Artificial Intelligence
Yield10 Bioscience Announces Fourth Quarter and Full Year 2019 Financial Results
WOBURN, Mass., March 19, 2020 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today reported financial results for the three and twelve months ended December 31, 2019.
“In 2019 we consistently met our milestones as we brought forward new crop traits in development, generated proof points, and expanded testing of our traits into additional crops,” said Oliver Peoples, Ph.D., president and chief executive officer of Yield10 Bioscience. “In 2020 we expect to advance our traits to achieve additional development milestones, continue to build relationships with major agricultural companies, and further demonstrate the commercial pathways for our performance traits.”“Our traits represent potentially game-changing technology in agriculture that could allow the development of new crops with advanced performance and compositional profiles. We reported encouraging data from our 2019 field tests, and planning is well underway to support our field testing program in Camelina and canola in the 2020 growing season. Our 2020 field tests will be configured with the objective of generating valuable research, agronomic, and field data that support the formation of collaborations and other opportunities for revenue generation.”“We are now well-positioned to capture value from our investments, capabilities, and performance in Camelina as a platform crop for producing specialty products including nutritional oils, as well as future products of commercial interest, such as PHA biomaterials for water treatment applications. Camelina has high upside potential and is readily segregated geographically from the major row crops so it is not expected to compete with acreage with elite corn or soybean. In 2019, we filed three new patent applications including the use of gene combinations to boost oil content in crops, and on breakthrough technology for making PHB biomaterials in Camelina which we are planning to field test in 2020. As we develop our business plan for the Camelina platform, we plan to pursue new opportunities for collaboration along the value chain.”“We have begun the transition into a development stage company, actively engaging in commercialization efforts by identifying partners and processes we believe will scale our business and position Yield10 for future growth. In 2019, we executed a critical component of our strategy working with major agricultural companies to test our yield traits in commercial crops. We expanded our research agreement with Bayer for evaluation of our C3004 trait in soybean and signed a research agreement with Simplot, a major, privately held food and agribusiness company, to test our novel traits in potato. Both of these are examples of market leaders deploying and testing our innovative performance traits in crops of commercial significance. In addition, we engaged with a major agricultural company to deploy six traits in corn and the first phase of this development was recently completed. Further, we have signed a new agreement with a seed company for the next phase of technical development to enable field trials with our traits in the future and to position the program for partnership going forward. In 2020, we expect the work executed through major agriculture companies to generate additional data and insights into deploying our traits in commercial crops,” said Dr. Peoples.Recent AccomplishmentsReported encouraging results for our field tests conducted in 2019 in the U.S. and Canada. See press release issued today for details.Outlined the plans for the 2020 field testing program including testing seed yield traits C3003 and C3004, oil boosting traits CRISPR genome-edited C3007 and the triple edit trait (C3008a, C3008b,C3009), and the compositional trait for PHB.Completed early development milestones in the Corn Program in early 2020 and secured an agreement with a major agriculture company to advance the corn lines.Identified and began development of eight new seed yield/oil content traits in CamelinaAppointed Sherri M. Brown, Ph.D., to the Board of Directors. Dr. Brown will also serve as the chair of the newly formed Science and Technology Committee of the Board.Strengthened the balance sheet raising approximately $10.2 million in net proceeds in an equity offering completed in November 2019.Expanded our research agreement with Bayer for evaluation of a new discovery related to the C3004 yield trait gene in soybean.Signed a new research agreement with J. R. Simplot Company to evaluate novel new traits to produce high yielding, sustainable potato crop.FULL YEAR AND FOURTH QUARTER 2019 FINANCIAL OVERVIEWCash PositionYield10 Bioscience is managed with an emphasis on cash flow and deploys its financial resources in a disciplined manner to achieve its key strategic objectives.Cash used by operating activities during 2019 was $8.7 million, a decrease of $0.1 million from the $8.8 million used in operating activities during 2018. During 2019, Yield10 completed securities offerings, raising a total of $12.8 million, net of offering costs. As a result, the Company ended 2019 with $11.1 million in unrestricted cash, cash equivalents and short-term investments. Yield10 also received an additional $1.6 million from investor warrant exercises that were completed during early 2020. The Company anticipates net cash usage during 2020 in a range of approximately $9.0 million to $9.5 million.The Company’s present capital resources, including funds received from its 2019 offerings and recent warrant exercises, are expected to fund its planned operations into the