Cibus Reports Improved Financial Performance with $43.4 Million Net Loss for First Half of 2026

Cibus, Inc. reported a net loss of $43.4 million for the six months ended June 30, 2026, a significant improvement compared to a net loss of $75.9 million during the same period in 2025. The company's revenue for the first half of 2026 reached $2.7 million, up 36% from $2.0 million in the prior year, primarily driven by collaboration agreements related to sustainable ingredients. For the second quarter alone, Cibus generated $994,000 in revenue, a 6% increase from $933,000 in the same quarter of 2025. The company’s operating expenses also decreased, with research and development costs dropping by 28% to $17.2 million, and selling, general, and administrative expenses falling by 36% to $10.5 million.

Cibus has made strategic changes to its operations, including a leadership transition with Craig Wichner appointed as CEO in June 2026. The company has also implemented cost-cutting measures that have reduced its annual net cash usage run-rate to approximately $35 million by the end of 2026. These initiatives are part of a broader effort to streamline operations and focus on high-priority commercial programs, particularly in rice herbicide tolerance and sustainable ingredients. The company is currently working with seven rice seed company customers across Latin America and the United States, with an estimated annual addressable royalty opportunity of $200 million.

Operationally, Cibus has made progress in its product development, particularly in rice and sustainable ingredients. The company is conducting field trials for its rice herbicide tolerance traits and has expanded its collaboration with its Latin American customer, Interoc, to develop additional traits. Cibus is also ramping up its sustainable ingredients program, having begun receiving payments for pre-commercial scale-up materials. The company continues to advance its canola programs and is working towards establishing a fully operational soybean platform.

As of June 30, 2026, Cibus had $20.4 million in cash and cash equivalents, with current liabilities totaling $14.4 million. Despite the improved financial performance, the company has raised concerns about its ability to continue as a going concern, given its history of losses and the need for additional capital to support its business plans. Cibus is exploring various funding options, including public or private equity or debt financing, to ensure it can meet its operational needs and continue its growth trajectory. The company anticipates that its existing cash will be sufficient to fund operations into early 2027, but it acknowledges the uncertainty surrounding future capital availability.