Cibus, Inc. (Nasdaq: CBUS) (the Company), a
leading agricultural technology company that develops and licenses
plant traits to seed companies, today announced its financial
results for the quarter ended September 30, 2023, and provided
a business update.
Summary Update
- Continued progress toward the commercialization of pod shatter
reduction (PSR) trait in canola and winter oilseed rape (WOSR)
- Continued transfers of elite PSR edited canola and WOSR lines
including Cibus gene-edited traits back to customers1 for
pre-commercialization testing
- Of 10 customers, 2 transfers completed by third quarter
2023
- Commenced PSR field trials for WOSR in the UK
- Continued progress toward the commercialization of HT1 and HT3
in rice
- Large increase in customer base in North and South America
- Acreage potential from these customers exceeds 5 million
- Continued progress in developing the Company's soybean single
cell operating system
- Key work on soybean operating system expected in the fourth
quarter of 2023, with the system projected to come fully online
during 2024
- Continued positive developments in gene editing regulations
- The UK approved a law to exempt genome-edited crops from
genetically-modified organism (GMO) regulations
- The EU recently published proposed regulations that would also
treat certain gene edited lines in a similar way to conventional
breeding
1 See “About the Trait Machine System (the "Trait Machine™")”
for information regarding our initial customer relationships.
Management Commentary
"We have been laser focused on driving our
evolution from an R&D company to a commercial company," said
Rory Riggs, Co-Founder, Chairman, and CEO of Cibus. "Our most
important milestone to date has been the ongoing advancement of our
commercialization efforts for our trait pipeline expansion efforts.
We are pleased with the progress we have made in both canola and
rice. In canola, for our pod shatter reduction trait, we have ten
customers that have sent us their elite germplasm for editing. We
are advancing the edited germplasm for each customer line and began
transferring their germplasm back to them. As of the end of
September, we have returned elite germplasm with our edits to
customers in both rice and canola. In rice, we continue to grow our
customer base for HT1 and HT3, and have also initiated
collaborations with customers in South America, representing
millions of acres of rice."
Peter Beetham, President and COO of Cibus,
commented, "The third quarter is an important period for field
studies. This summer, we successfully completed field trials for
our three developed traits — pod shatter reduction in canola, HT1,
and HT3 in rice. The preliminary data observations are encouraging
and is further validation of the technology behind our Rapid Trait
Development System™ or RTDS® (RTDS). We continue
to advance our Sclerotinia trait pipeline and planted our first
field testing across multiple locations this past summer to enable
validation and performance trialing of our various modes of action
as they advance through the pipeline."
Mr. Riggs concluded, "We are ending the quarter
with significant progress toward the commercialization of our three
developed traits in canola and rice and the advancement of our two
others under development. We have also witnessed important
milestones in the global regulation of gene editing and believe we
are at a historic inflection point in gene editing in agriculture
where, for the first time, we are seeing the development and
commercial advancement of gene edited traits in important
crops."
Major Milestones Achieved in 2023Trait Platform
Pipeline (3 Crops/5 Traits)
- The Company is successfully
returning back to customers their elite germplasm bearing the
Company's traits and continues to receive additional elite
germplasm for editing and advancing its developed traits.
- As of Q3 2023, Cibus has received
elite germplasm from 10 customers for its PSR trait and now has 3
customers for its rice herbicide traits in North and South
America.
- During the 2023 field season, Cibus
completed extensive field trials for its 3 developed traits, PSR in
canola and HT1 and HT3 in rice. Preliminary data observations are
encouraging. The canola PSR and rice HT1 and HT3 traits are now
advanced in customer genetics, and canola hybrids and rice
varieties are being produced in winter nurseries for customer
pre-commercial performance evaluation in 2024.
- New legislation in the UK has
enabled research and development of gene edited varieties. Under
these new provisions, the Company initiated field trials in the UK
for our PSR trait in WOSR in Q3 2023 opening potential for customer
expansion of Cibus PSR traits.
- New legislative initiatives in the
EU continue legislative momentum toward the treatment of
"conventional-like" gene edited traits that do not involve
transgenes as conventional varieties.
- Cibus established its first
multi-locational field testing network for Sclerotinia (White Mold)
resistance testing of its trait pipeline.
- In canola, for its advanced traits,
Cibus continues work for additional modes of action for Sclerotinia
resistance and edits for HT2 remain on track in advancing the
Company's development pipeline.
