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CLOSED · 03:10 ET
Market ClerkRecap
Sun Oct 25 · markets closed1 signal on Oct 2494 insider buys this week · $48.3MCIRO short report next: Oct 30The week ahead

CBUS

Cibus, Inc.
NASDAQ · MATERIALS · AGRICULTURAL CHEMICALS
1.41
+0.01 +0.71%
USD · close Oct 23
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MKT CAP $7MP/E —DIV YIELD —FCF YIELD -660.51%REV TTM $4.3M −10.3%NET INCOME −$98.2MNET CASH $19.9M52W 1.16 – 4.05SEC XBRL · TTM TO Invalid Date

How CBUS rewrote its risk factors

10-K ITEM 1A · FY2024 → FY2025
Text kept
47%
of sentences unchanged
Added
400
new sentences
Dropped
335
sentences removed
Length
+1,139
words, now 34,972

New in FY2025

  • Risk Factors” as updated or supplemented from time-to-time in the Company’s subsequent reports on Forms 10-Q and 8-K filed with the SEC.
  • Any forward-looking statements made by the Company in this Annual Report on Form 10-K are based only on currently available information and speak only as of the date hereof.
  • Cibus’ ability to continue as a going concern will depend on its ability to obtain additional financing in the near term. • Cibus faces significant competition and many of its competitors have substantially greater financial, technical, and other resources than Cibus does. • The Company’s streamlined business focus may result in operational and strategic challenges. • Cibus success depends, in part, on its ability to effectively estimate future demand. • Cibus’ business activities are currently conducted at a limited number of locations, and damage or business disruptions at these locations would have an adverse effect on its business. • Cibus’ research and development efforts may be slower than expected and not be successful. • Cibus intends to license the intellectual property produced through its gene editing technologies to third parties for use in their products and will be dependent on them to successfully commercialize such products. • Customer relationships that Cibus establishes may not result in revenue generating commercial contracts. • Any partnerships that Cibus may enter into in the future may not be successful. - 2 - • If ongoing or future field trials are unsuccessful, Cibus may be unable to complete the development of productivity trait candidates on a timely basis or at all. • Cibus relies on third parties to conduct, monitor, support, and oversee field trials, and any performance issues by them may impact Cibus’ ability to successfully commercialize products or license traits. • Cibus may lack the necessary expertise, personnel, and resources to effectively license its priority productivity trait products. • Interruptions in the production or transportation of parent seeds could adversely affect Cibus’ operations and profitability. • Cibus’ products may not achieve commercial success quickly or at all. • Public understanding of Cibus’ RTDS technologies and public perception and acceptance of gene editing technologies, including Cibus’ RTDS technologies, could affect Cibus’ sales and results of operations. • Cibus’ financial statements include goodwill which could become impaired in the future under certain conditions, and any such impairment may significantly impact Cibus’ results of operations and financial condition. • Cibus’ estimates and forecasts with respect to total acres, accessible acres, trait fees, and assumptions regarding Cibus’ trait penetration rates and potential market share may prove to be inaccurate. • The overall agricultural industry is susceptible to commodity and raw material price changes. • Adverse weather and environmental conditions and natural disasters can cause significant costs and losses. • The agricultural industry is highly seasonal, which may cause Cibus’ sales and operating results to fluctuate significantly. • Cibus’ business could be materially affected by disruptions in the global economy caused by geopolitical and military conflicts. • Regulatory requirements in certain jurisdictions for gene edited products are evolving, and adverse regulatory changes could have a significant negative impact on Cibus’ ability to develop and commercialize its product candidates. • The regulatory environment varies greatly from region-to-region and in many countries is less developed than in the United States. • Products containing Cibus’ traits may be subject to enhanced regulation. • Cibus uses hazardous chemicals and biological materials in its business.
