Core Insights - Cibus is advancing its agricultural technology initiatives, particularly in herbicide tolerance traits for rice, with a targeted commercial launch in Latin America by 2027 and expansion into the U.S. by 2028 [1][3][2] - The company has signed agreements with seven rice customers, representing an estimated 5-7 million addressable acres and a potential annual royalty opportunity exceeding $200 million [2][3] - Cibus is also focusing on entering the Indian market through a partnership with AgVayā, aiming to enhance crop productivity via advanced gene editing [2][3][4] Financial Performance - For the quarter ended September 30, 2025, Cibus reported revenue of $615,000, a decrease from $1.67 million in the same period last year [12][25] - Research and development expenses were $10.8 million, down from $13 million year-over-year, reflecting cost reduction initiatives [12][13] - The net loss for the quarter was $24.3 million, significantly improved from a net loss of $201.5 million in the prior year [12][13] Strategic Developments - Cibus has engaged in pre-commercial pilot runs for biofragrance products, with commercial expansion planned for 2026 [1][3] - The company has consolidated its operations by closing the Oberlin facility and streamlining its focus on partner-funded commercial opportunities, targeting an annual net cash usage of $30 million by 2026 [1][3][12] - New board appointments, including Kimberly A. Box and Craig Wichner, are expected to enhance Cibus' governance and commercial strategy [1][12] Regulatory Environment - The global regulatory landscape for gene editing technologies remains favorable, with advancements in the EU and UK regulatory frameworks for new genomic techniques [3][5] - Cibus has received positive regulatory determinations in Ecuador and the U.S. regarding its herbicide tolerance traits, facilitating commercialization efforts [3][5] Research and Development Initiatives - Cibus is progressing with its HT1 and HT3 herbicide tolerance traits in rice, with field trials and trait registration on track for initial launches in 2027-2028 [3][12] - The company is also developing traits for canola, with positive field trial results for the HT2 trait, which can be stacked with other herbicide resistance traits [10][12]
Cibus Reports Third Quarter Financial Results and Provides Year-to-Date Business Update for 2025