<SEC-DOCUMENT>0001410578-14-000485.txt : 20150612
<SEC-HEADER>0001410578-14-000485.hdr.sgml : 20150612
<ACCEPTANCE-DATETIME>20141222104109
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001410578-14-000485
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20141222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arcadia Biosciences, Inc.
		CENTRAL INDEX KEY:			0001469443
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				810571538
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		202 COUSTEAU PLACE
		STREET 2:		SUITE 200
		CITY:			DAVIS
		STATE:			X1
		ZIP:			95618
		BUSINESS PHONE:		602-429-0476

	MAIL ADDRESS:	
		STREET 1:		4222 E. THOMAS RD
		STREET 2:		SUITE 245
		CITY:			PHOENIX
		STATE:			X1
		ZIP:			85018
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRSLTR
<SEQUENCE>1
<FILENAME>filename1.htm
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December&nbsp;22, 2014</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">VIA EDGAR AND OVERNIGHT COURIER</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S. Securities and Exchange Commission</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, N.E.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C. 20549</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attn:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Anne Nguyen Parker, Assistant Director</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen Kim</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Doug Jones</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Re:</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Arcadia Biosciences,&nbsp;Inc.</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amendment No.&nbsp;1 to Draft   Registration Statement on Form&nbsp;S-1</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Submitted December&nbsp;22,   2014</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CIK No.&nbsp;0001469443</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are submitting this letter on behalf of our client, Arcadia Biosciences,&nbsp;Inc. (&#147;<b><i style="font-weight:bold;">we</i></b>,&#148; &#147;<b><i style="font-weight:bold;">us</i></b>&#148; or the &#147;<b><i style="font-weight:bold;">Company</i></b>&#148;), in response to the comments from the staff (the &#147;<b><i style="font-weight:bold;">Staff</i></b>&#148;) of the Securities and Exchange Commission (the &#147;<b><i style="font-weight:bold;">Commission</i></b>&#148;), received by letter dated December&nbsp;5, 2014, relating to the draft registration statement on Form&nbsp;S-1 confidentially submitted on November&nbsp;12, 2014 (the &#147;<b><i style="font-weight:bold;">Registration Statement</i></b>&#148;). Amendment No.&nbsp;1 to the Registration Statement (&#147;<b><i style="font-weight:bold;">Amendment No.&nbsp;1</i></b>&#148;) is being submitted concurrently herewith. The numbered paragraphs below correspond to the numbered comments in the Staff&#146;s letter and the Staff&#146;s comments are presented in bold italics. Except as otherwise specifically indicated, page&nbsp;references herein correspond to the pages&nbsp;of Amendment No.&nbsp;1. We have also enclosed with the copy of this letter that is being transmitted via overnight delivery, six (6)&nbsp;copies of Amendment No.&nbsp;1 in paper format, which have been marked to show changes from the initial Registration Statement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">General</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">1.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Your Exhibit&nbsp;Index indicates that you intend to seek confidential treatment with respect to some of your exhibits. Please confirm your understanding that all requests for confidential treatment must be resolved prior to a request for acceleration.</i></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the Staff&#146;s comment and confirms that it understands that all requests for confidential treatment must be resolved prior to a request for acceleration.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">2.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">To the extent that you have relied on any reports or studies that you commissioned from third party sources to support your disclosure, please provide the consents of these third parties with your next amendment or tell us why you believe that you are not required to do so.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company advises the staff that it has commissioned Phillips McDougall to prepare a report regarding certain trait value data that it expects to use in the Industry Overview section. This report will be completed subsequent to the submission of Amendment No.&nbsp;1 and therefore the Company plans to provide the Staff with Phillips McDougall&#146;s consent in conjunction with the next amendment to the Registration Statement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">3.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Please supplementally provide us with copies of all written communications, as defined in Rule&nbsp;405 under the Securities Act, that you, or anyone authorized to do so on your behalf, present to potential investors in reliance on Section&nbsp;5(d)&nbsp;of the Securities Act, whether or not they retain copies of the communications.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company advises the Staff that at this time neither it, nor anyone on its behalf, has distributed any such written communications to potential investors.&#160; The Company further advises the Staff that, if any such communications are used, it will supplementally provide the same to the Staff.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Prospectus Summary, page&nbsp;1</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Overview, page&nbsp;1</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">4.