Corporate
- Recent years have seen the
introduction of policies advancing the use of gene editing in
multiple countries around the world. On July 5th, the EU College of
Commissioners adopted the European Commission proposal on the
regulation of plants obtained from New Genomic Techniques (NGTs).
The proposed regulation identifies a ‘Conventional-like’ category
of NGT products that would be regulated in a similar manner as
conventional varieties, bringing EU policy closer to that of
trading customers in North and South America, Australia, and Japan.
In the proposal, the Commission highlights the potential of NGTs to
contribute to more sustainable agriculture, climate resilience, and
food security. Under this proposal, products from the Company's
gene editing platform would be considered ‘Conventional-like'.
- In October, Cibus underwent a
strategic realignment to focus on its primary commercial goal of
advancing late-stage activities. The Company's operations are now
centered on completing the launch of its initial 3 traits, PSR,
HT1, and HT3, within its crop programs for canola/WOSR and rice.
This shift also aligns with Cibus' focus on the advancement of its
soybean platform and the further development of its Sclerotinia
resistance trait and HT2 trait in canola/WOSR, and soybean. Cibus
believes that this refocusing on its strengths and top priorities
positions it well to achieve its strategic objectives.
- As part of this strategic
realignment, the Company initiated prudent cost reduction measures
aimed at preserving capital resources for the advancement of its
priority objectives. Considering the anticipated cost savings, and
without accounting for potential financing transactions, the
Company expects that its existing cash and cash equivalents will
cover planned operating expenses and capital expenditure needs
early into the first quarter of 2024. Cibus actively evaluates
capital markets conditions and funding opportunities on an ongoing
basis.
- In August 2023, Steve Berreth was
appointed General Counsel and Corporate Secretary at Cibus, having
previously served as the Vice President, General Counsel, and
Secretary at Syngenta Crop Protection LLC, a subsidiary of Syngenta
AG, one of the world’s largest biotechnology agribusinesses.
Leveraging his extensive industry expertise, Mr. Berreth is poised
to play a pivotal role in driving the Company's growth and
commercial development. His experience in overseeing global legal
and licensing teams at Syngenta, especially within the seed
industry and the large trait royalty business, positions him to
make valuable contributions to the Company's future success.
Future 2023 Milestones
Cibus has several important development and
commercial milestone targets:
- Enabling regeneration of soybean
plants from single cells is expected to be completed in the fourth
quarter of 2023, with initial edits and improvements of this system
projected during 2024.
- Transfer its PSR trait in up to 4
additional elite germplasm of additional seed company
customers.
- Additional rice customers for HT1
and HT3 in South America and successful transfer of their elite
germplasm to Cibus.
Third Quarter 2023 Financial Results
- Cash position: Cash and cash
equivalents as of September 30, 2023, was $31.9 million. The
Company believes cash and cash equivalents will enable Cibus to
fund planned operating expenses and capital expenditure
requirements into the first quarter of 2024.
- Research and development (R&D)
Expense: R&D expense was $17.5 million for the quarter
ended September 30, 2023, compared to $3.0 million in the
year-ago period. The increase of $14.5 million is primarily related
to increased lab supply and facility expenses, an increase in
employee headcount, and an increase in stock-based compensation
expense for restricted stock award grants.
- Selling, general, and
administrative (SG&A) expense: SG&A expense was $8.8
million for the quarter ended September 30, 2023, compared to
$3.3 million in the year-ago period. The increase of $5.5 million
is primarily related to an increase in headcount, increased
consulting and legal fees, and an increase in stock-based
compensation expense for restricted stock award grants.
- Non-operating income (expenses):
Non-operating income was $(0.9) million for the quarter ended
September 30, 2023, compared to $0.3 million in the year-ago
period. The decrease of $1.2 million in non-operating income is due
to changes in the fair value of the liability classified Class A
common stock warrants.
- Net loss: Net loss was $34.5
million for the quarter ended September 30, 2023, compared to
$6.0 million in the year-ago period.
- Net loss per
share of Class A common stock was $(1.59) for the quarter ended
September 30, 2023, compared to $(6.36) in the year-ago
period.
Conference Call and Webcast
InformationCibus will host a live webcast, Thursday,
November 9, 2023, at 4:30 p.m. Eastern Standard Time to discuss its
third quarter 2023 financial results and provide a business update.
The conference call can be accessed live over the phone by dialing
(877) 243-8548 or for international callers by dialing (312)
281-2974. A replay of the call will be available through November
23, 2023 by dialing (844) 512-2921 or for international callers by
dialing (412) 317-6671; the passcode is 22028314.A live audio
webcast of the call will be available under "News & Events” in
the Investor section of the Company's website, investor.cibus.com.
