Yield10 Bioscience, Inc.

Welcome to the second quarter 2021 financial results and business update conference call for Yield 10 Bioscience. During the call, participants will be in a listen-only mode. The presenters will address questions from analysts today. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference call is being recorded. I would now like to turn the conference call over to your host, YIELD 10 Vice President of Planning and Corporate Communications, Lynn Broom. Please go ahead.

Thank you, Maria. Good afternoon, everyone. Welcome to YIELD 10 Bioscience second quarter 2021 conference call. Joining me on the call today are President and CEO, Dr. Oliver Peoples, Vice President of Research and Chief Science Officer, Dr. Christy Snell, and Chief Accounting Officer, Chuck Hazzard. Earlier this afternoon, Yield10 issued our second quarter 2021 financial results. This press release, as well as slides that accompany today's presentation, are available on the investor relations events section of our website at yield10bio.com. Let's now turn to slide two. Please note that as part of our discussion today, management will be making forward-looking statements. These statements are not guarantees of future performance, and therefore you should not place undue reliance on them. Investors are also cautioned that statements that are not strictly historical constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results to differ materially from those anticipated. These risks include risks and uncertainties detailed in Yield 10's filing with the SEC. The company undertakes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this conference call. Now I'll turn the call over to Ali.

Thanks, Lynn. Good afternoon, everyone, and thanks for joining our call. Since the start of 2021, we have made strong progress advancing Yield 10's business. Today, I'll provide an update on our progress, and Christy will highlight our recent R&D accomplishments. I'll then review our target markets, the second quarter financials, and summarize key milestones for 2021 and beyond before we open the call to questions. Now, let's turn to slide three, the Yield 10 trade factory and business model. Data generated from our trade factory field trials with camelina enables two distinct revenue opportunities. Improved camelina varieties for our camelina product business and trade licensing to major seed companies for other crops. Today, I'd like to focus on the key accomplishments against our strategic goal to use camelina as a platform crop to produce feedstock oils, EPA plus DHA omega-3 oils, DHA bioplastics, and protein meal, where we estimate a combined product revenue potential of over $4 billion by 2030. Let's now turn to slide four, key accomplishments. During this quarter, we continue to develop and execute our Camelina business strategy. This includes reaching out to potential partners in the areas of fuel, food, and bioplastic to explore ways of working together to bring forward products produced in Camelina. On the technology front, we are executing our field trial program including field work in Argentina as a first step to access the market for aqua feed in Chile. These activities across the US, Canada, and Argentina are progressing towards harvest. To support our commercial efforts, we plan to build a network of contractors for seed scale-up activities, as well as for seed crushing to produce oil and meal for customer sampling. We announced two new hires in regulatory affairs and in business analytics and operations in June. We will continue to add key hires in particular to lead our seed operations and build out our commercial team in the months ahead. Our crop science team, led by Christy, has expanded our trade portfolio with the discovery and initial testing of four new oil content trades using our grain platform. In January, we reported achieving a proof-of-concept milestone for producing PHA bioplastic in field-grown camelina and seed scale-up of the best lines are ongoing as part of this year's field program. In first quarter, we strengthened our balance sheet to extend our cash runway and achieve value-building milestones into 2023. U.S. patents have recently been allowed or granted for two in-license traits, including the C3007 oil content trait and the Camelina Omega-3 DHA EPA oil trait. And a U.S. patent for our C3006 synthetic biology trait was granted in July. For an update on our R&D priorities, I'll now turn the call over to Christy.