  • Compliance with environmental, health, and safety laws and regulations, and any claims relating to improper handling, storage, or disposal of these materials could be time consuming and costly. • Cibus is subject to governmental export and import controls that could impair its ability to compete in international markets due to licensing requirements and subject Cibus to liability if it is not in compliance with applicable laws. • Cibus’ ability to compete may decline if it does not adequately protect its intellectual property proprietary rights. • Patents and patent applications involve highly complex legal and factual questions, which, if determined adversely to Cibus, could negatively impact its competitive position. • Cibus will not seek to protect its intellectual property rights in all jurisdictions throughout the world and Cibus may not be able to adequately enforce its intellectual property rights even in the jurisdictions where Cibus seeks protection. • Third parties may assert rights to inventions Cibus develops or otherwise regards as its own. • Cibus may not identify relevant third party patents or may incorrectly interpret the relevance, scope, or expiration of a third party patent which might adversely affect Cibus’ ability to develop and market its products or productivity trait or sustainable ingredient candidates. • Any infringement, misappropriation, or other violation by Cibus of intellectual property rights of others may prevent or delay Cibus’ product development efforts and may prevent or increase the costs of Cibus successfully commercializing its products or productivity trait or sustainable ingredient candidates, if approved. • Cibus may be unsuccessful in licensing or acquiring intellectual property from third parties that may be required to develop and commercialize Cibus’ products or productivity trait or sustainable ingredient candidates. • If Cibus fails to comply with its obligations in the agreements under which Cibus licenses intellectual property rights from third parties or otherwise experience disruptions to its business relationships with its licensors, Cibus could lose license rights that are important to its business. • Some of the licenses Cibus may grant to its licensing partners to use Cibus’ proprietary genes in certain crops may be exclusive within certain jurisdictions, which could limit Cibus’ licensing opportunities. • Cibus’ results of operations will be affected by the level of royalty payments that Cibus is required to pay to third parties. • Cibus’ Royalty Liability may contribute to net losses for Cibus and cause the value for securities of Cibus to fluctuate. • Cibus depends on key management personnel and attracting and retaining other qualified personnel, and its business could be harmed if Cibus loses key management personnel or cannot attract and retain other qualified personnel. • Cibus’ internal computer systems, or those of its third party contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of Cibus’ operations. • The market price of the Class A Common Stock has been and could remain volatile, and the market price of the Class A Common Stock may drop. • Provisions in the Amended Certificate of Incorporation and Amended Bylaws and provisions under Delaware Law could make an acquisition of Cibus, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove its management. • Cibus may issue shares of preferred stock in the future, which could make it difficult for another company to acquire Cibus or could otherwise adversely affect holders of its Class A Common Stock, which could depress the price of the Class A Common Stock. • Cibus’ executive officers, directors, and principal stockholders have the ability to control or significantly influence all matters submitted to its stockholders for approval. • The United States net operating loss carryforwards and certain other tax attributes of Cibus may be subject to limitations. - 3 - • Cibus is a holding company and its only material asset is its interest in Cibus Global, and it is accordingly dependent upon distributions from Cibus Global to pay taxes and cover its corporate and other overhead expenses. • Cibus is required to make payments to the TRA Parties pursuant to the Tax Receivable Agreement for certain tax benefits Cibus may receive and the amounts payable may be substantial. • In certain cases, payments under the Tax Receivable Agreement may be accelerated and/or significantly exceed the actual benefits Cibus realizes in respect of the tax attributes subject to the Tax Receivable Agreement. • In the event that Cibus’ payment obligations under the Tax Receivable Agreement are accelerated upon certain mergers, other forms of business combinations or other changes of control, the consideration payable to holders of Class A Common Stock could be substantially reduced. • Cibus will not be reimbursed for any payments made under the Tax Receivable Agreement in the event that any tax benefits are subsequently disallowed.
  • Forecasts and other forward-looking estimates about the Company’s industry or performance within its industry are subject to the risks and uncertainties regarding forward-looking statements described under the caption “Cautionary Note Regarding Forward Looking Statements.” Accordingly, results could differ materially from those expressed in the estimates made by the independent parties and by the Company, and investors should not place undue reliance on this information.
  • Implications of Being a Smaller Reporting Company Cibus is a “smaller reporting company” as defined in the Exchange Act.
  • Cibus may continue to be a smaller reporting company even though it no longer qualifies as an “emerging growth company.” As a smaller reporting company, Cibus is exempt from the auditor attestation requirements of the Sarbanes-Oxley Act of 2002 and may also take advantage of certain scaled disclosure accommodations.
  • Cibus will remain a smaller reporting company until the fiscal year following the determination that its common stock held by non-affiliates is $250 million or more (measured on the last business day of Cibus’ second fiscal quarter) or Cibus’ annual revenues are $100 million or more during the most recently completed fiscal year and Cibus’ common stock held by non-affiliates is $700 million or more (measured on the last business day of Cibus’ second fiscal quarter).
  • COMPANY OVERVIEW Cibus is a leading agricultural biotechnology company that primarily uses proprietary gene editing technologies to develop plant traits, which are specific genetic characteristics in the DNA of a plant’s seed.
