Welcome to our dedicated page for Aquabounty Technologies news (Ticker: AQB), a resource for investors and traders seeking the latest updates and insights on Aquabounty Technologies stock.
AquaBounty Technologies Inc. (AQB) pioneers sustainable aquaculture through land-based farming systems and genetic innovation. This dedicated news hub provides investors and industry stakeholders with essential updates on operational milestones, financial developments, and technological advancements in antibiotic-free salmon production.
Access timely reports on earnings announcements, regulatory updates, and strategic partnerships that shape AQB's position in the biotechnology-driven aquaculture sector. Our curated collection features press releases about production facility expansions, genetic research breakthroughs, and sustainability initiatives aligned with global food security goals.
Key updates include progress in recirculating aquaculture system (RAS) deployments, broodstock management innovations, and market expansion efforts. Monitor developments in AQB's vertically integrated operations – from egg incubation to harvest – that reduce environmental impact while enhancing production efficiency.
Bookmark this page for structured access to verified information about AquaBounty's bioscience applications and financial performance. Check regularly for objective updates on operational scaling, biosecurity enhancements, and industry recognition in sustainable protein production.
AquaBounty Technologies (NASDAQ: AQB) reported challenging financial results for FY2024, with product revenue declining 68% to $789,000 from $2.5 million in 2023. The company's net loss significantly widened to $149.2 million from $27.6 million in 2023, largely due to $129.8 million in asset impairment charges.
Key developments include the sale of the Indiana grow-out farm in July 2024, closure of Canadian farm operations in December, and suspension of Ohio Farm Site construction. Cash position deteriorated to $230,000 by end of 2024, compared to $9.2 million in 2023.
In early 2025, the company generated additional liquidity through two transactions: $2.2 million from Ohio Equipment Assets auction and $1.9 million from the sale of Canadian Farms and Corporate IP, including AquAdvantage salmon intellectual property. Management continues to explore strategic alternatives for the Ohio Farm Project.
AquaBounty Technologies (NASDAQ: AQB) announced plans to cease its fish farming operations, starting with the immediate wind-down of its Bay Fortune facility, its only remaining operating farm. The decision includes culling all remaining fish and reducing substantially all personnel over the next several weeks due to insufficient liquidity.
The company has been attempting to raise capital through various means, including selling farms and equipment, but these efforts haven't generated enough cash to maintain operations. Several key executives have departed, including CEO Dave Melbourne's voluntary resignation effective December 6, 2024, and the elimination of positions for COO Alejandro Rojas and CPO Melissa Daley.
The company will continue working with its investment banker to evaluate alternatives for its Ohio farm project and market remaining assets.
AquaBounty Technologies (NASDAQ: AQB) reported its Q3 2024 financial results, showing a reduced net loss of $3.4 million compared to $6.1 million in Q3 2023. Cash position decreased to $500 thousand from $9.2 million at year-end 2023. The company completed the sale of its Indiana farm for $9.2 million net in July 2024, using proceeds to pay off a bridge loan. Management announced plans to sell the Rollo Bay farm in Canada and is working with investment banking partners to extend cash runway while implementing cost reduction measures.
AquaBounty Technologies (NASDAQ: AQB) has announced an update on its fundraising efforts. The company has decided to sell its Rollo Bay farm operation in Prince Edward Island, Canada, to strengthen its balance sheet and increase cash position. The sale is expected to be completed before the end of 2024.
CEO David Melbourne stated that the company is focused on securing funding for both near and long-term needs to return to pursuing its growth strategy. The Rollo Bay farm, purchased in 2016, was developed for broodstock and egg production to support an expansion plan for five large land-based grow-out farms. However, AquaBounty will retain sufficient egg production capacity for its Ohio farm from its Bay Fortune hatchery.
The company is continuing to pursue additional funding and strategic alternatives to secure cash requirements in the coming months.
AquaBounty Technologies (NASDAQ: AQB) reported its Q2 2024 financial results, highlighting significant challenges. The company's net loss increased to $50.5 million, compared to $6.5 million in Q2 2023, primarily due to a $44.5 million non-cash impairment charge on farm assets. Cash reserves decreased to $0.7 million as of June 30, 2024. AquaBounty completed the sale of its Indiana farm for $9.2 million on July 26, 2024. The company is focusing on extending its cash runway and reducing operating expenses. Despite challenges, AquaBounty secured egg sales from its PEI operations and continues to make progress in R&D initiatives. New CEO David F. Melbourne Jr. emphasized commitment to stabilizing the business and driving long-term value creation.
AquaBounty Technologies announced David F. Melbourne Jr.'s promotion to President and CEO, effective immediately. Sylvia Wulf will continue as the non-executive Board Chair. This transition is part of a long-term succession plan that began with Melbourne's promotion to President in August 2023. Melbourne has played a key role in managing daily operations and overseeing the shutdown of the Indiana farm. As CEO, his focus will be on securing financing, maintaining liquidity, and pursuing strategic initiatives for growth. AquaBounty has made significant progress in vertical integration, operational expertise, breeding, and market expansion into the U.S. and Canada. Melbourne aims to stabilize the business and drive long-term growth.
AquaBounty Technologies (NASDAQ: AQB) reported a first-quarter net loss of $11.2 million for 2024, a significant increase from the $6.5 million loss in the same period in 2023. This loss included a $4.3 million non-cash impairment charge related to the Indiana farm and a $1.0 million inventory value reduction. Cash reserves dropped to $3.6 million from $9.2 million at the end of 2023.
On April 18, 2024, AquaBounty secured a $10.0 million bridge loan, receiving $5.0 million to date. The decision to sell the Indiana farm was cited as a strategy to improve cash flow and reduce expenses. The sale led to accelerated harvesting, impacting revenue. PEI farm saw revenue grow to $82,000, with increased egg incubation leading to a large order from a major salmon producer. The company is exploring funding and strategic options to stabilize its financial condition.
