YTEN - Earnings call transcript Q2 2021 | YIELD10 Bioscience, Inc.

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Operator

Welcome to the Second Quarter 2021 Financial Results and Business Update Conference Call for Yield10 Bioscience.

During the call, participants will be in a listen-only mode. The presenters will address questions from analysts today. [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. ahead. go Please

Lynne Brum

and second Maria, everyone. to Welcome Thank XXXX good conference Bioscience quarter call. YieldXX you, afternoon,

Joining me YieldXX at Events today's press available presentation as Chief on Dr. the afternoon, issued on XXXX Accounting call today yieldXXbio.com. are Earlier section Haaser. as Vice Kristi well the and This this of second Officer, Dr. Chuck Oliver President President Research Officer, results. quarter and Relations Science Snell; Chief of are website Peoples; and our slides our Investor financial release, that CEO, accompany

now note constitute management of Investors are Let's are undue from to forward-looking turn undertakes statements. guarantees after as in historical to in that These that with making reflect risks therefore, to cautioned statements subject be to also performance, Please slide These today place are that you discussion future on are uncertainties not to cause not strictly not detailed X. SEC. statements. of materially reliance YieldXX's could of and our forward-looking any arise update circumstances include obligation them. and events order risks forward-looking the company statements The call. forward-looking differ may statements that part Such will and date number this the of conference a or uncertainties risks actual those no filings the statements, results anticipated. should

Now, I'll call Oli. the turn to over

Oliver Peoples

and quarter key we for review I'll our XXXX YieldXX's joining Today, our progress, everyone, and highlight for have start and our afternoon update call strong XXXX, target Good financials thanks questions. an open markets, on I'll to the made accomplishments. business. will Since before Lynne. Kristi advancing second milestones the call. beyond, R&D we summarize Thanks, of provide progress our and then the recent

our varieties Now, to goals revenue from YieldXX Camelina improved to key major Trait like companies feedstock meal to crops. Camelina oils, two $X business to trait and generated distinct of product enables X, product Camelina, on bioplastics slide opportunities, Data business, strategic trials I'd Camelina our Trait licensing the field a let's for the crop seed omega-X and model. oils, billion other platform PHA estimate by Factory as potential Factory with for we EPA+DHA combined against protein accomplishments and our produce over XXXX. revenue where focus use Today, to a turn

Let's key turn accomplishments. X, to slide now

includes, explore together During in we this to of reaching to quarter, to Camelina working develop partners the execute fuel, potential ways forward This of business bring products and to bioplastic continue and our in areas produced strategy. out food Camelina.

On we plan the We in oil regulatory as build well network June. for contractors sampling. seed two a in work to customer and in Chile. step produce operations Argentina, scale-up business towards Argentina support progressing are of as we front, to as in field affairs These and meal efforts, for the trial first a executing activities, hires and analytics and field for US, including market the for in crushing new access announced seed To are our technology harvest. across to commercial Canada, aquafeed our activities program,

We our will out the commercial build team in key operations seed particular ahead. and months continue to lead to our add in hires

traits, year's Camelina January, traits and CXXXX milestone allowed testing proof-of-concept to trait for US of producing run for synthetic or milestones into July. including a have platform. scale building our extend by in-licensed our with led initial Our oil XXXX. patents we a the field quarter rate program. crop and new part CXXXX grown In and In best the of been trait oil balance our patent four discovery DHA+EPA GRAIN science two and producing field US as first we PHA of Omega-X using team a the Kristi bioplastic Camelina value achieving in lines strengthened our seed sheet reported trait up achieve expanded trait content and are portfolio the this in granted biology has for oil ongoing recently milestone cash our granted content for the was

the For our priorities, I'll now R&D an update on over turn to Kristi. call

Kristi Snell

Thanks testing, our into team and to is in seed field continuing new Oli. The making platform. traits scale-up progress good Camelina while deploy

seed turn the scale-up EXXXX Earlier elite Camelina content will spring fall this we enable haploid seed from XXXX-XXXX engaged winter doubled CRISPR US edited line. to company a this X. year, slide oil scale of line, and disease Let's Seed to our leading seed work additional growth resistant our line in a perform up season.

