Cibus Reports Third Quarter Financial Results and Provides Year-to-Date Business Update for 2025

With the addition of Centro Internacional de Agricultura Tropical (CIAT) in the quarter, Cibus now has 5 LATAM Rice customers as momentum continues toward achieving 2027 targeted initial LATAM Rice revenue

On track to deliver HT traits to Latin American customer in Q4 2025 with field trials expected to commence by year end

Engaged strategic growth advisory firm AgVayā to introduce Indian Rice growers to new solutions to scale crop productivity through advanced gene editing

Successfully completed pre-commercial pilot runs for certain biofragrance products; commercial expansion targeted for 2026

Positive field trial results for HT2 in Canola in North America; HT2 and Sclerotinia resistance traits available for seed licensing partners for funded continued development opportunity

Initiated additional actions to support streamlined business focus prioritizing nearest-term and partner-funded commercial opportunities while the Company targets a reduced annual net cash usage of $30 million by 2026, and completed consolidation of Oberlin facility activities

Appointed Kimberly A. Box and Craig Wichner to Cibus’ Board of Directors, which strategically strengthens Cibus’ commercial expansion support

SAN DIEGO, Nov. 13, 2025 (GLOBE NEWSWIRE) — Cibus, Inc. (Nasdaq: CBUS) (the “Company”), a leading agricultural technology company that develops and licenses plant traits to seed companies, today announced its financial results for the quarter ended September 30, 2025, and provided a year-to-date business update for 2025. Management will host a conference call and webcast today at 4:30 p.m. ET.

Management Commentary

“To date, we have signed seven Rice customer agreements. Together, we estimate that these seven customers represent approximately 5-7 million addressable acres (i.e., acres that would be potentially accessible to Cibus’ HT1 and HT3 traits in Rice) and, if fully developed, over $200 million in potential annual royalty opportunity, demonstrating the tangible impact on our commercial efforts from our streamlined strategic focus,” said Peter Beetham, Interim Chief Executive Officer of Cibus. “Our enhanced Rice editing efficiency is an advantage for our customers, while our expanded partnerships in Latin America are positioning us well for initial commercial launch targeted for 2027, followed by targeted expansion to the U.S. in 2028. Our efforts are also extending beyond the Americas, most recently by our engagement of AgVayā to support our entry into the Indian market which represents another immense opportunity for our trait products. Further, we successfully completed a pre-commercial pilot for our Sustainable Ingredients program and remain on track for initial payments in the fourth quarter as we advance our Rice program toward commercialization.”

Commercial Progress for Priority Programs and Global Regulatory Developments

Priority Pipeline Traits and Programs

Global Regulatory Development

Progress within Opportunity Programs and Other Business Updates

In addition to the Cibus’ self-funded Rice herbicide tolerance trait program and its actively advancing a partner-funded and/or -supported sustainable ingredients programs, the Company’s deep trait pipeline provides several additional opportunities for partner-funded programs.

Opportunity Pipeline Traits and Programs

Corporate and Industry Progress Year-to-Date

• Board Appointments

  • In September 2025, Cibus appointed Kimberly A. Box to its Board of Directors, strengthening the Company’s governance and commercialization strategy leadership capabilities. Ms. Box brings extensive leadership experience in technology operations, strategic transformation, and scaling innovation into global markets, including three decades at Hewlett Packard in multiple executive roles. Her appointment reinforces Cibus’ readiness for upcoming product launches and supports the Board’s focus on long-term value creation and commercial execution.

  • In November 2025, Cibus appointed Craig Wichner to its Board of Directors, strengthening the Company’s agricultural sector expertise and strategic advisory capabilities. His extensive experience in sustainable agriculture, farmland investment management, and data-driven business models brings valuable perspective as Cibus advances its productivity and sustainability trait programs toward commercialization. Mr. Wichner is the Founder and Managing Partner of Farmland LP, a leading U.S. farmland investment management firm with more than $350 million in assets and over 19,000 acres under management. Mr. Wichner also serves on the Board’s Strategy Committee and the special committee evaluating strategic alternatives to maximize shareholder value.

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. Cibus presents below the most significant development and commercial milestone targets for its priority programs for 2025:

Third Quarter 2025 Financial Results

• Cash position: Cash and cash equivalents as of September 30, 2025, was $23.9 million. Taking into account the impact of implemented cost saving initiatives, and without giving effect to potential financing transactions that Cibus is pursuing, Cibus expects that existing cash and cash equivalents is sufficient to fund planned operating expenses and capital expenditure requirements into early in the second quarter of 2026. Cibus’ Board of Directors, together with its financial advisor, continues to evaluate a full range of strategic alternatives to maximize shareholder value.

