Financial Data and Key Metrics Changes - Cash and cash equivalents as of March 31, 2025, were $23.6 million, with net proceeds of $21.4 million from a registered direct offering in January 2025 [22] - Revenue for Q1 2025 was $1 million, an increase of $489,000 compared to $545,000 in the same period last year, attributed to increased activity in partner-funded projects [22] - R&D expenses were $11.8 million for Q1 2025, down from $12 million in the previous year due to cost reduction initiatives [23] - SG&A expenses rose to $9.9 million in Q1 2025 from $7 million in the prior year, primarily due to a $3 million litigation accrual [23] - Net loss for Q1 2025 was $49.4 million, compared to a net loss of $27 million in the same period last year, largely due to a $21 million non-cash goodwill impairment [23][24] Business Line Data and Key Metrics Changes - The rice platform secured agreements with four major rice seed companies, representing approximately 40% of estimated accessible rice acres across North and Latin America [7] - Progress in disease resistance traits for canola included successful edits for four different modes of action, with positive field trial results for the second mode of action [11] - The soybean platform achieved a significant milestone with successful editing of a soybean cell for the HT2 trait, enabling expanded platform development [12] Market Data and Key Metrics Changes - The regulatory environment has improved, with the California Rights Commission approving field research proposals for gene-edited rice, and Ecuador recognizing certain traits as equivalent to conventional breeding [16][17] - The USDA APHIS designated two disease resistance trait products for canola as not regulated, allowing for unrestricted product development in the U.S. [18] Company Strategy and Development Direction - The company is focused on optimizing operations and reducing cash burn in 2025 while pursuing strategic priorities in rice, canola, and soybean platforms [20][25] - The commercialization strategy is progressing, with anticipated trait validation trials in Latin America and continued development of bio-based fermentation products [19][15] - The company aims to maximize shareholder value by prioritizing investments in near-term commercial opportunities with developed traits [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformative potential of the RTDS technology platform and its ability to attract significant commercial interest [5][25] - The company is positioned at an important inflection point in the agricultural industry, with a focus on gene editing technologies that enhance crop adaptability and productivity [20][25] - Management highlighted the importance of regulatory advancements in supporting the commercialization of gene-edited traits [25] Other Important Information - The company anticipates nominal revenues from its sustainable ingredients program later in 2025, with ongoing partnerships with consumer packaged goods companies [15] - The company is taking a disciplined approach to resource allocation, ensuring financial flexibility to execute strategic priorities [20] Q&A Session Summary Question: Can you walk through the cash burn and the step up in SG&A in Q1? - Management indicated a cash burn of approximately $4.4 million gross in Q1, with the increase in SG&A primarily due to a litigation accrual [30][31] Question: What is the expected timeframe for EU regulatory discussions? - Management believes the trilogue discussions could conclude within six months, with secondary legislation expected within twelve months [33][34] Question: What are the working capital impacts when trait products hit commercial launch? - Management stated that there would not be a significant cash hit as they support customers from a stewardship standpoint [38][42] Question: What is the potential scale and ramp-up speed for biofragrance products? - Management noted strong demand for bio-based products, with a quick ramp-up expected from 2026 to 2028 [40] Question: Are there other Latin American countries with similar regulatory frameworks to Ecuador? - Management confirmed that several Latin American countries view gene-edited products as conventional breeding, following Ecuador's lead [66][68] Question: Is there existing usage data for clethodim by rice farmers in Latin America? - Management clarified that clethodim is an approved herbicide in South America, and the new trait will provide an additional tool for rice farmers [69][71]

