Yield10 Bioscience, Inc. (YTEN) Tops Q2 EPS by 38c

Yield10 Bioscience, Inc. (NASDAQ: YTEN) reported Q2 EPS of ($0.92), $0.38 better than the analyst estimate of ($1.30). Revenue for the quarter came in at $221 thousand versus the consensus estimate of $180 thousand.

"The Yield10 team has made good progress executing on our strategic plans for 2020 and beyond," said Oliver Peoples, Ph.D., president and chief executive officer of Yield10 Bioscience. "Our field tests in the U.S. and Canada are progressing on track and will provide us with agronomic and/or performance data proof points as well as seed for larger trials planned in 2021. As part of our business plan to develop Camelina as a commercial crop platform for producing nutritional oils and PHA biomaterial, we are developing proprietary double haploid germplasm for deployment of our performance and product traits in winter and spring varieties to increase the acreage potential of the crop. In our first multi-acre planting, we contracted 50 acres in Montana of wild-type Camelina to gain experience in seed bulk-up, grower contracts, logistics and handling of harvested seed, including toll crushing, and to produce quantities of oil and protein meal for customer sampling."

"We continue to see industry interest in our performance traits as well as the capabilities enabled by our GRAIN platform. We recently signed a non-exclusive research license with GDM for evaluation of seed yield traits in soybean, which will provide opportunities to explore additional Yield10 commercial crop performance traits with a leading seed market participant and potentially provide access to South American acreage in Argentina and Brazil. Bayer, Forage Genetics and Simplot continue to evaluate our traits under similar research licenses in soybean, forage sorghum and potato, respectively. Our internal program testing traits in corn is progressing toward the creation of hybrids for field testing. We will continue to identify collaborative opportunities with the goal of creating revenue generating partnerships and paths to commercialization of our traits in key commercial crops. We remain committed to driving the Yield10 business forward and achieving our broad-based milestones in 2020," said Dr. Peoples.

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

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