• Research and development (R&D) Expense: R&D expense was $10.8 million for the quarter ended September 30, 2025, compared to $13.0 million in the year-ago period. The decrease of $2.2 million is primarily due to cost reduction initiatives.

• Selling, general, and administrative (SG&A) expense: SG&A expense was $5.3 million for the quarter ended September 30, 2025, compared to $7.7 million in the year-ago period. The decrease of $2.4 million is primarily due to cost reduction initiatives.

• Goodwill impairment: There was no goodwill impairment for the quarter ended September 30, 2025, compared to a $181.4 million impairment in the year-ago period. The decrease of $181.4 million non-cash expense is due to the impairment of goodwill resulting from a fair value assessment, based on the decline of the Company’s stock price, performed in the third quarter of 2024 versus no impairment in the third quarter of 2025.

• Royalty liability interest expense – related parties: Royalty liability interest expense – related parties was $9.0 million for the quarter ended September 30, 2025, compared to $8.9 million in the year-ago period. The increase of $0.1 million is due to the recognition of interest expense on the Royalty Liability.

• Non-operating income, net: Non-operating income, net was nominal for the quarter ended September 30, 2025, compared to income of $7.7 million in the year-ago period. The decrease in income of $7.7 million is driven by the fair value adjustment of the Company’s liability classified common warrants.

• Net loss: Net loss was $24.3 million for the quarter ended September 30, 2025, compared to $201.5 million in the year-ago period.

• Net loss per share of Class A common stock: Net loss per share of Class A common stock was $0.44 for the quarter ended September 30, 2025, compared to net loss per share of Class A common stock of $7.63 in the year-ago period. The decrease of $7.19 in net loss per share of Class A common stock is primarily driven by the non-cash goodwill impairment in the year-ago period which accounted for approximately $7.53 in net loss per share of Class A common stock and by the decreases in net loss described above and a year-over-year increase in weighted average shares outstanding.
  

Conference Call and Webcast Information

Cibus will host a live webcast, Thursday, November 13, 2025, at 4:30 p.m. Eastern Time to discuss its third quarter 2025 financial results and provide a year-to-date business update for 2025. The conference call can be accessed live over the phone by dialing (800) 274-8461 or for international callers by dialing (203) 518-9814. The conference ID is CIBUS (24287). A replay of the call will be available through November 27, 2025, by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671; the passcode is 11160229.

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.

About Cibus

Cibus is a leader in developing traits (characteristics) that address critical productivity, yield and sustainability challenges. Cibus’ proprietary high-throughput gene-editing technologies drive its long-term focus on productivity traits for farmers for the major global row crops. Cibus is not a seed company. It is a technology company that uses its gene editing technologies to develop plant traits at a fraction of the time and cost of conventional breeding and to license them to customers in exchange for royalties.

About the Cibus Trait Machine™ process and Rapid Trait Development System™

A key element of Cibus’ technology breakthrough is its high-throughput breeding process (referred to as the Trait Machine™ process). The Trait Machine process is a crop specific application of Cibus’ patented Rapid Trait Development System™ (RTDS^®). The proprietary technologies in RTDS integrate crop specific cell biology platforms with a series of gene editing technologies to enable a system of end-to-end crop specific precision breeding. It is the core technology platform for Cibus’ Trait Machine process: the first standardized end-to-end semi-automated crop specific gene editing system that directly edits a seed company’s elite germplasm. Each Trait Machine process requires a crop specific cell biology platform that enables Cibus to edit a single cell from a customer’s elite germplasm and grow that edited cell into a plant with the Cibus edits.

Cibus believes that RTDS and the Trait Machine process represent the technological breakthrough in plant breeding that is the ultimate promise of plant gene editing: high-throughput gene editing systems operating as an extension of seed company breeding programs. In 2024, the Trait Machine process was cited by Fast Company Magazine as one of the most innovative products in 2024.

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’ liquidity and capital resources, the implementation and execution of cost savings initiatives, Cibus’ strategy, future operations, prospects, and plans, including the anticipated receipt of commercial revenues and additional funding, 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’ 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; delays and uncertainties regarding regulatory developments in the European Union; Cibus’ ability to achieve commercial success; 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 20, 2025, 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