MBII - MBII STOCK NEWS

Marrone Bio Innovations (NASDAQ: MBII) has appointed Suping (Sue) Cheung as the new Chief Financial Officer, effective February 18, 2021, succeeding James Boyd, who is retiring. Cheung brings 28 years of financial expertise, including her recent role at QuickLogic Corporation. Her appointment is aimed at accelerating Marrone Bio's growth and profitability while managing costs. Cheung's leadership is expected to enhance operational excellence and shareholder value. Marrone Bio operates in sustainable agricultural solutions, backed by a strong patent portfolio and innovative product lines.

Marrone Bio Innovations (NASDAQ: MBII) announced the approval of its Grandevo WDG Bioinsecticide for use in New Zealand and Chile. This eco-friendly product, effective against various pests, is set to enhance crop health in diverse regions. In New Zealand, it will be marketed as BioGro and targets mealybug on wine grapes. In Chile, it has been approved for multiple crops including blueberries and grapes, crucial for the country's fruit exports. Additionally, Grandevo has recently gained EPA approval for use on hemp in the U.S., addressing a significant market need for sustainable pest management.

Marrone Bio Innovations (MBII) announced that its Form S-3 resale registration statement was declared effective by the SEC on January 5, 2021. This registration allows for the potential resale of common stock, including shares from the exercise of warrants issued in a prior transaction. CFO Jim Boyd stated that while no new securities are being offered and the company will not receive proceeds from resale, it will benefit from cash exercises of the warrants. The registration does not obligate stockholders to sell their securities.

Marrone Bio Innovations (NASDAQ: MBII) announced an update on its warrant transactions, amending agreements with Van Herk Investments. As of Dec. 29, 2020, Van Herk exercised 33.3% of its warrants, providing $1.7 million to the company. Currently, only 27.6% of the total warrants from early 2020 remain outstanding. Assuming full exercise of remaining warrants, MBII could secure $6.2 million in Q1 and $5.5 million in Q4 of 2021. The company aims to enhance its position in agricultural biological solutions.

Marrone Bio Innovations (NASDAQ: MBII) has partnered with PGG Wrightson Seeds to distribute its Pro Farm Technology products in Uruguay for the next five years. This agreement grants PGGWS exclusive rights to sell the UBP seed treatment line, enhancing Marrone's international market presence. The UBP treatment, derived from plant-based lignin, supports crop growth and health, promising improved yields for crops like soybeans and wheat. The partnership aligns with Marrone's strategy to expand in South America, significantly benefiting local farmers.

Marrone Bio Innovations (NASDAQ: MBII) reported a significant revenue increase of 27% year-over-year in Q3 2020, reaching $8.8 million, driven by expansion in international markets and seed treatment products. Gross profit grew 40% to $5 million, with gross margins at 56.7%. Operating expenses decreased by 22% to $10.4 million. The company's net loss improved 63% to $6.1 million. Year-to-date revenues increased 35% to $30.7 million, supported by market share gains in California's fungicide and insecticide sectors.

Marrone Bio Innovations, a leader in sustainable bioprotection solutions, has appointed Lara L. Lee to its Board of Directors. With over 30 years of executive experience, including roles at Lowe's and Harley-Davidson, Lee is expected to bring valuable insights to the company. Her expertise in market transformation and international distribution aligns with Marrone Bio's goal to enhance its global reach and commercial capabilities. Chairman Bob Woods expressed confidence in her ability to drive the company's growth and strengthen its leadership in the biologicals market.

Marrone Bio Innovations (NASDAQ: MBII) will release its Q3 2020 financial results on November 9, 2020, at 4:30 p.m. ET. An investor conference call will follow at the same time, allowing participants to discuss the results and ask questions. Dial-in details include U.S. number 1-800-437-2398 and international number 1-323-289-6576, with Conference ID: 1021625. The call will be available for playback until December 9, 2020. Marrone Bio is focused on sustainable bioprotection and plant health solutions, holding over 400 patents.

Marrone Bio Innovations (NASDAQ: MBII) has announced a letter to shareholders from CEO Kevin Helash, detailing the company's strategy for achieving profitability. As the third quarter concludes, early indicators suggest the company is on track with revenue growth and gross margins targeting the mid-50% range. Key growth drivers include expanded sales, new product development, and contributions from the Pro Farm acquisition. The company is prioritizing R&D projects with high revenue potential while focusing on operational excellence.