Proactiveinvestors USA & Canada Arcadia Biosciences Inc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Arcadia Biosciences Inc RSS feed en Mon, 17 Jun 2019 21:48:08 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Arcadia Biosciences launches $7.5 million registered direct offering ]]> https://www.proactiveinvestors.com/companies/news/222077/arcadia-biosciences-launches-75-million-registered-direct-offering-222077.html Arcadia Biosciences Inc (NASDAQ:RKDA) announced Thursday a $7.5 million registered direct offering with several accredited and institutional investors.

The agricultural biotech company said it will use the capital for general corporate purposes, including a hemp germplasm (DNA of the hemp seed) acquisition, breeding and research activities, the scale-up of its GoodWheatTM product, and for general and administrative expenses.

Under the offering priced at-the-market that’s expected to close on Friday, investors will purchase of 1,489,575 shares of Arcadia’s common stock at $5.035 per share, according to a statement.

READ: Shares of Arcadia Biosciences jump after White House streamlines approval process of new GMO crops

Additionally, Arcadia has also agreed to issue to the investors unregistered warrants to purchase up to 1,489,575 shares of common stock at an immediately exercisable price of $5 per share. The warrants will expire five and a half years from the issue date.

Arcadia, based in Davis, California, develops high-value food ingredients and nutritional oils that aim to meet the demand for healthier diets. It also produces a GMO soybean.

The company’s stock recently traded down 33% to $3.95 a share following the company’s announcement.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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Thu, 13 Jun 2019 10:23:00 -0400 https://www.proactiveinvestors.com/companies/news/222077/arcadia-biosciences-launches-75-million-registered-direct-offering-222077.html
<![CDATA[News - Shares of Arcadia Biosciences jump after White House streamlines approval process of new GMO crops ]]> https://www.proactiveinvestors.com/companies/news/221999/shares-of-arcadia-biosciences-jump-after-white-house-streamlines-approval-process-of-new-gmo-crops-221999.html Shares of Arcadia Biosciences Inc (NASDAQ:RKDA) increased by double-digits Wednesday after the Trump administration ordered three federal agencies to ease their rules for approving genetically modified crops and other agricultural biotechnology.

President Trump on Tuesday signed an executive order instructing the Agriculture Department, the Food and Drug Administration and the Environmental Protection Agency — which oversee genetically engineered agricultural products — to review their biotech regulations to streamline the approval processes.

Arcadia, based in Davis, California, is an agricultural biotech company that develops high-value food ingredients and nutritional oils that aim to meet the demand for healthier diets. It also produces a GMO soybean.

The company’s stock closed up 19.6% to $5.91 a share.

READ: Arcadia Biosciences rapidly advances cannabis business as it reports first-quarter highlights

The White House wants to bring new agricultural biotechnology to the marketplace faster and with less cost for companies. Also the Trump administration hopes to encourage more investment in GMO crops.

Trump’s executive order comes after the US Agriculture Department last week proposed sweeping changes to biotech rules that would exempt from regulation genetically edited farm products with traits “similar in kind” to modifications that could be produced through traditional breeding techniques.

Arcadia operates in specialty genomics and has a proprietary approach combining conventional breeding and gene editing.

And on Friday the US told the World Trade Organization that it was planning to revise its regulations on importing, transporting and releasing GMOs.

“As a leading U.S. crop improvement company, Arcadia Biosciences is focused on enhancing the nutritional value and quality of food ingredients while improving crop productivity to allow America’s agricultural industry to be more sustainable and prosperous," a company spokesperson said. "We’re supportive of any legislation that fosters public confidence in science-based crop innovation and streamlines regulatory approaches in order to reduce undue financial and logistical burdens on farmers.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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Wed, 12 Jun 2019 14:18:00 -0400 https://www.proactiveinvestors.com/companies/news/221999/shares-of-arcadia-biosciences-jump-after-white-house-streamlines-approval-process-of-new-gmo-crops-221999.html
<![CDATA[Media files - Arcadia Biosciences reports 1Q highlights and outlines growth drivers for 2019 ]]> https://www.proactiveinvestors.com/companies/stocktube/13289/arcadia-biosciences-reports-1q-highlights-and-outlines-growth-drivers-for-2019-13289.html Thu, 09 May 2019 15:21:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13289/arcadia-biosciences-reports-1q-highlights-and-outlines-growth-drivers-for-2019-13289.html <![CDATA[News - Arcadia Biosciences rapidly advances cannabis business as it reports first-quarter highlights ]]> https://www.proactiveinvestors.com/companies/news/219921/arcadia-biosciences-rapidly-advances-cannabis-business-as-it-reports-first-quarter-highlights-219921.html Arcadia Biosciences Inc (NASDAQ:RKDA) said Wednesday it has achieved several highlights and is looking forward to a number of milestones ahead for its product lines. The company is rapidly advancing its cannabis business, while also pushing forward the first sales of its GoodWheat product and HB4 drought-tolerant soybeans.

The Davis, California-based company recently launched a unit, Arcadia Specialty Genomics, to focus on the genetic improvement of cannabis as well as other crops.  Arcadia’s chief financial officer Matt Plavan has been appointed president of this new business. The unit is dedicated to improving the plant quality, productivity, consistency and climate resilience of cannabis, initially in hemp. 

“With the launch of Arcadia Specialty Genomics in the first quarter of 2019 and research trials already underway, we are now leveraging our years of expertise in plant science, advanced breeding and regulatory affairs to offer value-added innovations in cannabis,” said Raj Ketkar, president and CEO of Arcadia in a statement. 

READ: Arcadia Biosciences taps new head of research and development

“We also advanced both our GoodWheat specialty ingredients and HB4 drought-tolerant soybeans this quarter, scaling production and building seed supply to support commercialization later in 2019,” he added.

Arcadia, which is transitioning to a new health and nutrition business model, also reported good news from Hawaii in 1Q, where Hawaii’s Department of Agriculture granted Arcadia Biosciences a license for its Industrial Hemp Pilot Program in March. With the licence, Arcadia Specialty Genomics began its research and cultivation immediately, planting in April.

GoodWheat production moves forward

The firm also reported progress as it completed its GoodWheat production trials in the first quarter, with harvest early in the second quarter. The company's agrricultural operations team continues to build supply in preparation for commercialization. The first sales of GoodWheat are expected by the end of 2019.

The company also reported progress with its HB4 drought tolerant soybeans, noting that Verdeca, a joint venture between Arcadia and Bioceres Crop Solutions Corp, introduced HB4 soybeans at Expoagro, the largest farm show in Argentina.

The company reported in the first quarter of 2019, revenues were $158,000, compared to revenues of $214,000 in the first quarter of 2018. The company noted this change was primarily impacted by the decrease in government grant revenue, partially offset by the increase in product sales. The company reported a net loss for 1Q of $12.6 million, up from $10.6 million loss in the first quarter of 2018.

Arcadia shares slipped 3.5% at US$5.56 in after-hours trade.

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 08 May 2019 17:03:00 -0400 https://www.proactiveinvestors.com/companies/news/219921/arcadia-biosciences-rapidly-advances-cannabis-business-as-it-reports-first-quarter-highlights-219921.html
<![CDATA[News - Arcadia Biosciences taps new head of research and development ]]> https://www.proactiveinvestors.com/companies/news/218258/arcadia-biosciences-taps-new-head-of-research-and-development-218258.html Arcadia Biosciences Inc (NASDAQ:RKDA), a food-ingredient company, said Tuesday it has tapped Randy Shultz as its new head of research and development.

Shultz has nearly 20 years of plant science and agricultural biology experience, including a stint as global crop lead at Inari Agriculture, a plant breeding company in Cambridge, Massachusetts, where he was head of R&D.

WATCH: Arcadia Biosciences on cusp of launching its GoodWheat and Soybean products

“Throughout his career, Randy has established a reputation as a keen R&D strategist, driving products through the pipeline from invention through commercial planning,” said Arcadia CEO Raj Ketkar in a statement. “We are thrilled to have a science leader of Randy’s caliber as we build our capabilities in cannabis and advance future innovations in our GoodWheat portfolio of novel wheat attributes.”

Shultz previously spent four years at Monsanto leading R&D, dicot transformation and gene-editing teams. In 2018, he co-founded Craved By Dogs, a company that sells cannabidiol-infused dog treats. 

Shultz replaces Claire McCallum, who now works as a consultant in agricultural biology. 

