RKDA - Arcadia Biosciences stock sees 25% wipeout as Q4 revenue falls ~70% Y/Y

Arcadia Biosciences (RKDA -25.1%) stock fell March 31, a day after the company reported its Q4 results, which missed analysts' estimates. Q4 total revenues declined -69.55% Y/Y to $2.17M. Net loss for Q4 was $9.28M, compared to $8.9M of income in Q4 2020. Q4 operating expenses were $15.98M, compared to ($339K) in Q4 2020. The company said R&D spending of $561K in Q4 decreased by $1.4M, compared to Q4 2020, primarily due to the increased focus on commercialization versus R&D activities.

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Arcadia Biosciences stock sees 25% wipeout as Q4 revenue falls ~70% Y/Y