Core Insights - Cibus is advancing its gene editing technologies, particularly in rice and canola, with a focus on herbicide tolerance and disease resistance traits, targeting a commercial launch by 2027 [1][2] - Positive regulatory developments in Ecuador and the U.S. validate Cibus' gene editing technologies, enhancing its commercial prospects [1][2][7] - The company reported a significant increase in net loss for Q1 2025, primarily due to a goodwill impairment, while also showing progress in revenue generation [8][9][24] Company Developments - Cibus has achieved positive results in its Sclerotinia resistance program, demonstrating multiple modes of action against the disease in canola [1][4] - The USDA-APHIS has designated Cibus' canola disease resistance traits as not regulated, reinforcing the regulatory status of its RTDS technologies [1][2][7] - The company is expanding its trait development pipeline, with successful field trials and customer agreements in rice, including collaborations with major rice seed companies [5][7] Financial Performance - For Q1 2025, Cibus reported revenue of $1.034 million, up from $0.545 million in the same period last year [23][24] - Research and development expenses were $11.8 million, slightly down from $12.0 million year-over-year, while selling, general, and administrative expenses increased to $9.9 million [8][24] - The net loss for the quarter was $49.4 million, compared to $27.0 million in the previous year, largely due to a $21.0 million goodwill impairment [8][9][24] Regulatory and Market Progress - The California Rice Commission approved the planting of gene-edited rice, marking a significant milestone for Cibus in the U.S. market [7][9] - EU member states have endorsed a negotiating mandate on the regulation of plants obtained by New Genomic Techniques, facilitating discussions for legislative adoption [1][7] - Cibus plans to deliver initial traits to customers in California and Latin America by mid-2025 and the end of 2025, respectively [7][9]

长沙晚报掌上长沙4月11日讯（通讯员 肖彦彬）近日，兴业银行长沙分行在绿色金融领域再添新举措， 成功向湖南某生物科技有限公司投放6000万元绿色项目贷款，贷款期限长达10年，专项用于绿色农用生 物肥料生产项目建设；同时，向湖南某科技有限公司投放1000万元绿色流贷，贷款期限1年，专项支持 低毒农药的生产采购。这一系列举措不仅展现了兴业银行长沙分行在绿色金融领域的持续深耕，更为湖 南绿色农业的转型升级注入了强劲的"绿色动能"。 在本次合作中，兴业银行长沙分行充分发挥"绿色金融+科技金融"双轮驱动模式的优势，为企业量身定 制融资方案。通过资源整合，助力企业打通"研发-生产-应用"全链条，为农户节本增收提供了可持续解 决方案。 近年来，兴业银行长沙分行持续深化绿色金融实践，围绕湖南农业大省的特色，不断加大绿色农业项目 的信贷支持力度。兴业银行长沙分行相关负责人表示，湖南省作为农业大省，正积极推进化肥减量增效 与耕地质量提升行动。兴业银行长沙分行将紧扣政策导向，通过投放绿色贷款，带动降碳减排，努力构 建覆盖'绿色种养、低碳加工、智慧流通'的农业全场景服务体系，致力于成为绿色农业价值链的共建 者，助力湖南从"农业大省" ...

Core Insights - Cibus, Inc. is advancing its gene editing technologies and has made significant progress in commercializing herbicide tolerance traits in rice, with interest from markets in Uruguay, Colombia, Brazil, Asia, and the United States [2][3] - The company has established partnerships for disease resistance in canola and oilseed rape, and is making strides in developing multiple modes of action for disease resistance traits [3][7] - Cibus has reported a net loss of $25.8 million for the quarter ended December 31, 2024, a significant decrease from a net loss of $277.2 million in the same period the previous year, primarily due to a prior goodwill impairment [10][12] Regulatory and Market Developments - The California Rice Commission approved Cibus' field research proposal, marking the first authorization for gene-edited rice planting in California [1][8] - The EU is progressing towards finalizing legislation on New Genomic Techniques (NGTs), which could facilitate international trade and improve crop varieties for EU growers [1][8] Financial Performance - Cibus reported revenue of $1.2 million for the quarter ended December 31, 2024, compared to $1.1 million in the same quarter of 2023 [10][26] - Research and development expenses decreased to $12.4 million from $14.2 million year-over-year, reflecting cost-saving measures [12][26] - The company had cash and cash equivalents of $14.4 million as of December 31, 2024, down from $32.7 million in the previous year [12][29] Strategic Initiatives - Cibus is focused on expanding its partnerships with rice seed companies across North and South America, with plans for initial trait validation trials in Latin America [9] - The company aims to achieve $10 million in annual cost savings through strategic realignment and facility consolidation [9] - Cibus is developing a fully operational soybean platform, with expectations for HT2 trait edits in soybean plants in 2025 [9][12]