Shares of the California-based company were up nearly 2% to $7.13 at midday.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Tue, 09 Apr 2019 10:51:00 -0400 https://www.proactiveinvestors.com/companies/news/218258/arcadia-biosciences-taps-new-head-of-research-and-development-218258.html
<![CDATA[Media files - Arcadia Biosciences on cusp of launching its GoodWheat and Soybean products ]]> https://www.proactiveinvestors.com/companies/stocktube/12824/arcadia-biosciences-on-cusp-of-launching-its-goodwheat-and-soybean-products-12824.html Tue, 02 Apr 2019 14:24:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12824/arcadia-biosciences-on-cusp-of-launching-its-goodwheat-and-soybean-products-12824.html <![CDATA[Media files - Arcadia Biosciences' new focus on health and nutrition to increase revenue growth ]]> https://www.proactiveinvestors.com/companies/stocktube/12775/arcadia-biosciences--new-focus-on-health-and-nutrition-to-increase-revenue-growth-12775.html Thu, 28 Mar 2019 14:00:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12775/arcadia-biosciences--new-focus-on-health-and-nutrition-to-increase-revenue-growth-12775.html <![CDATA[News - Arcadia Biosciences rises as company says it's well-positioned to apply expertise to cannabis ]]> https://www.proactiveinvestors.com/companies/news/217365/arcadia-biosciences-rises-as-company-says-it-s-well-positioned-to-apply-expertise-to-cannabis-217365.html Arcadia Biosciences Inc (NASDAQ:RKDA) climbed in Wednesday’s extended trading after saying it’s well-positioned to apply its expertise to cannabis.

The food ingredient company said a new business unit, Arcadia Specialty Genomics, is dedicated to improving the plant quality, productivity, consistency and climate resilience of cannabis, working initially in hemp in legal markets.

Shares of Arcadia advanced 3.5% to $7.20 in after-hours trading.

READ: Arcadia Biosciences shares soar after FDA approves GLA safflower oil in cat food

“This is a natural evolution of our business, consistent with Arcadia’s focus as a consumer-driven agricultural technology company, developing and commercializing innovative food ingredients, nutritional oils and products that improve crop productivity, nutritional quality and value,” Arcadia CEO Raj Ketkar said in a statement.

Looking back at 2018, the Davis, California, company delivered significant regulatory, commercial and scientific advancements in wheat, soy, tomato and safflower, according to Ketkar.

Highlights for the year included the granting of a US patent for technology that extends the storage life of whole-wheat flour by minimizing oxidation.

The company reported that the net loss attributable to common stockholders for the fourth quarter was $646,000, or $0.14 per share, compared with a loss of $3 million loss a year earlier.

The net loss attributable to common stockholders for 2018 was $13.5 million, or a loss of $3.58 per share, compared with the $15.7 million loss in 2017.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Wed, 27 Mar 2019 16:50:00 -0400 https://www.proactiveinvestors.com/companies/news/217365/arcadia-biosciences-rises-as-company-says-it-s-well-positioned-to-apply-expertise-to-cannabis-217365.html
<![CDATA[News - Arcadia Biosciences' joint venture Verdeca unveils HB4 drought-tolerant soybeans in Argentina ]]> https://www.proactiveinvestors.com/companies/news/217227/arcadia-biosciences--joint-venture-verdeca-unveils-hb4-drought-tolerant-soybeans-in-argentina-217227.html Arcadia Biosciences Inc (NASDAQ:RKDA) told investors Tuesday that Verdeca, its joint venture with Bioceres Crop Solutions Corp (NYSEAmerican:BIOX), has introduced soybean varieties carrying the drought-tolerant HB4 trait for the first time to growers in Argentina.

The pre-commercial soybeans – which are resistant to droughts - were showcased at Argentina’s largest farm show, Expoagro, which was held March 12 to 15, in San Nicolas, Argentina.

The HB4 trait marks Verdeca’s first release from its pipeline of yield and quality traits. The result of years of research, HB4 soybean varieties reduce yield loss when crops face droughts.

READ: Arcadia Biosciences shares pop after receiving industrial hemp license in Hawaii

In response, investors sent Arcadia shares up almost 1% to $7.00 in afternoon trade Tuesday.

In a statement, Raj Ketkar, CEO of Arcadia Biosciences, noted that Arcadia and Verdeca are preparing for the commercial launch of HB4 this year, pending regulatory approval in China.

“Farmers have responded favorably to the pre-commercial introduction of our HB4 technology, reinforcing the market demand and potential for climate resilient crops,” said Ketkar.

On top of drought tolerance, HB4 soybeans also offer resistance to glufosinate, a herbicide used to control a wide range of weeds.

READ: Arcadia Biosciences shares soar on move into cannabis business

More than 1,200 attendees at Expoagro toured the Verdeca pavilion and field plots to see the HB4 soybeans on display. Growers visiting the Verdeca pavilion at the farm show were also able to sign up for a Verdeca program, which allows them to test HB4 soybean varieties in their fields.

Arcadia and Bioceres set up Verdeca in 2012 to develop and mass produce soybean traits, starting in South America and North America, where most soybeans are harvested.

Verdeca’s HB4 trait has already been approved in Argentina and by the US Food and Drug Administration. Regulatory submissions for the trait are still being considered by the US Department of Agriculture and in Brazil, Paraguay, Uruguay, Bolivia and China.

Based in Davis, California, Arcadia develops high-value food ingredients and nutritional oils that aim to meet the demand for healthier diets.

The company recently set up a unit, Arcadia Specialty Genomics, to focus on the genetic improvement of cannabis and hemp.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

-- This story is updated to reflect latest share price movement --

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Tue, 26 Mar 2019 07:58:00 -0400 https://www.proactiveinvestors.com/companies/news/217227/arcadia-biosciences--joint-venture-verdeca-unveils-hb4-drought-tolerant-soybeans-in-argentina-217227.html
<![CDATA[News - Arcadia Biosciences shares soar after FDA approves GLA safflower oil in cat food ]]> https://www.proactiveinvestors.com/companies/news/216558/arcadia-biosciences-shares-soar-after-fda-approves-gla-safflower-oil-in-cat-food-216558.html Shares of Arcadia Biosciences Inc (NASDAQ:RKDA) rallied Friday after the US Food and Drug Administration approved its SONOVA gamma linolenic acid (GLA) safflower oil for use in cat food.

The oil, which is a concentrated source of GLA – an omega 6 fatty acid already used in nutritional supplements for humans - first got the green light from the FDA for use in canine diets back in 2017.

Investors applauded the FDA’s move, sending Arcadia shares up 26% to $8.83 before Friday’s opening bell.

READ: Arcadia Biosciences shares soar on move into cannabis business

“The FDA clearance of SONOVA GLA for use in cat food is another example of our proven ability to improve crops’ nutrition and value as ingredients from concept to commercialization, as with our GoodWheat platform, said Raj Ketkar, Arcadia’s CEO in a statement. “SONOVA GLA will allow cat and dog food formulators to respond to consumer demand for natural, plant-based oils as wellness ingredients for their beloved companions.”

In pets, the benefits of GLA include reducing inflammation, improving metabolism, boosting the immune system and improving the health and shine of skin and coats. GLA is found in only a handful of plant-based oils, such as evening primrose oil and borage oil, which contain about 10% and 20% GLA respectively.

READ: Arcadia Biosciences shares pop after receiving industrial hemp license in Hawaii

By comparison, SONOVA, which is the end-product of crop improvement by Arcadia’s scientists, contains 40% GLA, which makes it a particularly concentrated source of GLA.

SONOVA was introduced to the dog food market in the US in 2018 and has been used in dry dog and cat food formulas in Canada since 2015.

Based in Davis, California, Arcadia develops high-value food ingredients and nutritional oils that aim to meet the demand for healthier diets.

The company recently set up a unit, Arcadia Specialty Genomics, to focus on the genetic improvement of cannabis and hemp.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Fri, 15 Mar 2019 07:49:00 -0400 https://www.proactiveinvestors.com/companies/news/216558/arcadia-biosciences-shares-soar-after-fda-approves-gla-safflower-oil-in-cat-food-216558.html
<![CDATA[Media files - Arcadia Biosciences receives Hawaii industrial hemp license ]]> https://www.proactiveinvestors.com/companies/stocktube/12466/arcadia-biosciences-receives-hawaii-industrial-hemp-license-12466.html Tue, 05 Mar 2019 14:10:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/12466/arcadia-biosciences-receives-hawaii-industrial-hemp-license-12466.html <![CDATA[News - Buds & Duds: Arcadia Biosciences stock soars after earning Hawaii hemp license ]]> https://www.proactiveinvestors.com/companies/news/215751/buds--duds-arcadia-biosciences-stock-soars-after-earning-hawaii-hemp-license-215751.html Cannabis stocks had a rough day on Monday, echoing the widespread losses felt across Wall Street.

The North American Marijuana Index, which tracks leading cannabis stocks in the US and Canada, fell 1.8% to 286.5.

