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Dec 31, 2024
Cibus Q4 2024 Earnings Report
Cibus reported its Q4 2024 financial results and provided a business update.
Key Takeaways
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.
Q4 2024 revenue was $1,212,000.
Net loss for the quarter was $25,804,000, improving from a much larger loss in Q4 2023.
R&D expenses were reduced to $12,433,000 for the quarter.
Cash and cash equivalents stood at $14,433,000 at the end of Q4 2024.
Cibus
Cibus
Forward Guidance
Cibus plans to continue advancing its commercialization efforts across rice, canola, and soybean traits, and to expand its partnerships and revenue streams in 2025.
Positive Outlook
- Expansion of commercial relationships with rice seed companies across North and South America.
- First trait validation trials in Latin America expected in 2025.
- Successful HT2 trait edits in soybean plants positioning for expanded development.
- Continued progress on partner-funded sustainable ingredient projects.
- Field trials for multiple disease resistance modes of action in canola planned for 2025.
Challenges Ahead
- Low quarterly revenue despite active development pipeline.
- Significant quarterly net loss and ongoing operating expenses.
- High royalty liability interest expenses impacting financials.
- Dependence on future regulatory approvals for commercialization.
- Reliance on additional financing and strategic alternatives under evaluation.