{"id":379629,"date":"2020-11-12T08:04:30","date_gmt":"2020-11-12T13:04:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379629"},"modified":"2020-11-12T08:04:30","modified_gmt":"2020-11-12T13:04:30","slug":"arcadia-biosciences-rkda-announces-third-quarter-2020-financial-results-and-business-highlights","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-third-quarter-2020-financial-results-and-business-highlights\/","title":{"rendered":"Arcadia Biosciences (RKDA) Announces Third-Quarter 2020 Financial Results and Business Highlights"},"content":{"rendered":"
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— Executes strategic transaction with Bioceres Crop Solutions (BIOX), bringing $8 million in up-front and contingent cash, 1.875 million BIOX shares and trait royalties of up to $10 million on HB4\u00ae soybean sales<\/h2>\n

— Completes acquisition of Industrial Seed Innovations, expanding GoodHemp\u2122 portfolio<\/h2>\n

— Launches multiple products on-line and in grocery stores with Three Farm Daughters to bring GoodWheat\u2122 to consumers<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n DAVIS, Calif.<\/span>, Nov. 12, 2020<\/span> \/PRNewswire\/ —\u00a0Arcadia Biosciences, Inc.<\/a>\u00ae<\/sup>\u00a0(Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today released its financial and business results for the third quarter of 2020.<\/p>\n

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“I am pleased to report Arcadia<\/span> has achieved a number of fundamental milestones, resulting in a stronger financial wherewithal to achieve our number one goal: driving near-term shareholder value by unlocking the full potential of our commercial-ready products,” said Matthew Plavan<\/span>, Arcadia’s<\/span> president and CEO. “Through a series of strategic transactions we’re announcing today with our business partner Bioceres Crop Solutions (BIOX), commercialization of the HB4\u00ae<\/sup><\/i><\/b> soybean business and distribution of our GoodWheat portfolio of products into South and Central America<\/span> is now in their capable hands, in exchange for cash, shares of BIOX and ongoing royalty payments to Arcadia<\/span> for both HB4 soybean and GoodWheat sales.” <\/p>\n

Continued Plavan, “Bioceres is the perfect commercial steward to advance the HB4 soybean into global markets, and we are delighted to share in the equity and revenue upside of the business while dedicating all of our time, attention and capital resources to the near-term scale-up of our GoodWheat and GoodHemp-branded products.\u00a0 With the formal U.S. launch of Three Farm Daughters brand products powered by GoodWheat and the completion of our acquisition of Industrial Seed Innovations (ISI) and its popular hemp seed varieties, we have plenty of momentum to capitalize on.”\u00a0 <\/p>\n

\n Recent Operating and Business Highlights<\/b>\n <\/p>\n