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NATURE OF BUSINESS & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2024
Accounting Policies [Abstract] |
Schedule of Stock by Class | Share information related to the Company's common stock as of September 30, 2024, is as follows:
|  | Class A Common Stock |  | Class B Common Stock |  | Total Common Stock
Authorized |  | 210,000,000 |  | 90,000,000 |  | 300,000,000
Issued |  | 26,866,904 |  | 3,112,516 |  | 29,979,420
Outstanding |  | 26,429,630 |  | 3,112,516 |  | 29,542,146
Schedule of Deferred Revenue Activity | The following table represents the deferred revenue activity for the nine months ended September 30, 2024:
In Thousands |  | Deferred Revenue
Balance as of December 31, 2023 |  | $ | 1,210 |
Consideration earned |  | (3,050) |
Consideration received |  | 2,922 |
Balance as of September 30, 2024 |  | $ | 1,082 |
The following table represents the deferred revenue activity for the nine months ended September 30, 2023:
In Thousands |  | Deferred Revenue
Balance as of December 31, 2022 |  | $ | 107 |
Acquired from merger with Cibus Global, LLC |  | 1,186 |
Consideration earned |  | (714) |
Consideration received |  | 1,058 |
Balance as of September 30, 2023 |  | $ | 1,637 |
Schedule of Computation of Basic and Diluted Net Loss Per Share | The following table shows the computation of basic and diluted net loss per share of Class A Common Stock for the three and nine months ended September 30, 2024, and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
In Thousands, Except Share and Per Share Amounts |  | 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |  |
Net loss attributable to Cibus, Inc. |  | $ | (179,968) |  |  | $ | (26,429) |  |  | $ | (228,286) |  |  | $ | (50,513) |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares of Class A common stock outstanding |  | 23,536,746 |  | 16,641,127 |  | 22,055,979 |  | 7,979,132
Effect of pre-funded warrants |  | 50,000 |  | — |  | 50,000 |  | —
Weighted average shares of Class A common stock outstanding – basic and diluted |  | 23,586,746 |  | 16,641,127 |  | 22,105,979 |  | 7,979,132
Basic and diluted net loss per share of Class A common stock |  | $ | (7.63) |  |  | $ | (1.59) |  |  | $ | (10.33) |  |  | $ | (6.33) |
Schedule of Antidilutive Securities Excluded from Computation of Loss Per Share | The following potential dilutive securities, presented on an as converted basis, were excluded from the calculation of net loss per share of Class A Common Stock due to their antidilutive effect:
| As of September 30,
| 2024 |  | 2023
Stock options outstanding | 150,899 |  | 109,551
Unvested restricted stock units | 115,541 |  | 198,199
Unvested restricted stock awards | 392,097 |  | 945,780
Common warrants | 1,456,523 |  | 158,483
Total | 2,115,060 |  | 1,412,013

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