Bonitas Research short Cibus, sees stock going ‘significantly lower toward zero’

In a recently published report, Bonitas Research says it is short Cibus and that it thinks the stock “is going significantly lower towards zero.” “We found no evidence that Cibus’ gene-editing technology brings desirable new crops to market. Instead, we found farmer complaints of lower crop yields and lost revenues, along with multiple examples of large seed manufacturers and distributors walking away from joint ventures and partnerships with Cibus for a variety of seed types and seed traits,” the report reads. Bonitas thinks “investors have been duped into believing a promotional management team about an over-hyped technology previously tried, tested, and failed by some of the world’s largest seed manufacturers and distributors to provide exit liquidity for early-stage Cibus investors… With less than ~US$ 24 million in cash as of March 31, 2024, we calculate that CBUS will need to either generate significant revenues or raise capital to satisfy ongoing operating expenses by September 2024.”