Buds

Bucking the trend, shares of Arcadia Biosciences Inc (NASDAQ:RKDA) surged Monday after announcing it received its first industrial hemp license in Hawaii. The Davis, California-based company recently launched Arcadia Specialty Genomics, a unit dedicated exclusively to cannabis, which will begin research in April on a 10-acre facility. As a result, shares of the food ingredient company are up 11.1% to $8.01.

Also trading higher was Vancouver-based Harvest One Cannabis Inc (CVE:HVT), which saw share prices jump 9.1% to $0.72 after the company announced an agreement Monday to acquire biotech company Delivra Corp (TSXV:DVA) in a C$19 million all-stock deal. Delivra’s LivRelief brand produces topicals and creams, which Harvest One’s CEO Grant Froese says will serve them well with cannabis-infused products expected to become legal in Canada this fall, per a press release from the two companies.

Duds

Shares of Aurora Cannabis Inc. (NYSE:ACB) dipped 2.7% to $7.14 amid a deal to acquire a stake in privately held Whistler Medical Marijuana. The Edmonton-based company will pay roughly US$175 million to Cronos Group Inc (NASDAQ:CRON) for its 19% stake in Whistler, with Cronos getting about 2.5 million of Aurora common shares worth about C$24.6 million.

Last September, Aurora was said to be in talks with The Coca-Cola Co (NYSE:KO) about a joint venture in CBD-infused beverages. Nothing has come to fruition yet, but analyst Rob Wertheimer of Melius Research has rated the company Overweight.

Falling even farther was Terra Tech Corp. (OTCMKTS:TRTC), whose shares dropped 12.8% to $0.77. The Irvine, California-based company announced today that renovations of its cultivation facility in Oakland have been completed. Planting is expected to commence later this week, per a statement from the company.

Contact Andrew Kessel: andrew.kessel@proactiveinvestors.com

Follow him on Twiter: @andrew_kessel

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Mon, 04 Mar 2019 15:54:00 -0500 https://www.proactiveinvestors.com/companies/news/215751/buds--duds-arcadia-biosciences-stock-soars-after-earning-hawaii-hemp-license-215751.html
<![CDATA[News - Arcadia Biosciences shares pop after receiving industrial hemp license in Hawaii ]]> https://www.proactiveinvestors.com/companies/news/215722/arcadia-biosciences-shares-pop-after-receiving-industrial-hemp-license-in-hawaii-215722.html Shares of Arcadia Biosciences (NASDAQ:RKDA) rocketed Monday after the agricultural food ingredient company announced it has been granted an industrial hemp pilot program license by Hawaii’s Department of Agriculture.

The license will allow Arcadia to continue its new push into the hemp market as it permits the cultivation of industrial hemp in Hawaii for the purpose of agricultural and academic research. Hemp and hemp products produced under the program can be sold commercially.

In response to the news, investors sent Arcadia shares up 24.8% to $9.00 before the opening bell on Monday.

READ: Arcadia Biosciences shares soar on move into cannabis business

The Davis, California-based company announced last week that it has launched a unit, Arcadia Specialty Genomics, to focus on the genetic improvement of cannabis, hemp and other crops.

With this license, Hawaii becomes the first state where Arcadia Specialty Genomics will kick off its research and cultivation of hemp, planting on ten acres of recently-leased land next month.

The combination of the license and the cultivation facility underline Arcadia’s move to leverage its expertise as a science-driven company and genetics innovator in food crops into legal cannabis markets.

“As the only company working in the cannabis industry with a proven track record of improving plants and commercializing food ingredients from agricultural products using non-GM techniques, we’re ideally positioned to help hemp growers and end-users benefit from better hemp strains,” said Matt Plavan, CFO of Arcadia Biosciences and president of Arcadia Specialty Genomics.

“Being licensed by the state of Hawaii to participate in this highly selective program gives us an important head start and we’re moving quickly to establish our Hawaii research program immediately as we pursue expansion through licenses in other states,” Plavan added.

READ: Arcadia Biosciences CEO offers time line for getting new products to market

Arcadia’s move to apply its expertise in crop improvement to cannabis and hemp, with an initial focus on the hemp market, comes at a time when the cannabis market is burgeoning.

The recent passage of the US Farm Bill, which legalizes the commercial production of hemp and spurs the growth of cannabidiols (CBD), creates considerable opportunity for Arcadia.

Arcadia Specialty Genomics will develop new cannabis and hemp varieties that are more productive and more resistant to pests that can be licensed to cultivators and used for nutraceutical and food-based products.

Such developments are made possible through Arcadia’s approach, which combines conventional breeding, advanced screening as well as gene editing. Through this process, plant populations carrying desirable genetic characteristics are identified, isolated and bred to reproduce.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Mon, 04 Mar 2019 07:56:00 -0500 https://www.proactiveinvestors.com/companies/news/215722/arcadia-biosciences-shares-pop-after-receiving-industrial-hemp-license-in-hawaii-215722.html
<![CDATA[Media files - Arcadia Biosciences gets into the cannabis game leveraging its wheat-breeding techniques ]]> https://www.proactiveinvestors.com/companies/stocktube/12400/arcadia-biosciences-gets-into-the-cannabis-game-leveraging-its-wheat-breeding-techniques-12400.html Thu, 28 Feb 2019 16:02:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/12400/arcadia-biosciences-gets-into-the-cannabis-game-leveraging-its-wheat-breeding-techniques-12400.html <![CDATA[News - Arcadia Biosciences shares soar on move into cannabis business ]]> https://www.proactiveinvestors.com/companies/news/215528/arcadia-biosciences-shares-soar-on-move-into-cannabis-business-215528.html Shares of Arcadia Biosciences Inc (NASDAQ:RKDA) soared Thursday after the agricultural food ingredient company announced it would apply its breeding techniques to a new crop: cannabis.

The Davis, California-based company has set up a unit, Arcadia Specialty Genomics, to focus on the genetic improvement of cannabis as well as other crops.  And Arcadia’s chief financial officer Matt Plavan has been appointed president of this new business.

Investors were enthusiastic about the move, sending Arcadia shares soaring 63% to $8.80 before the opening bell Thursday.

READ: Arcadia Biosciences CEO offers time line for getting new products to market

Arcadia’s move to apply its expertise in crop improvement to cannabis, with an initial focus on the hemp market, comes at a time when the cannabis market is burgeoning.

“Within the rapidly growing legal cannabis industry, we see enormous opportunity in – and demand for – improved plant quality, productivity, consistency and resilience,” said Raj Ketkar, CEO of Arcadia Biosciences in a statement. “With this new operating unit, Arcadia Specialty Genomics, we are uniquely qualified as a proven crop improvement company equipped to address the legacy challenges facing a plant that until recently was largely grown unlawfully.”

The recent passage of the US Farm Bill, which legalizes the commercial production of hemp and spurs the growth of cannabidiols (CBD), creates considerable opportunity for Arcadia.

“As with our wheat and soybean products, we will create hemp-based solutions that allow farmers to be more productive and enable consumer-packaged goods companies to differentiate their brands in the marketplace,” said Plavan in a statement.

“Our ability to bring innovative traits to the market for some of the most complex plant genomes is unparalleled, and we’re excited to turn our attention and expertise to the critical needs facing the rapidly evolving cannabis industry,” Plavan added. 

Creating new varieties

Arcadia Specialty Genomics will develop new cannabis varieties that are more productive and more resistant to pests that can be licensed to cultivators and used for nutraceutical and food-based products.

Such developments are made possible through Arcadia’s approach, which combines conventional breeding, advanced screening as well as gene editing. Through this process, plant populations carrying desirable genetic characteristics are identified, isolated and bred to reproduce.

Arcadia develops high-value food ingredients and nutritional oils that aim to meet demand for healthier diets. The company’s agricultural traits are developed to allow farmers to be more productive and minimize the impact of agriculture on the environment.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Thu, 28 Feb 2019 08:05:00 -0500 https://www.proactiveinvestors.com/companies/news/215528/arcadia-biosciences-shares-soar-on-move-into-cannabis-business-215528.html
<![CDATA[News - Arcadia Biosciences’ GoodWheat™ supply chain expands to two hemispheres ]]> https://www.proactiveinvestors.com/companies/news/214182/arcadia-biosciences-goodwheat-supply-chain-expands-to-two-hemispheres-214182.html Arcadia Biosciences Inc (NASDAQ:RKDA) said Thursday that it is tapping Grant Aldridge as the company’s new head of commercial development in a bid to move forward with the development of its supply chain as it advances its GoodWheat™ portfolio of non-GMO wheat ingredients. 

A key focus for California-based Arcadia Biosciences is wheat, which accounts for roughly 25% of the almost 2,000 calories per day that an average person consumes. Despite its dietary importance, it is a crop that hasn’t benefited from a lot of modernization over the past 75 years, according to Arcadia.

