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Yield10 Bioscience, Inc. (Nasdaq: YTEN) is a pioneering agricultural bioscience company focusing on the development of cutting-edge technologies for significant improvements in crop yield within the United States and Canada. Founded in 1992 and headquartered in Woburn, Massachusetts, Yield10 leverages advanced genetic engineering to develop high-value traits in seeds, targeting the agriculture and food industries through its Trait Factory. The company has a dedicated oilseed development center in Saskatchewan, Canada.
The core mission of Yield10 is to harness the genetic potential of the oilseed Camelina sativa ('Camelina') for the production of sustainable seed products. These products include feedstock oils for renewable diesel and sustainable aviation biofuels, omega-3 (EPA and DHA+EPA) oils for pharmaceutical, nutraceutical, and aquafeed applications, and future plans for PHA biomaterials to be used as biodegradable bioplastics.
Yield10’s research initiatives are bolstered by strategic partnerships with industry giants such as Bayer AG for soybean traits, Forage Genetics International, LLC for forage sorghum traits, J. R. Simplot Company for potato traits, and GDM Seeds Inc. for evaluating yield traits in soybeans. These collaborations underscore the company’s commitment to innovation and broadening the impact of its technologies.
Significant recent milestones include the development and successful field testing of proprietary winter Camelina varieties engineered for herbicide tolerance. These varieties showed promising results in tolerating glufosinate and Group 2 herbicides, which are crucial for managing weeds and ensuring high yield in crop rotations across North America. This advancement is expected to facilitate the large-scale adoption of Camelina for biofuel and omega-3 oil markets, with the potential for commercial production as early as 2025.
Regulatory progress has been a key aspect of Yield10’s strategy, with USDA-APHIS determining that its genetically engineered Camelina traits are not subject to certain regulations, allowing for expanded planting and breeding in the United States. Additionally, the Canadian Food Inspection Agency has cleared Yield10's E3902 Camelina, which features enhanced oil production and a lighter seed coat.
Yield10 continues to build on its commercial and regulatory achievements, exemplified by the recent agreement with Vision Bioenergy Oilseeds to license Camelina varieties for biofuel feedstock production. This collaboration aims to support the growing demand for low-carbon intensity feedstock oil, aligning with global decarbonization goals.
For more detailed information about Yield10 Bioscience and its innovative endeavors, visit www.yield10bio.com or follow the company on X (formerly Twitter), Facebook, and LinkedIn.
Yield10 Bioscience (OTCQB:YTEN) announced the adjournment of its Special Meeting of Stockholders due to insufficient votes for key proposals regarding the Asset Sale to Nuseed and the Dissolution proposal. The meeting has been rescheduled to November 21, 2024. More than 50% of shares must vote in favor of Proposals 1 and 2 to pass. The board emphasizes that the Nuseed asset sale represents the only possibility for stockholders to receive payment for their shares. Stockholders of record as of October 3, 2024, are urged to vote by November 20, 2024. The company may need to adjourn again if insufficient votes are received, potentially incurring additional costs.
Yield10 Bioscience (Nasdaq: YTEN) reported Q2 2024 financial results, highlighting a net loss of $3.2 million ($5.04 per share), compared to a $3.7 million loss in Q2 2023. The company announced a significant development: a Memorandum of Understanding and License Agreement with Nuseed Nutritional US Inc. (Nufarm's seed technologies platform) for Omega-3 Camelina intellectual property. This deal could bring Yield10 up to $5 million, with an initial $3 million payment received. Yield10 and Nufarm are in exclusive negotiations for the sale of Yield10's remaining assets, subject to shareholder approval. CEO Oliver Peoples emphasized that this transition is in the best interest of shareholders, partners, and employees, providing cash runway for the company.
Yield10 Bioscience (OTC:YTEN) has signed a Memorandum of Understanding and License Agreement with Nuseed Nutritional US Inc., granting Nufarm a commercial license to Omega-3 assets for producing oil in Camelina. Nufarm will pay up to USD $5 million for the license. The companies have agreed to negotiate exclusively for the sale of Yield10's remaining assets to Nufarm, subject to shareholder approval.
This deal aims to enable a land-based supply of high-quality omega-3 oils to meet growing global demand for EPA and DHA. The transition of Yield10's Omega-3 Camelina program to Nufarm is expected to provide cash runway and facilitate the commercialization of plant-based omega-3 oils using Camelina.
Yield10 Bioscience has secured an exclusive global license from Rothamsted Research to use advanced technology for producing omega-3 oils in Camelina. This agreement enables Yield10 to produce sustainable omega-3 products for aquafeed, petfood, and human nutrition markets. Supported by milestone payments and royalties, the company aims to offer a land-based, predictable source of high-quality omega-3 oils. This technology could alleviate the pressure on ocean-caught fish, the current primary source of omega-3 oils. Yield10 has made significant progress, including large-scale planting and regulatory approvals. The collaboration began in 2020, and recent field tests have shown promising results, including herbicide-tolerant Camelina. The company plans to commercialize these products by 2024, with a focus on improving Camelina varieties for better performance.
Yield10 Bioscience announced that the U.S. EPA has approved an amendment to the INTERLINE® Herbicide label to include Camelina. This allows Yield10’s glufosinate-tolerant Camelina to be sprayed with INTERLINE, providing effective weed control during field production. INTERLINE, marketed by UPL, is now available for use on Camelina, a crop gaining traction in North America as a biofuel feedstock. Yield10 is also developing Camelina for omega-3 oil production. This regulatory progress supports the large-scale adoption and commercial viability of Camelina in North America.
Yield10 Bioscience (Nasdaq: YTEN) reported its Q1 2024 financial results, highlighting a strategic shift to focus on commercializing Camelina products for the aquafeed and nutritional markets. The company earned $1 million in milestone payments from Vision Bioenergy Oilseeds and plans regulatory approvals and commercial partnerships for omega-3 oil sales.
Recent progress includes U.S. EPA and USDA-APHIS clearances for herbicide-tolerant Camelina and new patents for traits boosting crop yield. A reverse stock split was effected on May 2, 2024. Yield10 ended Q1 2024 with $1.6 million in cash, reduced operating expenses, and a net loss of $2.5 million. The company continues to work towards commercialization and regulatory milestones.
On May 15, 2024, Yield10 Bioscience (Nasdaq:YTEN) announced its delisting from Nasdaq due to non-compliance with the minimum stockholders’ equity requirement of $2,500,000 set by Nasdaq Listing Rule 5550(b)(1). Trading suspension of YTEN on Nasdaq will start on May 16, 2024, after which the shares will trade publicly on the OTC Markets under the same symbol, YTEN. Yield10 plans to apply for trading on the OTC-QB market. The company assures that the transition to the OTC Market will not impact its business operations and remains committed to advancing Camelina development and exploring strategic opportunities to enhance shareholder value. The common stock will continue to be SEC-registered and reports will be available on the SEC's website. This announcement aligns with Nasdaq Listing Rule 5810(b) requirements.
Yield10 Bioscience, Inc. announced a 1-for-24 reverse stock split of its common stock following stockholder approval. The reverse stock split will reduce outstanding shares from 15,420,951 to 642,539, with proportional adjustments to options and warrants. The split aims to increase the market price per share to maintain Nasdaq listing, with trading under symbol 'YTEN' continuing. Stockholders will receive cash for fractional shares, and no action is needed for registered stockholders. More information is available in the definitive proxy statement filed with the SEC.
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