  • Plant traits, or characteristics, influence how a resulting plant functions and/or interacts with its environment.
  • Cibus produces these edited plant traits by a unique process that is endeavoring to change the scale and speed of plant breeding for many major agricultural crops.
  • Over the course of its history, Cibus has developed a proprietary time bound and predictable gene editing platform referred to as the Rapid Trait Development System™ ( RTDS ® ).
  • This system allows Cibus to edit gene targets that are the basis of novel traits that can be integrated into Cibus’ customers’ best or elite seed genetics in as - 4 - little as one year.
  • Cibus’ primary trait business opportunities continue to broaden as key jurisdictions around the world more closely align gene editing regulatory policies with those already in place for conventional breeding.
  • Cibus’ business operates within the global seed market, where management estimates that aggregate trait value across both genetically modified organism (GMO) and non-GMO seeds globally represents approximately $12.0 billion.
  • Cibus’ Primary Business Cibus’ primary business is focused on the development of plant traits for some of the world’s major agricultural crops that help address specific productivity, profitability, sustainability, or yield challenges in farming.
  • These plant traits can be licensed to seed companies for inclusion in their seed products for a royalty.
  • This is not a new business model as many companies have developed traits that have been added to seed products and have garnered significant royalties for their developers over many years.
  • Importantly, farmers are well acquainted with the value of these seeds with traits.
  • In the near term, Cibus’ priority pipeline program centers on Rice herbicide tolerance (HT) traits.
  • The Company believes its multiple, or in some cases stacked, Rice HT traits have estimated Potential Annual Addressable Royalties (as defined below) of over $200.0 million upon full commercialization across the Company’s initial target markets of Latin America and the United States.
  • In addition to its core trait licensing and royalty model, Cibus is exploring alternative customer partnership and other economic arrangements, particularly in opportunity-rich markets like India, Asia (outside of China), and Latin America.
  • Cibus’ Secondary Program – Sustainable Ingredients Alongside its Rice program, Cibus also continues to advance its sustainable ingredients program, including lauric oils and bio fragrance products, the development of which is currently partially partner-funded and/or supported by a consumer-packaged goods partner.
  • The bio fragrance work, using novel yeast genetics and fermentation, provides the fragrance industry with a bio-based natural alternative to expensive natural extractions, such as bio-rose fragrances, which are currently extracted directly from rose petals.
  • Sustainable ingredients are also increasingly sought after as customers look for natural alternatives to synthetic fragrance products.
  • The Company believes its technologies could provide a viable commercial path to these alternatives.
  • Cibus’ Gene Editing Opportunity Programs The Company retains the rights to the remainder of its productivity trait portfolio and will opportunistically pursue partner-funded projects in such traits until such time as the Company’s capital resources are sufficient to efficiently support a more robust development effort.
  • Cibus believes this opportunity program could be accelerated as global regulatory policies start to mature.
  • For example, the latest European Union (EU) legislative process created enhanced interest in how gene editing in plant agriculture could deliver important plant genetic traits to major crops.
  • The Company’s development activities to date, such as in-process greenhouse trials, will continue through completion as we share these opportunities with global seed companies.
  • Streamlining an Evolving Business In June 2025, building on efficiencies from previous restructuring initiatives, the Company announced further streamlining of its operational focus to preserve capital resources and concentrate its working capital expenditures on the commercial advancement of the Company’s weed management traits for Rice.
  • On July 21, 2025, the Board of Directors of Cibus (Board) approved a reduction in workforce of approximately 34 full-time employees as a pivotal step in implementing the Company’s streamlined business focus.
  • The Company completed this reduction in workforce as of December 31, 2025.
  • On March 12, 2026, in furtherance of the Company’s Board-approved streamlining efforts, the Company conducted an additional reduction in workforce of 15 full-time employees, effective as of March 13, 2026.
  • The Company estimates that it will incur approximately $0.4 million of one-time cash payments in the first quarter of 2026, of which approximately $0.3 million is related to accrued vacation and approximately $0.1 million is related to one-time severance expense.
  • In addition, the Company estimates, based on Cibus’ closing stock price on March 13, 2026, one-time non-cash stock compensation expense of approximately $0.5 million related to accelerated stock awards in the first quarter of 2026.
  • The Company expects its cost reduction measures, including streamlining staff and closing certain non-core facilities, to lower annual net cash usage to approximately $30.0 million or less during the course of 2026.
  • Cibus anticipates that such efforts will contribute toward improved cash flow and financial stability.
