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Cibus, Inc. (Nasdaq: CBUS) is a pioneering biotechnology company that focuses on developing and commercializing proprietary gene-editing technologies. At the heart of Cibus’ innovation is its Rapid Trait Development System (RTDS®), a cutting-edge gene-editing platform that integrates crop-specific cell biology with advanced gene-editing techniques. The company's mission is to enhance plant traits to address crucial farming challenges related to productivity, disease resistance, and environmental sustainability.
One of Cibus’ key projects includes the development of herbicide tolerance traits in rice. The recent field trials for the HT1 and HT3 traits have shown promising results, meeting or exceeding performance expectations. This success has led to the first transfer of customer seeds containing these traits, marking a significant step in the company's commercial journey.
In addition, Cibus has made notable progress with its Pod Shatter Reduction (PSR) trait in canola. The PSR trait aims to minimize yield losses due to pod shattering, a common issue in canola farming. The successful field trials have enabled the transfer of PSR traits to multiple seed developers, with commercial hybrid sales expected as early as 2025.
Cibus is also at the forefront of legislative changes in Europe, supporting new regulations for New Genomic Techniques (NGTs) that classify certain gene-editing methods as ‘Conventional-like’. This regulatory recognition is expected to facilitate the commercial adoption of Cibus’ gene-edited traits across the European Union.
Recently, Cibus announced a strategic partnership with Loveland Products Inc. to commercialize herbicide tolerance traits in rice for the southern US market. This collaboration underscores Cibus’ commitment to providing innovative solutions to pressing agricultural challenges.
Cibus’ proprietary Trait Machine™ System is integral to its technology breakthrough. This system standardizes the gene-editing process, allowing precise modifications in a seed company’s elite germplasm without using foreign DNA or transgenes. The Trait Machine is currently operational for canola and rice, with broader applications anticipated in the future.
Overall, Cibus is revolutionizing plant breeding with its high-throughput gene-editing technology, addressing critical agricultural challenges, and paving the way for more sustainable and productive farming practices globally.
Cibus (Nasdaq: CBUS), a leading agricultural biotechnology company, has announced the pricing of its public offering of 3,000,000 shares of Class A Common Stock at $4.00 per share. The company expects to raise approximately $12.0 million in gross proceeds before deducting underwriting discounts and expenses. Cibus has granted underwriters a 45-day option to purchase an additional 450,000 shares to cover over-allotments.
The offering is set to close on September 19, 2024. Cibus plans to use the net proceeds to fund the development of new seed traits, improve existing ones, support Trait Machine operations, and for working capital and general corporate purposes. Roth Capital Partners and A.G.P./Alliance Global Partners are acting as joint book-running managers for the offering.
Cibus, Inc. (Nasdaq: CBUS), a leading agricultural biotechnology company, has announced a proposed public offering of its Class A common stock. The company plans to grant underwriters a 45-day option to purchase up to an additional 15% of the offered shares. Roth Capital Partners and A.G.P./Alliance Global Partners are acting as joint bookrunning managers for the offering. Cibus intends to use the net proceeds to fund the development of new seed traits, improve existing ones, support Trait Machine operations, and for working capital. The offering is subject to market conditions, and there is no guarantee of its completion or terms. Some existing investors and the CEO have shown interest in purchasing shares, but this is not binding.
Cibus (Nasdaq: CBUS) has completed initial field tests of its Pod Shatter Reduction (PSR) trait in winter oilseed rape in the UK, marking the first gene-edited trait to complete such trials in the country. The promising results support Cibus' ongoing commercial development of the PSR trait. This milestone was made possible by simplified UK regulations introduced in 2022, allowing for science-based testing of gene-edited traits.
Cibus utilizes its proprietary Rapid Trait Development System™ (RTDS®) to develop complex gene-edited traits. The PSR trait aims to address potential yield losses of 5% to 25% due to pod shatter in winter oilseed rape. The successful trials pave the way for a second season of testing, with Cibus looking to deliver the benefits of precision breeding to UK farmers and the broader European agricultural community.
Cibus (Nasdaq: CBUS), a leading agricultural technology company, has announced its participation in two major investor events in August 2024. The company, which develops plant traits for licensing to seed companies, will be represented by Co-Founders Rory Riggs (CEO and Chairman) and Peter Beetham (President and COO) at both events.
