SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS) saw activity from its Interim CFO, Broos Carlo, who recently sold shares of the company. According to a Form 4 filing with the Securities and Exchange Commission, Carlo sold 4,647 shares of common stock on November 12 at a weighted average price of $5.30 per share, amounting to a total transaction value of $24,629.
Earlier, on November 11, Carlo acquired 20,500 shares of common stock at a price of $5.75 per share, a transaction valued at $117,875. Additionally, he received 41,000 stock options at no cost, which will vest annually over the next three years. These transactions reflect Carlo's direct ownership in the company, with post-transaction holdings of 74,197 shares following the sale.
In other recent news, agricultural gene editing pioneer Cibus has made significant progress, as revealed in its Third Quarter 2024 Earnings Conference Call. Despite a reported net loss of $201.5 million, the company is transitioning from research and development to commercial gene editing, with successful developments like the Trait Machine process and partnerships with major seed companies. The company anticipates $200 million in annual royalties from rice traits in the U.S. and an additional $150 million from Asian market expansion. Cibus is also set to commercialize herbicide-resistant traits and Pod Shatter Reduction traits, with launches for rice traits in the U.S. expected by 2027-2028, and canola and soybean launches to follow. The company's regulatory progress in Europe and Asia, along with its partnership with Albaugh for herbicide labeling in Latin America, are favorable for future product launches. These recent developments reflect Cibus's commitment to enhancing agricultural productivity through gene editing.
InvestingPro Insights
While Cibus, Inc. (NASDAQ:CBUS) has experienced recent insider activity, it's crucial to consider the broader financial context of the company. According to InvestingPro data, Cibus has a market capitalization of $157.01 million, reflecting its current valuation in the market. The company's revenue for the last twelve months as of Q3 2023 stands at $4.15 million, with an impressive revenue growth of 449.34% over the same period.
Despite this growth, InvestingPro Tips highlight that Cibus is currently not profitable over the last twelve months and is quickly burning through cash. This context adds significance to the recent insider transactions, as it may reflect the management's perspective on the company's near-term prospects.
Interestingly, Cibus has shown a significant return over the last week, with a 15.18% price increase, and a strong 43.51% return over the last month. However, these short-term gains contrast with the longer-term performance, as the stock has taken a big hit over the last six months, declining by 71.68%.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 10 more tips available for Cibus. These tips could provide valuable context to the recent insider activity and the company's financial position.
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