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Ceres Continues Realignment Toward Food and Feed Markets and Biotech Traits
Date : 06/19/2015 @ 7:45AM
Source : PR Newswire (US)
Stock : Ceres, Inc. (MM) (CERE)
Quote : 2.17  0.0 (0.00%) @ 8:10AM
                    §
Ceres Continues Realignment Toward Food and Feed Markets and Biotech Traits
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Ceres, Inc. (MM) (NASDAQ:CERE)
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Today : Friday 19 June 2015
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THOUSAND OAKS, Calif., June 19, 2015 /PRNewswire/ -- Ceres, Inc. (Nasdaq: CERE), an agricultural biotechnology company, today announced the continued realignment of its business to focus on food and forage opportunities and biotechnology traits for sugarcane and other crops. As part of the realignment, the company will restructure its Brazilian seed operations and is exploring discussions with additional local partners and collaborators to support the continued development and commercialization of its technology in Brazil.

Earlier this year, the company announced that due to the economic challenges faced by the Brazilian ethanol industry as well as changes in the global energy market, it had expanded the number of market opportunities available for its technology and products and began prioritizing its working capital in additional areas beyond Brazil. The company's current restructuring plan is intended to further align expenditures toward improved forages for dairy and meat production and biotech traits for sugarcane and other crops.

"These changes represent an important step in the transformation of our business as we refocus on our strengths in agricultural technology and direct our attention to markets being fueled by global prosperity growth," said Ceres President and CEO Richard Hamilton. He noted that bioenergy markets have continued to face serious near-term challenges due to low oil prices, the struggling Brazilian economy, delays in second generation refining technology and unfavorable government policies, among other headwinds. "If these challenges can be surmounted then I believe the market for bioenergy feedstocks can reemerge as a global opportunity for agricultural technology companies like Ceres."

Brazilian Operations
Ceres indicated that its Brazilian operations after implementation of the restructuring plan would be focused primarily on sorghum breeding and sugarcane. In particular, the company plans to expand its sugarcane trait development activities for the Brazilian sugarcane market, which Ceres expects to fund, in part, under a grant available from the Brazilian government.

"Given the economic climate in Brazil, and the time horizon needed to bring our top performing sorghum hybrids to market, we believe that the best path forward is to work with a more focused group of well-capitalized mills and collaborators," said Paul Kuc, Ceres Chief Financial Officer. "Moreover, our advances in sugarcane biotechnology and compelling field trial results are making Brazilian sugarcane a more attractive use of capital."

The realignment plan, which is expected to be substantially completed by October 31, 2015, includes, among other actions, a workforce reduction that will impact 14 positions in Brazil primarily related to administration, operations and manufacturing as well as 2 support positions in the United States. Ceres estimates that it will incur total charges of approximately $0.6 million over the next five months with respect to these workforce reductions in Brazil and the U.S., including $0.1 million in continuation of salary and benefits of certain employees until their work is completed and their positions are eliminated, and $0.5 million of one-time severance and other costs, all of which will be cash expenditures. The company expects to achieve additional cost reductions as part of the realignment, which may include additional workforce reductions. Once fully implemented, the company's realignment plan is expected to deliver cash savings of up to approximately $6.0 to $8.0 million in fiscal year 2016.

In addition to the realignment in Brazil, the company continues to evaluate options available for additional funding, including public or private debt or equity financings, collaborations, licensing arrangements, government programs, or the sale of intellectual property, technology or other assets.

About Ceres
Ceres, Inc. is an agricultural biotechnology company that develops and markets seeds to produce crops for forage, biofuels and other markets that utilize plant biomass. The company's advanced plant breeding and biotechnology technology platforms, which can increase crop productivity, improve quality, reduce crop inputs and improve cultivation on marginal land, have broad application across multiple crops, including food, feed, fiber and fuel crops. Ceres markets its seed products under its Blade brand. The company also licenses its biotech traits and technology, including its Persephone genome visualization software, to other life science companies and organizations.

Ceres Forward-Looking Statements
This press release may contain forward-looking statements. All statements, other than statements of historical facts, including statements regarding Ceres' efforts to develop and commercialize its products and technologies, anticipated yields and product performance, status of crop plantings, short-term and long-term business strategies, market and industry expectations, future operating metrics, and future results of operations and financial position, including anticipated cost savings from the company's restructuring plan and projected cash expenditures, are forward-looking statements. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ceres' control. Factors that could materially affect actual results can be found in Ceres' filings with the U.S. Securities and Exchange Commission. Ceres undertakes no obligation to update publicly, except to the extent required by law, any forward-looking statements for any reason after the date the company issues this press release to conform these statements to actual results or to changes in the company's expectations.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/...tech-traits-300101836.html

SOURCE Ceres, Inc.

Copyright 2015 PR Newswire  

Ceres Announces Webcast of Fiscal Third Quarter 2015 Financial Results
20:00 07.07.15

PR Newswire

THOUSAND OAKS, Calif., July 7, 2015

THOUSAND OAKS, Calif., July 7, 2015 /PRNewswire/ -- Ceres, Inc. (Nasdaq: CERE), an agricultural biotechnology company, today announced that it will report financial results for the third quarter of fiscal year 2015 on Friday, July 10, 2015 after the close of the market. The company has scheduled a webcast and conference call for 4:30 p.m. EDT (1:30 p.m. PDT) to discuss its fiscal third quarter results and to provide an update on its business.

