Bioceres ‘Not Minimizing’ Investor Concerns as Shares Plunge

Bioceres Crop Solutions SA, once a star of Argentina’s biotechnology industry, says investor concerns about the company going out of business are justified given its dire predicament.

“Our financial statements disclose that substantial doubt about the company’s ability to continue as a going concern remains,” Chief Executive Officer Federico Trucco wrote in a letter to shareholders on Monday, after posting earnings. “We are not minimizing this conclusion.”

Its drought-tolerant wheat seeds promised to overcome deep-seated fears about directly ingesting genetically-modified flour and become the first GMO wheat on global markets. At the peak of euphoria in 2021, Bioceres shares ...