Therefore, up first on Arcadia’s agenda is selling its GoodWheat™ portfolio of wheat flour ingredients, which include reduced gluten, high-fiber, and better tasting whole wheat with a longer shelf life. The company developed all of these products using its proprietary TILLING technology, a screening technology that identifies natural variation in plants and that’s non-GMO.

Since mid-2018, Arcadia has significantly expanded its grower base for unique GoodWheat varieties to provide adequate supply for its consumer and animal feed customers. The company said it just completed counter-season planting of GoodWheat, which will increase seed inventory available for Arcadia’s grower partners.

READ: Arcadia Biosciences blossoms into a health-conscious ingredients company

“In 2019, the company plans to expand acres in the southern hemisphere which will expedite supply through a two-hemisphere production cycle and will increase access to key markets for the commercial adoption of GoodWheat,” said the company.

The push is being driven by Aldridge, a crop production agriculture expert who brings over 25 years of agribusiness experience to Arcadia. Aldridge has served leadership roles in several major agriculture and biotechnology companies, executing new market models for high-value traits in corn, soybeans, melons and novel industrial crops. He has a track record of success in every aspect of commercialization, from research and product development to commercial operations like sales, marketing and crop production management. Aldridge has a master’s degree in plant genetics and breeding from Purdue University.

“These supply chain advancements demonstrate our commitment to bringing our GoodWheat™ portfolio to market, enabling consumers to improve nutrition by eating foods they love,” said Arcadia Biosciences CEO Raj Ketkar. “Grant is an excellent addition to our team, and he adds the level of expertise and proven experience that will help us successfully launch GoodWheat.”

Aldridge said that he was “impressed” that Arcadia was driving tangible innovation in wheat, a crop that has “seen limited innovation over the past 75 years. “With the GoodWheat™ product portfolio, we will enhance value throughout the supply chain, allowing growers to capture more value on the farm, consumer packaged goods companies to differentiate their brands in the marketplace, and consumers to get the nutrients they need by eating foods they enjoy.”

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 07 Feb 2019 07:49:00 -0500 https://www.proactiveinvestors.com/companies/news/214182/arcadia-biosciences-goodwheat-supply-chain-expands-to-two-hemispheres-214182.html
<![CDATA[Media files - Arcadia Biosciences announces end of patent lawsuit against Arista Cereal Technologies ]]> https://www.proactiveinvestors.com/companies/stocktube/11839/arcadia-biosciences-announces-end-of-patent-lawsuit-against-arista-cereal-technologies-11839.html Mon, 14 Jan 2019 15:16:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11839/arcadia-biosciences-announces-end-of-patent-lawsuit-against-arista-cereal-technologies-11839.html <![CDATA[News - Arcadia Biosciences announces end to lawsuit against Arista Cereal Technologies in New York court ]]> https://www.proactiveinvestors.com/companies/news/212508/arcadia-biosciences-announces-end-to-lawsuit-against-arista-cereal-technologies-in-new-york-court-212508.html Arcadia Biosciences Inc (NASDAQ:RKDA) announced Monday that its lawsuit against Arista Cereal Technologies filed in the US District Court for the Southern District of New York has ended due to a jurisdictional decision by the court.

The lawsuit was seeking to correct the rights to inventorship on key patents for Arista’s high-amylose wheat.

In a statement, Raj Ketkar, Arcadia’s CEO, said the bulk of Arcadia’s GoodWheat portfolio would be unaffected by the dispute with Arista and said the company would continue to pursue efforts to defend its intellectual property.

READ: Arcadia Biosciences blossoms into a health-conscious ingredients company

“The vast majority of our GoodWheat portfolio as well as the overall target market for our wheat, soy and other nutrition and ingredient products is unaffected by our dispute with Arista. Our global commercialization plans for those products remain on track, with first sales expected this year,” Ketkar said.

“We remain committed to defending our intellectual property, however, and are still pursuing other avenues to protect our technology,” he added.

 Arcadia’s GoodWheat platform is a portfolio of novel non-GM wheat varieties including high fiber resistant starch (RS), reduced gluten and others. These varieties have been bred using Arcadia’s non-GM TILLING platform and can be delivered as organic or conventional wheat.

READ: Arcadia posts a 3Q profit due to accounting windfall and crushes Wall Street's revenue estimate

In other news, Arcadia recently announced a key partnership with Ardent Mills, the largest wheat milling company in the US, to develop and commercialize innovative wheat trait improvements. The first project focuses on extending the shelf life and improving the taste of whole wheat products in a bid to drive the increased consumption of fiber.

“The global wheat flour market is forecasted to reach $200 billion by 2022, and we remain convinced that it can be served by many different technical approaches,” said Ketkar in a statement. “We’re excited about the science behind GoodWheat and about the partnerships with farmers and food companies working with us to bring these innovations to tables around the world.”

Based in Davis, California, Arcadia develops high-value food ingredients and nutritional oils that aim to meet demand for healthier diets. The company’s agricultural traits are being developed to allow farmers to be more productive.

Arcadia Biosciences shares slipped 2.16% to close at $3.62 on Friday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Mon, 14 Jan 2019 07:57:00 -0500 https://www.proactiveinvestors.com/companies/news/212508/arcadia-biosciences-announces-end-to-lawsuit-against-arista-cereal-technologies-in-new-york-court-212508.html
<![CDATA[News - Arcadia Biosciences blossoms into a health-conscious ingredients company ]]> https://www.proactiveinvestors.com/companies/news/210995/arcadia-biosciences-blossoms-into-a-health-conscious-ingredients-company-210995.html Better tasting whole wheat. Wheat with more nutrients and lower allergenic gluten.

Those are some of the foods from Arcadia Biosciences (NASDAQ:RKDA) of Davis, California, that could soon be in your shopping cart.

READ: Arcadia Biosciences CEO offers time line for getting new products to market

Set up in 2002 as a research and development company engaged in pioneering research on crop improvement, Arcadia Biosciences is undergoing a transformation. It no longer wants to be known exclusively as a provider of new genetic traits which protect crop yields, that are licensed to seed companies.

Arcadia has morphed into a health and nutrition food-ingredients company that is already working with food companies around the world to test its new ingredients and will see its first sales in the next year to 18 months.

“We have undergone a transformation over the next 12 to18 months from a crop trait provider to a company that is focused on developing and commercializing health and nutrition ingredients,” explains Arcadia CEO Raj Ketkar.

Wheat in the spotlight

A key focus for the company is wheat, which accounts for roughly 25% of the almost 2,000 calories per day that an average person consumes. Despite its dietary importance, it’s a crop that hasn’t benefited from a lot of modernization over the past 75 years, according to Arcadia. The reason being that commercial hybrid wheat doesn’t exist. Also, farmers tend to save seed from last year’s crop, so they don’t buy new seed every year. In short, there hasn’t been much incentive for seed companies to invest in innovation.

But Ketkar, who spent 30 years in senior jobs at the agricultural biotech powerhouse Monsanto, is looking to change this.

“What we have done is really improved the key characteristics of the crop to bring products that will improve the health and nutrition of people who are consuming wheat,” says Ketkar. “Wheat is a key crop for us. We have been really focused on bringing wheat quality traits to the market.”

Sales of GoodWheat portfolio are pivotal

Up first on Arcadia’s agenda is selling its GoodWheat™ portfolio of wheat flour ingredients, which include reduced gluten, high-fiber, and better tasting whole wheat with a longer shelf life.  The company developed all of these products using its proprietary TILLING technology, a screening technology that identifies natural variation in plants and that’s non-GMO.

The GoodWheat high-fiber wheat line, for example, offers the benefits of high-fiber without the need to add an extra source of fiber in the form of corn starch or another additive. “It’s a cleaner label, food companies don’t have to add any type of fiber ingredients to call it high fiber, it’s in the wheat,” adds Ketkar. “And consumers get the benefits of high fiber for managing obesity or managing diabetes.”

The company’s other advances include a reduced gluten line that delivers a host of nutritional benefits. It’s also in the final stages of testing other useful traits but is keeping details about those products under wraps as it first must secure the necessary intellectual property to protect their arrival on the market.

Over 192 patents held

The company already has secured patents for its high-fiber wheat, its reduced gluten-wheat and its extended-shelf-life wheat and controls another 192 patents as well.

Arcadia is also in various stages of recipe testing with at least 10 companies around the world that are interested in its GoodWheat portfolio. Some are food companies that would be using the wheat to make end products to put on the grocery shelf. Others are ingredient and milling companies that are interested in offering Arcadia’s traits in their flour.

Tie-up with Ardent Mills

Arcadia recently announced it will partner with Ardent Mills LLC, the largest wheat milling company in the US, to develop and bring new wheat varieties to the market.

The first step of the collaboration between the companies will focus on extending the shelf life and improving the flavor of Ardent’s whole-wheat products.