  • The Company is in the process of completing the consolidation of its core operations to San Diego, CA while prioritizing resources toward advancing its Rice programs and completing ongoing non-Rice activities, while deferring non-partner-funded activities outside of Rice, such as field testing. - 5 - Crop Access & Royalty Targets and Opportunities The table below summarizes Cibus’ current beliefs and estimates regarding crop access and royalty targets and opportunities for its priority and opportunity programs.
  • These statements represent forward-looking statements and their achievement is subject to numerous risks and uncertainties.

and 360 more.

Gone since FY2024

  • Risk Factors,” as they may be updated or supplemented from time-to-time in the Company’s subsequent reports on Forms 10-Q and 8-K filed with the SEC.
  • Any forward-looking statements made by the Company in this Annual Report on Form 10-K are based only on currently available information and speak only as of the date of this report.
  • Cibus’ ability to continue as a going concern will depend on its ability to obtain additional financing in the near term. • Cibus faces significant competition and many of its competitors have substantially greater financial, technical, and other resources than Cibus does. • The Company’s Restructuring Initiative may result in operational and strategic challenges. • Cibus success depends, in part, on its ability to effectively estimate future demand. • Cibus’ business activities are currently conducted at a limited number of locations, and damage or business disruptions at these locations would have an adverse effect on its business. • Cibus’ research and development efforts may be slower than expected and not be successful. • Cibus intends to license the intellectual property produced through its gene editing technologies to third parties for use in their products and will be dependent on them to successfully commercialize such products. • Customer relationships that Cibus establishes may not result in revenue generating commercial contracts. • Any partnerships that Cibus may enter into in the future may not be successful. • If ongoing or future field trials are unsuccessful, Cibus may be unable to complete the development of productivity trait candidates on a timely basis or at all. • Cibus relies on third parties to conduct, monitor, support, and oversee field trials, and any performance issues by them may impact Cibus’ ability to successfully commercialize products or license traits. • Cibus may lack the necessary expertise, personnel, and resources to effectively license its priority productivity trait products. • Interruptions in the production or transportation of parent seeds could adversely affect Cibus’ operations and profitability. • Cibus’ products may not achieve commercial success quickly or at all. • Public understanding of Cibus’ RTDS technologies and public perception and acceptance of gene editing technologies, including Cibus’ RTDS technologies, could affect Cibus’ sales and results of operations. • Cibus’ financial statements include goodwill as a result of the Merger Transactions.
  • Goodwill could become impaired in the future under certain conditions, and any such impairment may significantly impact Cibus’ results of operations and financial condition. • Cibus’ estimates and forecasts with respect to total acres, accessible acres, trait fees, and assumptions regarding Cibus’ trait penetration rates and potential market share may prove to be inaccurate. • The overall agricultural industry is susceptible to commodity and raw material price changes. • Adverse weather and environmental conditions and natural disasters can cause significant costs and losses. - 4 - • The agricultural industry is highly seasonal, which may cause Cibus’ sales and operating results to fluctuate significantly. • Regulatory requirements in certain jurisdictions for gene edited products are evolving, and adverse regulatory changes could have a significant negative impact on Cibus’ ability to develop and commercialize its product candidates. • Potential changes in regulatory frameworks that would be beneficial to Cibus may not come to fruition or may have features that are not advantageous to Cibus. • The regulatory environment varies greatly from region-to-region and in many countries is less developed than in the United States and the EU. • Products containing Cibus’ productivity traits may be subject to enhanced regulation. • Cibus uses hazardous chemicals and biological materials in its business.
