Yield10 Bioscience News: Announces 2023 Financial Results and Strategic Advances

Key Takeaways:

• Yield10 Bioscience reports successful execution of its 2023 strategic plan, emphasizing advancements in engineered Camelina.
• The company focuses on commercializing Camelina products for the aquafeed and nutritional markets, with revenue expected by 2025.
• Significant regulatory milestones achieved, including USDA-APHIS review for herbicide tolerance and omega-3 traits in Camelina.
• Financial overview indicates disciplined cash flow management, with a reduction in cash usage for operating activities in 2023.
• Yield10 continues to drive innovation in agricultural bioscience, aiming for sustainable agricultural solutions and commercial success.

Strategic Initiatives and Innovations

Yield10 Bioscience, Inc. (Nasdaq: YTEN), an innovator in agricultural bioscience, has reported its financial results for the fourth quarter and full year ending December 31, 2023. Dr. Oliver Peoples, President and CEO, highlighted the company’s successful execution of its strategic plan, focusing on the development of sustainable products from engineered Camelina. Yield10’s advancements aim to support grower adoption, enabling commercial-scale planting for Camelina oil and meal products targeting significant market opportunities.

In 2023, Yield10 made a pivotal strategic shift towards the commercialization of Camelina products, particularly targeting the aquafeed and nutritional markets for omega-3 fatty acids. The company’s efforts include building seed inventory, obtaining regulatory approvals, and engaging with potential commercial partners, with an anticipation of generating revenue by 2025.

Regulatory Achievements and Commercial Partnerships

Yield10 has reached several regulatory milestones, including the USDA-APHIS’s review of its herbicide tolerance (HT) and omega-3 traits, facilitating the commercial ramp-up of engineered Camelina varieties in the U.S. Furthermore, the company’s recent agreement with Vision Bioenergy Oilseeds for the production of Camelina oil for biofuels underscores Yield10’s commitment to empowering farmers and supporting the biofuel market.

Financial Performance Overview

Yield10 has maintained a disciplined approach to cash flow management, reducing cash usage for operating activities to $10.1 million in 2023 from $11.4 million in 2022. The company’s strategic financial decisions have been aimed at supporting its Camelina biofuels and omega-3 business development activities, highlighted by a commercial license granted to VISION Bioenergy Oilseeds, LLC, and a successful warrant inducement transaction raising $1.2 million net in March 2024.

Despite a net loss of $14.5 million for the year 2023, Yield10’s strategic initiatives and regulatory advancements have set a strong foundation for future growth. The company’s commitment to innovation in agricultural bioscience, particularly through the development of sustainable and commercially viable agricultural products, positions Yield10 as a leader in the field.

Yield10 Bioscience Latest News

E3902 Camelina Receives Regulatory Clearance in Canada (2024/03/27)

Yield10 Bioscience’s Camelina sativa has received positive regulatory feedback from several countries, including Canada, the US, Argentina, and Chile. The Canadian Food Inspection Agency’s Plant Biosafety Office has confirmed that the genome-edited Camelina does not constitute a Plant with Novel Trait, while other countries have exempted it from specific biotechnology regulations. Yield10 Bioscience plans to continue its development and regulatory programs to provide access to new and improved Camelina varieties to growers.

Shares Promising Outcomes From Trials (2024/03/22)

Yield10 Bioscience has received regulatory approval from the USDA-APHIS BRS for its genetically engineered Camelina sativa varieties for omega-3 fatty acid production. It allows the company to advance commercial-scale planting in the United States for aquafeed, pet feed, baby formula, nutraceuticals, and pharmaceuticals. Strategic collaborations with Rothamsted Research and BioMar Group have supported Yield10’s omega-3 Camelina program. The company plans to continue its development program, focusing on building seed inventory and progressing toward the commercial sale of omega-3 oil and meal in 2024.

Shares Promising Outcomes From Trials (2024/03/01)

Yield10 Bioscience, Inc. (Nasdaq: YTEN) has conducted field tests in the US, engineering Camelina varieties with herbicide tolerance (HT) and stacked herbicide tolerance (Stacked HT) traits to produce valuable feedstocks for the biofuel and omega-3 oil markets. Results have been promising, with genetically modified Camelina showing resilience to chemical applications, offering a sustainable alternative for growers. The regulatory approval by USDA-APHIS of Yield10’s herbicide-tolerant Camelina varieties in November 2023 is a testament to the company’s leadership in agricultural biotechnology.

