•	Appointed Sherri M. Brown, Ph.D., to the Board of Directors. Dr. Brown will also serve as the chair of the newly formed Science and Technology Committee of the Board.

•	Secured a positive response from USDA-APHIS on the regulatory status of our CRISPR genome-edited C3007 trait in Camelina, paving the way for U.S. field tests in 2020.

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•	Secured all regulatory permits required for U.S. and Canadian sites, completed all seed scale up and other logistics activities to enable our field trials and announced plans for our 2020 Field Testing Program in Camelina and canola.

•	Signed a contract with a third-party seed company to advance our early development program in corn. The next steps in the technical development of our traits in corn include creating hybrid lines, bulking up seed, and conducting field testing. The goal of this effort is to evaluate the impact of several of our novel traits on seed yield in corn.

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YIELD10 BIOSCIENCE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

UNAUDITED

(In thousands, except share and per share amounts)

	Three Months Ended March 31,
	2020				2019
Revenue:
Grant revenue	$	179			$	124
Total revenue	179				124
Expenses:
Research and development	1,460				1,223
General and administrative	1,387				1,186
Total expenses	2,847				2,409
Loss from operations	(2,668		)		(2,285		)
Other income (expense):
Change in fair value of warrants	(957		)		—
Interest income	37				27
Other income (expense), net	(4		)		(2		)
Total other income (expense)	(924		)		25
Net loss from operations before income tax expense	(3,592		)		(2,260		)
Income tax expense	(8		)		—
Net loss	$	(3,600	)		$	(2,260	)
Basic and diluted net loss per share	$	(2.12	)		$	(8.61	)
Number of shares used in per share calculations:
Basic and diluted	1,697,125				262,567

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YIELD10 BIOSCIENCE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

UNAUDITED

(In thousands, except share and per share amounts)

	March 31, 2020				December 31, 2019
Assets
Current Assets:
Cash and cash equivalents	$	4,295			$	5,417
Short-term investments	5,475				5,700
Accounts receivable	54				72
Unbilled receivables	125				20
Prepaid expenses and other current assets	560				475
Total current assets	10,509				11,684
Restricted cash	254				332
Property and equipment, net	1,021				1,243
Right-of-use assets	2,990				3,141
Other assets	272				318
Total assets	$	15,046			$	16,718
Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity
Current Liabilities:
Accounts payable	$	135			$	279
Accrued expenses	1,579				1,326
Lease liabilities	473				602
Total current liabilities	2,187				2,207
Lease liabilities, net of current portion	3,512				3,619
Warrant liability	—				14,977
Other long-term liabilities	18				—
Total liabilities	5,717				20,803
Commitments and contingencies
Series B Convertible Preferred Stock ($0.01 par value per share); 0 and 5,750 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	—				—
Stockholders’ Equity (Deficit):
Series A Convertible Preferred Stock ($0.01 par value per share); 296 shares and 796 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	—				—
Common stock ($0.01 par value per share); 60,000,000 shares authorized at March 31, 2020 and December 31, 2019; 1,923,184 and 933,423 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	19				9
Additional paid-in capital	377,963				360,926
Accumulated other comprehensive loss	(159		)		(126		)
Accumulated deficit	(368,494		)		(364,894		)
Total stockholders’ equity (deficit)	9,329				(4,085		)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit)	$	15,046			$	16,718

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YIELD10 BIOSCIENCE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

UNAUDITED

(In thousands)

	Three Months Ended    March 31,
	2020				2019
Cash flows from operating activities
Net loss	$	(3,600	)		$	(2,260	)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation	48				50
Change in fair value of warrants	957				—
Loss on disposal of fixed assets	206				—
Charge for 401(k) company common stock match	42				24
Stock-based compensation	137				162
Non-cash lease expense	151				147
Deferred tax provision	30				—
Changes in operating assets and liabilities:
Accounts receivables	18				49
Unbilled receivables	(105		)		(13		)
Prepaid expenses and other assets	(69		)		(60		)
Accounts payable	(144		)		(105		)
Accrued expenses	259				(92		)
Lease liabilities	(236		)		(198		)
Other liabilities	18				—
Net cash used for operating activities	(2,288		)		(2,296		)
Cash flows from investing activities
Purchase of property and equipment	(42		)		—
Proceeds from sale of property and equipment	10				—
Purchase of short-term investments	(503		)		—
Proceeds from the sale and maturity of short-term investments	750				2,746
Net cash provided by investing activities	215				2,746
Cash flows from financing activities
Proceeds from warrants exercised	928				—
Proceeds from registered direct offering, net of issuance costs	—				2,597
Net cash provided by financing activities	928				2,597
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(55		)		(5		)
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,200		)		3,042
Cash, cash equivalents and restricted cash at beginning of period	5,749				3,355
Cash, cash equivalents and restricted cash at end of period	$	4,549			$	6,397
Supplemental disclosure of non-cash information:
Purchase of property and equipment included in accounts payable and accrued expenses	$	—			$	12
Offering costs remaining in accrued expenses	$	—			$	14