Tag Archive agricultural biotechnology

AgriLife Biotechnology to raise $4.7B in Series A, $5.7M in Series B

August 6, 2021 Comments Off on AgriLife Biotechnology to raise $4.7B in Series A, $5.7M in Series B By admin

ANAHEIM, Calif.

— Agri-tech and biotechnology stocks are expected to trade higher on Thursday as investors look to fill an economic gap in the U.S. that is hurting the biotech industry.

AgriLife BioTechnology is expected to report earnings of $4 billion in its second fiscal quarter, which begins Wednesday, and to report quarterly revenue of $5 billion.

The company’s chief executive, Paul Smith, said in a statement that the company is working to accelerate its commercialization of a novel approach to genetically engineered plants.

He added that the next phase of its plans is to move forward with its first Phase 1 commercialization in 2018.

Agricultural Biotechnology, a biotechnology company based in San Diego, is expected increase its revenue by $5 million, or 28 percent, to $4,735 million, as it plans to open its first commercial plant in the United States.

That would mark a significant boost to the company’s revenue for the quarter.

The company is expected report a net loss of $3.4 million, and will post a $1.4 billion loss in the fiscal year, according to an analyst estimate.

The analyst estimates AgriLabs could have a revenue loss of as much as $4 million.

Smith added that AgriBio will use its expertise in agricultural biotechnology to create new markets for biotechnology products, which are currently being developed primarily in the developing world.

He said the company will also develop new agricultural products, and said that the firm has already begun to market its first genetically engineered crops.

Agribusiness and biotech stocks are in the midst of a record-setting run in 2017, as investors seek to fill a job gap in America that has been exacerbated by the global economic crisis.

The jobless rate in the country hit a record high of 9.3 percent in December.

Agrochemicals, a biotech company based out of Santa Clara, Calif., has also raised nearly $4 Billion in Series D and Series E funding.

The funding will help it expand its facilities in Asia and Africa.

Agrochemics said its first two plants will begin commercial production in 2019.

It said it plans a fourth plant in 2019 and a fifth plant in 2020.

Agroscience stocks are down more than 8 percent in 2017.

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