YTEN - Earnings call transcript Q1 2019 | YIELD10 Bioscience, Inc.

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Operator

Greetings, and welcome to the First Quarter 2019 Financial Results and Business Update Conference Call for Yield10 Bioscience. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the conference call over to your host, Yield10 Vice President of Planning and Corporate Communications, Lynne Brum.

Lynne Brum

Thank you, Tim, and good afternoon, everyone. Welcome to Yield10 Bioscience First Quarter 2019 Conference Call.

call President the CEO, on me today and are Dr. Joining and Vice Officer, President Peoples; Chief of Oliver Research Science Dr. Kristi Snell; Haaser. Chuck and Chief Accounting Officer, Earlier its this released XXXX afternoon, results. financial first quarter YieldXX accompany as our the as Relations our of at section release This slides Investor presentation are available well today on yieldXXbio.com. website to to turn Please Slide X. part as of management that discussion note today, be will Please our making forward-looking statements. reliance guarantees of you place undue therefore, future should and not on performance, are statements These them. not forward-looking are Investors statements. are constitute cautioned strictly also that not statements historical that are differ Such number risks those statements a forward-looking subject the of and to cause could actual anticipated. uncertainties materially that results to from risks SEC, uncertainties including These detailed the most company's filings recent XX-K. with and risks the in include YieldXX's events or that after undertakes this call. date arise no conference circumstances of to the company forward-looking obligation reflect statements any may The to update in order

call Now to I'll turn the Oli. over

Oli Peoples

update our on thanks Thanks, provide platform, go and call our I questions. joining financials traits. over for our the the trials Lynne. call opportunities, of accomplishments. market will summarize field will on everyone, to business and our recent milestones afternoon, I overview before opening then for innovation provide and Kristi Good year the an and progress will today. key other an strategy XXXX then

global to created agriculture have industries. problem X, double if innovation security. Factory develop an or current a to feed production, and impact food meaningful yields, industry by Now Traits the YieldXX, let's genetic turn XXXX with green with apps traits to our Slide with company relation to growing on our bioscience on and food is the food expected our challenge high-value population, pressures inherent is industry of the platform. genetic Addressing agricultural agricultural global the Crop $X global to increased trillion land.

challenge revenue to Factory, robust portfolio provide address Factory is to Trait is opportunities Identify yield. by trait developing go our vast mission to testing time to time and the the discovery biotech. to build the from editing Factory, Factory insights to outcome, We trait yields product traits in new and of Trait is editing deployment crops. crops. could This targets to The valuable enables yield genome of unique enable of using technology published be increase Trait our pass the a our with approach. acceleration in efficient. to system Trait gene which period. scientists our technology novel for the platform in traits. for stands we numbers also key Ranking and and trials. Since least have in the of our designed to The crop main major Network a also novel, in small compared targets most Trait this platform, advanced inception A our believe Factory based for crops high-value a to options of that traits traits may GRAIN tools be the grain platform, illustrating yield achieve grain them them several the to have The on traits perfect the fundamental ag XXXX, accelerate historical tool and presented a Artificial The X-year industry. to our a yield at gains more and is gene core crops in work field We've identity enables Intelligence wide for traits of reported, primary field platform GRAIN, farmers. us advance development computational platform space, may in and traits range modeling to of possible lines Gene Our developed a into a

by million dominated and in Syngenta insect Revenue traits North combined estimated staple discuss soybean, to XX consolidated million the acres wheat which herbicides traits by crop these crop -- Turning American rice cotton cultivated sector food can on America. from X for markets not in the is over America to to the benefited three on and biotech The our pests stacked space. green input perfecting the input input now the and via white and traits North globally. ag million is American traits an yield the sector. working technology Slide seed sector stacked seed disruptive and We're canola. or U.S. seed corn, to of sector primarily in We North crops These providing with yet supply. is on acres yields seed raise can and majors consolidate These seed developed on biotech a three crops crops. seed ag in crops the And the hands the both and ag to these early about and the dominate be pipeline seed acres. represent and sativa traits signs, have of South in not majors resistance XXX have basis is

