Wed, May 15, 8:10 PM (205 days ago)
Yield10 Bioscience, Inc.'s Q1 2024 financial report indicates a net loss of $2,472, a significant improvement from the $3,782 loss in Q1 2023. Total revenue increased to $300 from $60, primarily due to new license revenue from VISION Bioenergy Oilseeds, LLC. Operating expenses decreased by 29%, driven by reductions in research and development (R&D) and general administrative costs. R&D expenses fell by 37% due to lower employee compensation and crop trial costs. The company’s cash and equivalents rose to $1,597 from $1,068 at year-end 2023, bolstered by a $1,211 warrant exercise. However, liquidity remains a concern, with management indicating substantial doubt about continuing operations beyond Q2 2024 without additional financing. The company is exploring various funding strategies, including equity and debt financing, collaborations, and government grants. Yield10’s stock will be delisted from Nasdaq on May 16, 2024, and will trade on the OTC market.