Using patented Arcadia trait technology, the storage life of whole wheat flour can be extended by slowing the enzymatic processes that reduce shelf life. Because milled flour from wheat carrying Arcadia trait technology oxidizes more slowly, it cuts down on the bitterness associated with whole-wheat products.

By Ketkar’s estimates, markets for flour are worth well over $200 billion a year globally. Arcadia is targeting segments totaling about $1.5 billion. “That’s not our revenue tomorrow,” says Ketkar. “That’s a target market for all these traits put together.”

Royalty payments expected

The expectation is that Arcadia will collect a tidy stream of royalties when GoodWheat traits are sold to seed companies and when GoodWheat ingredients are sold to the big consumer product groups. Indeed, revenue from trait royalties could hit $20 million to $40 million per year while revenue from ingredient sales could reach $215 million to $325 million.

On top of its advances on the wheat front, Arcadia is also nearing the commercial launch of its HB4 soybeans, which are being produced in Argentina as part of its Verdeca joint venture with Bioceres, that country’s predominant agriculture technology company.

Arcadia recently received approval from Argentina’s regulatory authorities for its HB4 drought-resistant soybeans stacked with herbicide-tolerant traits. The novel traits help Argentine soybean farmers by protecting yields under stressful climatic conditions without dispensing with weed control.

Novel breed of tomatoes set to see first sales

Finally, the extended-shelf-life tomatoes, which were first developed by Arcadia and licensed to Shriram Bioseed, a private seed company in India, are also likely to see their first sales by the end of next year. Arcadia will receive milestone payments and royalties on the sales of its tomato seed, according to its agreement with Bioseed.

Armed with a battery of patents and still on the hunt for additional ones, many of the team of 50 employees at Arcadia’s facilities in Davis, California, which includes laboratories and greenhouses, are still immersed in the science of food ingredient design.

“More than half of our people are involved in some phase of research or development,” says Ketkar. “We do field trials around the US and around the world. Between our own staff and working with partners, we have a pretty wide reach.”

Finances in focus

In its most recent quarter, Arcadia’s net income hit $4.5 million, swinging from a loss of $4.5 million in the corresponding period last year due to one-time accounting items. Despite a slowdown in funding from government contracts, its revenue, meanwhile, amounted to $370,000, which came in ahead of estimates. As of September, the company was sitting on cash of $24.6 million and had no debt while its average quarterly cash burn (for the prior four quarters) totaled $3.6 million.

“Our goal is to commercialize our products next year and drive towards profitability as quickly as we can,” notes Ketkar. “We have a good cash runway now.”

Ketkar also points out that Arcadia faces “very little” competition in developing its own varieties of healthy traits as the big agricultural science companies like Syngenta and Bayer’s efforts are focused elsewhere.

“When a food company adds a cornstarch to their high-fiber pasta, potentially they could use our wheat and get that same benefit,” Ketkar concludes.  “Nutrition is a real concern of consumers and a real concern for food companies.”

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 11 Dec 2018 13:26:00 -0500 https://www.proactiveinvestors.com/companies/news/210995/arcadia-biosciences-blossoms-into-a-health-conscious-ingredients-company-210995.html
<![CDATA[News - Arcadia Biosciences CEO offers time line for getting new products to market ]]> https://www.proactiveinvestors.com/companies/news/209026/arcadia-biosciences-ceo-offers-time-line-for-getting-new-products-to-market-209026.html Raj Ketkar, CEO of Arcadia Biosciences Inc (NASDAQ:RKDA) forecasts that three of the agricultural food ingredient company’s designed products will see their first sales in the next year to 18 months.

These crops include the company’s GoodWheat portfolio of improved wheat quality products in the Americas, HB4 Drought Tolerant Soybeans in Argentina and extended shelf life tomatoes by Shriram Bioseed in India.

“After years of development, we are excited and motivated to bring these products to our customers and are taking all the steps necessary to successfully launch these products,” said Ketkar while speaking on a call last week to discuss Arcadia’s third-quarter results.

Up first on Arcadia's agenda is its GoodWheat portfolio of non-GM wheat ingredients,which includes resistant starch or high-fiber wheat products, reduced gluten what products and other new traits under development. All of the GoodWheat products will be available in various classes of wheat, such as hard red spring, hard red winter and durum wheat.

“The number of prospective food companies testing or evaluating our GoodWheat expanded during the third quarter representing future distribution and sales into various geographies,” explained Ketkar on the call.

“Although exact timing to closure is difficult to predict, we are confident we will secure partners in two or three of these geographies over the next few quarters,” he added.

HB4 Soybeans are also nearing commercialization

Arcadia has also made considerable advances towards the commercial launch of its HB4 soybeans, which are being produced in Argentina as part of its joint venture with Bioceres Verdeca. Early in the fourth quarter, Arcadia received approval from Argentina’s regulatory authorities for the approval of HB4 drought tolerant soybeans stacked with herbicide tolerant traits.  The novel traits will help Argentinian soybean farmers by protecting yields under stressful climactic conditions without dispensing with weed control.

Arcadia is in the process of completing the dossier for the regulatory approval of its new variety of soybeans in Europe, which marks a major step in its progress towards commercialization of HB4 technology. It is also awaiting approvals from the US Department of Agriculture and from China for import approval of soybeans.

Once the required approvals are granted, the company expects to launch HB4 drought tolerant soybeans in Argentina.

Extended shelf-life tomatoes are set to hit market by end of 2019

Lastly, in another advance, the extended shelf life tomatoes, which were first developed by Arcadia and licensed to Shrirarm Bioseed, a private seed company in India, are also likely to see their first sales by the end of next year.

After years of breeding and development, Bioseed is set to introduce the technology that spawns the extended-shelf life tomatoes to farmers and the first sales are expected by the end of next year.

The technology allows the tomatoes to ripen on the vine before they’re picked, and the fruit retains its firmness during the picking, handling and transportation to market.

Arcadia will receive milestone payments and royalties on the sales of tomato seed, according to its agreement with Bioseed.

New revenue streams likely over the next 12 to 36 months

Speaking on the same call, Arcadia CFO Matt Plavan said the introduction of the company’s new nutritional ingredient products like GoodWheat and its advances in pushing to bring HB4 soybeans to market, would spark the onset and scaleup of revenues over the next 12 to 36 months.

The new revenues will be characterized as product sales or trait fees, depending on the arrangements with customers, according to Plavan.

With its new focus on bringing in revenues from products sales, Plavan said it was no longer strategically relevant for Arcadia to continue pursuing new contract research and government grant projects at the levels it has historically.  “And we expect these revenues to be lower this year, as our current contract research agreements and government grant projects conclude and/or are not replaced,” Plavan explained on the call.

Arcadia also recently announced that it will partner with Ardent Mills LLC, the largest wheat milling company in the US, to develop and commercialize new wheat varieties.

READ: Arcadia Biosciences teams up with Ardent Mills to develop and bring new wheat varieties to market

The first leg of the collaboration between the companies will focus on extending the shelf life and improving the flavor of whole-wheat products.

Using patented Arcadia trait technology, the storage life of whole wheat flour can be extended by slowing the enzymatic processes that reduce shelf life. Because milled flour from wheat carrying Arcadia’s trait technology oxidizes more slowly, it cuts down on the bitterness associated with most whole wheat products. Arcadia has received a US patent for this extended shelf life wheat.

“For a number of reasons, this is a very exciting milestone achievement,” said Ketkar on the call. “The project with Ardent Mills introduces this trait designed to extend whole wheat shelf life by slowing the enzymatic processes that produce bitterness in most whole-wheat products.”

Based in Davis, California, Arcadia develops high-value food ingredients and nutritional oils that aim to meet demand for healthier diets. The company’s agricultural traits are being developed to enable farmers to be more productive and minimize the impact of agriculture on the environment.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Tue, 13 Nov 2018 08:33:00 -0500 https://www.proactiveinvestors.com/companies/news/209026/arcadia-biosciences-ceo-offers-time-line-for-getting-new-products-to-market-209026.html
<![CDATA[Media files - Arcadia Biosciences partners with Ardent Mills, releases 3Q earnings highlights ]]> https://www.proactiveinvestors.com/companies/stocktube/11145/arcadia-biosciences-partners-with-ardent-mills-releases-3q-earnings-highlights-11145.html Thu, 08 Nov 2018 15:32:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11145/arcadia-biosciences-partners-with-ardent-mills-releases-3q-earnings-highlights-11145.html <![CDATA[News - Arcadia posts a 3Q profit due to accounting windfall and crushes Wall Street's revenue estimate ]]> https://www.proactiveinvestors.com/companies/news/208778/arcadia-posts-a-3q-profit-due-to-accounting-windfall-and-crushes-wall-street-s-revenue-estimate-208778.html Arcadia Biosciences Inc (NASDAQ;RKDA) swung to a profit in the third quarter as it pushed ahead with its collaboration with Ardent Mills, the largest wheat milling company in the US, and reported other significant business advances.

