Yield10 Bioscience(YTEN)
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Yield10 Bioscience Announces Second Quarter 2024 Financial Results
GlobeNewswire News Room· 2024-08-14 20:37
Core Insights - Yield10 Bioscience, Inc. reported a net loss of $3.2 million for Q2 2024, an improvement from a net loss of $3.7 million in Q2 2023, indicating a reduction in losses per share from $15.42 to $5.04 [3] - The company is in the process of finalizing an asset purchase agreement with Nufarm, which includes an initial payment of $3 million and potential additional payments totaling $5 million for Omega-3 intellectual property [2][3] - Yield10 is leveraging advanced genetics to develop Camelina sativa as a platform crop for sustainable seed products, including oils for renewable diesel and omega-3 oils for various applications [4] Financial Performance - Yield10 reported a net loss of $3.2 million for the three months ended June 30, 2024, compared to a net loss of $3.7 million for the same period in 2023 [3] - Loss per share improved from $15.42 in Q2 2023 to $5.04 in Q2 2024, reflecting better financial management [3] Strategic Developments - The company is working closely with Nufarm to finalize an asset purchase agreement, which is expected to benefit shareholders and provide necessary cash flow [2] - A Memorandum of Understanding and License Agreement was signed with Nuseed Nutritional US Inc., granting Nufarm a commercial license for Omega-3 production, with potential payments of up to $5 million [2] - Yield10 and Nufarm have agreed to negotiate exclusively for the sale of substantially all of Yield10's remaining assets, pending shareholder approval [2] Company Overview - Yield10 Bioscience focuses on agricultural bioscience, utilizing advanced genetics to develop Camelina sativa for sustainable oil production [4] - The company is headquartered in Woburn, Massachusetts, with a subsidiary in Saskatoon, Canada [4]
Yield10 Bioscience Grants Nufarm a Commercial License to Omega-3 Assets for Producing Oil in Camelina, and Yield10 and Nufarm sign a Memorandum of Understanding for Sale of Assets
GlobeNewswire News Room· 2024-07-17 12:30
- Nufarm to pay up to USD $5 million in consideration for the license -The parties will negotiate the sale of essentially all of Yield10's assets to Nufarm WOBURN, Mass. and WEST SACRAMENTO, Calif., July 17, 2024 (GLOBE NEWSWIRE) -- Yield10 Bioscience, Inc. (OTC:YTEN) ("Yield10" or the "Company"), an agricultural bioscience company, today announced that the Company has signed a Memorandum of Understanding ("MOU") and License Agreement with Nuseed Nutritional US Inc. (the seed technologies platform of Nufarm ...
Yield10 Bioscience(YTEN) - 2024 Q1 - Quarterly Report
2024-05-15 20:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33133 YIELD10 BIOSCIENCE, INC. (State or other jurisdiction of incorporation or organization) 19 Presidential Way Woburn, MA 01801 (Addres ...
Yield10 Bioscience(YTEN) - 2024 Q1 - Quarterly Results
2024-05-15 20:01
Financial Performance - Yield10 reported a net loss of $2.5 million for Q1 2024, or $4.77 per share, compared to a net loss of $3.8 million, or $18.16 per share, for Q1 2023[16] - Net loss for the three months ended March 31, 2024, was $2,472 million, an improvement from a net loss of $3,782 million in the same period of 2023[26] - Net cash used in operating activities decreased to $903 million from $2,667 million year-over-year[26] - Stock-based compensation expenses were $403 million, slightly down from $436 million in the prior year[26] Revenue and Cash Flow - Yield10 recognized $0.3 million in license revenue from the agreement with Vision Bioenergy Oilseeds during Q1 2024, with total revenue of $0.3 million compared to $0.06 million in Q1 2023[13][22] - Yield10 received $1 million in milestone payments from Vision Bioenergy Oilseeds in Q1 2024, contributing to its cash position[3][8] - The company anticipates total cash payments from Vision Bioenergy Oilseeds to reach $3 million, with $2 million received as of March 31, 2024[12] - Net cash provided by financing activities was $1,211 million, compared to $141 million in the previous year[26] Expenses and Liabilities - Research and development expenses decreased to $1.4 million in Q1 2024 from $2.2 million in Q1 2023, reflecting the company's efforts to align expenses with cash resources[15] - Total current liabilities increased to $6.21 million as of March 