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RKDA

Arcadia Biosciences

$3.63

-0.04 (-1.09%)

05:29
01/14/19
01/14
05:29
01/14/19
05:29

Arcadia Biosciences announces end to lawsuit against Arista Cereal Technologies

Arcadia Biosciences announced that its lawsuit in the United States District Court for the Southern District of New York against Arista Cereal Technologies, Pty. Ltd. has ended based on a jurisdictional decision by the court. The lawsuit sought to correct inventorship on key patents for Arista's high-amylose wheat. "The vast majority of our GoodWheat portfolio as well as the overall target market for our wheat, soy and other nutrition and ingredient products is unaffected by our dispute with Arista. Our global commercialization plans for those products remain on track, with first sales expected this year," said Raj Ketkar, president and CEO of Arcadia. "We remain committed to defending our intellectual property, however, and are still pursuing other avenues to protect our technology." Arcadia's GoodWheat platform is a portfolio of novel non-GM wheat varieties including high fiber resistant starch, or RS, reduced gluten and others. These varieties have been specially bred for unique value using Arcadia's non-GM TILLING platform and can be delivered as organic or conventional wheat. For instance, Arcadia's RS GoodWheat contains up to 94 percent amylose, the highest levels available, which has been proven to deliver significant health benefits. These same wheat varieties deliver total dietary fiber levels high enough to meet the FDA's "Good Source" of fiber or "High in Fiber" designations on consumer packaging. In addition, Arcadia recently announced a major partnership with Ardent Mills, North America's leading flour-milling and ingredient company, to develop and commercialize innovative wheat trait improvements. The first project focuses on extending the shelf life and improving the taste of whole wheat products for North American consumers, driving the increased consumption of fiber.

RKDA Arcadia Biosciences
$3.63

-0.04 (-1.09%)

06/19/18
HCWC
06/19/18
INITIATION
Target $20
HCWC
Buy
Arcadia Biosciences initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju started Arcadia Biosciences with a Buy rating and $20 price target. The analyst views the current valuation as an attractive entry point "with multiple potential catalysts." He believes the RS Wheat brand alone could justify "significant upside" from current levels.

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