AquaBounty to close Panama farm

Published on
May 3, 2019

AquaBounty will close its Panama farm since the United States government lifted the Import Alert on its genetically-engineered salmon.

“With the recent action by the FDA [United States Food and Drug Administration] to lift the Import Alert on AquAdvantage Salmon, the company can now stock and grow the fish at its Indiana farm site,” AquaBounty said in a press release announcing its first quarter earnings. “Consequently, AquaBounty has determined that it is no longer necessary for the company to operate a farm in Panama.”

The Panama facility was originally set up in 2008 as a demonstration grow-out location for AquAdvantage Salmon in conjunction with the company’s New Animal Drug Application with the FDA, according to Maynard, Massachusetts-based AquaBounty.

In the first quarter ending 31 March, AquaBounty had several successes, including the FDA lifting the Import Alert and the approval by Environment and Climate Change Canada for the commercial grow-out of AquAdvantage Salmon at its Rollo Bay facility.

AquaBounty also completed a public offering of common shares, raising USD 6.1 million (EUR 5.5 million).

However, the company’s net loss for the quarter increased from USD 2.45 million (EUR 2.2 million) for the first quarter of 2018 to USD 2.76 million (EUR 2.5 million) this quarter, due to starting production in Indiana.

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