In the three months ended September 30, the agricultural food ingredient company’s net income hit $4.5 million, swinging from a loss of $4.5 million in the corresponding period last year. The jump in profits was due to one-time items.

Revenue, meanwhile, came in at $370,000, which handily beat Wall Street analysts’ consensus estimate of $260,000, but fell from the year-ago quarter when it reported revenues of $589,000 due to the wrapping up of government grants in 2017.

Over the next 12 to 36 months, as Arcadia focuses more on health and nutritional products, the Davis, California-based company expects revenue from government grants, research contracts and license revenues to be replaced by product and trait revenues.

In a statement, Raj Ketkar, president and CEO of Arcadia, said the company is positioned to commercialize its wheat products portfolio thanks to its collaboration with the wheat milling company Ardent Mills.

READ: Arcadia Biosciences teams up with Ardent Mills to develop and bring new wheat varieties to market

The first leg of the partnership between the two companies will focus on extending the shelf life and improving the flavor of whole-wheat products.

Using patented Arcadia trait technology, the storage life of Ardent Mills’ whole wheat flour can be extended by slowing the enzymatic processes that reduce shelf life. Because milled flour from wheat carrying Arcadia’s trait technology oxidizes more slowly, it cuts down on the bitterness associated with most whole wheat products.

Arcadia plans to launch up to three different traits in three crops around the globe over the next 12 to 18 months, “driving value for consumers, growers, food manufacturers and Arcadia investors,” said Ketkar.

Milestones met

Arcadia’s achievements in the quarter were varied. In the late third quarter and early fourth-quarter, Arcadia completed its 2018 GoodWheat Harvest, featuring the scale-up of Resistant Starch GoodWheat and the first field production of its Reduced Gluten variety.

It also reached a milestone in its latest quarter with its partner Shriram Bioseed in India, which is breeding its extended-shelf-life tomatoes. Its non-GMO trait allows tomatoes to fully ripen on the vine yet remain durable enough to survive the packing and shipping process, which cuts back on post-harvest damage and costly waste. Field trial results over multiple seasons show improvements in field yield, firmness, shelf life and color development.

The new hybrid tomatoes are in the testing phase and Shriram Bioseed expects to launch them next year.

In another advance, Verdeca, a joint venture between Arcadia and Bioceres SA, recently received approval in Argentina for its HB4 drought-tolerant trait stacked with herbicide-tolerant traits in soybeans. The novel traits will help Argentinian soybean farmers by protecting yields under stressful climatic conditions, without dispensing with weed control.

READ: Arcadia Biosciences’ joint venture Verdeca wins approval from Argentina for drought-resistant, herbicide-tolerant soybean

“This expands the market for HB4 technology in South America and will enable increased field testing and seed production in Argentina,” Arcadia said in its press release.

Based in Davis, California, Arcadia develops high-value food ingredients and nutritional oils that aim to meet demand for healthier diets. The company’s agricultural traits are being developed to enable farmers to be more productive and minimize the impact of agriculture on the environment.

Arcadia shares slipped 5.8% in Wednesday’s after-hours trading session to $4.05.

 

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Wed, 07 Nov 2018 16:49:00 -0500 https://www.proactiveinvestors.com/companies/news/208778/arcadia-posts-a-3q-profit-due-to-accounting-windfall-and-crushes-wall-street-s-revenue-estimate-208778.html
<![CDATA[News - Arcadia Biosciences teams up with Ardent Mills to develop and bring new wheat varieties to market ]]> https://www.proactiveinvestors.com/companies/news/208638/arcadia-biosciences-teams-up-with-ardent-mills-to-develop-and-bring-new-wheat-varieties-to-market-208638.html Agricultural food ingredient company Arcadia Biosciences Inc (NASDAQ:RKDA) announced Tuesday that it will partner with Ardent Mills LLC, a flour-milling company, to develop and commercialize new wheat varieties.

The first leg of the collaboration between the two companies will focus on extending the shelf life and improving the flavor of whole-wheat products.

Using patented Arcadia trait technology, the storage life of whole wheat flour can be extended by slowing the enzymatic processes that reduce shelf life. Because milled flour from wheat carrying Arcadia’s trait technology oxidizes more slowly, it cuts down on the bitterness associated with most whole wheat products. As a result, Arcadia’s technology will help to improve the taste of Ardent’s whole wheat products and also help reduce waste.

READ: Arcadia Biosciences’ joint venture Verdeca wins approval from Argentina for drought-resistant, herbicide-tolerant soybean

“As the leading flour supplier and grain innovator in North America, Ardent Mills is the ideal partner to bring this technology to the market,” said Raj Ketkar, Arcadia’s president and CEO in a statement.

“Wheat is an important source of fiber, protein, nutrients and minerals for customers throughout the world, and these creative approaches to improving the functional properties of wheat can have a significant impact on the future of whole grain consumption,” Ketkar added.

Ardent Mills CEO Dan Dye, is similarly bullish on the tie-up. “We see this trait as a big and important step forward that will benefit bakers, food manufacturers, the food service industry and ultimately consumers,” Dye said.

The Extended Shelf Life wheat trait, which is a non-genetically modified organism (non-GMO), was developed using Arcadia’s extensive library of wheat lines which vary by genetic composition and gene function.

Because it is a non-GMO trait, it holds considerable potential to be applied across conventional and organic farming practices.

Arcadia scientists create thousands of wheat plants each with unique genetics. From this library, Arcadia scientists select examples demonstrating desired traits like extended shelf-life or other characteristics. The genome is mapped, the target genes are identified, and the trait is isolated.  

Based in Davis, California, Arcadia develops high-value food ingredients and nutritional oils that aim to meet demand for healthier diets. The company’s agricultural traits are being developed to enable farmers to be more productive and minimize the impact of agriculture on the environment.

Arcadia shares we up 7.5% $4.62 in trading right after the bell Tuesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 06 Nov 2018 09:13:00 -0500 https://www.proactiveinvestors.com/companies/news/208638/arcadia-biosciences-teams-up-with-ardent-mills-to-develop-and-bring-new-wheat-varieties-to-market-208638.html
<![CDATA[Media files - Arcadia Biosciences joint venture Verdeca gets important approval from Argentina for its HB4 soybeans ]]> https://www.proactiveinvestors.com/companies/stocktube/11049/arcadia-biosciences-joint-venture-verdeca-gets-important-approval-from-argentina-for-its-hb4-soybeans-11049.html Tue, 30 Oct 2018 13:36:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/11049/arcadia-biosciences-joint-venture-verdeca-gets-important-approval-from-argentina-for-its-hb4-soybeans-11049.html <![CDATA[News - Arcadia Biosciences’ joint venture Verdeca wins approval from Argentina for drought-resistant, herbicide-tolerant soybean ]]> https://www.proactiveinvestors.com/companies/news/208031/arcadia-biosciences-joint-venture-verdeca-wins-approval-from-argentina-for-drought-resistant-herbicide-tolerant-soybean-208031.html California-based Arcadia Biosciences Inc (Nasdaq:RKDA) and Bioceres S.A., through their joint venture Verdeca, announced Monday that they had received approval from Argentina for the introduction of HB4 drought-resistant, herbicide-tolerant soybeans that deliver compelling yield increases despite dry spells.

The crop presents clear commercial possibilities in agro-industrial production in the face of climate change. The introduction marks the first step in commercializing the HB4 trait, which is the result of multiple years of research and development, both in Argentina and the United States. The company said that the approval allows Verdeca to incorporate “tolerance to both glyphosate and glufosinate-ammonium into the trait.”

The soybeans provide a real advantage for producers by reducing yield losses, without dispensing with options for weed control.

“This novel trait stack will enable soybean growers to protect yields under stressful climatic conditions while allowing low-cost, weed-free production,” said Verdeca general manager Martin Mariani Ventura.

“The approval of this trait stack is another significant step for the successful commercialization of HB4 technology in Argentina,” added Ventura.

Argentina’s Secretariat of Food and Bioeconomy evaluated the food, feed, environment and commercial impact of the stacked traits and approved them for deregulation contingent upon trade approval by China, the world's biggest importer of soybeans.

The HB4 herbicide-tolerant trait stack is Verdeca’s newest release from its pipeline of traits developed to benefit soybean producers.

READ: Shares of Arcadia Biosciences climb after partnership with Farmer’s Business Network

Argentina, is the world’s third biggest soy producer, and is the world’s top exporter of soymeal and soy oil.  

Positive results for HB4 technology have been demonstrated in numerous field trials in major soybean cultivation regions in South America and the United States. The technology is currently being bred into elite soybean varieties by Verdeca’s seed company partners, as it prepares for the commercial launch of HB4 in 2019, pending regulatory approval in China.