The other Last production used for Alfalfa perceptions we Alfalfa and sustainable improvements on We around by revenue and to crop these the sources be agriculture, Here industrial in able genome-editing year, farmers with using a preferences forage U.S. crops. North dairy feed align generated represent the additional of future of America. see food, million providing markets. livestock, crops an emerging new CRISPR part for billion Camelina XX and to in to such approaches and may as important combined $X.X crops value. consumer as sorghum focusing cows acres and biomass in the developing options becoming systems differentiated bring feed more and

sorghum. for revenues Genetics relationships engaging with develop in products we with number We other companies of working differentiated to Forage on are a with can them Based seed, YieldXX. inbound or are provide while feed to currently that generating food, inquiries, traits

emerging our a company. credibility phase ag turn value of the built and to as our creation. YieldXX time line We path innovation as and Now X on XXXX leading we to as and 'XX let's referred Slide to capabilities

such During increasing technologies commercial a to revenue-generating In partnership begin developing the XXXX, area. lead opportunities traits call Leveraging celebrated phase, of partnerships focusing Bioscience. major will of much had the traits our pipeline resources on through growing this corn, our commercial we what in food of was on beyond. of we our are emphasis enabled developing we has and second soybean, and crops to start traits wheat in XXXX, January, in rice to XX developing niche a third-party generate us as harvest key and crop in into points. as At more us our the broadly. specialty of for phase transition work YieldXX XX, the there rich commercial anniversary XXXX Success over canola, and XXXX, -- we made deploying development, the have in crops traits in and

turn now X revenue. to potential to to review paths developed multiple Let's our Slide strategy; commercial we have

with targets. payments crops, we was proprietary Factory The our in we've crops. the Forage Year license we path sorghum, during For CXXXX before is these specialty been we're new have and applicable working with leverage fees next licensed will with to on broadly majors. This in and in a germplasm through to working in opportunities. in the enroll YieldXX's milestone are in Genetics of food, and ag is addition companies resources. several from of executed revenue capabilities to niche range much potential development business their Bayer/Monsanto the using sales. to of player provide accelerating ag North participation traits upfront unique agreements their type in with is royalties American feed, in major new commodity contracted elite soybean, ago unique capabilities deploy working to with kick in and ag majors They development include expected our Trait us where are medical sources to traits or industrial traits commercial a Commercial licensing corn. major wide several

partnership where innovation crop been platform has increasing our platform, This activity technology can and development on we accelerate path revenue third activities based genes commercial have improvement. the Here business involves predict and exploring the our gene for -- combinations to steadily to the been we GRAIN opportunities.

believe will us. we surprising, heard word platform of area increased Going of an partnerships a range this a as not of GRAIN times, several broad to array address can to have for focus be traits is crops. the in you now forward, the used wide By

Now team has X. the to to A made already Slide accomplishments. I'm turn summary report XXXX. progress let's pleased of in our solid recent

crops. to First trait. and the to oilseed CXXXX We several of bulk-up, completed Trials and support evaluate the permitting XXXX in traits Field our contract seed initiation

process. canola tests growing field CXXXX a conduct our commercial activity will of key the in from generate part multiple yield part as data to second-generation of We seasons, development of

in increases is soybean. in provide reported Work and with and We to The CXXXX up bidders producing control XXXX, to this underway fund the gene activities, containing in canola introduce and work of lines time own the best trait, grew during the seed tested compared fields first as lines CXXXX continue CXXXX to in -- Camelina corn. our be plants something plants. year. to Camelina Camelina the the will the These CXXXX to vigorously, CXXXX CXXXX more will develop and support to to yield plants CXXXX surprising exciting we for XX% the soybean