second quarter of 2021. Yield10’s ability to continue operations after its current cash resources are exhausted depends on its ability to obtain additional financing, including public or private equity financing, secured or unsecured debt financing, and receipt of additional government research grants, as well as licensing or other collaborative arrangements.Operating ResultsResearch grant revenue for the year ended December 31, 2019 was $0.8 million, compared to $0.6 million recorded in the previous year. Research and development expenses were consistent at $4.8 million for both 2019 and 2018. General and administrative expenses were $4.6 million and $5.1 million for the years ended December 31, 2019 and 2018, respectively.Yield10 reported a loss from operations of $8.6 million for the full year 2019 as compared to a loss from operations of $9.3 million in 2018. For the year ended December 31, 2019, the Company reported a net loss of $13.0 million, or $35.50 per share, which compares to a net loss of $9.2 million, or $36.99 per share, for 2018. The increase in net loss of $3.8 million in 2019 is the result of non-cash and other charges related to the Company’s securities offering completed in November 2019 and reported under other income (expense) as described below.Total research grant revenues were consistent at $0.1 million during the fourth quarters of 2019 and 2018. Research and development expense increased by $0.1 million from $1.1 million in the fourth quarter of 2018 to $1.2 million in the fourth quarter of 2019. General and administrative expenses increased by $0.5 million from $0.9 million during the fourth quarter of 2018 to $1.4 million in the fourth quarter of 2019.Yield10 reported a loss from operations of $2.4 million for the fourth quarter of 2019, compared to $1.9 million in the fourth quarter of 2018. The Company also reported a net loss of $6.8 million, or $12.02 per share, for the fourth quarter of 2019, compared to a net loss of $1.9 million, or $7.43 per share, for the fourth quarter of 2018. The increase in net loss of $4.9 million during the quarter ended December 31, 2019 is the result of the charges related to the November securities offering.Other Income (Expense)During November 2019, Yield10 completed concurrent public and private offerings of its securities, raising $10.2 million, net of offering costs of $1.3 million. The Company reviewed applicable accounting guidance as it relates to the various elements of the two offerings and determined that the warrants issued in both offerings should be reported at their fair value and classified as liabilities within the Company’s balance sheet. As a result, Yield10 reported a non-cash charge of $13.0 million during the three and twelve months ended December 31, 2019, for the difference between the fair value of the warrants on their issuance date and the cash proceeds received from the offerings. At December 31, 2019, the Company recalculated the fair value of the warrants, as required by accounting standards, and recorded a non-cash gain of $9.5 million as a result of a decline in their fair value. The Company also recorded the $1.3 million in offering costs within other income (expense) for the three and twelve months ended December 31, 2019.Reverse Stock SplitYield10 completed a 1-for-40 reverse stock split of its common stock on January 15, 2020, in order to regain compliance with the Nasdaq Stock Market minimum bid price qualification of $1.00 per share as required by Nasdaq Listing Rule 5550(a)(2). In accordance with applicable accounting guidance, all share amounts, per share data, share prices and conversion rates set forth in the Company’s 2019 and 2018 consolidated financial statements, including those presented in this earnings release, have been retroactively adjusted to reflect the reverse stock split.Conference Call InformationYield10 Bioscience management will host a conference call today at 4:30 p.m. (ET) to discuss the fourth quarter and full year 2019 results. The Company also will provide an update on the business and answer questions from the investor community. A live webcast of the call with slides can be accessed through the Company’s website at www.yield10bio.com in the investor relations events section. To participate in the call, dial toll-free 877-709-8150 or 201-689-8354 (international).To listen to a telephonic replay of the conference call, dial toll-free 877-660-6853 or 201-612-7415 (international) and enter pass code 13699663. The replay will be available until April 2, 2020. In addition, the webcast will be archived on the Company’s website in the investor relations events section.About Yield10 BioscienceYield10 Bioscience, Inc. is an agricultural bioscience company developing crop innovations to improve crop yields and enhance sustainable global food security. The Company utilizes its proprietary “GRAIN“ (Gene Ranking Artificial Intelligence Network) gene discovery platform to identify gene targets to improve yield performance and value in major commercial food and feed crops. Yield10 uses its Camelina oilseed platform to rapidly evaluate and field test new trait leads enabling the translation of promising new traits into the major commercial crops. As a path toward commercialization, Yield10 is pursuing a partnering approach with agricultural companies to drive new traits into development in crops such as canola, soybean and corn. The Company is also developing Camelina as a platform crop for producing nutritional oils and specialty products such as PHA biomaterials for use in water treatment applications. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn.
(YTEN-E)Safe Harbor for Forward-Looking StatementsThis press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, expectations regarding Yield10’s cash position, cash forecasts and runway, ability to obtain sufficient financing to continue operating, expectations related to research and development activities, collaborations, intellectual property, the expected regulatory path for traits, reproducibility of data from field tests, the timing of completion of additional greenhouse and field test studies, the signing of research licenses and collaborations, and value creation as well as the overall progress of Yield10 Bioscience, Inc., constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Yield10 Bioscience’s filings with the Securities and Exchange Commission. Yield10 Bioscience assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.Contacts:Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, [email protected] Investor Relations:
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IRMedia Inquiries:
Eric Fischgrund, [email protected]
FischTank Marketing and PR(FINANCIAL TABLES FOLLOW)
Artificial Intelligence
Flat Ads Makes Its Mark at DMEXCO 2024: Showcasing Strength in Programmatic Advertising
COLOGNE, Germany, Sept. 20, 2024 /PRNewswire/ — In September, Flat Ads makes its mark at DMEXCO 2024, the prestigious European event of digital marketing and technology. The highly successful exhibition boasts 650 exhibitors, 850 speakers, and thousands of participants. At the event, Flat Ads showcased the strength of programmatic advertising platform in ad delivery, traffic optimization, and brand safety.
Flat Ads programmatic advertising platform has an exclusive developer traffic of 700 million and an extensive network spanning over 200 countries and regions worldwide. It cooperates with over 200 leading DSP/SSP partners, including FreeWheel, PubMatic and Criteo, leveraging an efficient and complete bidding system, as well as automatic delivery algorithms, to achieve precise marketing and advertising effectiveness maximization.
With its exclusive platform strategy algorithm, Flat Ads programmatic advertising platform can continuously conduct automatic exploration and matching based on the characteristics of DSP and traffic, optimize and adjust the algorithm model in real-time. This not only ensures the sustainability of DSP budgets, but also maximizes traffic utilization and enhances monetization revenue of advertisements.
Moreover, brand protection is among the top priorities of Flat Ads. In addition to accessing to authority agency Pixalate to test the effectiveness of ads, it has also accessed HUMAN, the global cybersecurity authority to safeguard its clients by preventing bot attacks, digital fraud and abuse, ensuring a stable, reliable, and secure programmatic advertising transaction platform.
By participating in DMEXCO 2024, Flat Ads showcased its outstanding strength and fruitful achievements in the programmatic advertising field, attracting the attention of numerous advertisers and developers for cooperation. Flat Ads boasts not only robust technical capabilities and innovative prowess, but also an active and open attitude towards emerging technologies, embracing and exploring them. It remains committed to providing more professional and efficient global marketing services to advertisers and developers worldwide, helping clients stand out in the fiercely competitive market and achieve business growth.
