Why Did The Arcadia Biosciences (RKDA) Stock Rise In Extended Session On Wednesday?

At the time of the most recent check, shares of Arcadia Biosciences Inc. (NASDAQ: RKDA), a manufacturer and distributor of cutting-edge, plant-based health and wellness products, were up 5.01% to trade at $0.3543 in after-hours trading.

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Where has RKDA been growing?

More than 1,000 retail outlets coast to coast are now carrying its GoodWheat pasta, announced Arcadia Biosciences (RKDA). With this action, Arcadia Biosciences has doubled its availability in the 6 months since its introduction and has given customers a healthy option to a common home item. GoodWheat, which debuted in June 2022, is a cutting-edge and nutritious addition to the pasta market and the only item available that uses Arcadia’s own non-GMO wheat grain.

RKDA has been extending its reach and offering customers better-for-you pasta that tastes wonderful and has considerable health advantages as consumer demand for nutritious alternatives to their favorite comfort meals continues to rise. Dietary Guidelines for Americans 2020–2025 state that less than 10% of Americans consume the daily recommended amount of fiber. Thanks to GoodWheat, people can now eat their favorite pasta dishes and yet receive the protein and fiber they require.

For the 60% of American adults who want to boost their fiber consumption to enhance their healthy digestion, cardiovascular health, weight management, and other health conditions, GoodWheat pasta has four times as much fiber as ordinary pasta: 8g per serving compared to 2g in conventional wheat pasta. GoodWheat pasta is also strong in prebiotic fiber to promote gut health and immunity and offers 9 grams of protein per serving, which is nearly 25% more than the 7g in most standard pastas.

OKDA announced a change in management

With effect from January 3, 2023, Thomas J. Schaefer will take over as CFO of RKDA in lieu of Pam Haley, who was previously reported as departing the organization. Currently, Mr. Schaefer serves as vice president of finance and investor relations at RKDA. The departing CFO will continue to serve as an advisor to aid with the transition.

How will the new CFO change things at RKDA?

Mr. Schaefer has taken the lead in both the creation of Project Greenfield, RKDA’s long-term strategy, and the commercial launch of GoodWheat. He has already made a significant contribution to the company’s shift from research to consumer products thanks to his extensive industry experience and strong network.


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