Arcadia Bioscien Stock Price, News & Analysis

Arcadia Biosciences (RKDA) has appointed Stan Jacot as the new CEO, effective February 2, 2022. Jacot brings a wealth of experience from his previous roles, including a successful tenure at Jane's Dough Foods, where he achieved significant growth. He aims to leverage Arcadia's innovative, plant-based product portfolio, highlighting the upcoming launch of GoodWheat pasta. The board's decision follows a nationwide search, and Jacot's appointment includes a stock option grant of 316,108 shares at an exercise price of $0.91, vesting over four years.

Arcadia Biosciences, Inc. (Nasdaq: RKDA) appointed Kevin Comcowich as interim CEO effective January 1, 2022, while the board finalizes its search for a permanent replacement. Comcowich, the current Chairman since 2017, takes over following the departure of Matthew Plavan, the CEO since 2019, on December 31, 2021. The company is expanding into the consumer packaged goods sector, emphasizing plant-based health products.

Arcadia Biosciences (Nasdaq: RKDA) has appointed Brian Schaffer as Senior Vice President of Sales to spearhead the retail launch of its GoodWheat brand in 2022. Schaffer brings extensive experience from top CPG firms like PepsiCo and Kellogg's, enhancing the company's strategy in a competitive market. His predecessor, Chris Cuvelier, will leave the company on November 30 to pursue other opportunities. This leadership change aims to bolster growth in Arcadia's plant-based health products, including Zola coconut water and Saavy Naturals.

Arcadia Biosciences, Inc. (Nasdaq: RKDA) reported significant growth in Q3 2021 with revenues soaring to $2.4 million, a 657% increase from $314,000 in Q3 2020. The nine-month revenue grew to $4.6 million, a 410% rise from the previous year. This growth was attributed to the newly acquired wellness brands and increased sales of GoodHemp and GoodWheat products. However, total operating expenses also rose to $11.1 million, leading to a net loss of $2.2 million, down from $6.4 million a year earlier. The company is set for a full launch of its GoodWheat pasta line in Q1 2022.

Arcadia Biosciences (Nasdaq: RKDA) will disclose its Q3 financial results and business highlights on November 15, 2021. The announcement follows their strategy to enhance plant-based health products. A conference call is scheduled for 4:30 p.m. Eastern time to review the outcomes and significant achievements. Investors can join via U.S. Toll-Free or International Dial-In numbers. A live webcast will also be available on their investor website, along with a replay post-call.

Arcadia Biosciences (Nasdaq: RKDA) has announced a national search for a new CEO as Matt Plavan prepares to step down, likely by year-end. Plavan, who joined in 2016 and became CEO in 2019, has led the company through a pivotal transformation from agricultural biotech to consumer packaged goods (CPG). The board emphasizes the need for a leader with CPG experience to build on the current momentum and capitalize on growth opportunities. Arcadia's product portfolio includes health and wellness brands such as GoodWheat and Lief.

Arcadia Biosciences (Nasdaq: RKDA) reported five-fold revenue growth for Q2 2021, reaching $1.4 million compared to $281,000 in Q2 2020. Total revenues for the first half of 2021 were $2.2 million, up from $590,000 a year earlier. The net loss attributable to common stockholders improved 46% to $5.3 million. Key developments include the integration of operations post-Lief acquisition and the sale of Bioceres shares for over $27 million. The appointment of experienced CPG leaders aims to enhance brand awareness and growth.

Arcadia Biosciences (Nasdaq: RKDA) will release its financial and business results for Q2 and the first half of 2021 post-market on August 16, 2021. A conference call is scheduled for 4:30 p.m. Eastern time to discuss these results and strategic achievements. Interested parties can join via U.S. Toll-Free Dial-In at +1-844-243-4690 or International Dial-In at +1-225-283-0138. The call will also be available via live webcast on Arcadia's investor website.

Arcadia Biosciences (Nasdaq: RKDA) has appointed Laura Pitlik as its new chief marketing officer to enhance its consumer goods platforms after key acquisitions. Pitlik, an experienced strategist in consumer packaged goods, will manage brand development and omnichannel marketing for Arcadia's health and wellness portfolio, including brands like GoodWheat and Zola. CEO Matt Plavan highlights this strategic move as a way to position the company for growth in the plant-based food sector, leveraging its innovations in nutrition.