NEW YORK, NY / ACCESSWIRE / March 22, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has issued an update on Yield10 Bioscience, Inc. (YTEN).
The report is available here: YTEN March 2018 Update.
Yield10 Bioscience (Nasdaq CM: YTEN, "Yield10") is an innovative agriculture bioscience company focused on the development and discovery of proprietary technologies to create a "step" increase in crop yield. With headquarters in Woburn, MA, and an oilseeds center in Saskatoon, Saskatchewan, Canada, the company has spent more than 15 years developing expertise in optimizing the flow of carbon in living systems, and is applying this extensive knowledge to designing precise alterations to gene activity designed to create a significant increase in yield for key crops including as canola, corn, soybean, and rice by as much as 10% - 20%. Core to the company's differentiated technology are proprietary gene traits designed to build better plant crops by improving their ability to capture carbon dioxide (CO2) from the atmosphere in order to increase seed and grain production for global food production.
Highlights from the update include:
On March 8, 2018, YTEN reported 4Q17 and full year 2017 results, reflecting progress in trait development as well as corporate initiatives including capital raising and partnership activities, with highlights as follows:
- Monsanto partnership validates potential for YTEN programs. In December 2017, YTEN announced that it had granted a 3.5 year, non-exclusive license to agriculture industry behemoth Monsanto (MON) for the evaluation of its C3003 and C3004 traits in soybeans.
- In our view the agreement with Monsanto represents significant progress by YTEN management in its efforts to create value from its growing platform of traits. Monsanto is a brand name in ag biosciences, and the agreement serves to provide external validation for YTEN's strategy and could potentially be a first step in the company's plans to commercialize its traits.
- YTEN completed field tests for its C3003 in camelina and canola at two sites in Canada, which showed an increase of up to 7.7% in camelina compared to control plants, and a yield increase of up to 13.1% in canola compared to control plants, supporting further evaluation of C3003 in canola and camelina in Spring 2018.
- YTEN improves balance sheet with equity offering. YTEN completed a public offering in December raising $13.1mn in net proceeds. The company ended 2017 with cash on the balance sheet of $14.5mn, which should be sufficient to provide the company runway over the next 18 months, given guidance for cash usage of $8.5mn to $9.0mn in 2018.
- YTEN reported full year 2017 results with $0.9mn in grant revenue and a net loss to common shareholders of $10.8mn, or ($3.29) per share. 4Q17 net loss to common shareholders was ($4.0mn), or ($0.99) per share.
Price target of $8.50 for YTEN
We are updating the price target to $8.50 for YTEN following 2017 results, the new share count following recent capital raising activities, and encouraging accomplishments on the partnership front. If achieved the price target represents potential upside of 327% from the recent price of $1.99 as of March 19, 2018. Please review important disclosures on our website at www.seethruequity.com.
About Yield10 Bioscience, Inc.
Yield10 Bioscience, Inc. is focused on developing new technologies to achieve step-change improvements in crop yield to enhance global food security. Yield10 has an extensive track record of innovation based around optimizing the flow of carbon in living systems. Yield10 is leveraging its technology platforms and unique knowledge base to design precise alterations to gene activity and the flow of carbon in plants to produce higher yields with lower inputs of land, water or fertilizer. Yield10 is advancing several yield traits it has developed in crops such as Camelina, canola, soybean and corn. Yield10 is headquartered in Woburn, MA and has an Oilseeds center of excellence in Saskatoon, Canada. www.Yield10bio.com.
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