Verdeca’s HB4 trait has already been approved in Argentina and by the US Food & Drug Administration. Regulatory submissions are currently under consideration by the US Department of Agriculture, as well as in China, Brazil, Paraguay and Uruguay. Commercial launch of the HB4 trait is contingent upon China’s regulatory approval, which is expected by the end of 2019. 

Arcadia Biosciences and Bioceres formed Verdeca as a joint venture in 2012 to provide technologies and traits that boost soybean production in South America and North America, which together represent 80% of the harvested soybean acres globally.

Arcadia Biosciences develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. The company’s agricultural traits are being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Mon, 29 Oct 2018 08:23:00 -0400 https://www.proactiveinvestors.com/companies/news/208031/arcadia-biosciences-joint-venture-verdeca-wins-approval-from-argentina-for-drought-resistant-herbicide-tolerant-soybean-208031.html
<![CDATA[News - Arcadia Biosciences gets US patent for wheat with extended shelf life ]]> https://www.proactiveinvestors.com/companies/news/207090/arcadia-biosciences-gets-us-patent-for-wheat-with-extended-shelf-life-207090.html Arcadia Biosciences Inc (NASDAQ:RKDA) announced on Monday they have received a US patent for a trait in wheat that extends the storage life of whole wheat flour by minimizing oxidation.

The new trait was designed to promote wheat consumption by improving the taste of whole grain wheat products, the company said in a statement. 

Raj Ketkar, president and CEO of Arcadia said should help consumers and food companies "drive the adoption of whole wheat."

By production, wheat is the third-biggest crop harvested in the world behind corn and milled rice. The US is the fourth biggest producer in the world of wheat, according to US government data.

Shares of Arcadia were up 13.65% in the Monday premarket to $5.66, having settled on Friday 1.97% lower at $4.98.

READ: Arcadia Biosciences nears commercialization of its new wheat-based products

The US patent expands Arcadia's global patent portfolio, which includes more than 195 patents and patent applications that are owned or controlled by the company.

Arcadia Biosciences develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet.  

Reporting by Rene Pastor, contactable on rene.pastor@proactiveinvestors.com

 

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Mon, 15 Oct 2018 08:25:00 -0400 https://www.proactiveinvestors.com/companies/news/207090/arcadia-biosciences-gets-us-patent-for-wheat-with-extended-shelf-life-207090.html
<![CDATA[Media files - Arcadia Biosciences nears commercialization of its new wheat-based products ]]> https://www.proactiveinvestors.com/companies/stocktube/10352/arcadia-biosciences-nears-commercialization-of-its-new-wheat-based-products-10352.html Wed, 05 Sep 2018 11:01:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10352/arcadia-biosciences-nears-commercialization-of-its-new-wheat-based-products-10352.html <![CDATA[News - Small-Cap Snapshot: Comstock Mining shares climb on progress in Dayton gold and silver mining project ]]> https://www.proactiveinvestors.com/companies/news/201172/small-cap-snapshot-comstock-mining-shares-climb-on-progress-in-dayton-gold-and-silver-mining-project-201172.html Comstock Mining Inc (NYSEAMERICAN:LODE) shares climbed after the company announced progress in advancing its Dayton project, which contains the miner’s second-largest gold and silver mineral resource. The company has drilled 408 shallow holes totaling 30,819 feet, identifying mineralized structures covered by shallow alluvium that meaningfully improve the geological mapping of the area. CEO Corrado De Gasperis said a preliminary economic assessment report is due in the fourth quarter of 2018 and will confirm the company’s bet on its sprawling Dayton resource.

Shares in the Virginia City, Nevada. miner climbed 9.3% to US$0.24 in morning trade.

Vical Inc (NASDAQ:VICL) shares climbed after it announced that its board of directors planned to explore a range of strategic options to enhance shareholder value. The company said there’s “no set timetable” for the review process and there is no assurance that it will, in fact, result in a transaction. The San Diego, California-based company which develops vaccines for the treatment of infectious diseases said it anticipates ending 2018 with US$40mln in cash. The company’s anti-fungal drug VL-2397, is currently in a Phase 2 clinical trial.

Vical stock was up 8.5% to US$1.31.

READ: Arcadia Biosciences shares rally after key milestone developing extended-shelf-life tomatoes

Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped after the agricultural food ingredient company and India’s Shriram Bioseed, a leading research and hybrid seed development company, announced the achievement of a key milestone in developing Extended Shelf Life (ESL) tomatoes. The new hybrid tomatoes are in the pre-commercial, field testing stage in different geographies with an anticipated launch in 2019. Arcadia’s ESL technology was developed in part under a U.S. Department of Defense contract to develop longer-lasting fresh produce for field troops stationed in remote places. Arcadia received a patent for the technology in 2014.

Arcadia stock shot up 20% to US$8.20 in morning trade.

Tile Shop Holdings Inc (NASDAQ:TTS) shares soared after the stone tile retailer posted second-quarter earnings that handily beat Wall Street estimates on strong revenue. For the quarter ended June 2018, the tile retailer posted earnings of US$0.10 per share on revenue of US$92.9mln. The results topped Wall Street expectations for earnings of US$0.09 per share on revenue of US$90.5mln. Revenue grew 3.9% on a year-over-year basis.

Shares in the Plymouth, Minnesota-based company climbed 9.04% to US$9.05.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 19 Jul 2018 11:45:00 -0400 https://www.proactiveinvestors.com/companies/news/201172/small-cap-snapshot-comstock-mining-shares-climb-on-progress-in-dayton-gold-and-silver-mining-project-201172.html
<![CDATA[News - Arcadia Biosciences shares rally after key milestone developing extended-shelf-life tomatoes ]]> https://www.proactiveinvestors.com/companies/news/201152/arcadia-biosciences-shares-rally-after-key-milestone-developing-extended-shelf-life-tomatoes-201152.html Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped Thursday in pre-market trade after the agricultural food ingredient company and India’s Shriram Bioseed, a leading research and hybrid seed development company, announced the achievement of a key milestone in developing Extended Shelf Life (ESL) tomatoes.

Bioseed has field tested Arcadia’s ESL technology in multiple tomato hybrid backgrounds in different geographies and seasons. The companies said significant and “consistent improvements in field yield and fruit quality,” such as firmness, shelf life and color, were observed.

The new hybrids are in the pre-commercial, field testing stage with an anticipated launch in 2019.

Arcadia stock shot up 18.5% to US$8.15 in premarket trade.

READ: Shares of Arcadia Biosciences climb after partnership with Farmer’s Business Network

“These new varieties will reduce waste and spoilage in the production cycle while ensuring that the produce is fully ripe, better tasting, and still fresh when it reaches consumers,” said Arcadia CEO Raj Ketkar. “This development is a significant commercial milestone in advancing Arcadia’s ESL tomato technology that adds value throughout the tomato supply chain, from farm to consumers.”

According to the US Environmental Protection Agency, in the US alone, food waste costs households an estimated US$166bn annually, and tomato food waste costs households US$2.3bn annually.

As the fourth-largest producer of tomatoes globally, India represents a significant market opportunity for ESL tomato technology.

“This trait is especially valuable in a country like India where fresh market tomatoes are mostly field grown and post-harvest handling and logistics are challenging,” said Paresh Verma, president of Bioseed Southeast Asia. “Besides reducing post-harvest losses, extended shelf life and improved field holding capacity of tomatoes will add tremendous value for farmers and other stakeholders in supply chain.”

Arcadia’s ESL technology was developed in part under a U.S. Department of Defense contract to develop longer-lasting fresh produce for field troops stationed in remote locations. Arcadia received a patent for the technology in 2014.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Thu, 19 Jul 2018 08:25:00 -0400 https://www.proactiveinvestors.com/companies/news/201152/arcadia-biosciences-shares-rally-after-key-milestone-developing-extended-shelf-life-tomatoes-201152.html
<![CDATA[News - Shares of Arcadia Biosciences climb after partnership with Farmer’s Business Network ]]> https://www.proactiveinvestors.com/companies/news/199699/shares-of-arcadia-biosciences-climb-after-partnership-with-farmers-business-network-199699.html Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped Wednesday in pre-market trade after the agricultural food ingredient company forged a partnership with Farmer’s Business Network Inc. to expand the grower base of Arcadia’s family of specialty wheat varieties, GoodWheat.

This new collaboration enables the Farmer’s Business Network Direct inputs platform to distribute Arcadia’s identity-preserved GoodWheat seeds to growers in its network, aiming to increase farmer profitability over commodity wheat.

Shares in Arcadia jumped over 17% to US$9.09 within minutes of the market opening.

“With their commitment to innovation and growing network of premier farmers, the FBN network is an ideal partner to help us build capacity for our specialty wheat varieties,” said Arcadia CEO Raj Ketkar.