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">You disclose here and in several other places that you are a &#147;leading independent&#148; agricultural biotechnology trait development company. Please provide a basis for your statement that you are &#147;leading.&#148; Please also clarify what is meant by &#147;independent.&#148; Further, we note the discussion in the Competition section on page&nbsp;93 of &#147;small,&#148; &#147;medium&#148; and &#147;large&#148; companies. Please clarify here the size that best characterizes your company.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The statement that the Company is a <i>leading</i> agricultural biotechnology trait development company is based on, among other things, its collaborations with leading agricultural companies, recognition of it by third parties, and its track record of success in trait development since its founding in 2002.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has entered into more than 60 development collaborations with global agricultural leaders such as Limagrain (Vilmorin&nbsp;&amp; Cie), Mahyco (Maharashtra Hybrid Seeds Company Limited), DuPont Pioneer (E.I. du Pont de Nemours and Company), Advanta Seeds, SES Vanderhave, Genective (a joint venture between Limagrain and KWS SAAT), Scotts, U.S. Sugar, Abbott, Ardent Mills, and Bioceres. In addition, the Company has formed a joint venture with each of Limagrain and Bioceres. These companies represent some of the largest and most successful companies in their spaces.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has also been recognized by third parties as a leader on account of its achievements. The Cleantech Group named the Company to the 2014 Global Cleantech 100 list, described by the Cleantech Group as &#147;an international list of private companies representing the most innovative and promising ideas in clean technology.&#148; Also in 2014, the MIT Technology Review named the Company to its 2014 50 Smartest Companies list, described by the MIT Technology Review as a list that &#147;spotlights companies that over the past year made a difference through their innovations by filling a need or challenging others</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to step up their game.&#148; In 2011 and 2012, the Company was named to AlwaysOn&#146;s GoingGreen Silicon Valley Global 200 list, described by AlwaysOn as honoring &#147;private companies that are demonstrating leadership and pursuing game-changing approaches and technologies that are likely to disrupt existing and entrenched players in green technology.&#148;</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company believes that its leadership in the industry is also evident in being one of the first companies to have its regulatory efforts relating to its product development efforts be recognized and verified as conforming to the U.S. Department of Agriculture (&#147;<b><i style="font-weight:bold;">USDA</i></b>&#148;) Biotechnology Quality Management System (&#147;<b><i style="font-weight:bold;">BQMS</i></b>&#148;) audit standard. The USDA has also recognized and verified the BQMS of Verdeca LLC, the Company&#146;s joint venture with Bioceres, as conforming to the USDA audit standard. In addition, the Company is the only company since 2006 to have been authorized by the California Rice Commission to conduct transgenic rice trials in the state of California.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comments, the Company has revised the disclosure on pages&nbsp;1, 45, and 69 of Amendment No.&nbsp;1 to remove references to being an &#147;independent&#148; company as it was not helpful to an understanding of the Company.&#160; In response to the Staff&#146;s comments, the Company has also revised the disclosure on pages&nbsp;94 and 95 of Amendment No.&nbsp;1 to better distinguish between large and fully integrated multinational seed companies, such as Monsanto and DuPont Pioneer, which cover all phases of the development and commercialization of seeds, as compared to smaller companies that focus on only a portion of the seed development process, such as gene discovery and early research, rather than categorizing companies as &#147;small,&#148; &#147;medium,&#148; and &#147;large.&#148;</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">5.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">We note your disclosure that you have 13 traits in &#147;advanced stages of development or on the market,&#148; as well as your discussion of products or traits in the &#147;advanced development&#148; stages. Please clarify throughout your document what you mean by &#147;advanced stages of development&#148; and discuss the requirements and timelines involved in moving a trait or product from the &#147;advanced stage&#148; to the commercial phase. In this regard, we note the description of &#147;Advanced Development&#148; on page&nbsp;66.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment to clarify what is meant by &#147;advanced stages of development,&#148; the Company has added disclosure on page&nbsp;3 of Amendment No.&nbsp;1 to clarify that it refers to products that are at Phase 3 or higher in the product development cycle as products that are in &#147;advanced stages of development or on the market,&#148; and has replaced two instances of &#147;advanced stages of development,&#148; on pages 1 and 3, with a more detailed description of the development status of these 13 traits.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the Staff&#146;s comment regarding the requirements and timelines involved in moving a trait or product from the &#147;advanced stage&#148; to the commercial phase and respectfully advises the Staff that a detailed discussion regarding these requirements and timelines is included in the &#147;Industry Overview&#148; section on pages&nbsp;67 and 68 and in the &#147;Business&#148; section on pages&nbsp;84 through 89 of Amendment No.