of to working completed seeds. scale-up we US, Argentina. XXXX July, for In field had and program contracts in are that announced secure of the further planning trial this Canada our we We

expected tolerance the We germplasm in including oil lines. is enhance lines a have range Camelina broad to herbicide with to the and recently traits Work ahead. the in of yield our made our disease resistance Camelina into occur goal trials of weeks Harvest progress elite and PHA elite incorporating continues germplasm and towards lines.

from the to Our part the traits. under SECURE crop new platform and under varieties robust nutritional for In oils April US. Rule, CRISPR X our CXXXX USDA-APHIS in CFR lines framework are that PHA Camelina a develop plan edited regulation new XXX regulatory exempt confirmed is

We omega-X evaluating Rothamsted continue at lines other Institute crops. our and on traits Camelina and support support R&D commercial partners to

to new discovery. a four in YieldXX also have using it platform. researchers is our the Finally, discovered leadership content trait traits GRAIN oil retain priority

the food around GRAIN platform factors or rising lot vegetable for For We there top to Using genes in novel ranked our create identified white least as seed their studied. more prices representing spots list in transcription use series factors increase There observed our in factors Camelina. to to oil mined yield were used increasing of known validating four and most we transcription turn a that data We transcription search a space. to seed is such of oil identified and as is the of MYBXX XXX factors. fuel. IP and demand ranking let's for relevant on this We of WRIX of to our were TF There content impact the transcription as oils methodology a slide momentum X. approach. and/or

CXXXX seed Our over-expression shown in by oil content has greenhouse that increases of XX% work studies.

Given the this early of but forward pure moving with result, strong XXXX seed produce we further to the to enable test CXXXX in are program study field-grown trait. field

CRISPR meet addition I'll Camelina back and advancing efforts for as the XXXX. CXXXX call the and hand in thank represents editing is all work want CXXXX R&D I their objectives Oli. deploy underway Oli? and team in traits test to to In targets to CXXXX, CXXXX, our us to well.

Oliver Peoples

become team the for doing a which Thanks for the will Camelina we crop. work, update is industrial Kristi. new our and industry enable benchmark excellent The believe to

Now is Today content. market to X, for the grown We've oil and for applications. niche opportunity establish in crop let's XX turn have a in renewed seed yield oil slide this crop. Camelina years small for scale Drivers for new over major traits recently evaluating the been to investing on crop. a in platform as the interest a

large deploying in have believe seed herbicide there As identified We access acreage result oil to a North resistance both. for to we path clear tolerance is improve America. content and pest that traits a

cover opportunity features successful Camelina are as biofuel to at many Therefore, growing. crop. also when see time a feedstock believe interest as in a revenue-generating as distinguishing the We crop we Camelina winter our establish using for there variety a a is industrial and

Now let's turn to activities. and slide Camelina current strategy X, elite

disease agreements. contract offtake seed We've made Our one towards commercial crushing and resistance. progress light strategy customer tolerance lines using in and elite farming, Camelina developing Camelina is herbicide capital good with

example, we evaluating For lines non-GMO currently product and development. lines a GMO are herbicide in

a also and disease mildew resistant We acquired are downy variety. Camelina testing

double growing soybean for oil media to the with have the is The Street oil demand Camelina are soybean We secure XX demonstrate for oil as biofuel. Slide as its diesel. many in for expected value of and include soybean, increased These XX Journal, this oil to production last With According per Now XXX for oil believe to a we for shortages food. Phillips Phillips and in reports meal a case, acre, the crushing potential where from for favorable protein see was renewable has soybean million cropping it US investing oil production for to The to the fuel in new feedstock in gallons oils X, indicating grow potential that decade let's the Really provide potential, diesel to Wall been soybean capacity and space, oil Camelina production. plants. creating feedstock the AGM, areas company turn are driven production XXXX, renewable to across in tailwinds entire Cargill double world. the diesel to There renewable in to supply is renewable elite felt chain. feedstock for led highs prices challenges year. nearly