Partners With VISION to Boost Biofuel Feedstock (2024/02/12)

Yield10 Bioscience and VISION Bioenergy Oilseeds have partnered to catalyze the commercial production of Camelina on a large scale for biofuel feedstock oil, contributing to global decarbonization efforts. VISION receives an array of Camelina varieties from Yield10. Yield10 aims to enhance the value chain of Camelina by sublicensing its traits. The collaboration marks a milestone in sustainable biofuel production, leveraging genetic advancements in Camelina sativa to meet growing demand for biofuels.

Advances Omega-3 Camelina Program Towards Commercialization (2024/02/08)

Yield10 Bioscience, Inc. is emphasizing its Omega-3 Camelina program in 2024, focusing on the commercialization of EPA8 Camelina for the aquafeed and human nutrition markets following successful production in Chile and regulatory advancements with USDA-APHIS in the U.S. This strategic initiative includes collaborations with BioMar and Rothamsted Research to establish a sustainable omega-3 oil source, aiming to introduce a commercial product to the aquafeed industry, pending financial viability. Additionally, Yield10 is working on regulatory approvals to enhance agronomic performance and has updated stakeholders on its efforts to maintain its Nasdaq listing status, awaiting a decision on a potential extension.

Filed A Regulatory Status Review (2024/01/09)

Yield10 Bioscience has developed Camelina sativa, a sustainable source of omega-3 fatty acids. The Rothamsted Institute collaboration aims to make Camelina a land-based source of these essential fatty acids. Yield10’s omega-3 Camelina DHA1 line produces oil similar to fish oil, with approximately 10% EPA and 10% DHA. The SECURE Rule enables more precise regulations and reduces regulatory burdens, facilitating the advancement of Yield10’s omega-3 Camelina program.

USDA-APHIS Approves Yield10 Bioscience’s Glufosinate-Tolerant Camelina (2023/11/16)

Yield10 Bioscience has achieved a significant milestone with USDA-APHIS’s approval of its glufosinate-tolerant Camelina sativa for cultivation in the U.S., under the SECURE Rule framework. This clearance paves the way for the company’s commercial launch targeted for 2025, focusing on the biofuel market and innovative weed management solutions. Yield10 is also advancing the development of Camelina varieties with combined traits for enhanced weed control and omega-3 oil production, leveraging advanced genetic tools like gene editing. This development aligns with their strategy of producing low-carbon feedstock oil and offering new agricultural solutions.

Yield10 Bioscience Q3 2023: Net Loss Increases As Company Seeks Funding (2023/11/15)

Yield10 Bioscience made progress in Q3 2023 with its “Camelina Seed Genetics to Biofuel” platform and its herbicide-tolerant Camelina varieties. The company also signed a letter of intent with BioMar Group to produce omega-3 fatty acids in Camelina. Yield10 ended Q3 with $2.8 million in cash, but there is substantial doubt about the company’s ability to continue beyond early December 2023. For Q3, the company reported a net loss of $3.7 million and estimated total net cash usage for the year to be $12.5-$13.0 million.

Secures Exclusive Global License for Advanced Omega-3 Camelina Technology from Rothamsted Research (2023/10/19)

Yield10 Bioscience exercised its option to finalize an exclusive global commercial license for advanced omega-3 production technology from Rothamsted Research Limited. The technology focuses on the sustainable, plant-based production of omega-3 oils using Camelina sativa as the platform crop. Yield10 plans to improve the varieties by deploying herbicide tolerance and performance traits. The technology developed by Rothamsted and Yield10 could offer a sustainable and predictable supply of high-quality omega-3 oils.