As a globally leading mobile advertising marketing platform, Flat Ads currently operates offices in Singapore, Indonesia, Hong Kong, and Guangzhou, serving over 1000 clients with global marketing solutions. If you’re interested in Flat Ads’ programmatic advertising services, please visit www.flat-ads.com.
View original content:https://www.prnewswire.co.uk/news-releases/flat-ads-makes-its-mark-at-dmexco-2024-showcasing-strength-in-programmatic-advertising-302253872.html
Artificial Intelligence
Fraud Detection & Prevention Market to Reach $252.7 Billion, Globally, by 2032 at 24.3% CAGR: Allied Market Research
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market.
PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Fraud Detection & Prevention Market by Component (Solution and Service), Deployment Mode (On-Premises and Cloud), Organization Size (Large Enterprises and Small and Medium-sized Enterprises) and Industry Vertical (BFSI, IT and Telecom, Retail, Healthcare, Government and Defense, Manufacturing, Transportation and Logistics and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the “fraud detection & prevention market” was valued at $29.5 billion in 2022, and is projected to reach $252.7 billion by 2032, growing at a CAGR of 24.3% from 2023 to 2032.
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological advancements are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the high cost of fraud detection and prevention solutions limits the growth of the fraud detection & prevention market.
Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/2142
The solution segment held the highest market share in 2022.
By component, the solution segment dominated the market in 2022, this dominance is driven by the increasing demand for advanced technological solutions that can effectively detect, monitor, and prevent fraudulent activities across various industries such as banking, e-commerce, and insurance. Solutions like AI-based fraud detection, machine learning algorithms, and behavioral analytics have become critical tools in identifying potential fraud in real time and reducing financial losses. However, the service segment is expected to witness the largest CAGR of 28.0%, this growth is driven by the increasing need for specialized services such as consulting, implementation, and maintenance to help organizations effectively integrate and optimize fraud detection solutions.
The BFSI segment held the highest market share in 2022.
By industry vertical, the BFSI segment accounted for the largest share in 2022. This is primarily due to the high frequency and sophistication of fraud targeting financial institutions, making fraud detection and prevention solutions a critical need in the BFSI sector. Financial transactions, online banking, and digital payments are particularly vulnerable to cyberattacks, phishing schemes, and identity theft, driving the sector’s substantial investment in advanced fraud detection technologies. However, the retail segment is expected to witness the largest CAGR of 32.7%. This anticipated growth is driven by several factors. Retailers are increasingly targeted by fraudsters due to the high volume of transactions and the sensitivity of customer data involved. As e-commerce and digital transactions expand, the need for advanced fraud detection and prevention solutions becomes more critical.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/2142
Regional Insights: The North America region held the highest market share in 2022.
By region, the fraud detection & prevention market was dominated by North America in 2022. North America, particularly the U.S., has a highly developed financial and technological infrastructure that supports advanced fraud detection solutions. The region’s significant investments in cybersecurity and fraud prevention technologies, combined with a high incidence of cyber threats, drive continuous innovation and adoption of sophisticated fraud management systems.
Buy this Complete Report (415 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/fraud-detection-and-prevention-market/purchase-options
Key Industry Developments
In February 2024, the U.S. Department of the Treasury announced that it has recovered over $375 million as a result of its implementation of an enhanced fraud detection process that utilizes Artificial Intelligence (AI) at the beginning of Fiscal Year 2023.In April 2024, Cognizant collaborated with FICO, to launch a cloud-based real-time payment fraud prevention solution powered by FICO Falcon Fraud Manager. The joint offering would leverage both firms’ artificial intelligence (AI) and machine learning (ML) technology to help banks and other payment service providers in North America protect their customers from fraud in the growing world of instant digital payments.In September 2022, Deutsche Bank collaborated with Visa, to help prevent online retail fraud. Merchants who process their e-commerce payments via Deutsche Bank can now use “Decision Manager,” an automated fraud detection system from Visa-owned company Cybersource.AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int’l: +1-503-894-6022Toll Free: +1-800-792-5285UK: +44-845-528-1300India (Pune): +91-20-66346060Fax: [email protected]
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/fraud-detection–prevention-market-to-reach-252-7-billion-globally-by-2032-at-24-3-cagr-allied-market-research-302253960.html
Artificial Intelligence
G42 Collaborates with NVIDIA to Deliver Next-Generation Climate Solutions Using Earth-2
ABU DHABI, UAE, Sept. 20, 2024 /PRNewswire/ — G42, a leader in AI and cloud computing, today announced that it is partnering with NVIDIA to advance climate technology with a focus on developing AI solutions aimed at dramatically enhancing the accuracy of weather forecasting globally.
