April 26, 2018 12:40 PM ET

Biotechnology

Company Overview of Calyxt, Inc.

Company Overview

Calyxt, Inc., a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, enhanced oil composition and herbicide tolerant canola, enhanced quality and herbicide tolerant alfalfa, late blight resistant potatoes, and cold storable/reduced browning potatoes, as well as enhanced protein composition, drought tolerant, herbicide tolerant, and enhanced yield soybeans. The Company was formerly known as Cellectis Plant Sciences, Inc. and changed its nam...

600 County Road D West

Suite 8

New Brighton, MN 55112

United States

Founded in 2010

35 Employees

Phone:

651-683-2807

Key Executives for Calyxt, Inc.

Chief Executive Officer
Age: 40
Total Annual Compensation: $306.8K
Founder & Chief Science Officer
Age: 54
Total Annual Compensation: $280.0K
CFO and Principal Financial & Accounting Officer
Age: 49
Total Annual Compensation: $16.8K
Compensation as of Fiscal Year 2016.

Calyxt, Inc. Key Developments

Calyxt, Inc. Presents at Jefferies IO Cell Therapy Investment Conference, Apr-03-2018 08:20 AM

Calyxt, Inc. Presents at Jefferies IO Cell Therapy Investment Conference, Apr-03-2018 08:20 AM. Venue: Boston Harbor Hotel, Boston, Massachusetts, United States. Speakers: André Choulika, Chairman of the Board.

Calyxt, Inc.’s High Fiber Wheat Deemed Non-Regulates by USDA

Calyxt, Inc. announced that the company’s high fiber wheat product has been declared a non-regulated article under the 'm I Regulated?' process by Biotechnology Regulatory Services of the Animal and Plant Health Inspection Service (APHIS), an agency of the United States Department of Agriculture (USDA). This is Calyxt’s first consumer-centric wheat product and second wheat product (following Calyxt’s powdery mildew resistant wheat, which received non-regulated status by the USDA in February 2016), and seventh product overall, to be given this designation. Calyxt’s high fiber wheat was developed using the Company’s proprietary gene-editing technology, TALEN, and does not contain any foreign DNA. With this USDA confirmation, Calyxt will now continue its trait validation in small- and large-scale field trials and food application development. According to industry sources, the wheat market in North America was estimated at 98 million tons in 2017, with approximately 43% used for human consumption in the U.S. While traditional white flour is losing ground, premium products including demand for fiber is estimated to grow at a compound annual growth rate of 11.6% globally. Calyxt’s high fiber wheat is currently in Phase 1 of the development process and on track for commercialization as early as 2020/2021. This product is now part of a total of seven Calyxt products that have been deemed non-regulated by the USDA, including powdery mildew resistant wheat, high oleic soybean, high oleic /low linolenic soybean, improved quality alfalfa, cold storable potato and reduced browning potato.

Calyxt, Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and Year 2018

Calyxt, Inc. announced earnings results for the fourth quarter and full year ended December 31, 2017. For the fourth quarter, the company’s net loss was $6.8 million. The net loss includes non-cash stock option expense related to grants from 2014 to 2017 for the fourth quarter was $2.1 million. For the year, the company’s revenue was $508,000 against $399,000 a year ago. Loss from operations was $25,789,000 against $12,109,000 a year ago. Loss before income taxes was $25,980,000 against $12,086,000 a year ago. Net loss was $25,980,000 against $12,086,000 a year ago. Basic and diluted loss per share was $1.12 against $0.62 a year ago. Net cash used in operating activities was $12,785,000 against $9,237,000 a year ago. Purchases of property and equipment were $779,000 against $10,424,000 a year ago. For the first quarter of 2018, the company projects a cash burn rate in the range of $6.0 to $7.0 million. This increased cash spend reflects spending in the first half of 2018 on high oleic soybean seed production to support Spring product launch, a continued expansion of R&D team to advance key products in the portfolio and the build-out of commercial capabilities. Looking forward towards 2018, the company anticipates that operating cash spend will increase as the company continues to expand R&D team to advance key products in the portfolio and build out or commercial capabilities.

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