Bio-agriculture firm Cibus tumbles on planned stock offering

Cibus

04/06/2025 22:06

**  Shares of Cibus CBUS.O down 17% in extended trading at $1.96 as agricultural biotechnology firm seeks equity raise

** San Diego, California-based gene-editing co announces stock, or stock equivalents, offering; targeted deal size not disclosed

** Co says board chairman and co-founder Rory Riggs has indicated to buy up to $10 mln worth of the offering

** It plans to use net offering proceeds to fund development of weed management productivity traits in rice and for working capital and other general purposes, as it pursues longer-term financing

** With ~34.4 mln shares outstanding, co has roughly $80 mln market cap

** CBUS shares fell for fourth straight session on Weds, closing down 15.7% at $2.36

** Stock ended 2024 at $2.78 and was trading around $11 a year ago

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

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