are space reaching engage around few in off-take agreements. We out to this in to players discussions

of Now turn combined fish demand a completed. and work in Camelina Slide by wellness geographies replacement programmed, been and with levels have oils positive conducted YieldXX to believe approvals the and which need in a regulatory ongoing technology from seed supporting and omega-X XX, oil. aquafeed developer The and Rothamsted omega-X has been to field produce nutrition growing multiple sustainability. human strategy produce the for health and America. oils acid XX% is tested multiple best on this essential development We EPA these working of are for studies lines commercialization and in human fatty oil there South for to vegan let's oils, over a genetically the successfully Camelina corresponding sustainably. and is is DHA

Now Slide omega-X report of fish due without the fishing The wild-caught remains the harvesting Hardly overfishing. the ongoing fish the on volume fleets for illegally slide, oil in markets. production of as a XX. by, price day Chinese rise oil across another goes the fish flat the illustrates let's Opportunities and to turn massive of fish graph globe. left to in

very the product high around but both produced quality a the problem this combined products. the this ALA EPA production a The is omega-X Other competitors allergy producing competitor plus also does and clear meet a time using to and cost. across we in market. omega-Xs way Camelina compares get of and the or market. for omega-Xs not to solution EPA the on DHA product XX% potential this the and DHA competitors only right growth be omega-X as EPA best-in-class fermentation, an anticipated sustainable a same EPA potential believe, are either omega-X table produce omega-X platform Two composition has to canola approach from plant. same So The the DHA third worse. is in to produce plus Camelina at that going at Land-based with DHA to that's represents

Now let's development. turn to business XX. The omega-X Slide plan

Chile where goal global America, about South feed on focused production feed salmon is XX% and oil away and omega-X of has to fish. a from for strategy production entry away move -- market Our farm harvested from

with contacts third industry. parties salmon and farming We contract the are to related in expertise working with

We elite using the omega-X an are evaluating the commercial use precursor oil, a prospects. Camelina the is to initial footprint aquafeed launching provide in it market outreach ongoing as based partner to on of to

Now bioplastics. XX. let's to Slide Plant-based turn

As Camelina prototyping. Kristi this lines current mentioned, product and PHA our work we scaling are up will support

regulatory business identifying value a strategy development along developing chain. are We the for prospects and

and seed as market are owners second-generation to represent from produced solution very the goal increasing an that attractive excellent development, for a PHA environment. XX% also this bioplastic well may believe is biodegradable level. consumers We We with to continuing plants the XX% compounders, line brand as and of

pellets. establishing turn the production, an companies, protein, seed see chain, end To variety areas, companies. identity bioplastics chain. processing brand plastics, need owners let's partner seed prospects, we into markets and a oil preserved XX, product on establish value farming based we'll Because to Slide value seed these companies, packaging, contract access biofuel bioplastic and contracting Now of of and to the

over $X XX, end petroleum given to a $X the and yields. in less products market about crop the million with being opportunity is over of billion plastic bioplastic, opportunity on to We products. for Camelina of X $XXX production. persist by X% all could of unique, growing often, Now used grown million oil million being a this consumer let's market plastic there for in bioplastic, million market expect acreage acres replace at revenue history, on protein X.X in around based by Sadly, PHA Based months. for single-use up be to and believe for we use $XXX feedstock the crop on $X $X of functionally an potential for slide share. billion, where XXXX. is lifetime billion of growing single XXXX XX% revenue per scale too our and XX% in X plastics growing PHA of these annual used oil billion that meal. omega-X to items oil of growth depending hundreds to plastics of million And sales believe X know environment, potential a XXX,XXX $XXX after $XXX acres year. with market Over with opportunity, use date, years. oil the is bioplastics We for a estimated quite and to bio-Camelina assuming with million than six they order can a of is XXX,XXX will billion potential we The for -- the XXXX, bioplastic single-use half of could market to of acres, meal, to Camelina be for turn Feedstock growing million