An archived webcast will be available on the Company's website for
90 days after the event.
About the Trait Machine System
(the Trait
Machine™)
The Trait Machine is a dedicated semi-automated
end-to-end process for precision gene editing that delivers trait
products that integrate into our seed company customers' breeding
programs. It is a process of gene editing at scale and speed that
uses the world’s best crop genetics (a seed company’s elite
germplasm or seeds). The Trait Machine is based on the Company's
proprietary Rapid Trait Development System™, RTDS®
(RTDS). Under the recent European Commission's proposal on
regulation of plants obtained from new genomic techniques, such as
the traits from the Trait Machine would be regulated as
“conventional-like” (breeding).Cibus believes that RTDS and the
Trait Machine represents a technological breakthrough in plant
breeding that is the ultimate promise of plant gene editing, a
dedicated “industrial” breeding process at scale whose trait
products are indistinguishable from conventional breeding or
nature, and a process that provides the ability to change the scale
and range of possible genetic solutions from breeding and with it,
to develop the desired characteristics or traits needed for greater
farming sustainability and food security with greater speed and
accuracy.The Company recently opened the Oberlin Facility which is
the first dedicated Trait Machine facility. It is modeled on high
quality biologics manufacturing processes from the pharmaceutical
industry. The Trait Machine is crop specific. It is currently
operational for canola, winter oilseed rape, and rice. Cibus plans
to extend this to soybean. Cibus expects the soybean platform Trait
Machine to be fully online in 2024. The promise is that, at scale
and with the additional Trait Machine crop platforms, Cibus will be
able to launch important multi-crop traits simultaneously across
multiple crops.
Because the Trait Machine is intended to be
integrated into seed companies’ breeding operations, the customer
relationship between Cibus and seed companies with which it engages
is a progressive relationship. Typically, the customer relationship
is initiated with Cibus through the entry into a material transfer
agreement pursuant to which seed companies transfer elite germplasm
lines to Cibus for gene-editing and delivery back to the seed
company for pre-commercialization testing and validation.
Accordingly, Cibus refers to seed company “customers” in its
disclosure once such a customer relationship has been initiated. At
present, all of the Company's customers discussed in this press
release are at this initial stage of a relationship. While this
initial stage of such customer relationships is a necessary
prerequisite to the entry into a revenue generating commercial
contract with such seed companies, currently, Cibus has certain
customer relationships which include commercial contract terms, as
well as others that are in various stages of development, including
some in trait evaluation and/or field testing, however these
have not yet generated revenue.About Cibus
Cibus is a leader in gene edited productivity
traits that address critical productivity and sustainability areas
for farmers such as diseases and pests which the United Nations
estimates cost the global economy approximately $300 billion
annually. Cibus is not a seed company. It is a technology company
that develops and licenses traits to leading seed companies. The
Company's focus is developing scale, multi-crop traits in the major
global crops such as canola, rice, and soybean. Traits that can
make a real impact in global agricultural productivity. Cibus is
the technology leader in high-throughput gene editing technology
with its Trait Machine. It enables Cibus to develop plant traits
precisely and predictably at a fraction of the time and cost of
conventional breeding. Cibus has developed a pipeline of five
productivity traits including important traits for pod shatter
reduction, disease resistance, and weed management. Its initial
traits for pod shatter reduction and weed management are developed
and are in commercial collaborations with leading seed companies.
Its other pipeline traits, including Sclerotinia resistance, are in
advanced greenhouse and field trial stages.
Forward Looking Statements
This press release contains “forward-looking
statements” within the meaning of applicable securities laws,
including The Private Securities Litigation Reform Act of 1995. All
statements, other than statements of present or historical fact
included herein, including statements regarding the benefits of the
Merger Transactions (defined below), Cibus’ operational and
financial performance, Cibus’ strategy, future operations,
prospects and plans, including the Company's projected cash runway,
and the anticipated regulatory environment are forward-looking
statements. Forward-looking statements may be identified by words
such as “anticipate,” “believe,” “intend”, “expect,” “plan,”
“scheduled,” “could,” “would” and “will,” or the negative of these
and similar expressions.
These forward-looking statements are based on
the current expectations and assumptions of Cibus’ management about
future events, which are based on currently available information.
