Yield10 Bioscience, Inc. (YTEN) Tops Q3 EPS by 7c

Yield10 Bioscience, Inc. (NASDAQ: YTEN) reported Q3 EPS of ($0.87), $0.07 better than the analyst estimate of ($0.94). Revenue for the quarter came in at $204 thousand versus the consensus estimate of $240 thousand.

"We are very pleased with our strong progress across multiple fronts in the third quarter and beyond," said Oliver Peoples, Ph.D., President and Chief Executive Officer of Yield10 Bioscience. “We completed harvesting for our 2020 field test program to evaluate novel yield and compositional traits in Camelina and canola conducted in the United States and Canada, and look forward to reporting data in the fourth quarter of 2020 through early 2021. We plan to evaluate seed yield, oil content, PHA content and other metrics of the traits which will also inform our priorities for trait evaluation in 2021.”

“We are very pleased to have recently announced our collaboration with Rothamsted Research for the advancement of technology that enables the land-based, sustainable production of omega-3 (DHA + EPA) oils for use in aquaculture. There is a significant market opportunity for the development of plant-based feeding solutions for the production of fish, particularly salmon, for human consumption. The technology has demonstrated the DHA + EPA omega-3 trait in Camelina and is highly complementary to our own Camelina Platform. The key objective is to support Rothamsted’s continued research as they further optimize the DHA + EPA omega-3 trait as a drop-in replacement for southern hemisphere fish oil and conduct field tests and feeding studies. Yield10 will develop a strategic business plan with an initial focus on South America.”

"In addition to executing our field test program and advancing our Camelina business plan, we also shored up our balance sheet in the third quarter with the closing of a public offering and concurrent private placement of common stock that raised $5.7 million in gross proceeds to Yield10. As we approach year end 2020, we remain focused on generating proof points for our traits in development and on advancing business discussions around our Camelina business plan," Dr. Peoples concluded.

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

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