Yield10 Bioscience, Inc. (YTEN) Misses Q3 EPS by 6c

Yield10 Bioscience, Inc. (NASDAQ: YTEN) reported Q3 EPS of ($0.26), $0.06 worse than the analyst estimate of ($0.20).

"During the third quarter we continued to execute on our key objectives for 2018 as we signed a new research license with Forage Genetics for testing our yield traits in sorghum, clarified the regulatory path for genome-edited plants containing multiple edits, and advanced our yield traits in development," said Oliver Peoples, Ph.D., President and Chief Executive Officer of Yield10 Bioscience. "As the end of the year approaches, we plan to report out results from our 2018 field tests; select the traits and constructs in Camelina, canola and soybean for field testing in 2019; and continue to identify opportunities for collaboration with leading players in the agricultural industry."

"Our recent agreement with Forage Genetics, a market leader in forage crops, will expand the evaluation of our traits in another commercially important crop. Further, it provides another path to generating data for our traits as well as a potential path to commercialization in sorghum if the traits add a performance benefit to the crop."

"Our results with C3004 in growth chamber studies showing seed yield improvements of up to 65% in Camelina are early, but very exciting, and highlight our leadership as an agricultural biotech innovator. This outstanding result is another demonstration that we can significantly increase seed yield based on insights developed using our technology platform. We are accelerating development of our C3004 trait alone and in combination with C3003, and we plan on using our Camelina platform for field testing in 2019. In addition, we believe there may be paths to develop C3004 as a genome-edited, nonregulated trait, and work is underway to deploy C3004 in canola and soybean," concluded Dr. Peoples.

For earnings history and earnings-related data on Yield10 Bioscience, Inc. (YTEN) click here.

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