Cibus, Inc. - CBUS STOCK NEWS

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 The live audio webcast and accompanying slides will be accessible on the company's investor website, with an archived version available for 90 days post-event.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.

Cibus, an agricultural technology company listed on Nasdaq (CBUS), announced its participation in two upcoming investor events in June 2024. Rory Riggs, Co-Founder, CEO, and Chairman, will present at the Stifel Cross Sector Insight Conference in Boston, MA on June 5 at 1:50 p.m. ET. Additionally, both Riggs and Co-Founder, President, and COO Peter Beetham will present at the Bank of America AgTech Conference virtually on June 6 at 3:00 p.m. ET. These events will provide Cibus with the opportunity to connect with investors and discuss its business developments.

Cibus has achieved a major milestone by successfully editing Canola with a third mode of action to resist White Mold (Sclerotinia). This advancement is expected to enhance disease resistance in Canola and potentially other crops like Soybean and various produce. The edited Canola plants will undergo controlled environment testing later this year. Cibus aims to improve crop yields and reduce fungicide use, thereby lowering input costs. This development underscores the company's capability in accelerating the creation of complex gene-edited traits.

Cibus (Nasdaq: CBUS), a leader in agricultural biotechnology, commends the Canadian Food Inspection Agency (CFIA) for updating its feed guidelines to regulate plants developed using gene editing, similar to conventional breeding. The guideline revision is part of a global trend, including the UK and EU, recognizing gene editing technologies like Cibus' RTDS® as safe and equivalent to traditional breeding methods. Cibus' RTDS platform aims to enhance global food productivity and sustainability. These guidelines are important for innovation and investment in Canada's agri-food sector, particularly for crops like canola. Cibus is progressing towards commercializing its Pod Shatter Reduction trait in canola, promising yield protection for Canadian farmers.