and is to the quarter, oil is through arrangement. The the of yield received U.S. University first of of have seed a covering be results used field Missouri our remarks, this the more initiated CRISPR-edited produced CXXXX will In traits; is to in the progressed Oil already as first of the crop our Field these Yesterday, technology fee-for-service of program oilseed that the we our team In in report the program. value CXXXX flow in early we business, Camelina oils. boosting are oil-content traits announced we Test States. on U.S. highest and perhaps in-license work technical trait. crops. plan Our CXXXX first corn, in CXXXX negative to as use our Notice carbon now several field the the pleased development initial seed will seed out R&D in a traits canola regulators provide CXXXX earlier Office evaluate Canola our already the sector far canola. expectations, with production add Corn from small And in often major and program to the team produce edible a increased line proceeding in that in Camelina. to to has XXXX. we in developed little deregulation Patents; Patent In R&D traits to trials yield lines, we from be has additional year of Allowance and in increased content color in I'm Kristi CRISPR XXXX. CXXXX the to on revenues. United the by the additional will the carried in crops. tests edits a

perhaps surprising as carbon So flow metabolic increase CXXXX of and relicensed IP new the the on deregulating last to a not year. also This products that crop pathway since IP complements oils. such edible

XXXX, our off progress the to over key crops. in And I'll we're on with a of strong update to start an Kristi on in focused corporate Kristi? now for executing milestones. So turn call traits key the that, advancing development our

Kristi Snell

Thanks, some XXXX. Oli, will of presentation pipeline advancements the for recent everyone. plans and describe I hello, and In trait my today, our our in

of Let's multiple to the Since of ability and have the applicable novel efficiency gene now GRAIN start ways to turn versions the more discovery we of to in platform of Slide as pipeline We crops. seed. plant improve to use to as of identify these a as over photosynthesis all developed carbon to XXXX, the early our well direct XX YieldXX X. traits, are our

to on could Our crops. genome Based broadly plant on their based is respectively. CXXXX CRISPR traits applicable algae and commercial and to bacteria, these fundamental editing. from activity, amenable traits CXXXX a is gene derived and CXXXX are be

of We to trait. crops. obtained oil-enhancing canola increase oilseed first our driver content, edited series oil developing the lines a with We of recently are in primary CXXXX traits the value

and commercial genome-edited lines. XXXX, in could soybean are traits Camelina oilseeds. Camelina, testing plant these status in other traits seed work containing canola, One to the lead oil-content three and We other containing we This to new two different In changes obtained combinations to and for content non-regulated various and for alone genes. yield. CXXXX XXXX optimize oil

these evaluate in sites to this U.S. We at planning the plants year. are genome-edited

these we or transcription genes. third significant in traits and gene biomass based Our are with are group photosynthesis series, CXXXX crop, regulators which model increases a In factors of on seen in plants. have the yield

in We canola are is and resources extensive wheat generating of points traits proof our corn, rice, deploying Forage these forage as sorghum. focused traits more on and and well traits some these Genetics in will evaluating be wheat In in Camelina internal on and rice. XXXX, R&D as

XXXX, will XX to and germplasm. means of in canola field-tested in into XX% Gen-X turn trials seed crossing field CXXXX with In the canola we lines, canola us canola, another best XX that to commercial-quality two to canola and two Advanced increases Let's XXXX. current lines, data we of CXXXX our led reported development CXXXX existing the generate up yield initiate in development elite X. now to advanced lines, Slide our stealing repeating be CXXXX lines work independent in

goal is Our trait the is data and field develop contracting permitting multiyear, in to of bulk-up, process value CXXXX complete the canola. multisite to The XXXX demonstrate for our trials.

things CXXXX Based our that reporting some second suitable field to end results of significant planting quarter is gene be produces changes quarter an and this the on Camelina anticipate of CXXXX. fourth year. Camelina occur trial before CXXXX seems the changes in the is we crops. one that the the we studies, in other conditions, expect in unusual We and to in know in quite of CXXXX rare plants, expression pending which discovered weather of and

