Cibus reports Q4 EPS ($12.59), consensus ($1.43)

Reports Q4 revenue $1.1M, consensus $380,000. The increase of $9.66 in net loss per share of Class A common stock is primarily driven by the non-cash goodwill and intangible assets impairment which accounted for approximately $11.32 in net loss per share of Class A common stock. This is partially offset by a year-over-year increase in weighted average shares outstanding. “2023 was a pivotal year for Cibus, both in terms of our evolution as a public company following the merger with Calyxt and the implementation of our commercial strategy as we transformed from our research and development origins,” stated Rory Riggs, Co-Founder, Chairman, and CEO of Cibus. “The centerpiece of our commercialization goals are the commercial advancement of each of our three developed traits – Pod Shatter Reduction in Canola, and our two herbicide tolerance traits in Rice, HT1 and HT3. We’ve made significant progress on the commercial front with several advancements of these developed traits, including transfers to customers. We also continued the progression of our advanced traits – Sclerotinia resistance, and our HT2 trait in Canola and Winter Oilseed Rape – and our efforts to extend our proprietary RTDS platform to the world’s major crops. Furthermore, we celebrated a key catalyst for our industry in February when the EU Parliament voted to advance new regulations that, when adopted, will treat the applications of gene editing technology like ours in a similar fashion as conventional hybridization techniques that have been in existence for centuries. This vote was a significant milestone for our entire industry and is a crucial step that will help Cibus usher in the gene editing era.”