We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Calyxt Inc | NASDAQ:CLXT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.30 | 6.30 | 7.00 | 0 | 01:00:00 |
Calyno™ High Oleic Soybean Oil and High Oleic Soybean Meal customers increase to nearly 20, which includes Sysco
Signed agreement with Landus Cooperative, providing crushing capacity and High Oleic Soybean Meal distribution
Crushed more than 200,000 bushels of High Oleic Soybeans in July, and sold out of resulting High Oleic Soybean Meal
2018 grain purchases nearly complete as of late July 2019
2019 planted acres exceed 36,000 acres
2020 acreage target remains at 100,000 contracted acres
Cash, cash equivalents and restricted cash of $77.9M
Calyxt, Inc. (NASDAQ: CLXT), a healthy food ingredients company, today announced its results for the second quarter ended June 30, 2019.
Investor Call Details
Calyxt will host an investor call on August 7, 2019 at 8:30 a.m. Eastern Time – 7:30 a.m. Central Time to discuss its financial results and provide a general business update.
US & Canada only: +1 (877) 407-9747 International: +1 (412) 902-0044
In addition, a replay of the call will be available for one month following the conference by calling +1 (877) 660-6853 (Toll Free US & Canada); +1 (201) 612-7415 (Toll Free International).
The archived webcast of this event may be accessed through the Calyxt website, using passcode 13673206.
“We are excited by our accomplishments in the second quarter, as we continued to deliver on key operating milestones and progress on the commercial launch of our first product. We have increased our customer base to nearly 20. We are thrilled to have Landus, one of the world’s leading agricultural cooperatives and soybean processors, as a crusher and distributer of our High Oleic Soybean Meal. We have also nearly completed the purchase of all stored grain from our growers,” said Jim Blome, CEO of Calyxt. “I would also like to highlight the addition of Travis Frey, Ph.D. as our Chief Technology Officer – with Travis we continue to build our leadership team in strategic areas as he advances our technical capabilities and platform. In closing, the first half of 2019 experienced the impact of severe weather resulting in record numbers of prevent plant acres. The impact was felt across the Plains states, and nowhere more than in South Dakota, our primary growing region. Nevertheless, our planted acres were slightly more than 36,000 acres, doubling the acres planted in 2018 and consistent with our original plans for 2019.”
High Oleic Soybean
Financial Highlights
Corporate Update
About Calyxt
Calyxt is committed to making the food you love a healthier choice. The care we take extends beyond nutritional value. We partner with farmers and food companies to deliver traceable plant-based products developed to be healthier and more sustainable than their conventional counterparts. We use cutting edge plant breeding techniques to develop products that help improve diets by reducing bad fats, allergens and toxins. Today oil from our high oleic soybean plants has lower saturated fats than commodity soybean oil. We are also developing high fiber wheat designed to provide an excellent source of daily fiber when incorporated into wheat-based foods. We continuously pursue innovation to deliver good food that is good for you.
Calyxt®, Calyno™ and the corporate logo are trademarks owned by Calyxt, Inc.
Calyxt is located in Roseville, MN, and is listed on the Nasdaq market (ticker: CLXT). For further information please visit our website at www.calyxt.com.
Calyxt Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors discussed under the caption entitled “Risk Factors” in our Annual Report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by applicable laws.
CALYXT, INC.
BALANCE SHEETS
(In Thousands, Except Par Value and Share Amounts)
June 30, 2019 (unaudited)
December 31, 2018
Assets
Current assets:
Cash and cash equivalents
$
76,434
$
93,794
Restricted cash
381
381
Trade accounts receivable
810
-
Due from related parties
78
46
Inventory
111
-
Prepaid expenses and other current assets
1,470
1,301
Total current assets
79,284
95,522
Non-current restricted cash
1,128
1,113
Land, buildings, and equipment
22,480
21,850
Other non-current assets
684
306
Total assets
$
103,576
$
118,791
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable
$
395
$
818
Accrued expenses
1,993
2,007
Accrued compensation and benefits
1,238
1,305
Due to related parties
781
1,905
Current portion of financing lease obligations
308
258
Other current liabilities
253
711
Total current liabilities
4,968
7,004
Financing lease obligations
18,259
18,227
Other non-current liabilities
159
163
Total liabilities
23,386
25,394
Stockholders’ equity:
Common stock, $0.0001 par value; 275,000,000 shares authorized; 32,918,599 shares issued and 32,859,700 shares outstanding as of June 30, 2019 and 32,664,429 shares issued and 32,648,893 shares outstanding as of December 31, 2018
3
3
Additional paid-in capital
180,237
176,069
Common stock in treasury, at cost; 58,899 shares as of June 30, 2019, and 15,536 shares as of December 31, 2018
(789)
(230)
Accumulated deficit
(99,223)
(82,445)
Accumulated other comprehensive loss
(38)
-
Total stockholders’ equity
80,190
93,397
Total liabilities and stockholders’ equity
$
103,576
$
118,791
CALYXT, INC.