While under over plants. conditions a yield our of Camelina effect growth-taper results for XXXX, in unclear, yield. In boosting September seed branching on and increases controlled its seed in of in CXXXX remarkable vigor, activity a repeated range yield XX% plant the it's function we seed XX% to first trait-produced remains produces

agronomic We seed imagine, yield field around first seed testing As to the collect quite and you a year. further there this bit CXXXX in excitement can in field-grown in generate and plan data pure the of field testing XXXX. for time is

using through is leading plant to lines Work through first develop to to versions development the third-party also so gene, at CXXXX of CXXXX gene, Our the crops. in as a XXXX. produced the already in where possibly ongoing we trials, progressed R&D the early the corn, and is team have field and using we trait expect lines has CXXXX have canola non-regulated as other editing will potential process potentially Camelina these least a Camelina in creating early XXXX. for genome be

boost two in to developing leading These traits are precursors turn Slide a crucial to metabolites, is YieldXX XX. acetyl-CoA to the CRISPR-edited development and novel through of now metabolites of the Let's malonyl-CoA. key flow targets, position carbon involved this; the oil. team in three and CXXXXb metabolic A bit These history of are range we CXXXXa, products CXXXX. previously of vegetable oil interesting identified including and YieldXX on degradation. production trait called them traits a

recently lines Based exclusive the on Missouri and an agronomic, license secured to acetyl-CoA We additional trait with of and will in test year, oil calling is key with driver three and enzyme an year we being CRISPR-generated complex targets CXXXX Jay this the recent for oil converting to the internal Last of measuring Thelen are we ACCase malonyl-CoA, global work University on team, responsible the complements Dr. Dr. seed and by edits CXXXX. in CXXXX. secured oil we Research at an of a biosynthesis. Thelen biosynthesis. done goal these by target his on yield license ACCase field global composition. discoveries more exclusive our

We deploy in in We are canola of evaluating XXXX. active traits will in of XXXX very these set obtained be CRISPR this studies plants CXXXX recently working plants. or in to greenhouse and edits

Let's now Slide to XX. turn

very represent wheat attractive earlier, trait areas mentioned development. and rice Oli new As for

have traits we demonstrate R&D more we to the targets Here It's of and to to genome-edited favorable the traits we and learning promising, believe to trait-editing foods. are the generate exciting on of part and varieties. as strategies this biotechnology pipeline reaching believe are our impact that CRISPR in Oli, identify these these use us around points We key healthier in traits and of genome-editing produce is for forward as XXXX, our test a using for consumer made forms several significant we crops. approach very could work perceptions proof of look plan traits. we CXXXX with basis the in our versions some In the our progress you. our that in rice the novel published and wheat us transcription In series we productive research opportunities year, will traits. good this CXXXX XXXX, factors, with steep year. position crops commercial of a our hope we program of our to collaborative promise back these look an time the curve to Last

Oli Peoples

are and and throughout XXXX. job certainly to making a make pleasure the Kristi, Thanks, for, and excellent work drive The R&D team. continue creativity we I'm easier. very my progress entire will confident to it

testing crops. affiliations XX of our now in key to the to about Let's turn expand talk Slide to traits

with we license XXXX, forage we have Given managing provide a well signed leaders traits XXXX, The CXXXX resources of in is five leveraging deploy industry of on lot with to is a in and get progress the commercial done commercial sorghum. making test traits underway trait with to considerable expertise enabling Bayer the in in to we the in we This our license and germplasm research evaluation good are with licenses. by path Forage the signed progress size them crops made. a research type our and resources, our ag late and very are based to is pleased soybean. work Genetics

expect licenses. their generate these As negotiate companies cost in come and we data they to target us at their will crops, commercial

or company traits soybean, is have America, corn major traits ag that underway. our discussions. in and collaborative and into our licensing we is to value before major engaging respect a engaged the the preference to deploy corn With North crops work to demonstrate in our For definitive, of corn,

researchers and our in in crops. interested with our at on a Based traits. several Please technologies several on we as In evaluation setting with stage on lines on to for turn XX. the our in for activities NRC we are our third be parties, incoming will more traits, data develop and including working continued traits focused XXXX, access smaller based partnerships. genome-edit discussions to series queries, are collaborations also data, wheat, For to CXXXX field we to generate Slide for Canada

a sheet. cover with Let's balance few starting highlights, the financial

Our $X.X cash in XXXX. balance direct quarter of for a the offering $X.X quarter We cash of This million cash first ended proceeds million $X.X was equivalents. of in the net usage XXXX the and includes March, cash with first million issued to registered enabled opening with able costs. price in offering. of to raise warrants. which markets of shares be common were to stock connection our the X.X with us million net approximately We at offering these We low offerings pleased

XXXX, cash usage to million For $X approximately operating of last $X.X we net with the million, consistent year. in expect range

this working We proof advancing are of our traits. points, directing and collaborations investment yield in towards generating development the

We to of sheet and into points proof debt have from operations our continue on together balance hand, expect grants, revenue support current with cash fourth technology to the XXXX. our of number a through our government our no expected on quarter

research versus $X.X first expenses million. This expenses and the expenses million research were the Let's loss first first operating for XXXX. quarter million also expenses per XXXX. million million development or grant the $XX,XXX Total of compares were operating $X.X reported now and quarter development to net share first were per of company XXXX XXXX in the $X.X and quarterly XXXX, $X.XX The G&A and the compared quarter XXXX. the quarter of to of share of $X.XX of million loss review of quarter of In $X.X quarter a or and $X.X results. of the net research in G&A first year-end from $X.X first revenues in of operating a $XXX,XXX

earnings on release. results, more financial please refer For details the our to

and and canola CRISPR the corn; and discuss data Let's of CXXXX and editing CXXXX make support XXXX, generate field trait in on continue now traits deploy milestones. generating XX to the development testing putting advance CXXXX upcoming using XXXX genome Advanced oil-boosting our we following: Bayer In our Monsanto yield and program, canola CXXXX CXXXX and triple-edit traits forage in and in soybean, the in rice; on in of in to canola the for source and turn progress in Camelina, series innovations turn to Slide in build field U.S. including will developing CXXXX data collaborations. Lynne communicate of our for our that, intellectual support back to report papers; studies; call with continue the industry With in evaluation property questions. our progress continue presentations technical in portfolio; Camelina sorghum; testing plants agricultural our to CXXXX secure to in over and scientific Forage I'd fund our wheat traits and like in traits

Lynne Brum

for Thanks, now can poll Oli. Tim, questions? you

Operator

[Operator the Instructions] Our Group. of Jang first line from James of comes question Maxim

James Jang

to of of let's of content you on so a like I of get content. increases do just everything you type before just But can next to get reach for? oil Or quick you think commercialization? couple to questions. to track. So What testing, the in seems go terms you the are need mean the looking phase oil

Oli Peoples

Yes.

testing use We've doing a but know, million the in acreage of crop we interesting. with is it's in and in acres. primarily already math on Dakota, America, So we're focused I Camelina, this the North the you -- value oilseed Canada large because North this year of the canola XX communicate really to think are sort

the the why $XXX think oil crop. in is driver XX% of I grow the content per course, seed And to somewhere around value canola, oil it. about increase year really the that's of the of million they dives a in primary

the creations oil considerable. is content So value from

be a quickly. particularly an a could nice to commercialized be trait So it's will XX%-plus edited place in that if pretty be, especially

James Jang

commercialization? enough So what of, does the if across is that -- start they XX%-plus the board more -- mean year at next doing this year, steady you, that lead content to if oil sort results guess test phase to I I show gains,

Oli Peoples

Yes.

-- production in made Already ultimately canola. presentation suspect that just trials in earlier gene CXXXX, of already edits let's field or we we've we've that plants probably oil the content -- developing in say another seed -- those the XXXX. we're for to We're for increase. lead got mentioned to So target will

let's see example, provide in as or that drag and I'll XX% edited with improvement line, an do commercial unforeseen product. and that consistent don't That we yield yield take a you say, we event. basically a a is fact the other to see path a that just let's major So works, any

James Jang

Got you.

So oil that's don't well as seed the as but yield need okay? seed doesn't content to... yield the as increase You drop, increases, the long to

Oli Peoples

is you yield ideal. obviously some year the for trade I additional because same we'll can genes the to getting be oil off No. sort But oil to we be. content that, more that The -- million the is afford likely yield, $XXX situation increased be situation the for oil the seed That's perfect well piece. pretty good Well, as seed basis value, with is earlier. mean, we is ideal as If of valuable get and mentioned have increased there, would happy. of, increased a content. per That's place the I

James Jang

to if XXXX, development could overly -- after shows do commercialization marketing or you revenues that that 'XX? or for to 'XX harvest have the actually we're So in think being some in optimistic, of kind if skip this come seeing go year, it'll in it and

Oli Peoples

traits, Ultimately, the this broader sector. for other to we seed existing partner still canola in [ph] a with into example, companies and in get soybean, want the set the

for out be partnerships perfectly So looking looking partnerships. there there And honest, we'd for be to really those we're now.

of and days with large discussions of what a lot to a part I'm partnership is companies. we these really offer, have these doing So types

So I think...

James Jang

you I waiting are everybody they're just and keeping of right? much pretty So though, guess they're what the doing kind of for... you're on radar guys So track for

Oli Peoples

technical It's encouraging, we're thanks team looking been to very at. the now getting an that the hadn't calls largely achievements and even of relating inbound to awful crops of lot that we

of sort we're so And leveraging.

I really Monsanto two us think to we Genetics. the build trying Forage did arrangement think helped years the as the I credibility. were particularly And first

probably being those in of form economic components the for so think are the do some without now we'll two arrangements cash I the types looking two have definitely them. considerations only we're of to YieldXX, there

Operator

Our from National Klieve the of line next question of Securities. Ben comes

Benjamin Klieve

for regarding couple the line field kind time trials. of A here

traits -- the being of corn you get results you Kristi, on To integration the at partnership XXXX? able next produce field by commented you with trials to clarify, to the spring? XXXX it some anticipate get the year are point think and So you're going see first, begin for corn do XXXX. to CXXXX to do Or by into field in to going probably next

Kristi Snell

Yes.

to lines we we're the from to homozygous we So and would in is with provider, make after need what our the lines, them and next do would year their then elite put make with stable called to field. that, get we need germplasm, what's then and seed then back hybrids

there's think field. get really on or to time I your so line probably another into So year them

getting Next year, we're only from the in year. back part of seed the the provider the early

Oli Peoples

downstream the trials. their right hybrids that plan is has field who make already with we've to been think I capability in party the execute discussions all including third actually the with the germplasm and

because, much virtual to it and own, we all time It's have several way these traits then take obviously, which in things magic use time. gene what program. at is one we've corn, field is results. can looks like pretty really the initiated So we us The can get services a you been to traits, why we trial also the --

So traits of got package, or those YieldXX from X we've X right? in that

Kristi Snell

Yes.

Oli Peoples

One's pretty...

Benjamin Klieve

Got it.

like it canola same for other 'XX. field with I What on of soybean? down and sounds -- maybe your the mean just trials are potentially -- do in guess time testing internal 'XX sorghum in crops so or corn on line you your can thoughts kind Okay, XXXX, you that perfect. trait if curious anticipate I here. break the -- the you in

Oli Peoples

Yes.

we're have at looking for really CXXXX, not is we're yet regarding into So Forage hay really It's targeted and not sorghum. partnership silage we -- seed the and feed.

and particular CXXXX so our partner the limited existing were our all to because supplement Obviously, we resources results the soybean, for about service soybean this talking a for in this are providers We unusual. also little are our to we're we somewhat have. with ones Bayer looking

Benjamin Klieve

spring, I piggybacking working potential a have of regards regions a weather such conditions on to are do off -- Monsanto, in? any -- to the idea, line if if with wondering brutal this of guess question those impact time there Bayer kind With really any I'm you what have you a And idea for they With that. the relationship trials? the just

Oli Peoples

Yes.

have we Monsanto. agreement a straight with pretty So confidentiality

they open everyone Fortunately, able with with turn sharing not in but very been to have obviously, us information, in else. share we're

can agreement to say expected. has guess, very in doing a time license, that of program initiated on to of we a the QX that we of anywhere of of research we But, And original pleased more going all We've but comprehend. all trials terms in X.X-year ourselves, the think I go them there aware got were XXXX really work than because a challenges obviously, level vagaries I are executing it's to is ahead seen give that, further which data. the ways field else XXXX, technical and even than face. they've we've was in planet, the of think a I the we seen in of and get they ample type they're field this can't experience Monsanto actual

in with So I it's them. think good hands

and through us than more The well. working thought pleased is they've we're The team get. really were they're making actually great, to has we think on very team it, was going open with Bayer acquisition the and transition that that's working progress. really I been I out the worked

they way the with forward. us pleased pretty I'm moving So are

Benjamin Klieve

of strategy. Okay, couple perfect. other go-to-market your regarding Then I a guess questions

to in to out comment referring I then about How are guess can than of -- you to the of nature I inquiries. guys the familiar you the the companies regarding more what to? historical inbound level they also, And inquiries? of what And what remember comment really know do curious commented I'm that you you on triggered work? these if And you're reach on your today's So crops proactively to calls to you smaller out on kind were What you? led with can maybe you? reach decision these call

Oli Peoples

a been is front team Yes. her that we CXXXX It's can say, far really progress the scientific think -- really I tell, technical and decision what spectacular, I given. word. and -- the data have presentations the in results related I of Kristi good the about and have I'll as up that guess, to publishing is We've is somewhat pretty, made. as of you trait, mean terms I the

Forage kinds the hope have repeat actually we've identify be We're, obviously, into the -- that. wheat editing that's to that them series, and CX is the this those We CXXXX And year. sorghum. some But That's results as into we and the type of for and also later about and caveats translating moved photosynthesis exceptional result data corn it been of to rice all into genes translating fuel talking there's switchgrass. to targets. of of boosting

opened second, the that. ability the them we're of towards finding all you Factory rich perhaps And that pretty Ag has improve to so door being YieldXX biotechnologies but to mean, perhaps when I to you'd them YieldXX a source they're and to the able with sophisticated, identify genome-editing majors. their compare Trait editing smaller would use to call the companies genome now seed the and be But has targets second-tier first-rate to I really -- a is at to players, farmers, offerings they're looking companies happens all advanced very and

our and stuff before science getting for doing it. credit We're done done. the and crops science So team we've in it's recognition that hasn't we're finally, a to been

Benjamin Klieve

sorry, Yes, go that's ahead. And – great.

Oli Peoples

mention crops didn't deliberately I the because...

Benjamin Klieve

that my follow-up going to And be question. was Yes.

Oli Peoples

But of get pretty everything look, in and smaller to piece, are high appreciate there's applications any No, crops it's that so into this I from value, and interested specifics know. in. acreage it I on you see to to really applications medical a certainly, those. Yes. wanted know. food we look, great can't But coming number

Benjamin Klieve

one for And back really your go-to-market how you're evolved you onboard? last strategy over now have now really curious if in queue and has I'm last I'll Brown that that any here. X I been months me has in there difference get guess Sherri

Oli Peoples

Yes.

You know what, great. she's

is I productivity don't companies have. and shocked organization the the you, So mean little recognizes extremely we that's this of with with that at greatly her, see appreciate Sherri first we of the really -- really ever the And size can a given level at it's do again, of the in got research do team. unique. very her of GRAIN capability platform her. share big that's and ask and if core to lucky Factory, it's teams. Trait I She's a you the the me, also to all, discovery YieldXX to And you her the interest mainly really with the the science of simply have company. GRAIN are her, to can complement that's

So since not it you're I trials, I it where it, became way, and tell at, making everybody of think, around them hear way we we've about that kind think do sure but you're kind looking realistic of wants mainly diligence when like right we the sure do to consistently YieldXX, the you that's being field these is, very at things.

would and to that's to trade used that things much with all YieldXX at definitely look has other the is crops. internally, forward, specialty good sector. opportunities obviously able on And why really in the the so niche in we're in is niche move interest us need space, develop more and by which we some to we the as the that some we who worked and get And there's mentioned the be U.S., crops the there's driven is a China also processed alternative essentially probably sense beginning growing farm in been stead. detail, current crop support on situation stood to in We've there, and interest

the in actually And some for so that these to doing we partners are In things. is all goal things area. find cases,

funded essentially looking are for partnerships. We

Operator

comes question Ladenburg next Our of of Instructions] line Jon Hickman the [Operator from Thalmann.

Jon Hickman

you? do of -- you XX guys you Slide have Can front in

Oli Peoples

I actually do. XX, Slide

Jon Hickman

year, go just time but of you're the the year, through a those us? news you like for tell like frame, to, Can me going end that? Not and middle might you something when have of

Oli Peoples

Yes.

-- of to in season. the think the growing field they just the of trails, were about that's I do end it. because much terms year going basically, can be So There's we not

made with once developed, being traits The decide and oil-boosting for also generated Camelina still particularly now to progress in it. plans going in canola. are what in that data We we've We'll do good we're have the CXXXX trait.

traits Regarding is the that in work rice, wheat series XXXX ongoing. and

greenhouses at would rice. talking We're generating the plants. we we obviously, be because those, have on And early We Same Kristi? yet. QX, those released what, about haven't data looking the QX, in in

Kristi Snell

QX. By

Oli Peoples

lot see working we're Office of next Revenue-generating starting Communicating property, of point of a scientific from again terms now presentations? number Patent these it we're we've all view Probably innovations, the to your that some actually unpredictable of the does actually fruits those. That's from that. can. ag when's in Intellectual when on the unpredictable a in Those collaborations, been lines. and doing industry space, that QX. of are time

Kristi Snell

June.

Lynne Brum

Yes.

meeting We conferences, have going June of to genome-editing in Biology we're and then conferences a November, couple we're big talking and two Plant -- one August. in the in one at

Oli Peoples

and we'll of trails has be them now, was ground, actually seen field these we've warm for down, the It when once planted, out the there. weather going in know that be Canada, pop a and changed cooled growing they're and got correct? So enough little. the right they're we've in up announcing Right more Is now bit waiting a little and it moister. particular, we

Kristi Snell

Yes.

Oli Peoples

In the actually soil them. plan before they

efficiently it you execute doing that any in pops progress changes planting we'll and the weather these now communicating it we then, and obviously can. up as have traits, and as to we go else anything the responding sure. make the we we Once let as this be in so then we'll effectively and between done, we're of as So Once know. we guys forward,

Jon Hickman

here. position you XX fact it So doesn't months you the that? in about that your talks comment on cash your press release, of Can give runway

Oli Peoples

we I so months at cash several think the get position and be XXXX. -- been proof XX at we'll before looking of runway, And give the able cash have the cash our year. end to position looking since points through of basically position be we'll the doesn't

Jon Hickman

end by think for that difference? a proof year the points two the are what you make So of will that you're the looking

Oli Peoples

data we'll We'll that in think have interesting to in the field some see what the plans of not happens. have test. are I

Jon Hickman

Greenhouse?

Oli Peoples

Yes?

Jon Hickman

You mean data? greenhouse

Oli Peoples

think when Yes, business. have I in rice happen. if wheat. oil from decide predicting those think that potentially some be of are greenhouse heavily the it's probably do are, would for that. ones those about data traits. little on collaboration, and the greenhouse bit company. and to the we some obviously, because what There's the We'll challenge data essentially for regarding those We obviously, a may But that's of will game-changing we the a And focused this reality of

Operator

like to Instructions] Lynne I over There of remarks. no Brum audio turn would conference the Ms. are over to questions the portion the for [Operator conference. further back closing

Lynne Brum

Oli remarks. to any turn Yes. Thanks, Tim. And I'll concluding now back the for over call

Oli Peoples

and is for today. us call to So an the industry personally on for time joining your of I'd continued our for This And all support. for especially exciting shareholders YieldXX. like thank our you

progressing is to is the perhaps, to feel And fulfill global security. the our and Tom like is or I mission improvements yield life. with have Tom Brady food money, bit here. Only difference crop to team our to produce laser-focused, Brady Our a don't gorgeous traits I the little ensure step-change looks,

year. Have us at XXXX, track milestones a and I our achieving to this our to to for reach forward want YieldXX goals nice thank I on everyone look in setting So evening.

Operator

This conference. concludes today's for participation. your you Thank

a at of your your this lines disconnect night. may wonderful Have time. You rest

YIELD10 Bioscience (YTENQ) 13 May 192019 Q1 Earnings call transcript