with other initiatives ...