Cibus, Inc. (NASDAQ:CBUS) Q1 2024 Results Conference Call May 9, 2024 4:30 PM ET

Company Participants

Wade King - Chief Financial Officer
Rory Riggs - Co-Founder, Chief Executive Officer and Chairman
Peter Beetham - Co-Founder, President and Chief Operating Officer

Conference Call Participants

Bobby Burleson - Canaccord Genuity
Carol Cheung - Jefferies
Steve Byrne - Bank of America

Operator

Good afternoon, and welcome to the Cibus First Quarter 2024 Results Conference Call. [Operator Instructions] Please also note today's event is being recorded.

At this time, I'd like to turn the conference over to Wade King, Chief Financial Officer. Please go ahead.

Wade King

Thank you, and good afternoon. This is Wade King, Chief Financial Officer of Cibus. I would like to thank you for taking time to join us for Cibus' First Quarter 2024 Financial Results and Corporate Update Conference Call and Webcast.

Presenting with me today is Rory Riggs, our Co-Founder, Chief Executive Officer and Chairman; and Peter Beetham, Co-Founder, President and Chief Operating Officer.

Before we begin the call, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results and future operational goals and industry prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to Cibus' SEC filings for a list of associated risks. This conference call is being webcast. The webcast link along with our press release and corporate presentation are available on the Investor Relations section of cibus.com to assist in your analysis of the business.

With that, I would now like to turn the call over to Mr. Riggs. Go ahead, Rory.

Rory Riggs

Thanks, Wade. I'll begin today's call with a high-level update of our business this quarter. Then Peter will walk you through our recent Q1 commercial progress and discuss how we're doing on our expected 2024 milestones. Wade will then come back and finish with a discussion of financials.

This was an amazing quarter for our commercial accomplishments and for the positive developments in the regulatory environment for gene editing. Much about this quarter is our successful transformation from an R&D-focused company to being the first commercial stage gene editing company.

By commercial-stage gene editing company, we mean that we are in the business of commercializing validated gene edited traits. Our customers are seed companies. We're not in the seed business. Our business is to sell validated traits to seed companies for annual royalties. In other words, we license traits that we have developed with our gene edging technology to seed companies.