Live audio of the conference call will be webcast over the Internet and will be available to investors, members of the news media and the general public. To access the webcast of the conference call, go to investor.ceres.net.  Audio of the teleconference is also available by dialing (877) 838-4153 (domestic) or +1(720) 545-0037 (international). The conference ID number is 67991050. An audio replay of the call will be available two hours after the conclusion of the live call and remain available on the Ceres website for 30 days. http://www.ariva.de/news/...rd-Quarter-2015-Financial-Results-5415571  

Ceres Announces Fiscal Third Quarter 2015 Financial Results
22:10 10.07.15

PR Newswire

THOUSAND OAKS, Calif., July 10, 2015

THOUSAND OAKS, Calif., July 10, 2015 /PRNewswire/ -- Ceres, Inc. (Nasdaq: CERE), an agricultural biotechnology company, announced today financial results for the three months ended May 31, 2015 and provided an update on its business and product development pipeline. http://www.ariva.de/news/...rd-Quarter-2015-Financial-Results-5419686  

Ceres, Inc. is an agricultural biotechnology company that develops and markets seeds and traits to produce crops for animal feed, sugar and other markets. The company's advanced plant breeding and biotechnology technology platforms, which can increase crop productivity, improve quality, reduce crop inputs and improve cultivation on marginal land, have broad application across multiple crops, including food, feed, fiber and fuel crops. Ceres markets its seed products under its Blade brand. The company also licenses its biotech traits and technology, including its Persephone genome visualization software, to other life science companies and organizations.
http://www.ariva.de/news/...rd-Quarter-2015-Financial-Results-5415571  

15:05 27.07.15

PR Newswire

THOUSAND OAKS, Calif., July 27, 2015

THOUSAND OAKS, Calif., July 27, 2015 /PRNewswire/ -- Ceres, Inc. (NASDAQ: CERE), an agricultural biotechnology company, today announced that it has entered into a securities purchase agreement with certain institutional investors providing for the purchase and sale of 1,200,000 shares of common stock at a price of $1.296 per share and warrants to purchase up to 1,200,000 shares of common stock with an exercise price of $1.62 per share. The warrants will be exercisable six months following the date of issuance and will expire five years from the date they become exercisable. http://www.ariva.de/news/...-Pricing-of-1-5-Million-Financing-5435857  

Ceres Awarded Patent for iCODE™ Trait Development System
13:35 12.08.15

PR Newswire

THOUSAND OAKS, Calif., Aug. 12, 2015

THOUSAND OAKS, Calif., Aug. 12, 2015 /PRNewswire/ -- Ceres, Inc. (Nasdaq: CERE), an agricultural biotechnology company, has been awarded a U.S. patent for its iCODE multi-gene trait development system. The company indicated that the patent award is a key milestone in its plan to further develop and license this technology to other crop companies and organizations. http://www.ariva.de/news/...or-iCODE-Trait-Development-System-5455702  

2016 Financial Results
19:30 12.01.16

PR Newswire

THOUSAND OAKS, Calif., Jan. 12, 2016

THOUSAND OAKS, Calif., Jan. 12, 2016 /PRNewswire/ -- Ceres, Inc. (Nasdaq: CERE), an agricultural biotechnology company, today announced that it will report financial results for the first quarter of fiscal year 2016 on Thursday, January 14, 2016 after the close of the market. The company has scheduled a webcast and conference call for 4:30 p.m. EST (1:30 p.m. PST) to discuss its fiscal first quarter results and to provide an update on its business.

Live audio of the conference call will be webcast over the Internet and will be available to investors, members of the news media and the general public. To access the webcast of the conference call, go to investor.ceres.net.  Audio of the teleconference is also available by dialing (877) 838-4153 (domestic) or +1(720) 545-0037 (international). The conference ID number is 24039004. An audio replay of the call will be available two hours after the conclusion of the live call and remain available on the Ceres website for 30 days. http://www.ariva.de/news/...st-Quarter-2016-Financial-Results-5612106  

Ceres Announces First Quarter Financial Results of Fiscal Year 2016
22:10 14.01.16

PR Newswire

THOUSAND OAKS, Calif., Jan. 14, 2016

THOUSAND OAKS, Calif., Jan. 14, 2016 /PRNewswire/ -- Ceres, Inc. (Nasdaq: CERE), an agricultural biotechnology company focused on forage crops, today reported financial results for the three months ended November 30, 2015 and provided an update on its business. http://www.ariva.de/news/...ncial-Results-of-Fiscal-Year-2016-5615167  

http://www.ariva.de/news/...roved-for-Field-Testing-in-Brazil-5731759 GrB  

Land O'Lakes, Inc. Completes Acquisition of Ceres, Inc.
Montag, 01.08.2016 18:55 von PR Newswire

       
PR Newswire

ARDEN HILLS, Minn., Aug. 1, 2016

ARDEN HILLS, Minn., Aug. 1, 2016 /PRNewswire/ -- Land O'Lakes, Inc. today completed its previously announced acquisition of Ceres, Inc. (NASDAQ: CERE) ("Ceres"). http://www.ariva.de/news/...ompletes-acquisition-of-ceres-inc-5832765  

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