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The **CRISPR Therapeutics** for **agriculture**.

A **Bayer** for **non-GMO, gene-edited plants**.

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• Gene-Edited Canola Traits: Cibus develops and commercializes sulfonylurea herbicide tolerance traits for canola, enabling improved weed control for farmers.
• Gene-Edited Rice Traits: The company provides herbicide tolerance traits for rice, offering more effective weed management solutions.
• Gene-Edited Winter Oilseed Rape (WOSR) Traits: Cibus offers herbicide tolerance traits for winter oilseed rape to enhance weed control and crop resilience.
• Gene-Edited Potato Traits: The company is developing traits for potatoes focused on improving cold storage longevity and disease resistance.

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Cibus (CBUS) Major Customers

• Seed Companies: These companies develop, produce, and market seeds to farmers. Cibus partners with seed companies to integrate its gene-edited traits into various crop varieties, which are then sold to agricultural growers. An example of such a company, with whom Cibus has announced a strategic partnership for canola traits, is Nuseed (a subsidiary of Nufarm Limited, which is a public company listed on the Australian Securities Exchange under the symbol ASX: NUF).
• Agricultural Input and Distribution Companies: This category includes companies that supply a range of products and services to the agricultural sector, potentially distributing Cibus's proprietary products or products incorporating Cibus's traits to growers.
• Large-Scale Growers and Food Processors: In some instances, Cibus may directly engage with large farming operations or companies involved in food processing and manufacturing that require specific crop traits for their supply chain and product development.

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Peter Beetham, Interim Chief Executive Officer, President, and Chief Operating Officer

Peter Beetham is a co-founder of Cibus Global and a pioneer in agricultural gene editing. He has been instrumental in the company's development and is well-positioned to lead Cibus during its current transition.

Carlo Broos, Interim Chief Financial Officer

Carlo Broos joined Cibus in 2011 and has extensive experience in public finance, accounting, and audit practices, having held various leadership roles within the company. Prior to Cibus, he served as Head of Finance for Syngenta Europe Africa Middle East and held CFO positions for Syngenta in the Netherlands and Belgium. He is a Registered Accountant in the Netherlands and holds a Master of Science in Business Administration from Radboud University, along with a post-master program in accountancy from Tilburg University.

Rory Riggs, Co-Founder and Chairman

Rory Riggs is a co-founder of Cibus and served as its Chief Executive Officer until February 2025, when he resigned from the CEO role but remains Chairman and Co-founder. He is also the Founder and Executive Chairman of Syntax Indices (SyntaxData, LLC). Riggs co-founded and chairs Royalty Pharma, a major investor in revenue-producing intellectual property, primarily royalty interests in biopharmaceutical products. His career includes involvement in the creation and development of numerous successful healthcare and biotechnology companies such as Fibrogen, Inc., GeneNews Ltd., Sugen, Inc., and eReceivables Inc.. He was President and Director of Biomatrix Corporation (NYSE: BXM), where he launched Synvisc, a key osteoarthritis treatment, and later sold the company to Sanofi/Genzyme. Riggs also served as CEO of RF&P Corp., an investment company, until its acquisition by Lazard. His involvement with Royalty Pharma and Scientia Ventures LLC (a venture investor in Cibus) suggests a pattern of managing companies backed by investment firms.

Noel Sauer, Senior Vice President, Research

Noel Sauer is the Senior Vice President of Research at Cibus.

James Radtke, Senior Vice President, Product Development

James Radtke serves as the Senior Vice President of Product Development at Cibus.

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Key Risks to Cibus (CBUS)

1. Significant Financial Challenges and Going Concern Doubt: Cibus faces substantial ongoing losses and a lack of sufficient revenue-generating commercial contracts, leading to significant financial challenges. The company's auditor has expressed doubt about its ability to continue as a going concern without securing additional financing. As of December 31, 2024, Cibus had limited cash and cash equivalents against higher current liabilities, highlighting an urgent need for capital. The company's financial strength is rated as poor, with a high probability of bankruptcy.
2. Uncertainty of Product Efficacy and Market Acceptance: There have been allegations questioning the effectiveness of Cibus's gene-editing technology in bringing desirable new crops to market. Reports include farmer complaints of lower crop yields and lost revenues, alongside instances of large seed manufacturers and distributors terminating joint ventures and partnerships with Cibus. These issues directly threaten the commercial viability and market adoption of its core technology.
3. Evolving and Restrictive Regulatory Environment: Cibus operates within a complex and dynamic regulatory landscape for gene-editing technologies, particularly in crucial markets like the European Union. Changes in these regulations could significantly impact the company's ability to commercialize its products, affect its patent rights, and limit market access. Although a recent EU agreement on New Genomic Techniques is viewed positively, regulatory uncertainties and potential changes continue to pose risks to Cibus's business strategy and execution.

