Cibus, Inc. (CBUS): restructuring charge — Cibus estimates $249.4M non-cash impairment charge on goodwill and IPR&D

Cibus, Inc.

Goodwill impairment of $150.4M and in-process R&D impairment of $99.0M for fiscal 2023.
Total non-cash impairment charge of ~$249.4M, related to assets from Cibus Global merger.
Triggered by qualitative factors including stock price decline, macro conditions, and development progress.
Preliminary and unaudited; subject to change upon completion of 10-K and audit by BDO USA.
Company expects no current or future cash expenditures from the impairments.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Cibus, Inc. announced a impairment with charges of an estimated approximately $249.4 million affecting goodwill and in-process R&D indefinite-lived intangible assets acquired in the merger transactions with Cibus Global, LLC.

Type: impairment
Charge: an estimated approximately $249.4 million
Affected area: goodwill and in-process R&D indefinite-lived intangible assets acquired in the merger transactions with Cibus Global, LLC

Exact text from the filing

management expects to record a non-cash impairment charge of an estimated approximately $249.4 million for impairment of goodwill and in-process R&D indefinite-lived intangible assets in the consolidated financial statements for the year ended December 31, 2023.

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Cibus, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-063755

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