Yield10 Bioscience, Inc. (YTEN) Misses Q4 EPS by $8.05, Revenues Miss

Yield10 Bioscience, Inc. (NASDAQ: YTEN) reported Q4 EPS of ($12.05), $8.05 worse than the analyst estimate of ($4.00). Revenue for the quarter came in at $140 thousand versus the consensus estimate of $200 thousand.

"In 2019 we consistently met our milestones as we brought forward new crop traits in development, generated proof points, and expanded testing of our traits into additional crops," said Oliver Peoples, Ph.D., president and chief executive officer of Yield10 Bioscience. "In 2020 we expect to advance our traits to achieve additional development milestones, continue to build relationships with major agricultural companies, and further demonstrate the commercial pathways for our performance traits."

“Our traits represent potentially game-changing technology in agriculture that could allow the development of new crops with advanced performance and compositional profiles. We reported encouraging data from our 2019 field tests, and planning is well underway to support our field testing program in Camelina and canola in the 2020 growing season. Our 2020 field tests will be configured with the objective of generating valuable research, agronomic, and field data that support the formation of collaborations and other opportunities for revenue generation."

“We are now well-positioned to capture value from our investments, capabilities, and performance in Camelina as a platform crop for producing specialty products including nutritional oils, as well as future products of commercial interest, such as PHA biomaterials for water treatment applications. Camelina has high upside potential and is readily segregated geographically from the major row crops so it is not expected to compete with acreage with elite corn or soybean. In 2019, we filed three new patent applications including the use of gene combinations to boost oil content in crops, and on breakthrough technology for making PHB biomaterials in Camelina which we are planning to field test in 2020. As we develop our business plan for the Camelina platform, we plan to pursue new opportunities for collaboration along the value chain."

"We have begun the transition into a development stage company, actively engaging in commercialization efforts by identifying partners and processes we believe will scale our business and position Yield10 for future growth. In 2019, we executed a critical component of our strategy working with major agricultural companies to test our yield traits in commercial crops. We expanded our research agreement with Bayer for evaluation of our C3004 trait in soybean and signed a research agreement with Simplot, a major, privately held food and agribusiness company, to test our novel traits in potato. Both of these are examples of market leaders deploying and testing our innovative performance traits in crops of commercial significance. In addition, we engaged with a major agricultural company to deploy six traits in corn and the first phase of this development was recently completed. Further, we have signed a new agreement with a seed company for the next phase of technical development to enable field trials with our traits in the future and to position the program for partnership going forward. In 2020, we expect the work executed through major agriculture companies to generate additional data and insights into deploying our traits in commercial crops,” said Dr. Peoples.

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

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