&nbsp;1. In particular, page&nbsp;67 includes a description of the requirements for each phase from Advanced Development (Phase 3) through Commercial (Phase 5), including estimates of the average duration of each phase in months.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">6.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">It appears that you are in the business of researching, developing and commercializing seed traits and products. With a view toward disclosure, please explain why your relevant target market is a portion of the &#147;$2.6 trillion annual farm revenue from agricultural crops&#148; rather than the $39.4 billion seed market.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has replaced references to the &#147;$2.6 trillion annual farm revenue&#148; market with references to the $39.4 billion seed market. The Company respectfully advises the Staff that it has made corresponding edits on pages&nbsp;45 and 69 of Amendment No.&nbsp;1, and has</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">also inserted language on pages&nbsp;45 and 69 to clarify that the Company&#146;s goal is to increase the value of this $39.4 billion seed market significantly by increasing yields in the $1.0 trillion market for the six largest global crops, and to capture a portion of the increased value.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">7.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Here and where it appears elsewhere in the document, please expand your disclosure to briefly explain what you mean when you say that you &#147;reduce risk and avoid most of the costs associated with basic research by acquiring trait technologies that have already achieved proof of concept through basic research carried out elsewhere.&#148; Please explain here what it means to achieve proof of concept. In this regard, we note the description of Phase 1, Proof of Concept, in the chart on page&nbsp;66.</i></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has revised its disclosure on pages&nbsp;1, 46, and 69 of Amendment No.&nbsp;1.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that achieving proof of concept in its industry means that the initial feasibility screening process in the laboratory and the greenhouse for a potential trait has been completed and there is good evidence that the trait works in plants. Once proof of concept has been achieved, the trait typically begins Phase 2 of the development process, which involves greenhouse trials and initial field trials and which may also involve additional laboratory screening.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our Strengths, page&nbsp;4</font></u></i></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">8.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Please explain how your pipeline of agricultural productivity &#147;provides access&#148; to multiple large, potentially high growth markets.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has revised its disclosure on pages&nbsp;4 and 71 of Amendment No.&nbsp;1.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">9.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">In the third bullet point of this section, you discuss technologies that have achieved proof of concept in the first sentence, while the caption discusses advanced development stage products. Please clarify the stages that most of your products have reached, and provide the reasons that you believe this progress substantially reduces the risk and time to market referenced in the caption.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has revised its disclosure on pages&nbsp;4 and 71 of Amendment No.&nbsp;1.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company respectfully advises the Staff that acquiring a trait that has achieved proof of concept and has begun Phase 2 of the development process, as compared to an earlier-stage trait in the Discovery phase, reduces the estimated average development duration by 36 to 72 months and increases the estimated average probability of success from 5% to 50%. See &#147;Industry Overview&#151;In</font>novation and Commercialization Process in Biotech Seed Traits&#148; on page&nbsp;65 of Amendment No.&nbsp;1.</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">10.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">In the fourth bullet point of this section, with a view towards disclosure, please tell us how your regulatory expertise would enable expedited regulatory review.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has deleted references to expedited regulatory review on pages&nbsp;5 and 71 of Amendment No.&nbsp;1.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Risk Factors, page&nbsp;11</font></u></i></b></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Changes in laws and regulations&#133;and disrupt our business, page&nbsp;20</font></u></i></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">11.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Please revise this risk factor to include the information that a number of states have legislation pending that would limit the use or require the labeling of GM crops in those states, and briefly state the risk presented by such legislation to your business, or tell us why you do not believe the legislation is material.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has split the existing risk factor into two separate risk factors in Amendment No.&nbsp;1 to better distinguish between consumer and government resistance to GM crops, and has added disclosure to the consumer risk factor on page&nbsp;21 to disclose state-level labeling initiatives for GM crops and the risks these present to the Company&#146;s business.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Components of Our Statements of Operations Data, page&nbsp;46</font></u></i></b></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Revenues, page&nbsp;46</font></u></i></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">12.