“Arcadia’s GoodWheat branded ingredients will provide consumers with healthier choices in their favorite foods, and the high demand for these premium products will enable improved economics for wheat growers,” he added.

READ: Arcadia Biosciences climbs on favorable trial results using its 'input traits' to boost rice crop yields

Farmers Business Network is a social network for farmers that invites them to share their data, pool their know-how, and bargain more effectively for better pricing from third parties.

“This important partnership with Arcadia provides our members access to grow specialty, identity-preserved GoodWheat and enables them to earn a premium over commodity wheat,” said Farmers Business Network CEO Amol Deshpande. “Together, we are working to improve the economics of wheat production for farmers and bring wheat buyers a unique high-value crop.”

Arcadia Biosciences develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. The company has various programs under development comprising fiber resistant starch wheat, whole grain flour, and reduced gluten wheat programs. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Wed, 27 Jun 2018 09:27:00 -0400 https://www.proactiveinvestors.com/companies/news/199699/shares-of-arcadia-biosciences-climb-after-partnership-with-farmers-business-network-199699.html
<![CDATA[News - Arcadia Biosciences shares slump after organizing $14mln direct offering ]]> https://www.proactiveinvestors.com/companies/news/198722/arcadia-biosciences-shares-slump-after-organizing-14mln-direct-offering-198722.html Arcadia Biosciences Inc (Nasdaq: RKDA), an agricultural engineering company, is orchestrating a direct offering priced at the market.

It has entered into definitive agreements with several institutional investors for the purchase of 1,392,345 shares of its common stock at a purchase price per share of US$9.93. The deal will result in gross proceeds of about US$13.83mln.

In the wake of the announcement, Arcadia shares fell 9% to US$9.12 in early afternoon trade.

Based in Davis, California, Arcadia is an agricultural technology company that uses genetic engineering to increase farmers’ crop yields.

Arcadia hopes to use the money raised from the offering to scale up its GoodWheat Resistant Starch wheat production as well as to pay for its more general business needs.

Arcadia also agreed to issue to its investors unregistered warrants to purchase up to 1,392,345 shares of common stock, at a purchase price per warrant of US$0.125 for gross proceeds of about US$0.17m.

The closing of its offering is set to take place on June 14 and the deal will be subject to the usual closing conditions.

 

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Tue, 12 Jun 2018 11:49:00 -0400 https://www.proactiveinvestors.com/companies/news/198722/arcadia-biosciences-shares-slump-after-organizing-14mln-direct-offering-198722.html
<![CDATA[News - Arcadia Biosciences climbs on favorable trial results using its 'input traits' to boost rice crop yields ]]> https://www.proactiveinvestors.com/companies/news/196576/arcadia-biosciences-climbs-on-favorable-trial-results-using-its-input-traits-to-boost-rice-crop-yields-196576.html Arcadia Biosciences Inc. (NASDAQ:RKDA) climbed after the agricultural food ingredient company announced that field trials results from the past two crop seasons showed what it termed "significant yield gains in rice" with three of Arcadia’s proprietary input traits stacked together.

Shares of Arcadia were up around 10% in late-morning trading Tuesday, at US$10.25 a share.

In the trials, which were conducted at the International Center for Tropical Agriculture (CIAT) in Colombia, multiple rice lines carrying Arcadia Biosciences' nitrogen use efficiency (NUE), water use efficiency (WUE) and salinity tolerance (ST) traits "outperformed appropriate control lines by an average of 25% under limiting nitrogen applications, when measured for yield, with the lead line yielding up to 33% more."

Arcadia Biosciences said the same lines "yielded an average of 40% more than controls under combined limiting nitrogen and drought conditions in the field, with the lead line showing 50% higher yield under multiple abiotic stresses."

Previous field trials in California by Arcadia had shown the potential for stacking these traits in rice as a tool to safeguard food security, the company said, "and the recent data from CIAT confirms that there may be synergistic effects between traits that protect crops against various abiotic stresses."

"These results indicate Arcadia’s rice crop can offer a new strategy to preserve yield from potential loss due to climate change," the company said.

Raj Ketkar, Arcadia president and CEO, said the results also show "that our agricultural productivity traits hold significant promise to help farmers globally as they deal with the effects of a variety of challenging growing conditions, such as nutrient-deficient soil, drought and salinity, enabling them to increase yields and improve farm revenue."

Arcadia noted that rice is the world’s most valuable crop, with an annual harvest value of around US$340bn. Americans eat an average of 26 pounds of rice annually, while Asians consume 300 pounds per year per capita. Global rice production in 2017 was 837.3mln tons, grown on 399mln acres worldwide, roughly equivalent to the surface area of Iran, the 17th largest country in the world.

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Tue, 08 May 2018 10:55:00 -0400 https://www.proactiveinvestors.com/companies/news/196576/arcadia-biosciences-climbs-on-favorable-trial-results-using-its-input-traits-to-boost-rice-crop-yields-196576.html
<![CDATA[News - Arcadia Biosciences shares soar after announcing reduced-gluten products ]]> https://www.proactiveinvestors.com/companies/news/195180/arcadia-biosciences-shares-soar-after-announcing-reduced-gluten-products-195180.html Arcadia Biosciences, Inc. (NASDAQ:RKDA), an agricultural food ingredient company, announced plans to add its reduced-gluten wheat products to its GoodWheat portfolio.

Shares of the California-based company were up as high as 12% in pre-market action but scaled back to a more modest gain of about 1% to US$26.37 in intraday trading.

READ: Arcadia Biosciences trebles in value after successful development of high fiber resistant wheat

The U.S. National Institutes of Health’s Diabetes and Digestive and Kidney Disorders Institute granted the company a nearly US$2mln grant back in 2013 to develop grains for people with a gluten sensitivity.

The FDA estimates that around 3 million people in the US have celiac disease, which involves an immune reaction to gluten that causes inflammation in the lining of the small intestine.

“These proprietary wheat varieties, developed using advanced screening and plant breeding techniques, also give food processors an opportunity to differentiate their brands and create unique brand extensions,” said Raj Ketkar, CEO of Arcadia Biosciences, in a press statement.

Reduced-gluten bread wheat flour is expected to be available for commercial testing by the end of the year.

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Tue, 17 Apr 2018 10:43:00 -0400 https://www.proactiveinvestors.com/companies/news/195180/arcadia-biosciences-shares-soar-after-announcing-reduced-gluten-products-195180.html
<![CDATA[News - Arcadia Biosciences trebles in value after successful development of high fiber resistant wheat ]]> https://www.proactiveinvestors.com/companies/news/193186/arcadia-biosciences-trebles-in-value-after-successful-development-of-high-fiber-resistant-wheat-193186.html Agritech firm Arcadia Biosciences Inc (NASDAQ:RKDA) announced Wednesday it has achieved “two key milestones” in its high fiber resistant starch wheat program, sending shares more than three times higher.

The stock has been on a run for the past week and soared another 261% to U$42.19 late on Thursday afternoon.

Health benefits linked to resistant starch

California-based Arcadia said it has successfully developed a non-transgenic variety of wheat which contains up to 94% amylose – the highest levels available.

To give that some context, amylose is one of the two components of starch (the other being amylopectin), generally making up around 20-30% of the carbohydrate.

Starch with higher levels of amylose is often referred to as resistant starch though, which studies have suggested can deliver “significant health benefits”, such as stimulating blood flow to the colon and increasing nutrient circulation.

Despite being similar to fiber, nutrition labels rarely take resistant starch into account, but Arcadia thinks that might be about to change.

Enough dietary fiber to satisfy FDA regs

The high-amylose resistant starch which it has developed deliver high enough levels of fiber for products using it to carry the “Good Source” of fiber or “High in Fiber” designation on their packaging.

“These milestones are key achievements in the commercial launch plan for our non-GM wheat ingredients portfolio, delivering health benefits to consumers and distinct market differentiators to consumer packaged goods companies,” said president and chief executive Raj Ketkar.

“Arcadia’s new wheat varieties will allow people to enjoy the foods they love with the health benefits of resistant starch and dietary fiber, while satisfying consumer demand for clean-label, natural foods.”

Already working with partners

Arcadia is already working with a handful or consumer packaged goods companies on new, healthier formulations of existing products which use its wheat.

Companies are also experimenting with its resistant starch wheat to try to simplify their ingredient labels as it contains naturally high levels of fiber, meaning added fiber sources such as inulin and cellulose aren’t required.

The firm said it was preparing to plant more crops during the upcoming wheat growing season to help it cope with demand.

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Wed, 14 Mar 2018 15:43:00 -0400 https://www.proactiveinvestors.com/companies/news/193186/arcadia-biosciences-trebles-in-value-after-successful-development-of-high-fiber-resistant-wheat-193186.html