The following is a summary of the Yield10 Bioscience, Inc. (YTEN) Q4 2023 Earnings Call Transcript:
Financial Performance:
Yield10 Bioscience reported a net loss of $3.3 million or $0.27 per share for Q4 2023, the same as the Q4 of the previous year.
R&D expenses were $2 million during Q4 2023, and payments from seed and harvested grain shipments reduced their R&D expenses by $110,000.
G&A expenses stayed consistent at $1.4 million for both Q4 2023 and 2022.
For the entire year of 2023, the company reported a net loss of $14.5 million or $1.82 per share, compared to a net loss of $13.6 million or $2.76 per share in 2022. R&D expenses for 2023 were slightly up from the previous year, while G&A expenses remained the same.
Business Progress:
Yield10 is progressing in commercializing sustainable products using oilseed Camelina, focusing on omega-3 fatty acids and low carbon biofuels.
They revised their biofuel strategy to provide R&D services to third parties. This resulted in their first license agreement with Vision Bioenergy Oilseeds, an arm of Shell Oil.
The company cleared all major regulatory hurdles to grow genetically engineered Camelina in the US and plans to begin commercial production of their EPA and EPA DHA oil products in 2025/2026.
The focus is not just on company growth, but also addressing market gaps in aquaculture, human nutrition, and pharmaceuticals, and the energy sector.
Plans for 2024 include delivering the first omega-3 product samples and gaining regulatory approval for oil use in Chile's aquafeed.
Yield10 is also working towards scaling their production and pursuing partnerships for offtake agreements of omega-3 oil.
More details: Yield10 Bioscience IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.