Camelina technology, is costs in to with feedstock PHA disruptive offering a line goal oils. develop Our as

steps are still but some development, take first will commercial it We time. now the clinical towards taking

Now Currently, initial are completing XX, let's the in in our and year, traits CXXXX to with with trait, based test GDM, on licensing have assess of nonexclusive seed X% field we license to our greenhouse. increase achieving we slide our in different turn oil Forage edited canola Simplot in This opportunities. crops. agreements place a some Bayer, research Genetics

and to on plan in corn for traits canola we focus forward, resources seek internal Going Camelina our partners development. to

slide second in with We investments. let XX, XXXX financial quarter turn million cash Now us equivalents results. and to cash, $XX.X ended

of we common with business aligning well better as exercise from public our our raised a During million as sheet warrants, $X.X stock, million from first a the proceeds XXXX, offering $XX of quarter of balance net strategy.

no have debt. We

million was net operating of Our second XXXX. cash usage $X.X for the quarter

expected early hand, current operations to our cash our expect into revenue XXXX. on with We support grant together from government our

activities, range our for $XX will continue the to business XXXX that million and be and our seed scale-up and of million. our seed estimates this year planned well of regulatory cash to the This as operating business hires includes as planned direct usage $XX executing and we estimate We affairs net full as contracted development, within towards other support operations, plan. investment for

second XXXX net second taxes second taxes were versus second Total the of quarter second XXXX, $X.X results. $XXX,XXX second quarter for of $X.X XXXX, the grant as after were quarter of $X.X reported in of to XXXX quarter The million In million now XXXX operating Let's review the expenses the second a of second were expenses G&A loss quarter the $XXX,XXX compared in of after of R&D company the XXXX. loss $X.X XXXX. revenues research in compared second million quarter to a million million net quarter quarter $X.X the million of to for XXXX. XXXX. $X.X compared in in quarter

to million June XX, For in $X.X compared per loss months ending the or XXXX, six million taxes XXXX. $X.XX share, as share per was net our $X.X after or $X.XX

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

to support; XXXX, plan for our field including well the following seed our will germplasm scale-up service business and lines broadening In recent to recently hires America, have to operations XXXX expanding profiles; turn plan capabilities, regulatory particularly business and where continue progressing the engaged development slide as and oil products, internal development. our commercial omega-X to business performance launch Camelina oils milestones: provider Camelina with now Let's our work in seed with Camelina for in we in executing the a desired affairs program; South commercial acquire we as complement seed advancing XX, focus on testing collection milestones. rights elite upcoming our

platform which value be for collaborations the over intellectual call is to secure integral in turn the business, three revenue small gene novel questions. like for feedback, from Camelina major industry as I'd editing see XXXX identification on property increased our genes products patent to we the the genome a commercial on demand for there opportunities Based and partners. like grants back to increasing focus more portfolio, in believe GRAIN generating expanding tools Securing we well on an our and industry to strategic will licenses With effort. chain we As crops. that target this trait trait Lynne trait crucial as company are for unique based

Lynne Brum

we're Thank questions. Maria, for you, And Oli. ready Yeah.

Operator

Anthony with first [Operator question Group. with Instructions] proceed question. Our your is Vendetti Maxim from Please

Anthony Vendetti

steps I market? you. was little Kristi wondering Thank in for XX% on available and does increase options a talk more the CXXXX and Yeah. GRAIN to the you how or other about your Oli that platform next if then could about content compared the oil bit via development

Oliver Peoples

Yeah.

