Proactiveinvestors Australia Arcadia Biosciences Inc https://www.proactiveinvestors.com.au Proactiveinvestors Australia Arcadia Biosciences Inc RSS feed en Sun, 16 Jun 2019 20:45:37 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Small-Cap Snapshot: Comstock Mining shares climb on progress in Dayton gold and silver mining project ]]> https://www.proactiveinvestors.com.au/companies/news/201172/small-cap-snapshot-comstock-mining-shares-climb-on-progress-in-dayton-gold-and-silver-mining-project-201172.html Comstock Mining Inc (NYSEAMERICAN:LODE) shares climbed after the company announced progress in advancing its Dayton project, which contains the miner’s second-largest gold and silver mineral resource. The company has drilled 408 shallow holes totaling 30,819 feet, identifying mineralized structures covered by shallow alluvium that meaningfully improve the geological mapping of the area. CEO Corrado De Gasperis said a preliminary economic assessment report is due in the fourth quarter of 2018 and will confirm the company’s bet on its sprawling Dayton resource.

Shares in the Virginia City, Nevada. miner climbed 9.3% to US$0.24 in morning trade.

Vical Inc (NASDAQ:VICL) shares climbed after it announced that its board of directors planned to explore a range of strategic options to enhance shareholder value. The company said there’s “no set timetable” for the review process and there is no assurance that it will, in fact, result in a transaction. The San Diego, California-based company which develops vaccines for the treatment of infectious diseases said it anticipates ending 2018 with US$40mln in cash. The company’s anti-fungal drug VL-2397, is currently in a Phase 2 clinical trial.

Vical stock was up 8.5% to US$1.31.

READ: Arcadia Biosciences shares rally after key milestone developing extended-shelf-life tomatoes

Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped after the agricultural food ingredient company and India’s Shriram Bioseed, a leading research and hybrid seed development company, announced the achievement of a key milestone in developing Extended Shelf Life (ESL) tomatoes. The new hybrid tomatoes are in the pre-commercial, field testing stage in different geographies with an anticipated launch in 2019. Arcadia’s ESL technology was developed in part under a U.S. Department of Defense contract to develop longer-lasting fresh produce for field troops stationed in remote places. Arcadia received a patent for the technology in 2014.

Arcadia stock shot up 20% to US$8.20 in morning trade.

Tile Shop Holdings Inc (NASDAQ:TTS) shares soared after the stone tile retailer posted second-quarter earnings that handily beat Wall Street estimates on strong revenue. For the quarter ended June 2018, the tile retailer posted earnings of US$0.10 per share on revenue of US$92.9mln. The results topped Wall Street expectations for earnings of US$0.09 per share on revenue of US$90.5mln. Revenue grew 3.9% on a year-over-year basis.

Shares in the Plymouth, Minnesota-based company climbed 9.04% to US$9.05.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 19 Jul 2018 11:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201172/small-cap-snapshot-comstock-mining-shares-climb-on-progress-in-dayton-gold-and-silver-mining-project-201172.html
<![CDATA[News - Arcadia Biosciences shares rally after key milestone developing extended-shelf-life tomatoes ]]> https://www.proactiveinvestors.com.au/companies/news/201152/arcadia-biosciences-shares-rally-after-key-milestone-developing-extended-shelf-life-tomatoes-201152.html Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped Thursday in pre-market trade after the agricultural food ingredient company and India’s Shriram Bioseed, a leading research and hybrid seed development company, announced the achievement of a key milestone in developing Extended Shelf Life (ESL) tomatoes.

Bioseed has field tested Arcadia’s ESL technology in multiple tomato hybrid backgrounds in different geographies and seasons. The companies said significant and “consistent improvements in field yield and fruit quality,” such as firmness, shelf life and color, were observed.

The new hybrids are in the pre-commercial, field testing stage with an anticipated launch in 2019.

Arcadia stock shot up 18.5% to US$8.15 in premarket trade.

READ: Shares of Arcadia Biosciences climb after partnership with Farmer’s Business Network

“These new varieties will reduce waste and spoilage in the production cycle while ensuring that the produce is fully ripe, better tasting, and still fresh when it reaches consumers,” said Arcadia CEO Raj Ketkar. “This development is a significant commercial milestone in advancing Arcadia’s ESL tomato technology that adds value throughout the tomato supply chain, from farm to consumers.”

According to the US Environmental Protection Agency, in the US alone, food waste costs households an estimated US$166bn annually, and tomato food waste costs households US$2.3bn annually.

As the fourth-largest producer of tomatoes globally, India represents a significant market opportunity for ESL tomato technology.

“This trait is especially valuable in a country like India where fresh market tomatoes are mostly field grown and post-harvest handling and logistics are challenging,” said Paresh Verma, president of Bioseed Southeast Asia. “Besides reducing post-harvest losses, extended shelf life and improved field holding capacity of tomatoes will add tremendous value for farmers and other stakeholders in supply chain.”

