Arcadia Biosciences, Inc 8-K, filed Nov 12, 2024

Arcadia Biosciences, Inc. (RKDA)

8-K 2024-11-12 For: 2024-11-12

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Added on April 09, 2026

About this 8-K

Arcadia Biosciences, Inc filed this 8-K on November 12, 2024.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Delaware	001-37383	81-0571538
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

5950 Sherry Lane Suite 215
Dallas, Texas		75225
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common	RKDA	The Nasdaq Stock Market LLC


Exhibit No.		Description

99.1		Arcadia Biosciences Announces Third-Quarter 2024 Financial Results and Business Highlights
99.2		Arcadia Biosciences Third-Quarter 2024 Financial Information
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)


			ARCADIA BIOSCIENCES, INC.

Date:	November 12, 2024	By:	/s/ MARK KAWAKAMI
			Mark Kawakami, Chief Financial Officer


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024	2023	Favorable / (Unfavorable)		2024	2023	Favorable / (Unfavorable)
			$	%			$	%
Total revenues	1,537	1,298	239	18%	3,829	3,677	152	4%
Total operating expenses	3,297	2,695	(602)	(22%)	5,198	8,586	3,388	39%
Loss from continuing operations	(1,760)	(1,397)	(363)	(26%)	(1,369)	(4,909)	3,540	72%
Net loss attributable to common stockholders	(1,612)	(2,567)	955	37%	(2,974)	(11,128)	8,154	73%


	September 30, 2024			December 31, 2023
Assets
Current assets:
Cash and cash equivalents	$	3,936		$	6,518
Short-term investments		2,640			5,124
Accounts receivable and other receivables, net of allowance for doubtful accounts of $0 as of September 30, 2024 and December 31, 2023		882			506
Inventories — current		835			837
Assets held for sale		—			51
Note receivable — current		1,827			—
Prepaid expenses and other current assets		521			807
Current assets of discontinued operations — GoodWheat		70			1,129
Total current assets		10,711			14,972
Property and equipment, net		55			70
Right of use asset		306			792
Inventories — noncurrent		—			196
Intangible assets, net		39			39
Note receivable — noncurrent		3,966			—
Other noncurrent assets		164			164
Noncurrent assets of discontinued operations — GoodWheat		—			3,472
Total assets	$	15,241		$	19,705
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and accrued expenses	$	1,692		$	1,910
Amounts due to related parties		30			58
Operating lease liability — current		346			852
Other current liabilities		260			270
Current liabilities of discontinued operations — GoodWheat		—			500
Total current liabilities		2,328			3,590
Operating lease liability — noncurrent		—			155
Common stock warrant and option liabilities		764			1,257
Other noncurrent liabilities		2,000			2,000
Total liabilities		5,092			7,002
Commitments and contingencies (Note 14)
Stockholders’ equity:
Common stock, $0.001 par value—150,000,000 shares authorized; 1,364,940 and 1,285,337 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively		65			65
Additional paid-in capital		284,919			284,515
Accumulated other comprehensive income		117			101
Accumulated deficit		(274,814	)		(271,840	)
Total stockholders’ equity		10,287			12,841
Non-controlling interest		(138	)		(138	)
Total stockholders' equity		10,149			12,703
Total liabilities and stockholders’ equity	$	15,241		$	19,705


	Three Months Ended September 30,						Nine Months Ended September 30,
		2024			2023			2024			2023
Revenues:
Product	$	1,537		$	1,298		$	3,829		$	3,667
License		—			—			—			10
Total revenues		1,537			1,298			3,829			3,677
Operating expenses:
Cost of revenues		1,032			818			2,136			1,996
Research and development		24			15			40			55
Gain on sale of intangible assets		—			—			(4,000	)		—
Impairment of property and equipment		—			—			36			—
Selling, general and administrative		2,241			1,862			6,986			6,535
Total operating expenses		3,297			2,695			5,198			8,586
Loss from continuing operations		(1,760	)		(1,397	)		(1,369	)		(4,909	)
Interest income		233			133			428			538
Other income, net		15			17			168			36
Valuation loss on March 2023 PIPE		—			—			—			(6,076	)
Change in fair value of common stock warrant and option liabilities		330			608			493			5,965
Issuance and offering costs allocated to liability classified options		—			—			—			(430	)
Net loss from continuing operations before income taxes		(1,182	)		(639	)		(280	)		(4,876	)
Income tax provision		—			—			—			(1	)
Net loss from continuing operations		(1,182	)		(639	)		(280	)		(4,877	)
Net loss from discontinued operations — Body Care		—			(83	)		—			(591	)
Net loss from discontinued operations — GoodWheat		(430	)		(1,845	)		(2,694	)		(5,665	)
Net loss		(1,612	)		(2,567	)		(2,974	)		(11,133	)
Net loss attributable to non-controlling interest		—			—			—			(5	)
Net loss attributable to common stockholders	$	(1,612	)	$	(2,567	)	$	(2,974	)	$	(11,128	)
Net loss per share attributable to common stockholders:
Basic and diluted from continuing operations	$	(0.87	)	$	(0.47	)	$	(0.21	)	$	(4.08	)
Basic from discontinuing operations	$	(0.32	)	$	(1.42	)	$	(1.98	)	$	(5.24	)
Net loss per basic and diluted share attributable to common stockholders	$	(1.18	)	$	(1.89	)	$	(2.18	)	$	(9.31	)
Weighted-average number of shares used in per share calculations:
Basic and diluted		1,363,753			1,359,511			1,362,754			1,195,354
Other comprehensive income (loss), net of tax
Unrealized gains on available-for-sale securities	$	36		$	66		$	117		$	87
Reclassification adjustment for gains on available-for-sale securities included in net loss	$	-		$	—		$	(111	)	$	—
Change in unrealized gains on available-for-sale securities	$	36		$	66		$	6		$	87
Comprehensive loss	$	(1,576	)	$	(2,501	)	$	(2,968	)	$	(11,041	)