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Calyxt, a plant-based synthetic biology company, reported its Q3 2022 results, highlighting significant progress in production and partnerships. They successfully produced squalene, crucial for personal care and vaccines. The company evaluated 132 chemistries for potential customer development and signed an agreement with Evologic Technologies to enhance its Plant Cell Matrix technology. Despite liquidity challenges, Calyxt aims to maximize shareholder value and is actively exploring strategic alternatives. Financially, Q3 revenue was nominal at $7.2 million, with a net loss of $6.0 million, showing improved metrics compared to the previous year.
Calyxt, a plant-based synthetic biology company, has joined Bioindustrial Manufacturing and Design Ecosystem (BioMADE), a Department of Defense initiative aimed at boosting U.S. leadership in bioindustrial manufacturing. Membership provides access to a network of corporations, startups, and research organizations to enhance bio-manufacturing innovation. Calyxt targets advancements in its plant-based technologies and sustainable bioproducts, coinciding with the recent $2 billion funding from the White House for biotechnology initiatives to lower costs and strengthen supply chains.
Calyxt, a plant-based synthetic biology company, will host a conference call on November 3, 2022, at 4:30 p.m. ET to discuss its third quarter 2022 financial results. Key executives, including President Michael A. Carr and CFO Bill Koschak, will present on the call. Interested participants can access the call via the company's investor relations website. A press release detailing the financial performance will precede the call. A replay will be available for 30 days post-event.
Calyxt, Inc. (NASDAQ: CLXT) announced the successful production of squalene, a key ingredient in personal care products and vaccine adjuvants, using its Plant Cell Matrix™ biomass. This plant-based squalene presents a sustainable alternative to animal-derived sources, traditionally obtained from shark liver oil. The company, leveraging its PlantSpring™ technology, aims to optimize commercial-scale production in collaboration with Evologic Technologies. This achievement is seen as significant for both the cosmeceutical and pharmaceutical sectors, meeting rising demands for sustainable ingredients.
Calyxt, Inc. (Nasdaq: CLXT), a plant-based synthetic biology firm, announced a crucial agreement with Evologic Technologies GmbH on October 6, 2022. This partnership aims to enhance and scale Calyxt's proprietary Plant Cell Matrix™ (PCM™) technology, catering to the rising demand for sustainable ingredients in cosmeceuticals, nutraceuticals, and pharmaceuticals. Evologic’s expertise will aid in advancing PCM-derived compounds and establishing proof of concept for simultaneous commercial production of multiple PCMs.
Calyxt, Inc. (NASDAQ: CLXT) announced on September 22, 2022, that its Board of Directors is exploring strategic alternatives to enhance shareholder value. This comprehensive evaluation may involve financing, mergers, asset sales, or other transactions, with Canaccord Genuity as financial advisor and Sidley Austin as legal counsel. There is no guarantee of a successful outcome, and no timeline has been established for the completion of this process. The company has not committed to providing updates on this matter unless a definitive agreement is reached.
Calyxt, a plant-based synthetic biology company (Nasdaq: CLXT), announced that its CEO Michael A. Carr and CFO Bill Koschak will present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. Their presentation is scheduled for September 13 at 2:30 p.m. ET, and a webcast is available here. Attendees can also arrange 1:1 meetings. More details and the presentation replay can be found on Calyxt's website.
Calyxt reported significant developments in its second quarter results for 2022, evaluating a total of 95 customer demand-driven chemistries, with 31 meeting target profiles for potential advancement. The company has initiated discussions with multiple infrastructure partners for scale production and is negotiating term sheets for technology licensing, notably related to its high oleic soybean and high fiber wheat.
Financially, Calyxt recorded a revenue decline to nominal figures from $11.9 million in the previous year due to the wind-down of its soybean product line, while total operating expenses increased to $6.8 million.
Calyxt, Inc. (Nasdaq: CLXT), a plant-based synthetic biology company, will present at the Canaccord Genuity 42nd Annual Growth Conference from August 8-11, 2022. CEO Michael A. Carr and CFO Bill Koschak are scheduled to speak on August 11, 2022, at 1:00 p.m. ET. The presentation will be available via webcast at this link. Additionally, Calyxt management is open to 1:1 meetings with attendees, coordinating through event organizers or investors@calyxt.com.
Calyxt, a plant-based synthetic biology company (Nasdaq: CLXT), will conduct a conference call on August 4, 2022, at 4:30 p.m. Eastern Time to discuss its second-quarter results ending June 30, 2022. The call, hosted by CEO Michael A. Carr and CFO Bill Koschak, will include a presentation and Q&A session. Participants can join via toll-free dial-in or stream the event online. A replay will be available for 30 days post-event. For more details, visit Calyxt's website.
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