Arcadia’s ESL technology was developed in part under a U.S. Department of Defense contract to develop longer-lasting fresh produce for field troops stationed in remote locations. Arcadia received a patent for the technology in 2014.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Thu, 19 Jul 2018 08:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201152/arcadia-biosciences-shares-rally-after-key-milestone-developing-extended-shelf-life-tomatoes-201152.html
<![CDATA[News - Shares of Arcadia Biosciences climb after partnership with Farmer’s Business Network ]]> https://www.proactiveinvestors.com.au/companies/news/199699/shares-of-arcadia-biosciences-climb-after-partnership-with-farmers-business-network-199699.html Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped Wednesday in pre-market trade after the agricultural food ingredient company forged a partnership with Farmer’s Business Network Inc. to expand the grower base of Arcadia’s family of specialty wheat varieties, GoodWheat.

This new collaboration enables the Farmer’s Business Network Direct inputs platform to distribute Arcadia’s identity-preserved GoodWheat seeds to growers in its network, aiming to increase farmer profitability over commodity wheat.

Shares in Arcadia jumped over 17% to US$9.09 within minutes of the market opening.

“With their commitment to innovation and growing network of premier farmers, the FBN network is an ideal partner to help us build capacity for our specialty wheat varieties,” said Arcadia CEO Raj Ketkar.

“Arcadia’s GoodWheat branded ingredients will provide consumers with healthier choices in their favorite foods, and the high demand for these premium products will enable improved economics for wheat growers,” he added.

READ: Arcadia Biosciences climbs on favorable trial results using its 'input traits' to boost rice crop yields

Farmers Business Network is a social network for farmers that invites them to share their data, pool their know-how, and bargain more effectively for better pricing from third parties.

“This important partnership with Arcadia provides our members access to grow specialty, identity-preserved GoodWheat and enables them to earn a premium over commodity wheat,” said Farmers Business Network CEO Amol Deshpande. “Together, we are working to improve the economics of wheat production for farmers and bring wheat buyers a unique high-value crop.”

Arcadia Biosciences develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. The company has various programs under development comprising fiber resistant starch wheat, whole grain flour, and reduced gluten wheat programs. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Wed, 27 Jun 2018 09:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199699/shares-of-arcadia-biosciences-climb-after-partnership-with-farmers-business-network-199699.html
<![CDATA[News - Arcadia Biosciences shares slump after organizing $14mln direct offering ]]> https://www.proactiveinvestors.com.au/companies/news/198722/arcadia-biosciences-shares-slump-after-organizing-14mln-direct-offering-198722.html Arcadia Biosciences Inc (Nasdaq: RKDA), an agricultural engineering company, is orchestrating a direct offering priced at the market.

It has entered into definitive agreements with several institutional investors for the purchase of 1,392,345 shares of its common stock at a purchase price per share of US$9.93. The deal will result in gross proceeds of about US$13.83mln.

In the wake of the announcement, Arcadia shares fell 9% to US$9.12 in early afternoon trade.

Based in Davis, California, Arcadia is an agricultural technology company that uses genetic engineering to increase farmers’ crop yields.

Arcadia hopes to use the money raised from the offering to scale up its GoodWheat Resistant Starch wheat production as well as to pay for its more general business needs.

Arcadia also agreed to issue to its investors unregistered warrants to purchase up to 1,392,345 shares of common stock, at a purchase price per warrant of US$0.125 for gross proceeds of about US$0.17m.

The closing of its offering is set to take place on June 14 and the deal will be subject to the usual closing conditions.

 

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Tue, 12 Jun 2018 11:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198722/arcadia-biosciences-shares-slump-after-organizing-14mln-direct-offering-198722.html
<![CDATA[News - Arcadia Biosciences climbs on favorable trial results using its 'input traits' to boost rice crop yields ]]> https://www.proactiveinvestors.com.au/companies/news/196576/arcadia-biosciences-climbs-on-favorable-trial-results-using-its-input-traits-to-boost-rice-crop-yields-196576.html Arcadia Biosciences Inc. (NASDAQ:RKDA) climbed after the agricultural food ingredient company announced that field trials results from the past two crop seasons showed what it termed "significant yield gains in rice" with three of Arcadia’s proprietary input traits stacked together.

Shares of Arcadia were up around 10% in late-morning trading Tuesday, at US$10.25 a share.

In the trials, which were conducted at the International Center for Tropical Agriculture (CIAT) in Colombia, multiple rice lines carrying Arcadia Biosciences' nitrogen use efficiency (NUE), water use efficiency (WUE) and salinity tolerance (ST) traits "outperformed appropriate control lines by an average of 25% under limiting nitrogen applications, when measured for yield, with the lead line yielding up to 33% more."

Arcadia Biosciences said the same lines "yielded an average of 40% more than controls under combined limiting nitrogen and drought conditions in the field, with the lead line showing 50% higher yield under multiple abiotic stresses."

