Cibus is an agricultural biotechnology company that develops gene-edited plant traits and licenses them to seed companies, which embed the traits into their own seed products and sell to farmers. Cibus earns royalties for every acre planted with seed containing a Cibus trait, paid by the seed company per bag sold or acre planted. Cibus bears only R&D costs; the seed company handles seed multiplication, registration, and distribution. The company's near-term priority is herbicide tolerance (HT) traits for Rice — its HT1 and HT3 traits allow Rice plants to tolerate the herbicide clethodim, giving farmers in Latin America and the U.S. an effective weed management tool where few have historically existed. Cibus has seven Rice seed company partners and targets commercial launches in Latin America in 2027 and the U.S. in 2028, with longer-term expansion into Asia. Cibus targets $30-$50/acre in royalties for its Rice HT traits in the U.S. and Latin America, and $2-$3/acre in Asia where volumes are larger. Alongside Rice, Cibus runs a biofragrance business using yeast fermentation to produce bio-based fragrance molecules for CPG companies, expected to generate initial revenues in 2026. Cibus' core technology, its Rapid Trait Development System, uses oligonucleotide-directed mutagenesis to edit directly into a seed company's own elite germplasm — inserting no foreign DNA — and returns edited plant material in roughly 12-15 months, bypassing years of conventional backcrossing. This non-transgenic approach means Cibus' traits are classified as non-GMO in the U.S., Canada, and several Latin American markets, avoiding the costly regulatory burden that GMO traits face.