NASDAQ$CBUS
Cibus Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Cibus reported first quarter financial results and provided a business update.
Cibus reported a net loss of $27.0 million for the quarter ended March 31, 2024. The company signed three agreements for Rice across North and Latin America and achieved a breakthrough in Wheat platform development. Cibus expects that existing cash and cash equivalents will fund planned operating expenses and capital expenditure requirements into the third quarter of 2024.
- Signed three agreements in Rice across North and Latin America, including with Loveland Products Inc., a subsidiary of Nutrien Ltd., and Interoc S.A., for Cibus' two proprietary Herbicide Tolerance traits (HT1 and HT3).
- Completed single cell regeneration platform for Wheat, marking a major breakthrough for Cibus and for the seed industry.
- The EU Parliament voted to support proposed regulation of gene edited products similarly to conventional breeding, building upon global momentum in many major countries.
- Continued progress with customers toward commercializing Pod Shatter Reduction (PSR) trait in Canola.
Headline financials
Revenue & EPS history
Cibus · Revenue · Quarterly
$545K
Forward guidance
Cibus has several important development and commercial milestone targets for 2024.
Tailwinds
- Expect 8 of 10 PSR customers in Canola to have their elite germplasm edited with Cibus' trait either transferred to the customer or ready to be transferred to the customer
- Expect to collect HT3 field testing data for Rice in Latin America
- Expand customer base with existing developed productivity traits
- Expect greenhouse results for a third mode of action for Sclerotinia resistance
- Expect greenhouse results for HT2
Headwinds
- Need for additional near-term funding to finance its activities
- Challenges in obtaining additional capital on acceptable terms, or at all
- Changes in expected or existing competition
- Challenges to Cibus' intellectual property protection and unexpected costs associated with defending intellectual property rights
- Increased or unanticipated time and resources required for Cibus' platform or trait product development efforts
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-1.1%
Avg return
Earnings day
-2.2%
Avg return
5 days after
-12.4%
Avg return
30 days after
37%
13 / 35 earnings
Positive
+23.6%
Q4 2019
Best reaction
-25.1%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.8% | -10.3% | — | |
| Q4 2025 | -16.7% | -24.7% | -56.8% | |
| Q3 2025 | -0.8% | +1.6% | +28.8% | |
| Q2 2025 | -3.5% | -11.6% | -7.5% | |
| Q1 2025 | -7.8% | -8.1% | -29.4% | |
| Q4 2024 | -6.4% | -9.6% | -23.7% | |
| Q3 2024 | +14.5% | +15.2% | -8.9% | |
| Q2 2024 | -9.2% | +2.7% | -42.4% | |
| Q1 2024 | +2.2% | +9.5% | -37.5% | |
| Q4 2023 | -0.7% | +2.2% | +7.4% | |
| Q3 2023 | +17.0% | +5.0% | -8.8% | |
| Q2 2023 | -9.7% | -13.8% | -19.8% | |
| Q1 2023 | -3.6% | -8.3% | -15.8% | |
| Q4 2022 | +1.6% | -0.7% | -21.5% | |
| Q3 2022 | -1.4% | -7.7% | +22.5% | |
| Q2 2022 | +12.4% | +4.3% | -11.6% | |
| Q1 2022 | -17.3% | -27.4% | -60.0% | |
| Q4 2021 | -2.8% | -21.3% | -20.6% | |
| Q3 2021 | -7.4% | -9.0% | -41.9% | |
| Q2 2021 | +12.0% | +15.1% | +19.9% | |
| Q1 2021 | +4.6% | +3.3% | -17.4% | |
| Q4 2020 | -25.1% | -24.7% | -35.6% | |
| Q3 2020 | -1.4% | -4.0% | -44.3% | |
| Q2 2020 | -6.6% | +0.2% | -8.3% | |
| Q1 2020 | -15.0% | -9.4% | +27.9% | |
| Q4 2019 | +23.6% | +22.7% | -10.1% | |
| Q3 2019 | -9.7% | -10.2% | -16.3% | |
| Q2 2019 | +2.7% | -13.1% | -23.9% | |
| Q1 2019 | -3.5% | -6.7% | -9.3% | |
| Q4 2018 | +8.3% | +20.0% | +34.0% | |
| Q3 2018 | -2.9% | -4.9% | -22.1% | |
| Q2 2018 | -0.7% | -3.1% | -10.8% | |
| Q1 2018 | +1.9% | +22.1% | +28.1% | |
| Q4 2017 | +6.4% | +18.8% | +16.9% | |
| Q3 2017 | +7.8% | +8.2% | -2.2% | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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