NEW YORK, NY / ACCESSWIRE / May 23, 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 May 2018 Update.
Yield10 Bioscience (NASDAQ: 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 is 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 note include:
On May 8, 2018, YTEN reported 1Q18 results, reflecting progress in trait development as the company outlined field test and research and development initiatives for the upcoming year, with highlights as follows:
- YTEN completed planning and permitting for 2018 field tests for its lead C3003 trait. Management has planned a field test for C3003 in camelina and canola to evaluate its impact on increasing yield. The company also has planned a small test to evaluate the impact of C3003 on soybean yield.
- In addition to C3003, YTEN will also conduct a field test for C3008 in camelina. C3008 is a genome-edited trait designed to improve the carbon flow in oil biosynthesis with an aim to increase seed oil content and stability.
- Monsanto partnership progresses. YTEN provided an update on its ongoing relationship with Monsanto. The deal, which commenced in December 2017, has three years remaining in its term and grants Monsanto a non-exclusive license to evaluate YTEN's C3003 and C3004 traits in soybeans.
- YTEN CEO Oliver Peoples confirmed that the research partnership had commenced and that YTEN had provided Monsanto with what the company required to evaluate C3003 in soybean. Monsanto has three years remaining to evaluate the trait and would negotiate a licensing deal at the end of that term if it opts to move forward.
- YTEN ends 1Q18 with a clean balance sheet with cash to support the company into mid-2019. The company ended 1Q18 with cash and investments on the balance sheet of $11.6mn, which should be sufficient to provide the company runway until mid-2019, according to management. YTEN used $3.0mn of cash in operating activities in 1Q18 and has guided to cash usage of $9.0mn - $9.5mn in 2018.
No change to price target at this time
Our price target for YTEN is unchanged at this time. 1Q18 results set the stage for an important planting season, which should provide additional data for the company's portfolio of traits. We plan to re-evaluate the price target following results, a more expansive update of the Monsanto relationship, or more visibility into the company's other partnership discussions.
Please review important disclosures in the report and 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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