Yield10 Bioscience, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 15, 2023 at 01:44 am IST
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Yield10 Bioscience, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported revenue was USD 0.087 million compared to USD 0.152 million a year ago. Net loss was USD 3.3 million compared to USD 2.98 million a year ago. Basic loss per share from continuing operations was USD 0.67 compared to USD 0.61 a year ago. Diluted loss per share from continuing operations was USD 0.67 compared to USD 0.61 a year ago.
For the full year, the company reported revenue was USD 0.45 million compared to USD 0.614 million a year ago. Net loss was USD 13.57 million compared to USD 11.03 million a year ago. Basic loss per share from continuing operations was USD 2.76 compared to USD 2.33 a year ago. Diluted loss per share from continuing operations was USD 2.76 compared to USD 2.33 a year ago.
Yield10 Bioscience, Inc. is an agricultural bioscience company that is leveraging advanced genetics to develop the oilseed Camelina sativa (Camelina) as a platform crop for large-scale production of sustainable seed products. These seed products include feedstock oils for renewable diesel and sustainable aviation biofuels; omega-3 (EPA and DHA+EPA) oils for pharmaceutical, nutraceutical and aquafeed applications; and PHA bioplastics for use as biodegradable bioplastics. The Company is pursuing Camelina seed oil products for two market opportunities and value chains. The first product is seed oil produced by Camelina, which is genetically engineered to enable production of high levels of the omega-3 fatty acids eicosapentanoic acid (EPA) and docosahexanoic acid (DHA). The second product is Camelina seed oil for use as a low-carbon intensity feedstock oil for biofuels, including biodiesel, renewable diesel (RD) and sustainable aviation fuel (SAF).