Moolec Science Stock Price, News & Analysis

Moolec Science SA (NASDAQ:MLEC), a food ingredient company, received a Nasdaq Bid Price Letter due to its closing bid price falling below $1.00 for 30 consecutive business days. This violates Nasdaq Listing Rule 5550(a)(2). The company has until March 10, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of ten consecutive business days. If unsuccessful, Moolec may be eligible for an additional 180-day compliance period, provided it meets other Nasdaq Capital Market listing requirements. Failure to comply could result in delisting. Moolec is committed to resolving the deficiency and maintaining its Nasdaq listing.

Moolec Science SA (NASDAQ:MLEC) has announced the upcoming harvest of its genetically engineered plant-grown products GLASO™ and Piggy Sooy™ in October 2024. The GLASO™ campaign in Idaho covers 600 acres and is expected to yield 300-400 tons of high-GLA safflower seeds. Moolec has secured an offtake agreement with a major global CPG company for GLASO™, targeting the US market in 2025. Piggy Sooy™ field trials are being conducted in Ohio, Missouri, and Iowa for product development, seed increase, and regulatory data gathering. Moolec recently obtained USDA-APHIS approval for Piggy Sooy™ cultivation, marking a significant milestone in Molecular Farming. The company aims to provide sustainable solutions in agriculture and biotechnology, with Piggy Sooy™ potentially producing pork meat proteins equivalent to 10 pigs per acre while reducing environmental impact.

Moolec Science SA (NASDAQ:MLEC) has signed a three-year offtake agreement with a major global consumer packaged goods and pet food company for its GLASO™ product, a high-GLA safflower oil. The agreement covers US territory with an initial estimated volume of 50 tons for 2025. GLASO™ contains almost 3 times more GLA than conventional sources, making it the most concentrated GLA oil available.

Moolec has also secured agreements with farmers for safflower cultivation and an industrial partner for downstream processing, ensuring a controlled supply chain. This milestone demonstrates Moolec's ability to scale production and meet growing demand for sustainable nutritional ingredients.

Moolec Science (NASDAQ:MLEC) has released its business update for the third quarter of Fiscal Year 2024, ending March 31, 2024. Key highlights include the USDA-APHIS regulatory approval of their patented soybean product, Piggy Sooy™, and progress in the GLASO™ safflower platform. Financially, normalized revenues and other income increased by approximately $1.3 million year-over-year due to the consolidation of the soy-protein ingredient business. However, R&D, administrative, and other expenses rose to $2.3 million, a 68% year-over-year increase, largely due to non-cash items. Operational cash utilization for the quarter was around $2.6 million, with $1.4 million allocated to reducing accounts payable. CEO Gastón Paladini and CFO José López Lecube expressed optimism about the company's achievements and future prospects.

Moolec Science (NASDAQ: MLEC), a company specializing in Molecular Farming to produce animal proteins in plants, will release its Third Quarter Fiscal Year 2024 Business Update on May 30, 2024, before market opening.

CEO Gastón Paladini, CFO José López Lecube, and CSO Amit Dhingra will host a live conference call at 08:30 a.m. ET the same day, followed by a Q&A session. The conference call will feature a presentation available during the webcast, with a replay and PDF version accessible two hours post-event on the company's Investor Relations website.

Moolec Science SA (NASDAQ: MLEC) announced the granting of a patent in the United States for its SPC2 product produced in safflower with Molecular Farming technology. This patent provides exclusivity until 2041, showcasing Moolec's innovative approach in the industrial biotech sector. The technology involves safflower plants engineered with DNA sequences to enhance bovine chymosin expression, paving the way for new proteins and products. Moolec's Chief Science Officer highlighted the significance of this patent in expanding opportunities for the company's safflower platform and driving innovation in sustainable biotechnology.