Arcadia Bioscien Stock Price, News & Analysis

Arcadia Biosciences, Inc. (RKDA) reported record revenues of $8 million for 2020, up 587% from 2019, driven by significant licensing revenue from Bioceres. The company achieved a net income of $10 million in Q4, compared to a loss in the same quarter the previous year. Arcadia expanded its GoodWheat product line and formed partnerships to enhance its market outreach, including a venture with Three Farm Daughters. Certification of GoodHemp varieties further strengthens its portfolio, while the company is well-funded for future growth. Increased operating expenses were noted, primarily due to R&D and employee-related costs.

Arcadia Biosciences (Nasdaq: RKDA) will release its 2020 fourth-quarter and annual financial results on March 30, 2021, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results and the year's strategic achievements. Interested parties can join via U.S. toll-free dial-in or international numbers. The call will be accessible via a live webcast on the company's investor website, with a replay available afterward.

Arcadia focuses on enhancing crop quality and nutrition, with its GoodWheat and GoodHemp brands delivering innovative solutions in the agricultural market.

Arcadia Biosciences, Inc. (NASDAQ: RKDA) has been granted a new patent by the U.S. Patent and Trademark Office for its high fiber resistant starch GoodWheat™, expanding its intellectual property in genome editing. This patent is the 28th for GoodWheat, which offers significant health benefits like eight times the dietary fiber and 30% fewer calories than conventional wheat. Arcadia recently launched premium GoodWheat pasta and flour products through partnerships, enhancing its market presence in North America.

Arcadia Biosciences (Nasdaq: RKDA) announced its participation in the H.C. Wainwright Global Life Sciences Conference scheduled for March 9-10, 2021. The company aims to showcase its innovative approaches to enhancing crop quality and nutritional value through scientific methods. President and CEO Matt Plavan will provide an overview of the business and engage in one-on-one meetings with investors. The presentation will be available on-demand starting March 9 at 7:00 AM (EST) and will include a replay accessible via the company’s website.

Arcadia Biosciences (Nasdaq: RKDA) announced the appointment of Debbie Carosella to its board of directors. Carosella, former CEO of Madhava Natural Sweeteners, brings extensive experience in the food industry, having held leadership roles at Dean Foods and ConAgra Foods. Her expertise in consumer marketing and brand development is expected to enhance Arcadia's commercial strategy for its health-focused products, GoodWheat™ and GoodHemp™. CEO Kevin Comcowich expressed confidence in her ability to drive innovation and growth for the company's product lines.

Arcadia Biosciences (Nasdaq: RKDA) announced that its GoodHemp™ seed varieties – Rogue, Umpqua, Santiam, and Potomac – have achieved certification from the Association of Official Seed Certifying Agencies (AOSCA). This certification ensures quality assurance and varietal purity, crucial for growers in the hemp industry. AOSCA-certified seeds are eligible for certified hemp seed production, meeting stringent U.S. Seed Act standards. The varieties are designed to enhance yield and are available for planting in states like Florida, boosting the company's position in the hemp market.

On January 25, 2021, Arcadia Biosciences (Nasdaq: RKDA) announced a private placement, raising approximately $25.1 million by selling 7,876,784 shares at $3.1925 per share. The company will also issue warrants for up to 3,938,392 shares at an exercise price of $3.13. The funds will be allocated towards general corporate purposes, including the expansion of the GoodWheat™ brand and e-commerce initiatives. The offering is expected to close on or about January 27, 2021.

Arcadia Biosciences (Nasdaq: RKDA) has successfully closed a registered direct offering of 2,618,658 shares, priced at $2.93 per share, yielding approximately $7.7 million in gross proceeds. In a concurrent private placement, the company issued warrants for an additional 2,618,658 shares at $0.125 each, generating about $327,000. The net proceeds, estimated at $7.3 million, will primarily fund customer acquisition for GoodWheat and related marketing initiatives, supporting revenue growth strategies into 2021 amid potential economic volatility.

Arcadia Biosciences (Nasdaq: RKDA) announced a registered direct offering of 2,618,658 shares at a price of $3.055 per share, aiming to raise approximately $8 million in gross proceeds. The offering includes warrants to purchase an equal number of shares at an exercise price of $3.00, exercisable immediately and expiring in five and a half years. The funds will support customer acquisition for GoodWheat, digital marketing, and corporate costs. The closing is expected around December 22, 2020.