Previous field trials in California by Arcadia had shown the potential for stacking these traits in rice as a tool to safeguard food security, the company said, "and the recent data from CIAT confirms that there may be synergistic effects between traits that protect crops against various abiotic stresses."

"These results indicate Arcadia’s rice crop can offer a new strategy to preserve yield from potential loss due to climate change," the company said.

Raj Ketkar, Arcadia president and CEO, said the results also show "that our agricultural productivity traits hold significant promise to help farmers globally as they deal with the effects of a variety of challenging growing conditions, such as nutrient-deficient soil, drought and salinity, enabling them to increase yields and improve farm revenue."

Arcadia noted that rice is the world’s most valuable crop, with an annual harvest value of around US$340bn. Americans eat an average of 26 pounds of rice annually, while Asians consume 300 pounds per year per capita. Global rice production in 2017 was 837.3mln tons, grown on 399mln acres worldwide, roughly equivalent to the surface area of Iran, the 17th largest country in the world.

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Tue, 08 May 2018 10:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196576/arcadia-biosciences-climbs-on-favorable-trial-results-using-its-input-traits-to-boost-rice-crop-yields-196576.html
<![CDATA[News - Arcadia Biosciences shares soar after announcing reduced-gluten products ]]> https://www.proactiveinvestors.com.au/companies/news/195180/arcadia-biosciences-shares-soar-after-announcing-reduced-gluten-products-195180.html Arcadia Biosciences, Inc. (NASDAQ:RKDA), an agricultural food ingredient company, announced plans to add its reduced-gluten wheat products to its GoodWheat portfolio.

Shares of the California-based company were up as high as 12% in pre-market action but scaled back to a more modest gain of about 1% to US$26.37 in intraday trading.

READ: Arcadia Biosciences trebles in value after successful development of high fiber resistant wheat

The U.S. National Institutes of Health’s Diabetes and Digestive and Kidney Disorders Institute granted the company a nearly US$2mln grant back in 2013 to develop grains for people with a gluten sensitivity.

The FDA estimates that around 3 million people in the US have celiac disease, which involves an immune reaction to gluten that causes inflammation in the lining of the small intestine.

“These proprietary wheat varieties, developed using advanced screening and plant breeding techniques, also give food processors an opportunity to differentiate their brands and create unique brand extensions,” said Raj Ketkar, CEO of Arcadia Biosciences, in a press statement.

Reduced-gluten bread wheat flour is expected to be available for commercial testing by the end of the year.

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Tue, 17 Apr 2018 10:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195180/arcadia-biosciences-shares-soar-after-announcing-reduced-gluten-products-195180.html
<![CDATA[News - Arcadia Biosciences trebles in value after successful development of high fiber resistant wheat ]]> https://www.proactiveinvestors.com.au/companies/news/193186/arcadia-biosciences-trebles-in-value-after-successful-development-of-high-fiber-resistant-wheat-193186.html Agritech firm Arcadia Biosciences Inc (NASDAQ:RKDA) announced Wednesday it has achieved “two key milestones” in its high fiber resistant starch wheat program, sending shares more than three times higher.

The stock has been on a run for the past week and soared another 261% to U$42.19 late on Thursday afternoon.

Health benefits linked to resistant starch

California-based Arcadia said it has successfully developed a non-transgenic variety of wheat which contains up to 94% amylose – the highest levels available.

To give that some context, amylose is one of the two components of starch (the other being amylopectin), generally making up around 20-30% of the carbohydrate.

Starch with higher levels of amylose is often referred to as resistant starch though, which studies have suggested can deliver “significant health benefits”, such as stimulating blood flow to the colon and increasing nutrient circulation.

Despite being similar to fiber, nutrition labels rarely take resistant starch into account, but Arcadia thinks that might be about to change.

Enough dietary fiber to satisfy FDA regs

The high-amylose resistant starch which it has developed deliver high enough levels of fiber for products using it to carry the “Good Source” of fiber or “High in Fiber” designation on their packaging.

“These milestones are key achievements in the commercial launch plan for our non-GM wheat ingredients portfolio, delivering health benefits to consumers and distinct market differentiators to consumer packaged goods companies,” said president and chief executive Raj Ketkar.

“Arcadia’s new wheat varieties will allow people to enjoy the foods they love with the health benefits of resistant starch and dietary fiber, while satisfying consumer demand for clean-label, natural foods.”

Already working with partners

Arcadia is already working with a handful or consumer packaged goods companies on new, healthier formulations of existing products which use its wheat.

Companies are also experimenting with its resistant starch wheat to try to simplify their ingredient labels as it contains naturally high levels of fiber, meaning added fiber sources such as inulin and cellulose aren’t required.

The firm said it was preparing to plant more crops during the upcoming wheat growing season to help it cope with demand.

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Wed, 14 Mar 2018 15:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193186/arcadia-biosciences-trebles-in-value-after-successful-development-of-high-fiber-resistant-wheat-193186.html