Agritech firm Cibus sinks on heavily discounted share sale

Cibus

26/03/2026 11:43

** Agricultural technology firm Cibus CBUS.O shares sink 22.3% to $2.23 premarket after deep-discounted follow-on

** San Diego, California-based gene-editor early Thurs announces pricing ~7 mln shares at $2.15 for $15 mln gross proceeds

** Offering priced at 25.1% discount to stock's last sale of $2.87 on Weds

** Co intends to use net offering proceeds for working capital and general purposes, including funding further development of its weed management traits in rice, per the prospectus

** BTIG sole underwriter

** Co has ~69.2 mln shares outstanding

** CBUS shares closed up ~6% on Weds, stretching YTD gain to 65%, and ~32% below their 1-year intraday high of $4.19 from Mar 11

** 2 analysts rate the stock "buy", 1 rates "hold"; PTs are $3, $16 and $25, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))