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Cibus, Inc. develops and licenses gene-edited plant traits for seed companies rather than selling seed directly. Its proprietary high-throughput gene-editing technologies, including the Rapid Trait Development System™, are used to create productivity traits for major row crops that address yield, weed, disease, insect, nutrient-use and climate-related farming challenges.
Company news commonly covers rice herbicide-tolerance and weed-management traits, seed-company and research partnerships, sustainable ingredients work, regulatory developments for precision breeding, financial results, board composition, shareholder voting matters and capital-structure actions. Updates also describe how Cibus seeks royalty revenue from licensed traits included in customers' seed products.
Cibus (NASDAQ: CBUS) reported its Q4 2024 financial results and business updates. The company achieved significant milestones in gene editing technology development, including:
Key developments include the EU's advancement of New Genomic Techniques legislation on March 14, 2025, and California Rice Commission's historic approval for gene-edited rice field trials. The company affirmed strategic collaborations with Albaugh and RTDC for herbicide tolerance traits in rice, while making progress in Sclerotinia resistance with a fourth mode of action in Canola.
Financial highlights for Q4 2024:
- Cash position: $14.4 million as of December 31, 2024
- R&D expenses: $12.4 million, down from $14.2 million year-ago
- Net loss: $25.8 million ($0.87 per share)
The company completed a $22.6 million registered direct offering in January 2025, expecting to fund operations into late Q3 2025. Cibus implemented cost-saving initiatives targeting $10 million in annual savings and a 20% reduction in monthly cash use.
Cibus (Nasdaq: CBUS) welcomes major progress in EU regulation of New Genomic Techniques (NGTs) as EU member states endorse the Council's negotiating mandate on March 14th, 2025. The legislation aims to regulate plants obtained through NGTs, including gene editing, to promote sustainable agriculture and food security.
The proposal introduces an 'NGT-1' category for 'conventional-like' products that could occur naturally or through conventional breeding. These products would be exempt from GMO legislation and labeling requirements, aligning EU policy with global trading partners including North and South America, UK, India, Australia, and Japan.
The Council can now enter trilogue discussions with the EU Parliament and European Commission to finalize the legislation. Cibus's RTDS® technologies produce improved crop varieties that qualify as 'conventional-like' under the proposal, focusing on rapeseed genetics for reduced seed loss, increased disease resistance, and enhanced nutrient use efficiency.
Cibus (Nasdaq: CBUS), an agricultural biotechnology company specializing in proprietary gene editing technologies for plant trait development in seeds, has scheduled its fourth quarter 2024 financial results announcement for March 20, 2025, after market close.
The company will host a conference call and audio webcast at 4:30 p.m. ET to discuss financial results and company updates. U.S. participants can dial +1-877-300-8521, while international participants can use +1-412-317-6026.
A replay will be available until April 3, 2025, accessible by dialing +1-844-512-2921 (U.S.) or +1-412-317-6671 (International) with passcode 10196898. The webcast and slides will be available on the company's investor website for 90 days after the event.
Cibus (NASDAQ: CBUS) announced promising results from controlled environment testing of its third mode of action (MOA) for Sclerotinia resistance trait in Canola. The company's proprietary Rapid Trait Development System™ (RTDS®) technology enables the Trait Machine™, a semi-automated precision breeding system.
The company has completed edits in four MOAs for Sclerotinia resistance in Canola, with ongoing field tests for two of them. Management expects to complete field and/or greenhouse tests on all four MOAs by year-end 2025. The development aims to help farmers preserve crop yields and reduce fungicide usage.
This novel approach using gene editing demonstrates potential for developing durable resistance to complex diseases more quickly compared to conventional breeding methods. The company anticipates that these traits could extend to other crops like Soybean, addressing challenges posed by climate-driven changes in crop diseases and their geographic distribution.
Cibus (NASDAQ: CBUS) announced significant leadership changes as part of its succession strategy. CEO Rory Riggs has stepped down, with President and COO Peter Beetham assuming the role of Interim CEO. Riggs will continue as Chairman of the Board of Directors, while Beetham maintains his director position.
The company, which specializes in developing and licensing plant traits to seed companies for royalties, will initiate a search for a permanent CEO, considering both internal and external candidates. Greg Gocal will continue as Chief Scientific Officer.
This transition comes at a pivotal moment as Cibus evolves from an agricultural trait development company to a commercial trait company, leveraging its proprietary Rapid Trait Development System™ (RTDS®) gene editing process. The Board expressed confidence in the leadership team's ability to execute commercial priorities during this transition period.
Cibus (NASDAQ: CBUS) has issued a significant correction regarding previously reported rice gene editing conversion rates. The company acknowledged that the previously announced rates of 10-25% in Rice have not been reconfirmed, citing high variability in conversion rate data from subsequent experiments.
Despite this setback, Cibus continues to advance its oligonucleotide directed mutagenesis (ODM) editing technologies to improve editing conversion rates across various crops. The company maintains confidence in its Rapid Trait Development System™ (RTDS®) to meet customer requirements for trait editing in their germplasm through a time-bound and predictable process.
Cibus (Nasdaq: CBUS), a leading agricultural biotechnology company specializing in proprietary gene editing technologies for seed trait development, has announced its participation in the upcoming Sidoti Micro Cap Conference. The company's presentation will be delivered by Co-Founders Rory Riggs (CEO and Chairman) and Peter Beetham (President and COO) on Thursday, January 23, 2025, at 1:45 p.m. ET (10:45 a.m. PT). The presentation will be accessible via webcast to registered participants.
Cibus Inc (NASDAQ: CBUS) has announced a $22.6 million registered direct offering of 9,040,000 shares of Class A Common Stock, including pre-funded warrants, priced at $2.50 per share. The offering includes warrants to purchase an additional 9,040,000 shares, exercisable at $2.50 per share upon stockholder approval, with a five-year expiration term.
The company will use the proceeds to fund development of productivity traits pipeline and working capital. The offering, expected to close around January 24, 2025, involves existing investors, including CEO Rory Riggs. Additionally, Cibus is amending terms for existing warrant holders, reducing exercise price from $10.00 to $2.50 per share and extending the termination date to five years post-offering.
Cibus (NASDAQ: CBUS) has announced significant breakthroughs in its proprietary RTDS gene editing process, establishing production standards that enable trait development in customer's elite germplasm within 12 months. The company has achieved standardization for traits in Rice (herbicide tolerance HT1 and HT3) and Canola (pod shatter reduction, herbicide tolerance HT2, and Sclerotinia resistance).
Key advances include improved cell biology technology, enhanced oligonucleotide directed mutagenesis (ODM) editing platform with conversion rates of 10-25% in Rice and up to 50% in Canola, and streamlined semi-automated regeneration processes. While missing its 2024 goal for an operational soybean platform, Cibus successfully edited Soybean cells with HT2 trait genetic changes.
The company's standardized process represents a significant shift from conventional breeding methods, offering a timebound and predictable system for trait development. These genetic changes are expected to be regulated similarly to naturally occurring traits, distinguishing them from GMOs.
Cibus (NASDAQ: CBUS) has affirmed its collaboration with RTDC and Albaugh to commercialize its Clethodim-tolerant HT-3 rice trait, a gene-edited weed management solution for U.S. rice farmers. The partnership combines Cibus' gene editing expertise with Albaugh's crop protection and market development capabilities.
The company has secured four seed partners for this trait - two in the United States and two in South America - and is in discussions with major rice seed companies in Asia. The HT-3 trait represents a breakthrough in herbicide tolerance technology and is expected to be the first of several stacked weed management traits in rice from Cibus.