Biotechnnology firm and GM salmon producer AquaBounty Technologies announced its preliminary financial results for the year ending 31 December 2013.
The company reported a net loss of USD 4.7 million (EUR 3.4 million) compared to a loss of USD 4.4 million (EUR 3.2 million) in 2012.
AquaBounty said highlights for the year included the U.S. Food and Drug Administration completing the public comment period on its draft Environmental Assessment and Preliminary Finding of No Significant Impact for AquAdvantage Salmon. Also, in November, Environment Canada decided that the GM salmon is not harmful to the environment or human health when produced in contained facilities.
In January 2014, Intrexon, AquaBounty’s major shareholder, agreed to undertake a subscription for new common shares of USD 10 million (EUR 7.3 million), about 19 million shares — increasing Intrexon’s holdings to 59.85 percent, and began preparations to register its common shares with the U.S. Securities and Exchange Commission to seek a listing on NASDAQ.
“While we cannot be certain about the timing, the board is working on the assumption that approval will be forthcoming in 2014,” said Ron Stotish, CEO. “The strong support provided by Intrexon provides the company with sufficient financial resources to fund our operations through mid-2015 and carry out appropriate preparations for commercial development once AAS receives approval.”
March 24, 2014