31, 2024, compared to $4.87 million as of December 31, 2023[24] - Deferred revenue increased significantly to $1,700 million, compared to no deferred revenue in the same period last year[26] - Accounts payable increased to $444 million from $307 million year-over-year[26] - The company reported a non-cash lease expense of $124 million, up from $104 million in the same period last year[26] Cash Position - The company ended Q1 2024 with $1.6 million in unrestricted cash, a net increase of $0.5 million from $1.1 million reported as of December 31, 2023[11] - Cash, cash equivalents, and restricted cash at the end of the period totaled $1,644 million, down from $2,073 million at the end of the same period in 2023[26] Regulatory and Development Updates - The U.S. EPA approved an amendment to the label language of INTERLINE Herbicide to include oilseed Camelina, allowing for better weed management during production[8] - Yield10 was granted a U.S. patent for oilseed plants engineered with a novel carbon fixation pathway in April 2024, expected to issue in the second half of 2024[4] - The company plans to plant its omega-3 DHA Camelina variety in fall 2024 as part of its seed scale-up program[8] Exchange Rate Impact - The effect of exchange rate changes on cash resulted in a positive impact of $4 million, compared to a negative impact of $3 million in the previous year[26] Capital Expenditures - The company had no purchases of property and equipment during the current period, compared to $9 million in the same period last year[26]
Yield10 Bioscience(YTEN) - 2023 Q4 - Earnings Call Presentation
2024-04-02 03:07
Yield10 Fourth Quarter and Full Year 2023 Financial Results and Business Highlights Today April 01, 2024 Yield10 Bioscience, Inc. www.yield10bio.com NasdaqCM: YTEN "Sustainability is in Our Genes" Safe Harbor Statement 2 The statements made by Yield10 Bioscience, Inc. (the "Company," "we," "our" or "us") herein regarding the Company and its business may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking st ...
Yield10 Bioscience(YTEN) - 2023 Q4 - Earnings Call Transcript
2024-04-02 03:05
Yield10 Bioscience, Inc. (OTCQB:YTEN) Q4 2023 Earnings Conference Call April 1, 2024 4:30 PM ET Company Participants Lynne Brum - Vice President of Planning and Corporate Communications Oliver Peoples - President and Chief Executive Officer Kristi Snell - Vice President, Research and Chief Science Officer Chuck Haaser - Chief Accounting Officer Conference Call Participants Ben Klieve - Lake Street Capital Market Operator Welcome to the Fourth Quarter and Full Year 2023 Financial Results and Business Update ...
Yield10 Bioscience(YTEN) - 2023 Q4 - Annual Report
2024-04-01 20:10
40Use these links to rapidly review the document TABLE OF CONTENTS Index to Consolidated Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-33133 YIELD10 BIOSCIENCE, INC. (Exact name of registrant as specified in its charter) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware (State or other juri ...
Yield10 Bioscience(YTEN) - 2023 Q4 - Annual Results
2024-04-01 20:06
Yield10 Bioscience Announces Fourth Quarter and Full Year 2023 Financial Results -Granted global commercial license to Vision Bioenergy for Camelina addressing the biofuel market -Advanced regulatory and seed scale-up program for omega-3 Camelina -E3902 oil trait in Camelina cleared by regulatory authority for planting in Canada -Management will host a conference call today at 4:30 p.m. (ET) to review financial results and provide a corporate update "In early 2024, Yield10 granted to Vision Bioenergy Oilsee ...
Yield10 Bioscience(YTEN) - 2023 Q3 - Earnings Call Transcript
2023-11-15 02:57
Yield10 Bioscience, Inc. (OTCQB:YTEN) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET Company Participants Lynne Brum - Investor Relations Oliver Peoples - President and Chief Executive Officer Kristi Snell - Vice President, Research and Chief Science Officer Chuck Haaser - Chief Accounting Officer Conference Call Participants Ben Klieve - Lake Street Capital Markets Noel Parks - Tuohy Brothers Operator Hello and welcome to the Third Quarter 2023 Financial Results and Business Update Conferenc ...
Yield10 Bioscience(YTEN) - 2023 Q3 - Quarterly Report
2023-11-14 21:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33133 YIELD10 BIOSCIENCE, INC. (State or other jurisdiction of incorporation or organization) Indicate by check mark whether the regis ...