The collaboration builds on NVIDIA’s Earth-2, an open platform that accelerates climate and weather predictions with interactive, AI-augmented, high-resolution simulation. G42 and NVIDIA will initially focus on a square-kilometer resolution weather forecasting model that improves the accuracy of meteorological predictions.
Key to this initiative is the establishment of a new operational base and Climate Tech Lab in Abu Dhabi. This state-of-the-art facility will serve as a hub for research and development, driving forward both companies’ commitment to environmental sustainability. This facility will also mobilize the creation of tailored climate and weather solutions that leverage over 100 petabytes of geophysical data assets.
Peng Xiao, Group CEO of G42, said, “This initiative with NVIDIA is a testament to our commitment to applying AI in ways that not only innovate but also solve critical global challenges. Establishing the Earth-2 Climate Tech Lab in Abu Dhabi allows us to leverage our unique capabilities and insights to foster a sustainable future for the world.”
In addition to fostering innovation in climate technology, the initiative will focus on building a robust framework for integrating enhanced weather prediction capabilities with comprehensive data metrics and visualization. This will assist organizations worldwide in achieving their sustainability goals through well-informed, data-driven environmental strategies.
“Our collaboration with G42 marks a pivotal step toward harnessing AI to understand and predict climate phenomena with unprecedented accuracy,” said Jensen Huang, founder and CEO of NVIDIA. “The Earth-2 Climate Tech Lab will propel environmental solutions using the most advanced accelerated computing and AI technology to benefit millions of people around the world.”
By uniting G42’s AI expertise with NVIDIA’s computational acumen, this partnership aims to deliver transformative climate solutions that combine scientific accuracy with real-world applicability, driving impactful change across industries and ecosystems.
About G42
G42 is a technology holding group, a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today. To know more visit www.g42.ai.
Media contactsMedia and PR Team, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/g42-collaborates-with-nvidia-to-deliver-next-generation-climate-solutions-using-earth-2-302253818.html
-
Artificial Intelligence4 days agoDATAMARK Technologies Applauded by Frost & Sullivan for Advancing Location Determination Capabilities and Data Accuracy with Its Improved GIS and Indoor Mapping Solution
-
Uncategorized7 days agoSUBBD and Luna PR Join Forces to Shape the Future of AI-Powered Content Creation
-
Artificial Intelligence7 days agoGlobal AI Summit 2024 continued to transform data and AI landscape on final day
-
Artificial Intelligence7 days ago
Sinch calls for early redemption of outstanding bonds 2019/2024
-
Artificial Intelligence4 days agoLab Automation Market to Reach $11.31 Billion by 2031, Driven by Rising Pharmaceutical & Biotech R&D Expenditures and Increasing Demand for Automated Laboratories and Instruments – Report by Meticulous Research®
-
Artificial Intelligence7 days agoIT Operations Analytics (ITOA) Market worth $127.4 billion by 2029- Exclusive Report by MarketsandMarkets™
-
Artificial Intelligence7 days agoUST Launches ‘UST Retail GenAI platform’ – Transforming Retail Operations with Generative AI-Driven Solutions
-
Artificial Intelligence7 days agoTelecommunications and BFSI Customer Engagement Solutions Market to Reach $16.1 billion, Globally, by 2032 at 8.7% CAGR: Allied Market Research
