AquaBounty Technologies, the aquaculture biotechnology company responsible for the genetically-modified AquAdvantage salmon products that were approved for sale by the U.S. Food and Drug Administration (FDA) in November 2015, has reported a net loss for the year ending on 31 December 2015.
The company closed out the year with a USD 7 million (EUR 6.5 million) net loss; in 2014, AquaBounty posted a loss of USD 7.1 million (EUR 6.5 million). Sales expenses were partially responsible for the final year-end figure, totaling USD 1.7 million (EUR 1.6 million), according to the company. An agreement had been reached between AquaBounty and a debt facility to the tune of USD 10 million (EUR 9.2 million); these resulting investors from Intrexon will help to fund the company’s next development line.
AquaBounty’s focus for 2016 will be on its GM salmon product line, according to AquaBounty CEO Ronald Stotish.
“We achieved a significant milestone as the U.S. FDA approved application for the production, sale and consumption of the AquaBounty Advantage Salmon,” Stotish said.. “We are now preparing for the commercialization phase and look forward to continuing to build our business.”
The FDA issued an import alert and hold on GM salmon products until it can publish guidelines for the labeling of the goods. AquaBounty expects said guidelines to be developed over the course of this year and the import alert lifted soon after.
The company reported progress in expanding its commercial presence internationally – it is seeking approval for the importation of AAS eggs for local field trials in Argentina, Brazil and China.
