Cibus, Inc.

Please also note today's event is being recorded. At this time, I would like to turn the conference over to Carlo Bruch, Interim Chief Financial Officer. Please go ahead.

Thank you and good afternoon. I would like to thank you for taking time to join us for the second quarter 2025 Financial Results and Business Update conference call and webcast. Presenting with me today is Peter Beethem, co-founder, interim chief executive officer, president and COO, and Greg Gochel, co-founder and our chief scientific officer. Before we begin the call, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results, and future operational goals and industry prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to CBIS SEC findings for a list of associated risks. This conference call is being webcast. The webcast link, along with our press release and corporate presentation, are available on the investor relations section of cbis.com to assist you in your analysis of our business. And with that, I would now like to turn the call over to Peter.

Thanks, Carlo, and good afternoon to everyone. I'd like to start today's call to recognize that our team here at CBUS remains laser-focused on delivering our targeted near-term revenues. Our second quarter demonstrates continued execution toward our commercial objectives. with clear progress across our focus programs in rice and partner funded and or supported sustainable ingredients, including bio fragrances that are positioning SEBAS to begin recognizing initial revenue in 2026. Every quarter we are getting closer to that pivotal initial revenue moment through tangible commercial progress, which includes successful field trials, milestone achievements, regulatory clearances, and direct customer engagement. The path to revenue is really clear. Let me be even more specific about what we're building toward. Our RISE server-side tolerance traits, HT1 and HT3 alone, represent over $200 million in potential annual royalty revenue across our initial target geographies in the United States and Latin America. These traits are progressing on schedule toward targeted initial launches in Latin America beginning in 2027 and expanding to the United States in 2028, which would generate initial royalty revenue and set the stage for further opportunities in the immense global rice feed market. This pursuit doesn't represent a distant aspiration. Rather, this is the reality of our near-term commercial opportunities. We believe we are developing a new industrial plant breeding platform. We have traits moving into customer germplasm. We're seeing positive results in field trials, and we're witnessing an increasingly accepting global regulatory environment that's opening doors for customer engagement and market penetration opportunities that simply didn't exist before. As we advance towards revenue generation, we're taking a disciplined and strategic approach to capital allocation that maximizes our near-term commercial opportunities while preserving the significant value we've created across our broader trade portfolio. The streamlined operational focus we just announced in July concentrates our resources on our rice herbicide tolerance traits partner funded and or supported sustainable ingredients programs, including bio fragrances. These are our nearest term revenue opportunity drivers with the clearest, most efficient path to market. This calibrated focus is designed to reduce our annual cash usage to approximately a net $30 million by 2026, extending our runway while positioning us to capture the significant revenue opportunity ahead of us. That said, we have invested substantial resources and expertise in developing a portfolio of opportunity pipeline traits and programs that includes highly valuable productivity traits across multiple crops. We are actively in pursuit of partner funded projects for these traits until such time as our capital resources are sufficient to efficiently support more robust development efforts. I will now take a few moments to discuss our priority programs and recent regulatory progress before passing it over to Greg to discuss our opportunity pipeline traits and programs in more detail. Starting with our RICE platform, which is our number one priority pipeline trait and foundation for near-term revenue generation, We continue to make significant progress with trait integration, field trials, and registration activities, each of which are on track to meet our targeted commercial timelines. This quarter, we also achieved a key milestone by completing edits and delivering stacked traits containing our HT3 trait to a second US partner. Our customer momentum continues to build significantly. Recently, we signed an agreement with Semilano, a Colombian-based Latin American rice seed company, marking our fifth customer in the Americas. The greater penetration of Latin America is particularly exciting, both with large and small participants, as these markets have historically lacked access to advanced weed management solutions in rice. Representing a transformative opportunity for SEBAS, to drive value for farmers in these key regions with our gene-edited HT traits. What's driving this commercial interest is our standardized platform that enables us to edit customers' elite germplasm and return it with specific traits in approximately 12 to 15 months. This represents a fundamental breakthrough that intersects with agriculture's important plant breeding programs, which as I've said before, are the engine room of genetic innovation for the seed industry. Seed companies are coming to us because they recognize this creates a dependable model for trait development that is unlike anything the seed industry has seen before. This is the recognition that our rapid trait development system accelerates the adoption of gene-edited traits into their best genetics faster than modern trait integrations. Field trial programs for rice are progressing as planned across our customer base, and we continue to advance trait registration activities that are essential for our Latin American launch, targeted for 2027, 2028, and subsequent U.S. commercialization targeted for 2028. We also expect to initiate our first trait validation trials in Latin America later this year, with delivery of initial HT traits to Latin American customers anticipated by year end. Our partner-funded and supported sustainable ingredients program continues to serve as a complementary near-term revenue opportunity driver. We remain on track to nominal revenues from our biofragments products beginning later this year with targeted commercial expansion ramping in 2026. This quarter, we successfully completed first stage scale-up of two BioFragrance products, supporting our expectations for realising revenues from this program. The BioFragrance program continues to meet development milestones and demonstrates the versatility of our core capabilities in creating value beyond our crop productivity traits. What's exciting about this area is the strong interest for bio-based products we're seeing from the consumer packaged goods industry. The industry is very interested in our ability to provide fragrances and other products that they previously had to source through either expensive natural processes or synthetics. We expect the revenue ramp to accelerate in this area over the next few years, providing a near-term offset to expenses as we advance our rice traits towards commercialisation. Now, shifting over to the regulatory front, We continue to see acceptance of gene editing technologies that is fundamentally changing the commercial landscape and the opportunity set for innovators such as Phoebus. While the EU Trilog discussions have extended beyond their initial June 30th target this year, I want to emphasize that this process, while delayed, has not stalled and customers remain engaged and excited about the opportunity that awaits. The Trilog is a highly iterative process involving detailed committee workstreams and negotiations among individual member countries, the Parliament and the Commission. These discussions are actively progressing and we believe resolution will occur within the next six months. When completed, this will represent an incredible moment for our industry, one in which CBIS is uniquely positioned to benefit from due to our positive regulatory track record and commercial ready traits. The transition from Polish to Danish EU Council presidency has brought fresh momentum, with Danish officials having clear visibility on the specific outstanding items requiring resolution. This regulatory advancement, combined with our recent positive determination in Ecuador, ongoing approvals across North and South America, and continued regulatory clarity in India and parts of Asia is creating a foundation to market our traits globally. These regulatory developments across multiple geographies significantly strengthen the commercial opportunity for our trait pipeline and serve as important catalysts for our business. And with that, I will now pass the call over to Greg to discuss our opportunity pipeline traits and programs. Greg?