WOBURN, Mass. - The U.S. Environmental Protection Agency (EPA) has approved an amendment to the label of INTERLINE® Herbicide, a product marketed by UPL Ltd., to include the oilseed Camelina sativa (Camelina), as announced by Yield10 Bioscience, Inc. (OTC:YTEN) today.
This regulatory update enables the application of INTERLINE®, which contains the active ingredient glufosinate, for over-the-top weed control in fields of Camelina, a crop increasingly cultivated in North America for biofuel feedstock oil.
Camelina, part of the Brassicaceae family, is being developed by Yield10 Bioscience as a platform crop for producing various seed products, including omega-3 oils for human and animal nutrition and aquaculture. The company has engineered both spring and winter varieties of Camelina to be tolerant to glufosinate, a non-selective herbicide.
The EPA's decision follows the determination by USDA-APHIS's Biotechnology Regulatory Services (BRS) in November 2023 that Yield10's glufosinate-tolerant Camelina is not subject to regulation under 7 CFR part 340 regulations. The recent amendment to the herbicide's label allows growers to use INTERLINE on these genetically engineered varieties in the United States, subject to state registrations.
Dr. Kristi Snell, Chief Science Officer and Vice President of Research at Yield10, expressed appreciation for UPL's efforts to include Camelina on the INTERLINE herbicide label, highlighting the importance of effective weed control methods for the large-scale adoption of Camelina as a commercial crop in North America.
Yield10 Bioscience is an agricultural bioscience company focused on developing sustainable seed products from Camelina for various applications, including renewable diesel and sustainable aviation biofuels. The company is headquartered in Woburn, MA, with a subsidiary in Saskatoon, Canada.
The information in this article is based on a press release statement from Yield10 Bioscience, Inc.
InvestingPro Insights
Amidst the promising developments with the EPA's label amendment for INTERLINE® Herbicide, Yield10 Bioscience Inc.'s financial health and market performance provide a broader context for investors. The company currently has a market capitalization of approximately $1.47 million, reflecting its size within the biotechnology and agricultural sectors.
Yield10's revenue for the last twelve months as of Q1 2024 stands at $0.3 million, indicating challenges in revenue growth with a decrease of 16.9%. Nonetheless, a significant quarterly revenue growth of 400% in Q1 2024 suggests potential for fluctuations in sales performance.
An InvestingPro Tip indicates that analysts are anticipating sales growth in the current year for Yield10, which could align with the company's recent regulatory advancements and product developments.
Still, the same analysts do not expect the company to be profitable this year, and the company's price has performed poorly over the last month, with a 62.87% decrease. This could be of particular interest to investors tracking the company's ability to capitalize on its recent EPA approval for the biofuel feedstock oil market.
For investors considering Yield10 Bioscience as a potential addition to their portfolios, the InvestingPro Tips also caution that the stock is currently in oversold territory according to the Relative Strength Index (RSI), and the company is quickly burning through cash.
With short-term obligations exceeding liquid assets, financial stability is a key area to monitor. Interested investors can find a total of 17 InvestingPro Tips on Yield10, which provide deeper insights into the company's financial and operational status. To access these valuable insights, visit https://www.investing.com/pro/YTEN and consider using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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