STATEMENTS OF OPERATIONS
(Unaudited and in Thousands Except Shares and Per Share Amounts)
Three months ended June 30,
2019
2018
Revenue
$
408
$
196
Operating expenses:
Cost of revenue
303
-
Research and development
2,738
3,241
Selling and general and administrative
6,408
4,048
Management fees and royalties
451
399
Total operating expenses
9,900
7,688
Loss from operations
(9,492)
(7,492)
Interest, net
92
(72)
Foreign currency transaction loss
(3)
(12)
Loss before income taxes
(9,403)
(7,576)
Income taxes
-
-
Net loss
$
(9,403)
$
(7,576)
Basic and diluted loss per share
$
(0.29)
$
(0.25)
Weighted average shares outstanding - basic and diluted
32,732,988
29,840,827
CALYXT, INC.
STATEMENTS OF OPERATIONS
(Unaudited and in Thousands Except Shares and Per Share Amounts)
Six months ended June 30,
2019
2018
Revenue
$
566
$
207
Operating expenses:
Cost of revenue
337
-
Research and development
4,957
4,410
Selling and general and administrative
11,475
6,603
Management Fees
812
982
Total operating expenses
17,581
11,995
Loss from operations
(17,015)
(11,788)
Interest, net
264
(140)
Foreign currency transaction (loss) gain
(27)
(18)
Loss before income taxes
(16,778)
(11,946)
Income taxes
-
-
Net loss
$
(16,778)
$
(11,946)
Basic and diluted loss per share
$
(0.51)
$
(0.41)
Weighted average shares outstanding - basic and diluted
32,704,834
28,851,491
CALYXT, INC.
STATEMENTS OF CASH FLOWS
(Unaudited and in Thousands)
Six months ended June 30,
2019
2018
Operating activities
Net loss
$
(16,778)
$
(11,946)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation
689
371
Stock-based compensation
3,860
2,427
Unrealized foreign exchange gain
—
6
Changes in operating assets and liabilities:
Trade accounts receivable
(810)
—
Due to/from related parties
(1,156)
47
Inventory
(111)
—
Prepaid expenses and other assets
(169)
(799)
Accounts payable
(423)
25
Accrued expenses
(14)
275
Accrued compensation and benefits
(67)
(318)
Other accrued liabilities
(513)
1,084
Other non-current assets
(378)
—
Net cash used by operating activities
(15,870)
(8,828)
Investing activities
Purchases of land, buildings and equipment
(1,319)
(498)
Net cash used by investing activities
(1,319)
(498)
Financing activities
Costs incurred related to the issuance of stock
—
(665)
Proceeds from common stock issuance
—
57,706
Payments for financing lease obligations
(122)
—
Proceeds from the exercise of stock options
308
1,241
Costs incurred related to shares withheld for net share settlement
(559)
—
Proceeds from sale and leaseback of land, buildings, and equipment
217
—
Net cash (used) provided by financing activities
(156)
58,282
Net decrease in cash, cash equivalents and restricted cash
(17,345)
48,956
Cash, cash equivalents and restricted cash – beginning of period
95,288
56,664
Cash, cash equivalents and restricted cash – end of period
$
77,943
$
105,620
View source version on businesswire.com: https://www.businesswire.com/news/home/20190806006025/en/
Investor Relations: Simon Harnest, VP Corporate Strategy and Finance Phone: +1 (646) 385-9008 email: simon.harnest@calyxt.com
Bill Koschak, Chief Financial Officer Phone: + (651)-401-4401 Email: bill.koschak@calyxt.com
Media: Trina Lundblad, Director of Communications Phone: +1 (612) 790-0514 email: media@calyxt.com
1 Year Calyxt Chart |
1 Month Calyxt Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions