Moolec Science SA
LUXEMBOURG / ACCESSWIRE / March 13, 2024 / Moolec Science SA (NASDAQ:MLEC) a science-based food ingredient company focused on producing animal proteins in plants through Molecular Farming technology, announced today its Business Update for the second quarter of Fiscal Year 2024 ended December 31, 2023.
Moolec Science Logo
The main highlights of Moolec's business update are as follows:
- SOOY1 | Piggy Sooy™ Platform: Third generation (T3) soybean seed propagation has started, and fourth generation (T4) seeds are expected to be harvested in April 2024. A molecular analysis reveals that the current T3 soybean population contains a stable number of porcine myoglobin gene copies consistent with a population that is not segregating.
- PEEA1: Scientific team confirms the presence of bovine myoglobin gene in pea seeds and the gene's stable inheritance across plant generations.
- YEEA1: Moolec´s prototyping platform includes a novel yeast strain that is being developed as a dietary supplement and food ingredient, and Moolec has begun the first of several pre-submission consultations with US-FDA.
- Product Marketing: The next generation of textured plant-protein prototypes produced at Moolec's industrial and commercial R&D center were presented to the public in Gulfood 2024.
- Financial highlight: Capital Raise of ~$30M with $10M in cash and ~$20M in kind contributions materialized in October 2023 with strategic investors through a convertible note followed by an additional ~$1M raised with farmers in December 2023. Revenues and other income (Ex-IAS 29) of ~$1.7M slightly down QoQ. R&D, Admin and other Expenses in line with historical track record of cost efficiency. Operational cash utilization of ~$4M includes ~$2.7M allocated to lower accounts payable.
"This quarter has been a testament to the dedication and hard work of our team. We have made steady progress in our research and development efforts as well as product development. I am incredibly proud of our team's delivery and execution. Thank you to the Moolers, and to our partners for their continued support," stated Gastón Paladini, Chief Executive Officer and Co-Founder of Moolec Science.
"Our financial position reflects our commitment on multiple fronts. The strategic partnerships we have formed, most recently with farmers, will be instrumental not only in our funding health, but also contribute to support Moolec's product growth and commercialization in the near future," declared José López Lecube, Chief Financial Officer for the company. He then continued by saying: "As we move forward, we remain focused on maintaining a healthy financial position and are confident in our ability to navigate the next stages of our growth."
Conference Call
Management will host a Conference Call and question-and-answer session, which will be accompanied by a presentation available during the webinar.
To access the call, please use the following information:
- Date: Wednesday, March 13, 2024
- Time: 08:30 AM Eastern Time (US and Canada)
- Link to join the webinar: https://icrinc.zoom.us/j/92375922161?pwd=Qmt6NzdVUGNWaEhTT1NDOHU3Tjlydz09
- One tap mobile: +13017158592,,92375922161#,,,,*888246# US
- Dial In: +1 301 715 8592 US | Webinar ID: 923 7592 2161, Passcode: 888246
- International numbers available: https://icrinc.zoom.us/u/acVKYeTJwM
Please connect 5 minutes prior to the start time to register and join.
A recording of the call and the pdf version of the presentation will be available after the conclusion of the live event via Moolec's Investor Relations website.
About Moolec Science SA
Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food. The Company's mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal-based food, for good and for all. Moolec's technological approach aims to have the cost structure of plant-based solutions with the organoleptic properties and functionality of animal-based ones. Moolec's technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company's product portfolio and pipeline leverages the agronomic efficiency of broadly used target crops, like soybean and safflower. Recently, it acquired plant-based ingredient capabilities to consolidate Molecular Farming Technology. Moolec has a growing international patent portfolio (26, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of Ph.Ds and Food Insiders, and operates in the United States, Europe, and South America.
Forward-Looking Statements
This press release contains "forward-looking statements." Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec's business and other risks and uncertainties, including those included under the header "Risk Factors" in the Moolec's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC"), as well as Moolec's other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of Moolec's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.
Contact Information
Catalina Jones
Chief of Staff & Sustainability
comms@moolecscience.com
Investor Relations
ir@moolecscience.com
Michael Bowen
ICR, LLC
moolecir@icrinc.com
Related Files
Moolec Science - Business Update Q2FY2024_Final
SOURCE: Moolec Science
To view this piece of content from stats.nwe.io, please give your consent at the top of this page.View the original press release on newswire.com.