I involved that. to take team the directly I'll science in been and line can hats having actually the team science, the Kristi. And not mean, off GRAIN by So I

using right can tell. that we're four those platform space out as literally pull far Now of the able to as I targets ether

reminder literally for they're XX% canola deploy increase. XX% have as oil switch a to a tested oil. yield of equivalent the in to the get an computational are canola and of CXXXX if XX% we value impact a And so a impact positive And across each of a oil increase actually were we and higher a sort analysis able acreage of would four to just increase seeing the case a be selected we the these in you that of targets seed because the

thing. didn't We to it's tests So on field that but any obviously we'll yield seed do to actually of greenhouse, in deleterious see remarkable. quite confirm effect need the type

-- increase X% genome In we've seed what a CXXXX, is to edited would canola we've line of approved essentially X% oil seen I already increase. with EXXXX X% increase. a seed say yield the Camelina, So which seen we've yield from seed seen regulatory

certainly, one, that recognizing it other companies? not field I'm stage still we've impressive at How it we this But to to this seen. is in so highest the has really sure be evaluated know. compares it's And trials. with this

Anthony Vendetti

opportunity oil what obviously near Sure. is the seeds. XXXX. Camelina stand Oli. bioplastics providing the Seeds your for immediate also we But look categories here of Sure largest out believe And and term, in billion each $X here as thanks for in by today? the commercial you platform as the do you potential most opportunity

Oliver Peoples

Yeah.

I two areas. seeing think we're So really

a uptick for to the there hearing actually the tool theme say for back But and and YieldXX. use problem conversations and in you'd into is more companies industry boost editing ag prices all, they've invested we're we and actually gene that is of these And in the a I when definitely would foresaw interest heavily genome I target of ultimately, which is to lot comes down performance. or with with that this is think a also terrific seeing whole in of all a it's we consistent particularly genes it We're running started the still actually activity traits. players, struggling targets, around yield improve new of some First genes. the been some our new very our as very commodity to that combinations want which wonderful where they're

growing area. definitely a in we're so interest seeing And that

interest seeing of -- hand. in traits definitely more in already are We that interest have we in some the

I in I definitely I history it's our second a for this the renewable demand conservative in question one long feedstock. about been and biofuel judicious space. very and is have where we've and which think would there's approach, area no a it. There's very, growing For term say nearer

And so things go. these seen I've and come

folks certainly feedstock the a from that partnerships look mean from from Camelina longer-term not to Camelina, be But going for bioplastic and So biofuel our supplier is oil Camelina there become YieldXX actually the – space. in to product would player. is elite be could the the our PHA biofuel near-term cool the approach a from we in with to a Bioplastic really where is production. in area I our

also also Again, more probably and third to So guarantees beginning agricultural based around out which the for there. we're agriculture, attention of a of in feedstocks and improving carbon in it political seeing areas changes COVID on increasing innovative the of coming a at lot there's technologies targeted is, sort of reducing any government that's But seeing of lot the products, there's kick a various activity we're no sustainability of funding recession in, this. availability all of essentially emissions. the really new producing around thing

a we good we're So is – time the for feel timing YieldXX.

proof We have in lot hand. points a of

commercial arrangements We to some have begin a now really third great and to out but are the organization steps into next of team. We're these flush parties. agreements building with

Anthony Vendetti

in helpful. Great. was Okay. That Thank back very queue. hop you. I’ll

Lynne Brum

Thanks, Anthony.

Oliver Peoples

Thanks, Anthony.

Lynne Brum

Maria, question. – call our next we have next

Operator

Yes.

question is Ben with Our proceed question. your Lake Capital with next Street Klieve Markets. from Please

Ben Klieve

Thanks my questions. taking for

with kind we we're Is when do this can research Forage about with can Genetics, steps expecting on potentially that here potentially next wondering really we're to we know provide of getting one, an First to collaboration going be if a expiration? collaboration And when of here agreement more date expires? the expect to kind out any regards that detail What are you what of with certain we going here? – roughly Genetics? learn there Forage

Oliver Peoples

Yes.

with Kristi Forage one primary with contact been in the know they're do moving forward So I has Genetics. them. particular

we We arrangement. of confidentiality a agreement that part haven't do as – have

really And so forward. any but we we do go that real moving know details into can't

information that know trait they're but particular we share that also really very anybody. in interested with in can't one We

Ben Klieve

kind it answer hear a of that's them? guess expires to correct regarding wrong, X.X-year this can for then dates certain me, a if Is I in Okay. it And like was this we can't a maybe if date – believe. development that moving I collaboration fine. or I it there one then October is, But this is you believe research then target like I'm expect a from is

Oliver Peoples

sector ag conditions We're weather experiencing all experiencing, not this – around mean I some but this – the challenges and growth I arrangement again, doubt conditions is no to specific entire wouldn't year.

a end relationship what to commercial good won't what achieving provided want And license. progress if they're is in prematurely do continue they that we to need see execute so they making to

value in what's Obviously, with invested moving to developing reporting in optimizing forward. they've right a we'll we're the they've the So pleased conversation and this have of of of them lot in sorghum terms very in quite we'll good been and that trait terms do a us.

ultimately because both So a we'll trait. want successful I parties reciprocate think

Ben Klieve

Okay. We'll of next conditions. or trials field for kind couple years you Canada were washout of there. they you of were led A here into stay a Fair the for happening question upper opposite enough. everybody. and status great? tuned kind any about actually in And The field in ago my kind regarding comfortable your you the with and of the would the problem of far are field? update Can impact today. is be trials growth how regarding Just you talk of so weather Midwest

Oliver Peoples

Yes.

So Montana is getting Pacific really we irrigated that what essentially the I I around The I heat because would using such unknown we terms is so of still heat mean I receive trials. this really includes most various and to one can to did been until say are in think the an going part that sites issue. think we've guess availability, – is have be very, won't levels field these mitigate say know Northwest Saskatchewan as But harvest can that year. water But times ready we Idaho high harvest. we challenge I the analyzed I very that

much earlier to does canola. year. regard We real that Camelina challenges appear do to plant than And a be does had Fortunately, know with Camelina that. canola some floor touch has hardier this

So be we'll believe do generate able we to data.

scaled for the trials lines. PHA planning Camelina our are Idaho We up harvest including to

but be we're wait report reporting the to do So, data until going and data. out believe we'll we have we

Ben Klieve

Okay. Perfect. That's encouraging.

Oliver Peoples

it's Great to for credit that team not the easy. achieving

Ben Klieve

to No, hear And for to that's irrigated sure trials. have access do Yes. I'm land good that these true. you

and So very Last queue. I'll in good we'll stay one well. me tuned for get as there then

or here mean that are on hope you are to really be trait. to I ramp is this etcetera? here Camelina to similar Any I'm develop great. this is or to internal your your as you out curious this help kind specifically basically Regarding you are of license to that there your with you going objective CXXXX trait business, looking purposes be XXXX focused something to what for here is a because this CXXXX -- own with Camelina try you would developing trait

Oliver Peoples

the both Ben, really I one are at. science ag the platform the community interesting the mean of goal is industry in about these hasn't that entire is because the fact actually things looked things

that's really tool. the tribute And so to of power GRAIN this

get of of the one structured business way it's we because is, and something products plus. our that our of big works to of our -- in that's sort So relevant focus Camelina in trait Camelina the a kind the factory if we've business

have do and as particularly place. However, data obviously that certainly for believe get licensing will And similar seek And crops. do crops. there generate we other we'll of the of into hands traits in types those be data arrangements we have opportunities traits field to to we in that essentially interest it we some their in our in other

Ben Klieve

good for jump taking a I queue. leave. about I it’s will back place Thanks to question. this, talk just my I think, Oli. want it. Thanks to Got in

Oliver Peoples

to you while. thanks. So Ben, Good talk in a guys

good voice question. hear to your again and the So appreciate

Ben Klieve

pleasure. My

Lynne Brum

to back Maria you.

Operator

Instructions] [Operator

Lynne Brum

right move Maria then. ahead we'll

Operator

Great. Okay.

Lynne Brum

Thank you. Okay.

that week good a a saw that a you partner So question make The contributed was Biofuels shareholder Oli which before an oil that company. we wrap up published last could indicating Digest have article the and shareholders here goes. to came we for YieldXX from

as And here oil one. so source the a major YieldXX's are three Is align or the first capital shareholder the to of asked. strategic funding? companies objectives start with questions with I'll

Oliver Peoples

Yes.

for these So been company the from questions time. it pleased investor good we're to that he's the an in shareholders. was obviously some And get

a to will is diesel our of one objective which product very renewable of the business products Camelina-based strategic obviously terms high-growth high-value In for build space. be feedstock

a as goal strategic our that's company. So

essentially for compared given a far companies for in companies interest is crop. platform around in the and how our points particular of yield major of opportunity in and proof to to already that growth one the oil along we've and others we the secure many the biodiesel, given oils interesting of the really content do particularly given these production acres essentially Camelina oil that achieved of this first represent feedstock and However, we time feel involvement space in terms

think diligent or very we for company But any sure good do we the way for make as oil shall the that that form biofuel development companies. So to oil we in of we going a say shape a one also underwrite partner company. don't are making we be would supplier of these a about

going do have is frankly we're or will an to and if yes, the we capital opportunity to it company. involve there believe to this is and there funding essentially So,

Lynne Brum

thanks. Oli, Great.

The of type choice second of this YieldXX's partner? one technology right the make it aspects what is would for

Oliver Peoples

Yes.

it's -- already interesting were the So week from when begun or fuel on the low pushback at Association Manufacturers I've media you Grocery in look I'm to the to of and last carbon donuts standard the renewable complaining see the is paying the and some the attention compromised canola weather. things. of the crops be in oil bread this to other particularly going these season only are and where who about grow to going And price by or

Camelina. we an those So which Camelina interesting really actually oil but fact attributes very produces food. And in is can what crop protein is that has additionally useful produce second for the potential in think advanced being we're markets, a unique more these of

that. far it's are we development really along so And and an pretty in of exciting concept the

PHA the ultimately very economics do the for to and markets production attractive open new we high-value the be platform develop Camelina that underlying feel technology to to proposition. a encompassing plus of So farmers improve oil our trait up would

Lynne Brum

achieved was to set to to aspect Thanks, need YieldXX's validate solution critical any be question milestones in gene Oli. that Then Great. biofuels? that there the editing are third

Oliver Peoples

Yes.

as content on focus terms mostly really goods actually feedstock. mean in a the of is of we I oil comes -- what that to oil cost seed down which of biofuel that So

the targeted the really require example, oil haven't unsaturated the in amenable renewable then less modifying in treatment. it of diesel, for terms make hydrogen amount groups composition reducing will in that to the and more We oil hydro of

So it gone the in to demonstrated approval because it we've haven't And content we've we that. seed. up does the really deregulated. But already into more X% that it. we terms in scaling up traits, EXXXX are got got already of We've already oil oil for produce

believe we case foundation the is traits which good progressing of of a for So in new and in CXXXX also in CXXXX that CXXXX canola, And pretty all the Camelina. the us. are

Oliver Peoples

So move we'd to these closing with think like remarks. submitted And questions. thank who the shareholders just that to I'd I on to like

promising focused like track in for to about opportunities of for and on shareholders our joining We're build of reach everyone oil continued XXXX well into we we on the tonight half EPA-DHA for future from the commercialization the near-term of opportunities Have call you nice personally I'd of meal second to progressing us a ahead support. YieldXX goals In us for on business. want So our market elite omega-X as product thank and to thank as oil on especially, keeping us our in evening. all our excited the Camelina on I are as XXXX. at and your

Lynne Brum

Thanks, Maria for your help today.

Operator

everyone. Thanks,

may You now disconnect.

YIELD10 Bioscience (YTENQ) 12 Aug 212021 Q2 Earnings call transcript