  • Compliance with environmental, health, and safety laws and regulations, and any claims relating to improper handling, storage, or disposal of these materials could be time consuming and costly. • Cibus is subject to governmental export and import controls that could impair its ability to compete in international markets due to licensing requirements and subject Cibus to liability if it is not in compliance with applicable laws. • Cibus’ ability to compete may decline if it does not adequately protect its intellectual property proprietary rights. • Patents and patent applications involve highly complex legal and factual questions, which, if determined adversely to Cibus, could negatively impact its competitive position. • Cibus will not seek to protect its intellectual property rights in all jurisdictions throughout the world and Cibus may not be able to adequately enforce its intellectual property rights even in the jurisdictions where Cibus seeks protection. • Third parties may assert rights to inventions Cibus develops or otherwise regards as its own. • Cibus may not identify relevant third party patents or may incorrectly interpret the relevance, scope, or expiration of a third party patent which might adversely affect Cibus’ ability to develop and market its products or productivity trait or sustainable ingredient candidates. • Any infringement, misappropriation, or other violation by Cibus of intellectual property rights of others may prevent or delay Cibus’ product development efforts and may prevent or increase the costs of Cibus successfully commercializing its products or productivity trait or sustainable ingredient candidates, if approved. • Cibus may be unsuccessful in licensing or acquiring intellectual property from third parties that may be required to develop and commercialize Cibus’ products or productivity trait or sustainable ingredient candidates. • If Cibus fails to comply with its obligations in the agreements under which Cibus licenses intellectual property rights from third parties or otherwise experience disruptions to its business relationships with its licensors, Cibus could lose license rights that are important to its business. • Some of the licenses Cibus may grant to its licensing partners to use Cibus’ proprietary genes in certain crops may be exclusive within certain jurisdictions, which could limit Cibus’ licensing opportunities. • Cibus’ results of operations will be affected by the level of royalty payments that Cibus is required to pay to third parties. • Cibus’ headcount reductions and other cost reduction measures may result in operational and strategic challenges. • Cibus’ Royalty Liability may contribute to net losses for Cibus and cause the value for securities of Cibus to fluctuate. • Cibus depends on key management personnel and attracting and retaining other qualified personnel, and its business could be harmed if Cibus loses key management personnel or cannot attract and retain other qualified personnel. • Cibus’ internal computer systems, or those of its third party contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of Cibus’ operations. • The market price of the Class A Common Stock has been and could remain volatile, and the market price of the Class A Common Stock may drop. • Provisions in the Amended Certificate of Incorporation and Amended Bylaws and provisions under Delaware Law could make an acquisition of Cibus, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove its management. • Cibus may issue shares of preferred stock in the future, which could make it difficult for another company to acquire Cibus or could otherwise adversely affect holders of its Class A Common Stock, which could depress the price of the Class A Common Stock. • Cibus’ executive officers, directors, and principal stockholders have the ability to control or significantly influence all matters submitted to its stockholders for approval. • The United States net operating loss carryforwards and certain other tax attributes of Cibus may be subject to limitations. • Cibus is a holding company and its only material asset is its interest in Cibus Global, and it is accordingly dependent upon distributions from Cibus Global to pay taxes, make payments under the Tax Receivable Agreement, and cover its corporate and other overhead expenses. • In certain circumstances, Cibus Global is required to make distributions to Cibus and the other holders of Cibus Common Units, and the distributions that Cibus Global will be required to make may be substantial. • In certain cases, payments under the Tax Receivable Agreement may be accelerated and/or significantly exceed the actual benefits Cibus realizes in respect of the tax attributes subject to the Tax Receivable Agreement. • If Cibus Global were to become a publicly traded partnership taxable as a corporation for United States federal income tax purposes, Cibus and Cibus Global might be subject to potentially significant tax inefficiencies, and Cibus would not be able to recover payments previously made by it under the Tax Receivable Agreement even if the corresponding tax benefits were subsequently determined to have been unavailable due to such status. • If Cibus were deemed to be an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), as a result of its ownership of Cibus Global, applicable restrictions could make it impractical for Cibus to continue its business as contemplated and could have a material adverse effect on Cibus’ business. - 5 - • In certain cases, the holders of Class B Common Stock have the sole power to approve a reorganization of Cibus, resulting in Cibus no longer being structured as an umbrella partnership C corporation. • In the event that Cibus’ payment obligations under the Tax Receivable Agreement are accelerated upon certain mergers, other forms of business combinations or other changes of control, the consideration payable to holders of Class A Common Stock could be substantially reduced. • Cibus will not be reimbursed for any payments made under the Tax Receivable Agreement in the event that any tax benefits are subsequently disallowed.
  • Risk Factors.” Forecasts and other forward-looking estimates about the Company’s industry or performance within its industry are subject to the risks and uncertainties regarding forward-looking statements described under the caption “Cautionary Note Regarding Forward Looking Statements.” Accordingly, results could differ materially from those expressed in the estimates made by the independent parties and by the Company, and investors should not place undue reliance on this information.
  • COMPANY OVERVIEW Cibus is a leading agricultural biotechnology company that uses proprietary gene editing technologies to develop plant traits which are specific genetic characteristics in the DNA of a plant’s seed.
  • These characteristics influence how a resulting plant functions and/or interacts with its environment.
  • Its primary business is the development of plant traits for some of the world’s major agricultural food crops that help address specific productivity, profitability, sustainability, or yield challenges in farming.
  • Cibus’ core technology is its propriety gene editing platform called the Rapid Trait Development System™ or RTDS ® .
