Key Takeaways:
- Cibus’ Progress toward initial commercial launch of Rice herbicide tolerance traits in Latin America (2027) and the U.S. (2028).
- Partner-funded sustainable ingredients program expected to generate nominal revenues in 2025, with expansion planned in 2026.
- Cost reduction initiatives expected to reduce annualized cash usage to ~$30 million by 2026.
- Cash and cash equivalents of $36.5 million as of June 30, 2025.
- Net loss of $26.6 million for Q2 2025, compared to $28.5 million in Q2 2024.
Cibus’ Management Commentary
Peter Beetham, Interim CEO of Cibus, stated, “Our second quarter update demonstrates continued execution toward initial commercial launch of our priority productivity traits and industrialization of plant breeding technologies. We remain focused on advancing our Rice herbicide tolerance traits and our partner-funded sustainable ingredients program, while implementing cost streamlining initiatives to reduce cash usage.”
Cibus announced a new collaboration agreement with Colombian Rice producer Semillano, further advancing commercialization efforts. The Company emphasized strong pipeline traits, positive regulatory developments, and opportunities to expand customer engagement globally.
Priority Programs
Cibus Rice Herbicide Tolerance (HT1 and HT3):
- Trait editing, field trials, and registration are on track for initial Latin American launches in 2027-2028, with U.S. expansion planned for 2028 and India/Asia (excluding China) by 2030.
- Delivered HT3 Rice lines to an existing U.S. customer.
- Expanded trait stacking efforts for broader weed management in 2025 field trials.
Cibus Sustainable Ingredients Program:
- Partner-funded biofragrance products expected to generate nominal revenues in 2025.
- Targeted commercial expansion planned for 2026.
Regulatory Updates
- Ecuador recognizes Cibus’ HT1 and HT3 Rice traits as equivalent to conventional breeding.
- USDA-APHIS designates Cibus’ HT2 canola trait as “not regulated,” removing a U.S. commercialization hurdle.
- California Rice Commission approved Cibus’ gene-edited Rice field research proposal—the first authorization for gene-edited Rice in the state.
Cibus’ Opportunity Pipeline
Cibus continues to advance partner-funded programs and pipeline traits in Canola, Soybean, Wheat, and Alfalfa, including:
- Pod shatter resistance and next-generation HT2 in Canola.
- Nutrient-use efficiency trait through John Innes Centre collaboration.
- Soybean HT2 and Wheat platform development.
- Altered-lignin Alfalfa cleared for U.S. commercialization with S&W Seed Company.
Financial Results (Q2 2025)
- Cash & Equivalents: $36.5 million.
- R&D Expense: $12.2 million (down from $13.0 million).
- SG&A Expense: $6.6 million (down from $9.3 million).
- Net Loss: $26.6 million (down from $28.5 million).
- Net Loss Per Share (Class A): $0.61 (down from $1.14).
Cibus’ Board of Directors and financial advisors continue to evaluate strategic alternatives to maximize shareholder value.
Cibus
Cibus operates within the plant seed industry, focusing on high-throughput gene editing technologies designed to develop plant traits with greater precision and efficiency compared to conventional breeding. Rather than producing seeds, the company develops and licenses traits to seed companies, generating royalties from seed sales.
The company’s work targets productivity traits intended to improve yield, reduce input costs, and support sustainable farming practices. Its pipeline includes traits such as pod shatter resistance, disease resistance, and nutrient use efficiency, with a focus on multi-crop applications that could be deployed across more than 100 million acres.
1 Comment