The following is a summary of the Cibus, Inc. (CBUS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Cibus reported a net loss of $27 million for Q1 2024, increasing significantly from a net loss of $5.4 million in the previous year.

• As of March 31, 2024, the company held cash reserves amounting to $24.5 million.

• Cibus had a monthly burn rate of approximately $4.5 million, using about $13.5 million of cash from operations in the past quarter.

• The company managed to raise $6.2 million via regular equity sales in the first quarter, and an additional $9.5 million in the second quarter to date.

Business Progress:

• Cibus moved to commercial stage, licensing its developed traits to seed companies for annual royalties.

• They have signed contracts with major firms, including Nutrien and Interoc.

• Cibus expanded its RTDS gene editing platforms to cover canola, rice, and weed, and aims to include soybean by the end of the year.

• The company's technological achievements, particularly its 'trait machine', has earned it recognition from Fast Company Magazine.

• Cibus has made significant progress with gene editing technologies, securing four agreements with rice customers in the USA and Latin America.

• The company has widened its patent portfolio to ensure security for its technologies and expects to hit further milestones in the upcoming quarter.

More details: Cibus Inc IR

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