These forward-looking statements are subject to numerous risks and
uncertainties, many of which are difficult to predict and beyond
the control of Cibus. Cibus’ actual results, level of activity,
performance, or achievements could be materially different than
those expressed, implied, or anticipated by forward-looking
statements due to a variety of factors, including, but not limited
to: risks associated with the possible failure to realize certain
anticipated benefits of the merger between Cibus Global, LLC and
Calyxt, Inc. (Merger Transactions); the effect of the completion of
the Merger Transactions on Cibus’ business relationships, operating
results, and business generally; the outcome of any litigation
related to the Merger Transactions; changes in expected or existing
competition; challenges to Cibus’ intellectual property protection
and unexpected costs associated with defending intellectual
property rights; increased or unanticipated time and resources
required for Cibus’ platform or trait product development efforts;
Cibus’ reliance on third parties in connection with its development
activities; challenges associated with Cibus’ ability to
effectively license its productivity traits and sustainable
ingredient products; the risk that farmers do not recognize the
value in germplasm containing Cibus’ traits or that farmers and
processors fail to work effectively with crops containing Cibus’
traits; challenges that arise in respect of Cibus’ production of
high-quality plants and seeds cost effectively on a large scale;
Cibus’ need for additional funding to finance its activities and
challenges in obtaining additional capital on acceptable terms, or
at all; Cibus’ dependence on distributions from Cibus Global, LLC
to pay taxes and cover its corporate and overhead expenses;
regulatory developments that disfavor or impose significant burdens
on gene-editing processes or products; Cibus’ ability to achieve
commercial success; commodity prices and other market risks facing
the agricultural sector; technological developments that could
render Cibus’ technologies obsolete; changes in macroeconomic and
market conditions, including inflation, supply chain constraints,
and rising interest rates; dislocations in the capital markets and
challenges in accessing liquidity and the impact of such liquidity
challenges on Cibus’ ability to execute on its business plan; the
Company's assessment of the period of time through which its
financial resources will be adequate to support operations; and
other important factors discussed in “Risk Factors of Cibus, Inc.”
filed as Exhibit 99.3 with Cibus’ Current Report on Form 8-K, which
was filed with the Securities and Exchange Commission (the “SEC”)
on June 1, 2023, under the heading "Item 8.01 - Other Events -
Supplemental Risk Factors" in the Company's Current Report on Form
8-K filed on October 18, 2023, and any additional “Risk Factors”
identified in Cibus’ subsequent reports on Forms 10-Q and 8-K filed
with the SEC. Should one or more of these risks or uncertainties
occur, or should underlying assumptions prove incorrect, actual
results and plans could differ materially from those expressed in
any forward-looking statements. Cibus’ assessment of the period of
time through which its financial resources will be adequate to
support its operations is a forward-looking statement and involves
such risks and uncertainties. Accordingly, the Company could use
its available capital resources sooner than it currently expects.In
addition, the forward-looking statements included in this press
release represent Cibus’ views as of the date hereof. Cibus
specifically disclaims any obligation to update such
forward-looking statements in the future, except as required under
applicable law. These forward-looking statements should not be
relied upon as representing Cibus’ views as of any date subsequent
