Cibus Earnings Reports

Cibus reported a net loss in Q4 2024 while continuing to progress on commercialization and development of key agricultural traits. Revenue remained modest, and the company implemented cost-saving measures and pursued strategic partnerships to strengthen its pipeline.

Cibus reported a net loss of $201.5 million for the third quarter of 2024, which included a $181.4 million non-cash goodwill impairment. The company is focusing on advancing its weed management platform, pod shatter reduction, and sclerotinia resistance, and expects its Soybean platform to be operational by year-end 2024. They are also implementing cost-saving initiatives expected to reduce monthly cash usage by approximately 20%.

Cibus reported its second quarter financial results, highlighting progress in commercial, trait, and platform development, as well as advancements in the regulatory environment for gene editing technologies. The company reported a net loss of $28.5 million, with cash and cash equivalents totaling $30.0 million as of June 30, 2024.

Cibus reported a net loss of $27.0 million for the quarter ended March 31, 2024. The company signed three agreements for Rice across North and Latin America and achieved a breakthrough in Wheat platform development. Cibus expects that existing cash and cash equivalents will fund planned operating expenses and capital expenditure requirements into the third quarter of 2024.

Cibus reported a net loss of $277.2 million for Q4 2023, driven by a $249.4 million non-cash goodwill and intangible assets impairment. The company raised $20.3 million in gross proceeds via a registered direct offering and highlighted commercial progress with its developed traits.

Cibus reported its Q3 2023 financial results, highlighting progress in commercializing its pod shatter reduction (PSR) trait in canola and winter oilseed rape (WOSR), as well as HT1 and HT3 traits in rice. The company is advancing its soybean single cell operating system and has seen positive developments in gene editing regulations.

Cibus reported its second quarter 2023 financial results, highlighting progress on key milestones including the closing of the merger with Calyxt, commercialization of first three trait products, opening of high-throughput trait development facility, and a collaboration agreement with Bayer Ag.

Calyxt reported its Q4 2022 financial results, highlighting a merger agreement with Cibus Global and advancements in customer projects. The quarter saw nominal revenue due to the wind-down of the soybean product line, but also a decrease in operating expenses due to management actions. The company's cash runway is sufficient to fund operations through the second quarter of 2023, considering interim funding from Cibus.

Calyxt reported nominal revenue for Q3 2022, a decrease from $7.8 million in Q3 2021, and a net loss of $6.0 million, which is an improvement compared to a net loss of $7.3 million in the same quarter of the previous year. The company highlighted successful squalene production and continued customer acquisition activities. They are also evaluating strategic alternatives to maximize shareholder value.

Calyxt reported its Q2 2022 financial results, revealing nominal revenue of $41,000 compared to $11.9 million in the same quarter last year due to the completion of the wind-down of the Company’s soybean product line in late 2021. Net loss was $2.5 million, an improvement from $4.8 million in Q2 2021. The company's cash, cash equivalents, and restricted cash totaled $11.9 million as of June 30, 2022.

Calyxt reported a decrease in revenue due to the wind-down of its soybean product line, but net loss improved due to improved gross profits and reduced operating expenses. The company achieved milestones in operationalizing its BioFactory production system and expanded its AIML capabilities.

Calyxt reported a revenue of $7.8 million, a gross profit of negative $0.5 million, and a net loss of $7.3 million for Q3 2021. The company also launched a new strategic direction focusing on plant-based synthetic biology solutions and commissioned its first pilot BioFactory.

Calyxt reported a significant increase in revenue for Q2 2021, driven by higher product sales. The company also appointed Michael A. Carr as President and CEO and expanded its hemp breeding platform. Net cash used by operating activities improved year-over-year.

Calyxt's Q4 2020 revenue increased significantly due to grain sales and liquidation of inventories. However, the gross margin was negative. Operating expenses decreased, and the company secured $14.0 million in proceeds from a capital raise.