  • It is the underlying technology for Cibus’ Trait Machine™ process, providing a standardized, end-to-end, semi-automated, high-throughput gene editing system that directly edits seed companies’ elite germplasm.
  • The Company considers the Trait Machine process an important technological milestone that represents a breakthrough in the achievement of a standardized, high-throughput gene editing system that provides the speed, precision, and scale to develop a new class of high value productivity traits that is the promise of gene editing.
  • Gene-edited traits are importantly distinguishable from traits developed with genetically modified organism (GMO) technologies.
  • For example, in the European Union (EU), GMO traits were essentially banned, and - 6 - imports were heavily regulated.
  • In contrast, a key aspect of Cibus’ Trait Machine process is that plant traits developed using this technology are indistinguishable from plant traits developed using conventional plant breeding (or, from nature).
  • Because of this, most major jurisdictions have either passed regulations that, or started processes to introduce regulations and policies that would, generally treat traits developed using gene editing on the same basis as traits developed using conventional plant breeding.
  • All productivity traits developed using RTDS comprise the types of changes that arise naturally in conventional plant breeding programs.
  • Policies and new legislation in place in key countries and presently under consideration in Europe are aimed at harmonizing how gene edited traits are regulated in order to align with regulations for traits from conventional plant breeding.
  • These policy changes highlight the major global evolution away from the heavily regulated GMO technologies and broader acceptance of gene editing technologies.
  • Cibus believes that its RTDS technologies and Trait Machine process represent a paradigm shift in plant breeding, which it refers to as industrializing breeding.
  • The Trait Machine process has the potential to materially improve the productivity of the breeding process as compared to conventional breeding, which currently averages more than a decade.
  • Further, the Trait Machine process is a scientifically based process whose trait products are indistinguishable from traits developed through conventional plant breeding and that are increasingly regulated as such.
  • Cibus believes that its gene editing technologies and productivity traits have the potential to accelerate agriculture’s jump to a climate smart, more sustainable, crop production system and industry’s move to sustainable, natural, and low carbon materials or ingredients.
  • Cibus believes that this is the Future of Breeding™.
  • Cibus is a leader in this new industry characterized by high-throughput gene editing processes which can also serve as an extension of plant breeding operations for seed company customers.
  • It provides the ability to prototype new productivity traits and, once developed, the ability to materially accelerate the time to commercialize new productivity traits.
  • The Trait Machine process revolutionizes the business of trait development by dramatically improving the speed and scale of developing and prototyping new productivity traits relative to conventional breeding.
  • The Company’s primary customers are seed companies that have transferred their elite germplasm to Cibus for editing.
  • Cibus does not compete with seed companies’ breeding operations, but rather, can augment them.
  • Customer relationships start with material transfer agreements for delivery of the customer’s elite germplasm to the Company for editing and eventual return to the customer.
  • For commercialization, Cibus’ model contemplates entering into a future commercialization agreement or license agreement under which it would receive royalty or license fees related to the seed company’s sale of seed containing a Cibus developed trait.
  • Cibus currently has a pipeline of five productivity traits.
  • Three of Cibus’ five pipeline productivity traits are classified as “developed,” meaning that they have been edited in a customer’s elite germplasm and have been validated in field trials.
  • In Canola (known as Winter Oilseed Rape (WOSR) in Europe), the Company’s Pod Shatter Reduction (PSR) productivity trait has been edited into the elite lines of customer seed company partners and transferred back to these customers in their elite germplasm.
  • In Rice, gene-edited herbicide tolerance (HT) productivity traits HT1 and HT3 are being introgressed and/or in process to be edited into multiple customers’ genetics for the United States and Latin America, and Cibus is also initiating efforts to directly edit the HT1 and HT3 traits in certain customers’ germplasm.
  • Two pipeline productivity traits are classified as “advanced,” meaning that the editing and trait development process is underway with known edit targets.
  • Currently, these advanced productivity traits include a trait for Sclerotinia (white mold disease) resistance and herbicide tolerance (HT2), are in Canola.
  • These two advanced pipeline productivity traits are expected to be applicable to multiple crops.
  • In addition to Cibus’ pipeline of five productivity traits, Cibus is developing, through a partner-funded project, sustainable ingredients or materials for the consumer packaged goods industry aimed at mitigating adverse environment impacts during production, use, or disposal.
  • Cibus will also continue to consider other trait categories, like nutrient use efficiency, through similar partnerships with third parties.

and 295 more.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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