Cibus (CBUS) Sidoti Micro-Cap Virtual Conference summary

Industrialization of plant breeding

• Achieved ability to edit and return customer plants within 12 months, enabling rapid trait development and commercialization.

• Focused on major crops: canola, rice, and soybean, covering over 500 million global acres.

• Business model centers on collecting royalties per acre for each trait deployed in customer crops.

• Developed an ISO-controlled facility for gene editing, ensuring quality and scalability.

• Emphasizes productivity traits to reduce farming costs and increase yields.

Regulatory and market environment

• Gene editing is increasingly regulated as conventional breeding, not GMO, in key markets.

• Europe is progressing toward full acceptance of gene-edited traits as non-GMO, with legislation expected to be finalized by end of 2025.

• The U.S., Canada, and Latin America have adopted favorable regulatory stances, with multiple approvals already secured.

• Global acceptance is expected to unlock significant commercial opportunities.

Financial developments and business outlook

• Raised $23 million in a direct offering, with potential for a similar follow-on investment upon soybean platform approval.

• Annual burn rate is approximately $50 million, with commercialization of traits expected to cover expenses.

• Transitioning from R&D funding to commercial revenue, with first royalty-generating canola and rice traits expected to launch in 2027.

• Near-term catalysts include field trial results for advanced disease and herbicide traits within the next 30–90 days.

• Market cap is around $100 million, with each major trait potentially generating $100 million in annual royalties.