Yield10 Bioscience Inc - YTEN STOCK NEWS

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.

Yield10 Bioscience, Inc. (YTEN) reported financial results for Q4 and full year 2023, focusing on the commercialization of Camelina products for biofuel and omega-3 markets. They granted a global license to Vision Bioenergy for Camelina. Recent regulatory milestones support the commercial ramp-up of engineered Camelina varieties. Financially, the company ended 2023 with $1.1 million in cash and investments, with a net loss of $14.5 million for the year. Yield10 plans to focus on executing the development program for omega-3 Camelina, obtaining regulatory approval, and engaging commercial partners in 2024.

Yield10 Bioscience, Inc. (YTEN) will report Q4 and full year 2023 financial results on April 1, 2024, with a conference call to discuss financials, corporate highlights, and business updates. Interested parties can join the call through various channels and access a replay afterward.