AquaBounty Technologies, Inc. - AQB STOCK NEWS

AquaBounty Technologies (AQB) recently announced significant progress in its operations and financial results for Q2 2021. The company successfully completed its first commercial harvests of genetically engineered (GE) Atlantic salmon from its Indiana and Rollo Bay farms. A new large-scale farm site has been selected in Pioneer, Ohio, with expected annual production of 10,000 metric tons. Revenue for the first half of 2021 reached $302,000, up from $10,000 in H1 2020, while operating expenses increased to $9.6 million. The net loss for the period was $9.4 million, with cash reserves at $204 million.

AquaBounty Technologies has selected Pioneer, Ohio, for its first large-scale aquaculture farm, aiming for an annual production capacity of 10,000 metric tons of genetically engineered salmon. The facility, expected to cost over $200 million and span 479,000 square feet, is set to create over 100 jobs upon completion. Construction is anticipated to begin in late 2021, with commercial stocking slated for 2023, contingent upon state and local economic incentives. The project underscores AquaBounty's commitment to enhancing seafood sustainability while meeting global demand.

AquaBounty Technologies (Nasdaq: AQB) announced significant advancements on June 1, 2021, including the first commercial-scale harvest of genetically engineered (GE) Atlantic salmon at its Indiana farm. The company received regulatory approval from Brazil's CTNBio for selling its GE salmon, expanding its market opportunities in South America. Additionally, Gail Sharps Myers joined its Board of Directors, enhancing the company's leadership. AquaBounty emphasizes its commitment to sustainable practices and aims to ramp up production to meet growing demand.

AquaBounty Technologies (NASDAQ: AQB) has announced the first planned harvest of its genetically engineered Atlantic salmon, totaling 5 metric tons, with orders already received. This event marks a significant milestone for the company, which is known for its innovative land-based aquaculture systems that produce salmon more efficiently and sustainably. The company aims to ramp production throughout the year, contributing to a secure domestic seafood supply while helping protect wild salmon populations. AquaBounty's fish are raised antibiotic-free in a controlled environment, enhancing their safety and sustainability.

AquaBounty Technologies (AQB) announced its financial results for Q1 2021, achieving a revenue of $74,000, up from $7,000 in Q1 2020, despite pandemic-related challenges. The company reported a net loss of $4.2 million, compared to $3.1 million the previous year. AquaBounty raised $127.1 million through a public offering in February to finance the construction of Farm 3, which will increase production capacity. With new sales director Dennis Bryant on board, the company is set to launch its genetically engineered salmon commercially in May 2021, following positive customer feedback and a resurgence in the food service industry.

AquaBounty Technologies has appointed Dennis Bryant as its new Director of Sales, leveraging his extensive experience in seafood sales to enhance customer partnerships ahead of the commercial launch of its genetically engineered Atlantic salmon in the U.S. and Canada. Previously the Managing Director at Ocean Quality USA, Bryant will optimize AquaBounty's supply chain and manage relationships with processing partners and freight carriers. This strategic hire is expected to strengthen AquaBounty's market position and improve order fulfillment and customer satisfaction.

AquaBounty Technologies reported its Q4 and 2020 year-end financial results, showcasing a revenue increase to $50,197 compared to $46,367 in Q4 2019. The company achieved $192.3 million in gross proceeds from public offerings, enhancing its balance sheet for the development of a 10,000 metric ton farm. Operational costs rose to $6.1 million due to increased production. The company faced a net loss of $6.1 million and inventory reserves of $1.5 million due to conventional salmon donations. AquaBounty anticipates a positive 2021, driven by rising consumer demand and planned commercial activities.

AquaBounty Technologies, Inc. (AQB) has successfully completed an underwritten public offering of 14,950,000 shares at $8.50 per share, raising approximately $127.1 million. This figure includes the full exercise of an option for underwriters to purchase an additional 1,950,000 shares. The net proceeds will be allocated to general corporate purposes, including establishing a new production farm and bolstering sales, marketing, and R&D initiatives. Oppenheimer & Co. Inc. and Lake Street Capital Markets acted as joint book-running managers for this offering.