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">We note that the percentage of revenues attributable to contract research and government grant revenue has risen for each reportable period since December&nbsp;31, 2012, reaching a high of 79% for the six months ended June&nbsp;30, 2014. Please tell us whether this is a material trend that warrants enhanced disclosure in MD&amp;A.</i></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has added disclosure on page&nbsp;47 in Amendment No.&nbsp;1 regarding expected trends in its revenues.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Liquidity and Capital Resources, page&nbsp;52</font></u></i></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">13.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Please revise to disclose in greater detail the demands on liquidity that will accompany the implementation of your business plan. Discuss expenditures such as field testing, seeking regulatory approval for, and other expenses associated with developing and marketing your products, the timing of such demands, and the amount of funding required, short-term and long-term, the expected sources of funding and the impact on the company if the funding cannot be obtained. In addition, provide specific information about the timelines accompanying each proposed step in your business plan so that an investor can get a clearer picture of how and when you expect to reach revenue generation and the associated costs.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has added disclosure on pages&nbsp;53 and 54 in Amendment No.&nbsp;1. In addition, the Company respectfully advises the Staff that existing disclosure on page&nbsp;49 of Amendment No.&nbsp;1 discusses the expected amount and timing of research and development expenses and expected sources of funding, and that the existing disclosure on page&nbsp;53 of Amendment No.&nbsp;1 discusses the expected sources of funding.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Industry Overview, page&nbsp;66</font></u></i></b></p>
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<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Innovation and Commercialization Process in Biotech Seed Traits, page&nbsp;66</font></u></i></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">14.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Refer to the table on page&nbsp;66, and to the disclosure about Monsanto on page&nbsp;70. Please explain why the outcomes that Monsanto achieved would be relevant for GM trait research performed by other companies, or explain what would account for any differences in outcome. Clarify the</i></b></p>
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<p style="margin:0in 0in .0001pt .5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">reasons that the Monsanto 2011 Investor Toolkit is germane to the outcomes that Arcadia expects.</font></i></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that the field of GM trait development lacks a government-standard development measure equivalent to, for example, the FDA&#146;s drug review process for the field of drug development, which is based on clinical trials. However, the agricultural industry has adopted informally a somewhat analogous system, the development stages described in the Monsanto 2011 Investor Toolkit (the &#147;<b><i style="font-weight:bold;">Monsanto Toolkit</i></b>&#148;) as an industry standard. The Company believes that the Monsanto Toolkit framework has been adopted by the industry because the factors that affect the duration and probability of success of each stage in the GM trait research and development process are comparable across companies within the industry, due in part to the impact of plant biology on the development process and timeline. Therefore, the development stages described in the Monsanto Toolkit are generally applicable to trait research and development, whether conducted by Monsanto or by other companies, including the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to its general applicability, the Company believes that Monsanto&#146;s development stage framework has been adopted by the industry in part because Monsanto is the largest seed trait company in the world, and Monsanto&#146;s development process is therefore familiar to investors. Further, the toolkit is publicly available via Monsanto&#146;s website. The Company also respectfully advises the Staff that it believes that other companies as well as research analysts who cover the industry have adopted similar terminology.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For example, the Company notes that Evogene Ltd., a seed trait development company, utilizes the same Monsanto-sourced R&amp;D framework in its SEC filings, including in its Form&nbsp;F-1 Registration Statement (File No.&nbsp;333-191315) declared effective on November&nbsp;20, 2013. DuPont Pioneer, a seed development and production company, utilizes the same R&amp;D framework in its R&amp;D pipeline specification sheets available at http://www.pioneer.com/home/site/about/research/pipeline/specification-sheets/.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company also respectfully advises the Staff that research analysts have adopted similar terminology in their coverage reports on the industry. For example, research analyst reports issued for Evogene Ltd. from Deutsche Bank Markets Research, dated December&nbsp;17, 2013, Credit Suisse Securities Research&nbsp;&amp; Analytics, dated December&nbsp;16, 2013, Oppenheimer&nbsp;&amp; Co., dated December&nbsp;16, 2013, and Piper Jaffray, dated December&nbsp;16, 2013, all use language consistent with Monsanto&#146;s development stage framework to describe and analyze Evogene Ltd.