Yield10 Bioscience, Inc. (NASDAQ:YTEN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 11, 2020 • 04:30 pm ET

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Yield10 Bioscience, Inc. (NASDAQ:YTEN) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings. Welcome to the Second Quarter 2020 Financial Results and Business Update Conference for Yield10 Bioscience. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Yield10 Vice President of Planning and Corporate Communications, Lynne Brum. Thank you, ma'am. You may now begin.

Executive
Lynne Brum

Thank you, Donna, and good afternoon, everyone. Welcome to Yield10 Bioscience second quarter 2020 conference call. Joining me on the call today are President and CEO, Dr. Oliver Peoples; Vice President of Research and Chief Science Officer, Dr. Kristi Snell; and Chief Accounting Officer, Chuck Haaser.

Earlier this afternoon, Yield10 issued our second quarter 2020 financial results. This press release, as well as slides to accompany today's presentation, are available on the Investor Relations/Events section of our website at yield10bio.com.

Let's now turn to Slide 2. 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. The risks include risks and uncertainties detailed in Yield10's filings with the SEC, including the company's most recent 10-K. 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 Oli.

Executive
Dr. Oliver P. Peoples

Thanks, Lynne. Good afternoon, everyone, and thanks for joining our call. Today, we will provide an update on the solid progress we have made against our R&D and business objectives since the start of 2020, including a research license with GDM seeds. Kristi will then review the studies of our 2020 field test program and highlight some recent R&D activities.

I'll then provide an update on our Camelina business plan progress, review the financials and summarize our key milestones for 2020. We'll then open the call to questions from analysts.

Now, let's turn to Slide 3 - our business profile. As most of you know, Yield10 is an agricultural bioscience company focused on developing innovations for sustainable food security. This includes performance traits for licensing in major food and feed crops where we are building relationships with major ag companies and improved varieties of oilseed Camelina. Our Camelina activity is core to our trait gene discovery process and our platform for producing nutritional oils and PHA biomaterials. We have a strong leadership team and have operations in Woburn, Mass and Saskatoon, Canada.

Now, let's turn to Slide 4 - recent accomplishments. We've made considerable progress since our last call in early May, and I'll now highlight some of our accomplishments. We completed planting for our 2020 field test program, which Kristi will discuss in more detail. During the second quarter, we submitted an "Am