to the date hereof.
CIBUS CONTACTS:
INVESTOR RELATIONSKaren
Troeberktroeber@cibus.com858-450-2636
Jeff Sonnek – ICR jeff.sonnek@icrinc.comMEDIA
RELATIONSColin Sanfordcolin@bioscribe.com203-918-4347
|
CIBUS, INC. CONDENSED CONSOLIDATED BALANCE
SHEETS (Unaudited and in Thousands, Except Par
Value and Share Amounts) |
|
|
September 30,2023 |
|
December 31,2022 |
Assets |
|
|
|
Current
assets: |
|
|
|
Cash and cash equivalents |
$ |
31,883 |
|
|
$ |
3,427 |
|
Restricted cash |
|
— |
|
|
|
99 |
|
Accounts receivable |
|
560 |
|
|
|
— |
|
Prepaid expenses and other current assets |
|
2,029 |
|
|
|
606 |
|
Total current assets |
|
34,472 |
|
|
|
4,132 |
|
Property, plant, and
equipment, net |
|
17,197 |
|
|
|
4,516 |
|
Operating lease right-of-use
assets |
|
22,935 |
|
|
|
13,615 |
|
Intangible assets, net |
|
134,921 |
|
|
|
158 |
|
Goodwill |
|
585,266 |
|
|
|
— |
|
Other non-current assets |
|
1,444 |
|
|
|
— |
|
Total
assets |
$ |
796,235 |
|
|
$ |
22,421 |
|
Liabilities, redeemable noncontrolling interest, and stockholders’
equity |
|
|
|
Current
liabilities: |
|
|
|
Accounts payable |
$ |
6,281 |
|
|
$ |
340 |
|
Accrued expenses |
|
5,092 |
|
|
|
173 |
|
Accrued compensation |
|
3,704 |
|
|
|
107 |
|
Due to related parties |
|
— |
|
|
|
175 |
|
Deferred revenue |
|
1,637 |
|
|
|
107 |
|
Current portion of notes payable |
|
1,165 |
|
|
|
— |
|
Current portion of financing lease obligations |
|
235 |
|
|
|
97 |
|
Current portion of operating lease obligations |
|
5,436 |
|
|
|
367 |
|
Class A common stock warrants |
|
1,512 |
|
|
|
291 |
|
Other current liabilities |
|
17 |
|
|
|
5 |
|
Total current liabilities |
|
25,079 |
|
|
|
1,662 |
|
Notes payable, net of current
portion |
|
629 |
|
|
|
— |
|
Financing lease obligations,
net of current portion |
|
102 |
|
|
|
— |
|
Operating lease obligations,
net of current portion |
|
18,844 |
|
|
|
13,447 |
|
Royalty liability - related
parties |
|
157,113 |
|
|
|
— |
|
Other non-current
liabilities |
|
1,974 |
|
|
|
79 |
|
Total
liabilities |
|
203,741 |
|
|
|
15,188 |
|
Redeemable noncontrolling
interest |
|
129,104 |
|
|
|
— |
|
Stockholders’ equity: |
|
|
|
Class A common stock, $0.0001
par value; 210,000,000 shares authorized; 17,656,831 shares issued
and 16,659,996 shares outstanding as of September 30, 2023, and
978,912 shares issued and 976,908 shares outstanding as of December
31, 2022 |
|
8 |
|
|
|
5 |
|
Class B common stock, $0.0001
par value; 90,000,000 shares authorized; 4,642,636 shares issued
and outstanding as of September 30, 2023, and no shares authorized;
and no shares issued and outstanding as of December 31, 2022 |
|
— |
|
|
|
— |
|
Additional paid-in
capital |
|
727,821 |
|
|
|
220,422 |
|
Class A common stock in
treasury, at cost; 32,660 shares as of September 30, 2023, and
2,007 shares as of December 31, 2022 |
|
(1,785 |
) |
|
|
(1,043 |
) |
Accumulated deficit |
|
(262,664 |
) |
|
|
(212,151 |
) |
Accumulated other
comprehensive income |
|
10 |
|
|
|
— |
|
Total stockholders’
equity |
|
463,390 |
|
|
|
7,233 |
|
Total liabilities, redeemable
noncontrolling interest, and stockholders' equity |
$ |
796,235 |
|
|
$ |
22,421 |
|
|
CIBUS, INC. CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS (Unaudited and in
Thousands, Except Share and Per Share Amounts) |
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Revenue: |
|
|
|
|
|
|
|
Revenue |
$ |
475 |
|
|
$ |
42 |
|
|
$ |
714 |
|
|
$ |
115 |
|
Total revenue |
|
475 |
|
|
|
42 |
|
|
|
714 |
|
|
|
115 |
|
Operating expenses: |
|
|
|
|
|
|
|
Research and development |
|
17,521 |
|
|
|
3,016 |
|
|
|
28,159 |
|
|
|
9,207 |
|
Selling, general, and administrative |
|
8,751 |
|
|
|
3,229 |
|
|
|
22,126 |
|
|
|
9,965 |
|
Total operating expenses |
|
26,272 |
|
|
|
6,245 |
|
|
|
50,285 |
|
|
|
19,172 |
|
Loss from
operations |
|
(25,797 |
) |
|
|
