Cibus, Inc. (Nasdaq: CBUS), a leading agricultural technology company, recently announced a reduction in force (RIF) as part of its strategic initiative to prioritize opportunities in rice, biofragrance products, and sustainable ingredients. This move is aimed at optimizing the company’s Trait Machine gene editing processes and advancing its weed management traits in rice, while continuing to focus on sustainable ingredients and bio-based fermentation fragrance products. By implementing these streamlined priorities, Cibus expects to reduce its annual net cash usage to approximately $30 million by 2026. Dr.
Peter Beetham, Co-Founder and Interim CEO of Cibus, expressed confidence in the company’s ability to capitalize on its portfolio of developed and advanced traits through industry partnerships. Cibus is renowned for its gene-edited productivity traits that address critical challenges faced by farmers globally, such as diseases and pests. Leveraging proprietary high-throughput gene editing technology, Cibus develops traits at a fraction of the time and cost of conventional breeding, licensing them to seed companies in exchange for royalties. The company’s long-term focus remains on enhancing productivity for major global row crops, with a commitment to driving innovation and sustainability in agriculture.
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