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Previously Announced Strategy Focus Prioritizes Opportunities in Rice and Biofragrance Products and Sustainable Ingredients with Initiatives Expected to Reduce Annual Net Cash Usage to Approximately $30M by 2026
Cibus Well Situated to Pursue Partner Funding to Support its Advanced Productivity Trait Portfolio
SAN DIEGO, July 23, 2025 (GLOBE NEWSWIRE) -- Cibus, Inc. (NASDAQ:CBUS) (the "Company"), a leading agricultural technology company that develops plant traits to license to seed companies for royalties, announced a reduction in force ("RIF") as a pivotal step in implementing its previously announced streamlined business focus, prioritizing its nearest-term and currently funded commercial opportunities. The RIF is expected to result in related one-time charges of approximately $0.5 million in the third quarter of 2025.
Cibus expects the RIF, along with other initiatives, to reduce its annual net cash usage to approximately $30 million by 2026. The Company's streamlined priorities and resulting restructuring initiatives are intended to optimize Cibus' Trait MachineTM gene editing processes with a focus on the commercial advancement of its HT1, HT3 and other trait combinations for weed management traits in Rice, while continuing advancement of its customer-funded and supported crop-based sustainable ingredients programs and bio-based fermentation fragrance products.
Posted In: CBUS
