Arcadia Bioscien Stock Price, News & Analysis

Arcadia Biosciences, Inc. (Nasdaq: RKDA) announced third-quarter 2020 results, reporting revenues of $314,000, down 20% from $392,000 in Q3 2019. Operating expenses increased to $7.9 million, while the net loss attributable to common shareholders decreased to $6.4 million, or ($0.60) per share, reflecting a $7.8 million drop compared to the previous year. Key strategic transactions with Bioceres Crop Solutions will enhance commercialization efforts of HB4 soybeans and GoodWheat products. The company received $6 million in cash and equity from these deals.

Arcadia Biosciences (Nasdaq: RKDA) and Three Farm Daughters have launched new food products using Arcadia's non-GMO GoodWheat™ ingredients. The initial offerings include Artisan Linguine, Fusilli, Fettuccine Pasta, and 100% Wheat Flour, available online from November 12 and in select North Dakota and Minnesota stores. GoodWheat™ boasts up to nine times the fiber of traditional wheat and lower gluten and calorie content. This partnership addresses a fiber deficiency in American diets, aiming to provide consumers with healthier family food staples.

Arcadia Biosciences, Inc. (Nasdaq: RKDA) will release its third-quarter financial and business results after the market closes on November 12, 2020. A conference call is scheduled for 4:30 p.m. Eastern time to discuss the results and strategic achievements. Participants can join via U.S. toll-free at +1-844-243-4690 or internationally at +1-225-283-0138, using passcode 1303009. A live webcast will also be available on the company's website.

Arcadia Biosciences (Nasdaq: RKDA) announced the promotion of Kevin Hodges to Vice President of Commercial Operations and the hiring of Tracy Baker as Vice President of Product Innovation. Hodges will manage supply chain operations and marketing for Arcadia's existing products, including GoodWheat and GoodHemp. Baker brings nearly 40 years of experience in product formulation and innovation, aiming to enhance product commercialization strategies. The leadership changes aim to accelerate the introduction of GoodWheat-based products as the company navigates new market opportunities.

Arcadia Biosciences (Nasdaq: RKDA) will present at the 22nd Annual Global Investment Conference hosted by H.C. Wainwright, taking place virtually from September 14-16, 2020. The company's president and CEO, Matthew Plavan, will deliver a business overview on September 16, 2020, at 2:00 p.m. EDT. Investors can register for one-on-one meetings. The presentation will be available via a live webcast, with a replay accessible on Arcadia's website. Arcadia focuses on enhancing crop quality and nutritional value through innovative agricultural practices.

Arcadia Biosciences (Nasdaq: RKDA) recently acquired Industrial Seed Innovations (ISI), a company specializing in high CBD feminized hemp seeds. This acquisition enhances Arcadia's GoodHemp™ product line, integrating ISI's Umpqua and Rogue seed varieties known for their high yield and unique characteristics. The deal is aimed at strengthening their hemp breeding platform, establishing a research facility in the Pacific Northwest, and expanding their market reach into new territories and states. CEO Matt Plavan emphasized the strategic benefits of this acquisition.

Arcadia Biosciences (Nasdaq: RKDA) reported its Q2 2020 results, revealing total revenues of $281,000, a 38% increase from $203,000 in Q2 2019, and $590,000 for the first half of 2020, up 63% from $361,000. Operating expenses rose to $7.2 million compared to $5.2 million the previous year. The net loss for Q2 2020 was $9.7 million, significantly down from a net income of $4.2 million in Q2 2019. Despite pandemic challenges, Arcadia secured $9 million through warrant exchanges to bolster its cash position and announced strategic partnerships to expand its GoodWheat and GoodHemp product lines.

Arcadia Biosciences (Nasdaq: RKDA) has announced a partnership with GoodMills Innovation to commercialize their nutritional wheat products in Europe. This collaboration aims to introduce the GoodWheat™ portfolio, which features healthier wheat options with enhanced fiber content, lower calories, and reduced allergenicity. The European milling industry, producing 35 million tons of flour annually, presents a significant opportunity for growth. CEO Matthew Plavan emphasized the innovative potential of this partnership to meet rising consumer demand for healthier food options.

Arcadia Biosciences (Nasdaq: RKDA) has entered a strategic partnership with North Dakota-based Three Farm Daughters, a majority female-owned consumer food company. This collaboration aims to develop and market food products utilizing Arcadia's patented non-GMO GoodWheat technology, which offers enhanced nutritional benefits. The first product, a refined non-enriched wheat flour, is set to launch in September 2020. This venture aligns with the rising consumer demand for healthier food options, especially during the COVID-19 pandemic, which has seen increased flour sales.