Cibus Raises $37M but Logs $21.2M Loss, Rice Launch Delayed to 2029
CBUS•Cibus raised $37 million in Q1 through two public offerings and reported a net loss of $21.2 million on $1.7 million revenue. The company established seven Rice Seed Company partnerships across LATAM and the U.S. and delayed its U.S. herbicide-tolerant rice launch from 2028 to 2029.
1. Q1 Financial Results
Cibus reported a net loss of $21.2 million and revenue of $1.7 million for the first quarter, translating to a loss of $0.33 per share as it continues early-stage commercialization.
2. Fundraising Strengthens Balance Sheet
The company bolstered its cash position by generating $37 million in gross proceeds from two public offerings, aiming to extend its runway through key development milestones.
3. Commercialization Progress
Cibus advanced its RTDS platform across multiple crops and secured seven active Rice Seed Company partnerships in LATAM and the U.S., with plans to enter additional markets.
4. Regulatory and Launch Outlook
Regulatory processes remain a gating factor, pushing the U.S. launch of its herbicide-tolerant rice from 2028 to 2029, while management targets reducing net annualized cash burn to $30 million.