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The accelerated commercialization and market penetration efforts of well-funded agricultural biotechnology companies, particularly Inari Agriculture, that are also focused on gene-editing technologies to develop and bring to market enhanced crop traits. These competitors could introduce superior traits, achieve faster market adoption, or secure more favorable licensing and market access agreements, thereby directly challenging Cibus's market share in specific crop segments and diluting its competitive advantage in gene-edited solutions.

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Cibus (CBUS) has identified the following addressable markets for its main products:

• Wheat: The addressable market in Australia, the U.S., Canada, and Europe is well north of 50 million acres. This figure does not include Latin America or Asia. Trait fees for wheat could range from $7 to $10 per acre.
• Rice: In Latin America, Cibus has identified an accessible market of 3 million acres for rice, with potential trait fees between $20 and $40 per acre. The total rice acreage planted in Latin America is 13 million acres, suggesting a larger potential market. Further deals in Latin America could potentially double or triple accessible rice acreage.
• Biofragrance Products and Sustainable Ingredients: Cibus is focusing on these areas for near-term revenue opportunities. While Cibus sees potential for expanding opportunities in bio-based products, a specific quantified market size for biofragrance products and sustainable ingredients is not available in the provided information.

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Cibus (CBUS) is poised for future revenue growth over the next 2-3 years, driven by several key initiatives in its gene-editing technology for agricultural crops and sustainable ingredients:

1. Commercialization of Rice Herbicide Tolerance Traits (HT1 & HT3): Cibus is progressing towards the commercial launch of its HT1 and HT3 rice traits in Latin America by 2027, with plans to expand into the U.S. market in 2028. These traits have a potential for annual royalties exceeding $200 million upon full commercialization. The company has secured strategic collaborations with major rice seed companies, including Nutrien and Interoc, and has already completed initial transfers of customer germplasm containing these traits, signaling the beginning of commercialization for its rice traits.
2. Revenue Generation from Pod Shatter Reduction (PSR) Trait in Canola and Winter Oilseed Rape: Cibus has established agreements with ten seed company customers, such as Bayer, Nuseed, and Nutrien, to integrate its PSR trait into their elite germplasm. This customer base represents a significant market of over 20 million acres, with a potential for approximately $150 million in annual royalties. Major milestones were achieved in 2023 with completed transfers to multiple customers, indicating that the PSR trait is nearing revenue generation.
3. Launch and Expansion of Bio-fragrance Products (Sustainable Ingredients Program): Cibus anticipates generating initial nominal revenues from its sustainable ingredients program, specifically bio-fragrances, in 2025, with a broader commercial expansion targeted for 2026. This initiative represents a new product line contributing to future revenue streams.
4. Development and Commercialization of Second-Generation Herbicide Tolerance (HT2) in Canola and Soybean: The company announced positive field trial results for its second-generation herbicide tolerance (HT2) edited canola in October 2025, and this trait will be offered to potential seed licensing partners. Additionally, Cibus is advancing its soybean platform, having achieved breakthrough initial HT2 trait edits, which positions the company to address an estimated 75 million accessible acre market.
5. Expansion of Gene Editing Platform and Strategic Licensing Agreements: Cibus is transitioning into a commercial gene editing company, focusing on developing and licensing its proprietary gene-edited plant traits to seed companies in exchange for royalties on seed sales. This strategy, coupled with ongoing collaborations with major seed company customers and favorable regulatory progress in key markets like Ecuador, India, and the U.S. regarding gene-edited crop adoption, is fundamental to its long-term revenue growth.

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Share Issuance

• In June 2025, Cibus completed a public offering of 15,714,285 shares of Class A Common Stock at $1.75 per share, raising approximately $27.5 million in gross proceeds.
• In January 2025, the company completed a registered direct offering of 9,040,000 shares of Class A Common Stock (including pre-funded warrants) at $2.50 per share, generating approximately $22.6 million in gross proceeds.
• The proceeds from both offerings are primarily intended to fund the development of productivity traits, such as weed management in Rice, and for general working capital purposes.

Inbound Investments

• Cibus's latest funding round was a Post IPO round on April 8, 2020, for $702K, with Qubis as the lead investor.
• The $27.5 million public offering in June 2025 included participation from institutional and strategic investors.
• The $22.6 million registered direct offering in January 2025 involved existing institutional and strategic investors.

Outbound Investments

• Cibus made a Seed Round investment in BeeHero on May 28, 2020.

Capital Expenditures

• As of August 2025, Cibus anticipates its existing cash reserves will cover planned operating expenses and capital expenditures into the second quarter of 2026.
• Capital expenditures are focused on advancing the company's gene editing pipeline, particularly the development of productivity traits such as weed management in Rice.
• Cibus is implementing a strategic realignment aimed at reducing its annual net cash usage, which includes capital expenditures, to approximately $30 million by 2026.