(6,203 |
) |
|
|
(49,571 |
) |
|
|
(19,057 |
) |
Royalty
liability interest expense - related parties |
|
(8,136 |
) |
|
|
— |
|
|
|
(10,753 |
) |
|
|
— |
|
Other interest income
(expense), net |
|
281 |
|
|
|
(47 |
) |
|
|
359 |
|
|
|
(80 |
) |
Non-operating income
(expenses) |
|
(876 |
) |
|
|
300 |
|
|
|
(466 |
) |
|
|
5,083 |
|
Loss before income taxes |
|
(34,528 |
) |
|
|
(5,950 |
) |
|
|
(60,431 |
) |
|
|
(14,054 |
) |
Income taxes |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net loss |
$ |
(34,528 |
) |
|
$ |
(5,950 |
) |
|
$ |
(60,431 |
) |
|
$ |
(14,054 |
) |
Net loss attributable to
redeemable noncontrolling interest |
|
(8,099 |
) |
|
|
— |
|
|
|
(9,918 |
) |
|
|
— |
|
Net loss attributable to
Cibus, Inc. |
$ |
(26,429 |
) |
|
$ |
(5,950 |
) |
|
$ |
(50,513 |
) |
|
$ |
(14,054 |
) |
Basic and diluted net
loss per share of Class A common stock |
$ |
(1.59 |
) |
|
$ |
(6.36 |
) |
|
$ |
(6.33 |
) |
|
$ |
(15.56 |
) |
Weighted average
shares of Class A common stock outstanding – basic and
diluted |
|
16,641,127 |
|
|
|
935,702 |
|
|
|
7,979,132 |
|
|
|
903,476 |
|
|
CIBUS, INC. CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS (Unaudited and in
Thousands) |
|
|
|
Nine Months Ended September 30, |
|
|
|
2023 |
|
|
|
2022 |
|
Operating activities |
|
|
|
|
Net loss |
|
$ |
(60,431 |
) |
|
$ |
(14,054 |
) |
Adjustments to reconcile net loss to net cash used by operating
activities: |
|
|
|
|
Royalty liability interest expense - related parties |
|
|
10,753 |
|
|
|
— |
|
Depreciation and amortization |
|
|
2,875 |
|
|
|
1,158 |
|
Stock-based compensation |
|
|
11,670 |
|
|
|
2,890 |
|
Change in fair value of liability classified Class A common stock
warrants |
|
|
1,221 |
|
|
|
(5,009 |
) |
Other |
|
|
17 |
|
|
|
— |
|
Changes in operating assets and liabilities, net of
acquisitions: |
|
|
|
|
Accounts receivable |
|
|
1,674 |
|
|
|
— |
|
Due to/from related parties |
|
|
(95 |
) |
|
|
(34 |
) |
Prepaid expenses and other current assets |
|
|
1,111 |
|
|
|
297 |
|
Accounts payable |
|
|
(61 |
) |
|
|
(188 |
) |
Accrued expenses |
|
|
1,357 |
|
|
|
41 |
|
Accrued compensation |
|
|
738 |
|
|
|
(166 |
) |
Deferred revenues |
|
|
340 |
|
|
|
(115 |
) |
Right-of-use assets and lease liabilities, net |
|
|
(28 |
) |
|
|
154 |
|
Other assets and liabilities, net |
|
|
(334 |
) |
|
|
(575 |
) |
Net cash used by operating activities |
|
|
(29,193 |
) |
|
|
(15,601 |
) |
Investing activities |
|
|
|
|
Cash acquired from merger with Cibus Global, LLC |
|
|
59,381 |
|
|
|
— |
|
Purchases of property, plant, and equipment |
|
|
(3,872 |
) |
|
|
(1,509 |
) |
Net cash provided by (used) by investing activities |
|
|
55,509 |
|
|
|
(1,509 |
) |
Financing activities |
|
|
|
|
Proceeds from Class A common stock issuance |
|
|
— |
|
|
|
11,209 |
|
Costs incurred related to the issuance of Class A common stock |
|
|
— |
|
|
|
(962 |
) |
Proceeds from draws on revolving line of credit from Cibus Global,
LLC |
|
|
2,500 |
|
|
|
— |
|
Payment of taxes related to vested restricted stock units |
|
|
(742 |
) |
|
|
— |
|
Proceeds from issuance of notes payable |
|
|
1,287 |
|
|
|
— |
|
Repayments of financing lease obligations |
|
|
(242 |
) |
|
|
(353 |
) |
Repayments of notes payable |
|
|
(760 |
) |
|
|
— |
|
Net cash provided by financing activities |
|
|
2,043 |
|
|
|
9,894 |
|
Effect of exchange rate
changes on cash and cash equivalents |
|
|
(2 |
) |
|
|
— |
|
Net increase (decrease) in cash, cash equivalents, and restricted
cash |
|
|
28,357 |
|
|
|
(7,216 |
) |
Cash, cash equivalents, and
restricted cash – beginning of period |
|
|
3,526 |
|
|
|
14,421 |
|
Cash, cash
equivalents, and restricted cash – end of period |
|
$ |
31,883 |
|
|
$ |
7,205 |
|
Cibus (NASDAQ:CBUS)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Cibus (NASDAQ:CBUS)
Gráfica de Acción Histórica
De May 2023 a May 2024