The first event is the Canaccord Genuity 44th Annual Growth Conference in Boston, MA, on August 13-14. Riggs and Beetham will present on August 14 at 12:30 p.m. ET. The second event is the Sidoti Micro Cap Conference, a virtual event on August 14-15. Here, they will meet with investors and give a presentation on August 14 at 3:15 p.m. ET. Both presentations will be accessible via live audio webcasts, with links provided for interested parties to join.
Cibus Inc. (NASDAQ: CBUS) reported its Q2 2024 financial results and provided a business update. Key highlights include:
1. Secured an agreement for Herbicide Tolerance traits in Rice with FEDEARROZ, marking the fourth customer in this segment.
2. Successfully completed edits for a third mode of action in Sclerotinia resistance and initial edits for Nutrient Use Efficiency trait in Canola.
3. Operationalized the Wheat platform, enabling access to the largest global grain crop.
4. Expanded IP coverage across 10 plant trait and editing families.
5. Q2 2024 financial results: R&D expense $13.0M, SG&A expense $9.3M, Net loss $28.5M, Cash position $30.0M as of June 30, 2024.
6. Expects current cash to fund operations into Q4 2024.
Cibus (Nasdaq: CBUS) has announced positive initial field trial results for a novel weed management solution in rice using stacked gene edited herbicide tolerant traits. The trials showed that using two herbicides provided excellent weed control. This approach could enable farmers to use a comprehensive weed management system with two different modes of action, potentially reducing the risk of resistant weeds.
The company believes stacked traits are important for modernizing crop breeding, allowing for more efficient development of complex traits to address major farming yield constraints. Cibus is using its Rapid Trait Development System (RTDS®), including Gene Repair Oligonucleotides (GRON) and molecular scissors like TALENs, to develop these traits.
Cibus, Inc. (Nasdaq: CBUS), a leading agricultural technology company, has announced it will report its second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company will host a conference call and audio webcast at 4:30 p.m. ET to discuss the financial results and provide company updates.
Interested parties can join the call using the following numbers: +1-800-343-5172 (U.S.) or +1-203-518-9856 (International), with the conference ID 'CIBUS' or 24287. A replay will be available until August 22, 2024. The live audio webcast and accompanying slides will be accessible on the company's investor website, with an archived version available for 90 days post-event.
Cibus (Nasdaq: CBUS), a leading agricultural technology company, announced an expansion of its intellectual property (IP), securing additional patents for 10 plant trait and gene editing families over the past six months. This enhancement strengthens its IP portfolio in key areas like Pod Shatter Reduction (PSR), Herbicide Tolerances (HTs), High Fiber Wheat, and Improved Quality Alfalfa, covering regions including Europe, Asia, Latin America, Canada, and the US. The patents leverage Cibus' Rapid Trait Development System (RTDS®), including technologies like Gene Repair Oligonucleotides (GRON) and Transcription activator-like effector nuclease (TALEN). These advancements highlight Cibus’ capabilities in developing complex traits across multiple crops, reinforcing its strategic growth and product development efforts.
Cibus announced a significant milestone in developing Nutrient Use Efficiency (NUE) traits in Canola. This achievement marks the first gene edits for NUE in a major North American crop. These edits aim to improve fertilizer efficiency, potentially reducing environmental impact. Cibus' Rapid Trait Development System (RTDS) technology was pivotal in this advancement. The achievement was a result of a collaboration with an industry-leading third party. The NUE trait aims to increase crop yield while using fewer resources, contributing to sustainability by lowering CO2 emissions.
Cibus has announced a $13.0 million registered direct offering. The company will sell 1,298,040 shares of its Class A Common Stock and warrants to purchase up to 1,298,040 shares at $10.00 per share for institutional investors and $10.20 per share for the CEO, Rory Riggs. The warrants, exercisable immediately, will expire in five years. Gross proceeds from the offering are approximately $13.0 million before expenses. Closing is expected on June 13, 2024. The funds will support the development of new and existing seed traits, Trait Machine operations, and general corporate purposes. A.G.P./Alliance Global Partners is the sole placement agent.
FAQ
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