Yield10’s Breakthrough in Weed Control for Biofuels (2023/10/12)

Yield10 Bioscience is working to establish effective weed control for Camelina cultivation, supporting its adoption for biofuel production. They’re developing herbicide-tolerant Camelina to ensure broad acceptance by growers, and their elite HT Camelina has demonstrated tolerance in three field test cycles against a commonly used broadleaf herbicide. Yield10 is gearing up for a potential commercial launch by 2025. The company has submitted regulatory requests to meet standards. Their advancements highlight their commitment to sustainable farming practices and green energy solutions.

Yield10 Bioscience Completes Harvest of Camelina Grain (2023/10/04)

Yield10 Bioscience completed its winter and spring Camelina grain harvest for the 2022/2023 season. The harvested grain was crushed and refined into biofuel, marking the beginning of a new revenue stream for the company. Yield10 is now working on building the technology foundation to accelerate the adoption of Camelina for the biofuels market. Feedback from growers has been positive, especially in areas where drought conditions persisted over the season. Yield10 is aiming to position Camelina as a significant source of low-carbon index feedstock oil for the biofuel industry.

Closes Public Offering (2023/08/16)

Yield10 Bioscience, Inc., an agricultural bioscience firm, has successfully closed its public offering, releasing 5,750,000 units at $0.65 each. Every unit comprises a share of common stock and a warrant to buy another share at the same price. These warrants, valid for five years from their issue date, can be exercised immediately. While the stock shares and warrants were sold together, they were issued separately and can be instantly separated after issuance. The offering generated around $3.7 million in gross proceeds before accounting for fees and expenses.

Yield10 Bioscience: Reports Q2 2023 & H1 Progress (2023/08/15)

Yield10 Announces Public Offering Pricing (2023/08/12)

Yield10 Bioscience, Inc., an agricultural bioscience firm, has set the price for its public offering of 5,750,000 units at $0.65 each. These units comprise a share of common stock and a warrant to buy another share at the same price, valid for five years. While the stock and warrants are bundled in the purchase, they will be issued separately. The company anticipates gross proceeds of around $3.7 million from this offering, which is slated to conclude by August 15, 2023, pending standard closing conditions.

Yield10 Bioscience: Advancing Herbicide Tolerance in Camelina (2023/08/03)

Agricultural bioscience company Yield10 Bioscience has made significant progress in developing stacked herbicide tolerance (HT) traits in Camelina, a promising crop for biofuel production. In field tests, the company’s proprietary stacked HT Camelina varieties demonstrated remarkable tolerance to over-the-top herbicide application and Group 2 herbicide soil residues. These results are expected to drive grower adoption of stacked HT Camelina and open up access to acreage previously treated with Group 2 herbicides. Yield10 aims to launch its first commercial HT Camelina varieties in 2025, followed by the introduction of stacked HT Camelina varieties shortly after.

Revolutionizing The Omega-3 Oil Market (2023/07/27)

Yield10 Bioscience, a major agricultural bioscience company, recently made an exciting announcement regarding their efforts to develop sustainable, land-based production of omega-3 oils through proprietary elite Camelina varieties. The company filed a request for a Regulatory Status Review (RSR) with the USDA-APHIS Biotechnology Regulatory Services (BRS) under the SECURE Rule, marking a significant milestone in its mission to revolutionize the omega-3 oil market.

Miss On Both EPS & Revenue Estimates Despite Operational Progress (2023/05/11)

Yield10 Bioscience, Inc. (Nasdaq: YTEN) released its Q1 2023 financial results, achieving its internal target for contracted spring Camelina acres. The company is advancing Camelina lines to produce the EPA component of omega-3 and identifying growers for 2023/2024 winter Camelina contracts. Yield10 also signed a non-binding LOI with MPC for potential investment and an offtake agreement for low-carbon intensity Camelina feedstock oil for renewable fuel production. The company reduced its total net cash usage guidance for the year ending December 31, 2023, to $12.5 – $13.0 million.

Yield10 Bioscience Signs LOI with Marathon Petroleum (2023/05/02)

Yield10 Bioscience is advancing its plan to provide low-carbon intensity Camelina feedstock oil to the North American biofuel market through partnerships in the supply chain. The company has sold a senior unsecured convertible promissory note worth $1.0 million to an affiliate of Marathon and plans to use the net proceeds for working capital and general corporate purposes. This move aligns with global efforts to reduce carbon emissions and promote renewable energy sources.

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