Cibus Reports Third Quarter Financial Results and Provides Business Update
Rice herbicide-tolerance traits performed well in Latin American field trials and are now being tested by customer Interoc in its own varieties
Initiated the manufacturing process for initial two biofragrance products; biofragrance program represents an estimated $100 million peak annual revenue opportunity with eight products currently identified for potential commercialization
Year-to-date cash used in operating activities down approximately 19% year-over-year; continues to anticipate exiting 2026 at approximately $35 million annualized net cash usage run rate
SAN DIEGO, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the "Company"), a technology company that uses biology to produce sustainable ingredients and helps farmers grow more food with fewer inputs, today announced its financial results for the quarter ended September 30, 2026, and provided a business update. Management will host a conference call and webcast today at 4:30 p.m. ET.
Management Commentary
Craig Wichner, Chief Executive Officer of Cibus, commented, "Three months ago I described three ways our platform creates value: platform programs that generate revenue today, royalties as our traits reach acres, and partnerships that deepen over time. Each of these moved closer this quarter. We received requests from our customer for larger quantities of two biofragrance products to advance their product development. Our Rice traits performed well in Latin American field trials and are now being tested where it counts, in our customer Interoc's own varieties in its own fields. Further, a second partner-funded crop program, Mustard in India, began work in the quarter."
Third Quarter and Recent Business Update
The following summarizes Cibus' commercial, regulatory, and corporate progress during the third quarter and through the date of this release.
Priority Pipeline Traits and Programs
Global Regulatory Landscape
Corporate and Industry Progress
Opportunity Pipeline Traits and Programs (Available for Partnership)
Cibus has demonstrated regeneration of whole plants from single cells in nine crops on its platform: Rice, Canola/Winter Oilseed Rape, Wheat, Flax, Peanut, Potato, Sugar Beet, Cassava, and Alfalfa; additional crops such as Soybean and Indian Mustard are in development. Cibus is actively developing traits in five crops: Rice, Canola/Winter Oilseed Rape, Soybean, Alfalfa, and Indian Mustard. Because Cibus' operational platforms are already built, a program in any of these crops can begin with trait work in those platforms rather than with years of platform development. Cibus' work helps position partners to establish market leadership for their crops.
Expected Milestones for Priority Pipeline Traits and Programs
Cibus intends to report ordinary course development progress and achievements in connection with its quarterly reporting process. Status of the 2026 milestone targets presented in August 2026, and the most significant development and commercial milestone targets for the next period:
Third Quarter 2026 Financial Results
Conference Call and Webcast Information
Cibus will host a live webcast, Thursday, November 12, 2026, at 4:30 p.m. Eastern Time to discuss its third quarter 2026 financial results and provide a year-to-date business update for 2026. The conference call can be accessed live over the phone by dialing 1-833-419-0865 or for international callers by dialing 1-785-838-9333. The conference ID is "CIBUS". A replay of the call will be available through Thursday, November 26, 2026, by dialing 1-844-512-2921 or for international callers by dialing 1-412-317-6671; the passcode is 11162667.
A live audio webcast of the call will be available under "Events & Presentations" in the Investor section of the Company's website, investor.cibus.com. An archived webcast will be available on the Company's website for 90 days after the event.
How Cibus does it
Cibus starts with a seed company's best existing varieties and makes precise improvements, often several at once, to a single cell from those varieties. It then grows that cell into a full plant carrying the new traits. The seed company keeps the variety it spent years perfecting; Cibus adds the improvements and licenses them back. Cibus' changes are precise edits to the plant's own genes, with no foreign DNA added, which is what separates them from transgenic GMOs. Cibus traits like disease resistance, and pod shatter reduction in Canola and Oilseed Rape, are generally expected to qualify for conventional-breeding treatment in key jurisdictions.
About Cibus
Cibus (Nasdaq: CBUS) is a technology company that helps farmers grow more food with fewer inputs. Using its proprietary platform, Cibus improves a seed company's best crop varieties by making precise changes to the plant's own genes, with no foreign DNA added, then licenses those improvements back to the customer in exchange for royalties. Cibus is not a seed company. Cibus calls its platform Direct Breeding SM. It develops crop traits at a fraction of the time and cost of conventional breeding, with a focus on higher yields, better quality, and reduced chemical use. For more information, visit www.Cibus.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities laws, including The Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included herein, including statements regarding Cibus' operational and financial performance, Cibus' market opportunities, Cibus' liquidity and capital resources, the implementation and execution of cost savings initiatives, Cibus' strategy, future operations, prospects, and plans, including the anticipated integration into partner pipelines, implementation of commercial agreements, receipt of commercial revenues and additional funding and the achievement of commercial milestone targets, are forward-looking statements. Cibus' assessment of the period of time through which its financial resources will be adequate to support its operations is a forward-looking statement. Because this involves such risks and uncertainties, the Company could use its available capital resources sooner than it currently expects. Forward-looking statements may be identified by words such as "anticipate," "believe," "intend," "expect," "plan," "scheduled," "could," "would" and "will," or the negative of these and similar expressions.
These forward-looking statements are based on the current expectations and assumptions of Cibus' management about future events, which are based on currently available information. These forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and beyond the control of Cibus. Cibus' actual results, level of activity, performance, or achievements could be materially different than those expressed, implied, or anticipated by forward-looking statements due to a variety of factors, including, but not limited to: Cibus' acute need for additional near-term funding to finance its activities and 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; Cibus' reliance on third parties in connection with its development activities, including reliance on partner-funding and/or support for the advancement of its Sustainable Ingredients program; challenges associated with Cibus' ability to effectively license its productivity traits and sustainable ingredient products; the risk that farmers do not recognize the value in germplasm containing Cibus' traits or that farmers and processors fail to work effectively with crops containing Cibus' traits; delays or disruptions in the Company's platform or trait product development efforts, particularly insofar as they affect the Company's strategic priority programs; challenges that arise in respect of Cibus' production of high-quality plants and seeds cost effectively on a large scale; Cibus' dependence on distributions from Cibus Global, LLC to pay taxes and cover its corporate and overhead expenses; regulatory developments that disfavor or impose significant burdens on gene editing processes or products; Cibus' ability to achieve commercial success or to effectively negotiate commercial agreements; commodity prices and other market risks facing the agricultural sector; technological developments that could render Cibus' technologies obsolete; changes in macroeconomic and market conditions, including inflation, supply chain constraints, and rising interest rates; dislocations in the capital markets and challenges in accessing liquidity and the impact of such liquidity challenges on Cibus' ability to execute on its business plan; the Company's assessment of the period of time through which its financial resources will be adequate to support operations; and other important factors discussed in the "Risk Factors" section of Cibus' Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on March 17, 2026, as may be updated from time-to-time in Cibus' subsequently filed Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements.
In addition, the forward-looking statements included in this press release represent Cibus' views as of the date hereof. Cibus specifically disclaims any obligation to update such forward-looking statements in the future, except as required under applicable law. These forward-looking statements should not be relied upon as representing Cibus' views as of any date subsequent to the date hereof.
CIBUS CONTACTS:
INVESTOR RELATIONS
Jeff Sonnek
jeff.sonnek@icrinc.com
MEDIA RELATIONS
Colin Sanford
colin@bioscribe.com
203-918-4347