Nonbinding Letter of Intent (LOI) sets framework for potential 2027 market entry in Ecuador and Colombia, followed by expansion into Peru, Central America and the Caribbean Expected to build on success under the existing 2024 material transfer agreement, shifting focus to market execution and revenue generation for co-developed herbicide-tolerant (HT) rice traits SAN DIEGO, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS), a leading agricultural technology company that develops and licenses plan ...

Financial Data and Key Metrics Changes - Cash and cash equivalents as of June 30, 2025, were $36.5 million, with an expectation that existing cash will fund operations into Q2 2026 [22] - Revenue for Q2 was $933,000, up from $838,000 in the same period last year, indicating increased activity in partner-funded programs [22] - Research and development expenses decreased to $12.2 million from $13 million year-over-year, reflecting cost reduction initiatives [23] - Selling, general, and administrative expenses were $6.6 million, down from $9.3 million in the prior year [24] - Net loss for the quarter was $26.6 million, compared to $28.5 million in the same period last year [24] Business Line Data and Key Metrics Changes - The RIOS herbicide tolerance traits HT1 and HT3 are projected to generate over $200 million in potential annual royalty revenue, with launches targeted for Latin America in 2027 and the U.S. in 2028 [5][9] - The biofragrance program is on track for nominal revenues beginning later this year, with commercial expansion expected to ramp up in 2026 [12][13] Market Data and Key Metrics Changes - The company is witnessing a favorable global regulatory environment that is enhancing market penetration opportunities [6][14] - The EU's regulatory discussions are progressing, with expectations for resolution within six months, which could significantly benefit the company [14][45] Company Strategy and Development Direction - The company is focused on advancing its rice herbicide tolerance traits and sustainable ingredients programs, with a disciplined approach to capital allocation [6][28] - The strategic operational focus aims to reduce annual cash usage to approximately $30 million by 2026, extending the cash runway while capturing significant revenue opportunities [7][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing the strategy that will deliver long-term value, emphasizing the importance of gene editing in agricultural innovation [27][28] - The company anticipates initial revenues from rice traits and biofragrance products starting in 2026, with meaningful expansion thereafter [28][29] Other Important Information - The company has signed agreements with multiple customers in Latin America, enhancing its market presence and customer engagement [10][11] - The successful completion of the FDA review for altered lignin alfalfa paves the way for U.S. commercialization, although it is not expected to be a significant revenue driver compared to priority programs [20] Q&A Session Summary Question: About the germplasm transfer and field trials - Management confirmed that the germplasm transfer involves a new customer who will use the HT3 trait in their field trials [34] Question: Initial revenue expectations for biofragrance - Management clarified that nominal revenues are expected this year, with full commercial runs starting in 2026 [36] Question: EU regulatory discussions and next steps - Management indicated that the EU is working on important amendments and expects resolution within six months, paving the way for commercialization [45][70] Question: Cash burn and expense reduction timeline - Management confirmed that they are on track to reduce operating expenses to $30 million by 2026, with a disciplined approach to capital allocation [56] Question: Scale-up of sustainable ingredients - Management noted that while biofragrance revenues will ramp up quickly, sustainable ingredients may take a couple of years to see significant commercial interaction [58] Question: Differentiation in gene editing technology - Management highlighted the unique single-cell editing system that allows for complex traits without needing a null segregate, setting them apart from competitors [72][73]