&#146;s product development process. Therefore, the Company respectfully submits that this framework will be understood by potential investors in the Company and by analysts who elect to cover the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Business, page&nbsp;68</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Agricultural Productivity Traits, page&nbsp;74</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Agronomic Trait Stacks, page&nbsp;79</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">15.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Expand this section briefly to clarify why a molecular trait stack that is applicable to one crop would necessarily be feasible in another crop.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s comment, the Company has added clarifying disclosure to page&nbsp;80 and 81 in Amendment No.&nbsp;1. The Company respectfully advises the Staff that there are multiple examples of trait stacks working across multiple crops. Dow AgroScience&#146;s Enlist</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">TM</font>&#160;trait is an example of a molecular trait stack that has been commercialized in both corn and soybeans and is described at http://www.enlist.com/en/how-it-works/enlist-traits#corn.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Financial Statements, page&nbsp;F-1</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">16.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">Please update your financial statements pursuant to Rule&nbsp;8-08 of Regulation S-X.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the Staff&#146;s comment and respectfully advises that it has updated its financial statements to include the quarter ended September 30, 2014 in Amendment No. 1.</font></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">6<a name="PB_6_205653_4743"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Exhibits</font></u></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">17.</font></i></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i style="font-weight:bold;">We note your disclosure on pages&nbsp;49 - 50 that USAID accounted for 18% and 41% of your total revenues for the six months ended June&nbsp;30, 2013 and 2014, respectively, and that NIH accounted for 3% and 14% of your total revenues for the six months ended June&nbsp;30, 2013 and 2014, respectively. Please provide an analysis as to whether you are required to file your agreements with these entities. Please also provide an analysis as to whether you are required to file any agreements with respect to your two joint ventures, Limagrain Cereal Seeds LLC and Verdeca LLC.</i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that the Company&#146;s agreements with the USAID have been filed as exhibits to the Registration Statement in conjunction with Amendment No.&nbsp;1.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company respectfully advises the Staff that it has considered carefully its filing obligations with respect to its agreements with the NIH and respecting its two joint ventures, Limagrain Cereal Seeds LLC and Verdeca LLC, in light of the requirements of Item 601 of Regulation S-K. Item 601(b)(10)&nbsp;of Regulation S-K requires the filing of &#147;every contract not made in the ordinary course of business <i>which is material to the registrant</i> and is to be performed in whole or in part at or after the filing of the registration statement&#133;,&#148; and exempts from the filing requirement contracts &#147;such as ordinarily accompanies the kind of business conducted by the registrant and its subsidiaries&#148; unless it falls into certain categories. One of these categories is &#147;any contract upon which the registrant&#146;s business is substantially dependent&#133;.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company concluded that the NIH agreements are not material to the Company, as the Company&#146;s business is not substantially dependent on the NIH agreements, given that the revenues received under these agreements to date is less than 2% of the net proceeds the Company has received from private placements of equity and debt.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company also concluded that its Limagrain Cereal Seeds LLC and Verdeca LLC joint venture agreements are not material to the Company, nor is the Company&#146;s business substantially dependent on these agreements, given that the Company has not recognized any revenue to date from these joint ventures.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, the Company has determined that its agreements with the NIH, Limagrain, and Verdeca LLC are not required to be filed as exhibits to the Registration Statement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">***************</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please direct your questions or comments regarding the Company&#146;s responses or Amendment No.&nbsp;1 to the undersigned at (415) 773-4140 or by email at kdempsey@orrick.com or, in my absence, Christopher Austin at (212) 506-5234 or by email at caustin@orrick.com.</font></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">7<a name="PB_7_205705_2881"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ORRICK, HERRINGTON&nbsp;&amp;   SUTCLIFFE, LLP</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Karen A. Dempsey</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Karen A. Dempsey</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Eric J. Rey, Arcadia   Biosciences,&nbsp;Inc.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wendy S. Neal, Arcadia   Biosciences,&nbsp;Inc.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Christopher Austin, Orrick,   Herrington&nbsp;&amp; Sutcliffe, LLP</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Drew Williamson, Cooley LLP</font></p>    </td>   </tr>  </table>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">8<a name="PB_8_205740_435"></a></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
