Bonitas Research (“Bonitas”) issued a report on June 4, 2024, alleging that it had “found no evidence that Cibus’ gene-editing technology brings desirable new crops to market.” Bonitas asserted that it had found “farmer complaints of lower crop yields and lost revenues, along with multiple examples of large seed manufacturers and distributors walking away from joint ventures and partnerships with Cibus for a variety of seed types and seed traits.”

Following this news, Cibus’s stock price dropped over 12% the same day.