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Investing.com -- Shares of Cibus Inc (NASDAQ:CBUS) climbed 2.6% after the company announced that its latest herbicide tolerance trait for canola, HT2, has been designated as "not regulated" by the USDA-APHIS Biotechnology Regulatory Services. This regulatory milestone is seen as a positive development for the agricultural technology firm, signaling its continued momentum in the United States and potential for international market expansion.
The company’s interim CEO, Dr. Peter Beetham, expressed optimism about the pace of development and the potential for the HT2 trait to provide growers with advanced tools for improved weed management. Cibus’ pipeline of productivity and agronomic traits, developed using its proprietary Rapid Trait Development System™ (RTDS®), now boasts a total of seventeen traits that have achieved the "not regulated" status.
The HT2 trait in canola is designed to offer a more effective solution for controlling weeds resistant to commonly used herbicides. With the agricultural industry facing challenges from such resistant weeds, traits like HT2 are critical for maintaining high crop yields and ensuring the profitability and sustainability of farming operations.
The USDA-APHIS’s decision is particularly noteworthy for Cibus as it not only enhances the company’s standing in the U.S. market but also lays the groundwork for further international adoption of its traits. The HT2 trait is part of a broader strategy by Cibus to address the pressing need for improved weed management in broad acre crops such as canola and soybean, which are particularly vulnerable to yield losses due to weed infestations.
Investors responded positively to the news, reflecting confidence in Cibus’ ability to deliver innovative agricultural solutions to the market. The company’s stock movement today is indicative of the market’s recognition of the potential impact of Cibus’ trait development on the agricultural sector.
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