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Arcadia Biosciences, Inc. (NASDAQ: RKDA) is a pioneering company in the field of agricultural biotechnology, focused on developing and marketing high-value food ingredients and nutritional oils. The company’s mission is to meet the growing consumer demand for healthier dietary options through its innovative product offerings.
Among Arcadia’s standout products are its GoodWheat™ branded ingredients, which provide significant health benefits and allow consumer packaged goods companies to differentiate their brands in a competitive marketplace. Additionally, Arcadia is committed to enhancing agricultural productivity and sustainability through its portfolio of agricultural traits. These traits are designed to help farmers around the world increase crop yields and reduce the environmental impact of farming practices.
The company is engaged in science-based approaches to crop improvement, with a focus on wheat, soy, and hemp. These efforts aim not only to improve the performance of these crops in the field but also to enhance their value in food, health, and wellness products, as well as their industrial applications.
Arcadia’s consumer brands cater to a range of markets, including food, beverage, and body care. Some notable brands include GoodWheat™ high-fiber pasta and Zola coconut water. These products highlight the company’s dedication to providing nutritious and beneficial options to consumers.
Recent achievements and ongoing projects reflect Arcadia’s commitment to innovation and sustainability. By leveraging advanced agricultural biotechnology, the company continues to contribute to a healthier future while supporting global agricultural productivity.
For more detailed information and the latest updates, visit their official website at www.arcadiabio.com.
Arcadia Biosciences reported a remarkable 47% increase in total revenues for 2022, reaching $9.96 million, driven by strong sales of GoodWheat pasta and coconut water. Operating expenses declined by 32% to $28.8 million, significantly reducing cash burn. The launch of GoodWheat pasta exceeded expectations, distributing in over 1,200 stores within seven months. The company also unveiled Project Greenfield, a three-year plan to enhance profitability and product expansion. Despite the progress, net losses for the year increased to $15.4 million, highlighting ongoing challenges.
Arcadia Biosciences (Nasdaq: RKDA) will release its financial results for the fourth quarter and full year of 2022 on March 30, 2023, after market close. A conference call to discuss these results and key strategic achievements will take place at 4:30 p.m. ET (1:30 p.m. PT). Interested parties can access the call via an audio-only webcast on the Investors section of their website. Recorded replays will also be available post-call.
Arcadia Biosciences (Nasdaq: RKDA) announced a $6.0 million private placement of 666,334 shares of common stock at $9.00 per share, alongside Series A and Series B preferred investment options. The placement, expected to close by March 6, 2023, aims to fund Project Greenfield, a strategic plan designed to enhance profitability through expanding retail for products like GoodWheat™ high-fiber pasta and Zola coconut water. Additionally, the company will amend existing investment options to reduce their exercise price to $9.00 per share. An SEC registration statement for the resale of shares is targeted for filing by April 3, 2023.
GoodWheat™ pasta has achieved the American Heart Association's Heart-Check mark for its five varieties, marking a significant step towards healthier eating. Each serving contains 8g of fiber and 9g of protein, providing four times the fiber of traditional pasta. This certification underscores GoodWheat's compliance with strict nutritional standards, emphasizing high fiber, low sodium, and zero saturated fat. Cultivated by Arcadia Biosciences (Nasdaq: RKDA), GoodWheat is Non-GMO Project verified and sourced from USA farms. It is currently available in over 1,000 retail locations and on Amazon.
Arcadia Biosciences, Inc. (Nasdaq: RKDA) announced that its GoodWheat™ pasta is now available in over 1,000 retail locations, doubling its distribution since the launch in June 2022. The pasta offers significant health benefits, containing four times the fiber and 25% more protein than traditional pasta. CEO Stan Jacot highlighted the growing consumer demand for healthy alternatives. GoodWheat pasta, made from proprietary non-GMO wheat, helps address low fiber intake among Americans. For more information, visit eatgoodwheat.com.
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