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
Conga Hosts Premier European Customer Conference "Conga Connection EMEA 2025" in Paris18.9.2025 10:00:00 CEST | Press release
Leading B2B SaaS Company to Host More Than 150 Customers and Partners at Flagship EMEA Event October 8 LONDON, UK / ACCESS Newswire / September 18, 2025 / Conga, the market leader in AI-powered innovation in configure, price, quote (CPQ) and contract lifecycle management (CLM), and Document Automation, will host its flagship European customer conference, Conga Connection EMEA 2025, taking place October 8, at the prestigious Pullman Paris Tour Eiffel. The event is expected to attract more than 150 customers, partners, and industry leaders from across Europe for a day of learning, innovation, and networking focused on advancing business transformation and operational excellence. The conference will feature keynote presentations from Conga's executive leadership, including CEO Dave Osborne who will share Conga's strategic vision for empowering organizations to accelerate their journey to become a more connected, intelligent business, better able to minimize risk and maximize revenue. Cong
Karbon-X Corp. Files Year-End Financial Results17.9.2025 14:00:00 CEST | Press release
CALGARY, AB / ACCESS Newswire / September 17, 2025 / Karbon-X Corp. (OTCQX:KARX) ("Karbon-X or the "Company"), a vertically integrated climate solutions company, today announced that it has filed its Form 10-K with audited financial results for the fiscal year ended May 31, 2025. The full filing is available under the Company's profile on OTC Markets at www.otcmarkets.com/stock/KARX/overview Operational and Strategic Highlights for Fiscal Year 2025 Completed the acquisition of ALLCOT Group, expanding Karbon-X's global footprint and integrating world-class expertise. Launched trading operations, marking a critical milestone in validating the Company's business model and initiating its revenue-generating activities. Entered landmark partnerships with major energy producers and with the BK Dukes, reflecting strong market confidence in Karbon-X's vision and capabilities. Financial Highlights for Fiscal Year 2025 Revenue surged to $3.16 million, up from $0.41 million in the prior year, mark
TruMerit Adds Two More Global Credentials for Rehabilitation Care Workers16.9.2025 20:00:00 CEST | Press release
PHILADELPHIA, PA / ACCESS Newswire / September 16, 2025 / TruMerit, a global leader in healthcare workforce development, today launched two new global credentials for healthcare workers specializing in rehabilitation, habilitation, and restorative care. The Certified Global Health Worker-Rehabilitation (CGHW-R) and the Certified Global Health Worker-Rehabilitation Advanced (CGHW-RA) have been developed specifically for eligible health workers worldwide who wish to have their applied experience and competencies in rehab care recognized and verified by passing a certification examination. These credentials, along with the Certified Global Nurse-Rehabilitation (CGN-R) that TruMerit established last year, are intended to advance and improve services for the more than two billion people worldwide who need this care. The CGHW-RA credential was developed for those with a degree or diploma in a rehabilitation field. These include clinicians, educators, and instructors with physiotherapy, occup
Second Blue Magic Netherlands Event Set for November 1816.9.2025 18:30:00 CEST | Press release
Registration Site Is Open and Dutch Innovators Are Encouraged to Attend and Apply to Present Capabilities SAN DIEGO, CALIFORNIA / ACCESS Newswire / September 16, 2025 / General Atomics Aeronautical Systems, Inc. (GA-ASI), in collaboration with the Dutch Ministry of Defence and the Dutch Ministry of Economic Affairs, will host its second Blue Magic Netherlands (BMNL) event on November 18, 2025. BMNL 2025 follows the successful first event in 2024 and will take place at the MELT at Avular building, a world-class venue for technology interchange near Brainport Eindhoven, the center of the Dutch high-technology manufacturing industry. The registration site can be accessed at www.ga-asi.com/blue-magic-netherlands-2025. "The first BMNL event was a huge success for Dutch industry," said Brad Lunn, managing director for GA-ASI. "We've built strong investment opportunities with Dutch companies - including Arceon, Emergent Swarm Solutions, and Saluqi Motors - and now we're looking to build on th
U.S. Polo Assn. Celebrates Sport and Style as Official Apparel Sponsor of the 2025 Engel & Völkers Berlin Maifeld Polo Cup16.9.2025 13:00:00 CEST | Press release
Sports Brand Supports Germany's High-Goal Polo Event for Sixth Consecutive Year BERLIN, GERMANY AND WEST PALM BEACH, FL / ACCESS Newswire / September 16, 2025 / U.S. Polo Assn., the official sports brand of the United States Polo Association (USPA), proudly partnered as the Official Jersey and Apparel Sponsor of the Engel & Völkers Berlin Maifeld Polo Cup, also known as the German High-Goal Championship 2025, held August 22-31, 2025, in Berlin. This prestigious tournament is the pinnacle of the polo season in Germany and is one of the most celebrated events in European polo.Engel & Völkers Berlin Maifeld Polo Cup Winners Photo Credit: Guadalupe Aizaga The finals weekend for the Engel & Völkers Berlin Maifeld Polo Cup took place at the iconic Maifeld Stadium, the same historic venue where the sport of polo was last played in the 1936 Olympic Games. Qualifying matches were held August 21-28 at the Prussian Polo and Country Club, leading to a thrilling finale that showcased the very best
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom