CLXT - CLXT STOCK NEWS

Calyxt, a plant-based technology company, reported its second-quarter results for 2021 with a revenue of $11.9 million, up 415% year-over-year. Key developments included the appointment of Michael A. Carr as CEO and advancements in hemp breeding technologies, specifically the introduction of triploid breeding for seedless hemp. Despite an increase in cost of goods sold to $11.5 million, gross margin improved to $0.4 million. The net loss narrowed to $4.8 million, a 56% improvement from the previous year. Cash reserves stood at $18.5 million, projected to sustain operations into late 2022.

Calyxt, Inc. (Nasdaq: CLXT) will present at the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021, at 11:00 a.m. ET. The presentation will be held in a virtual format and is accessible via a live webcast.

Individuals interested in attending can find the webcast link here. This event highlights Calyxt's commitment to innovation in plant-based biotechnology, demonstrating their focus on sustainable materials and products throughout the industry.

Calyxt, Inc. (NASDAQ: CLXT) has announced the grant of performance stock units (PSUs) to newly appointed CEO Michael A. Carr, effective July 27, 2021. Mr. Carr's award includes PSUs for acquiring up to 600,000 shares, contingent on achieving specific trading price levels over a three-year period. The PSUs will vest at $12.00, $15.00, and $20.00 price points. This award is part of the newly adopted 2021 Employee Inducement Incentive Plan and aims to incentivize Mr. Carr's performance and align his interests with shareholders.

Calyxt, Inc. (NASDAQ: CLXT) will hold a conference call on August 5, 2021, at 4:30 p.m. Eastern time, to discuss its second-quarter financial results for the period ending June 30, 2021. The call will be hosted by Dr. Yves Ribeill, Michael A. Carr, and Bill Koschak. A press release with detailed results will be issued prior to the call, and the event can be accessed via their investor relations website. A replay will be available for one month post-event.

Calyxt, a plant-based biotechnology company (NASDAQ: CLXT), has appointed Michael A. Carr as its new President and Chief Executive Officer, effective July 27, 2021. Carr, previously with Darling Ingredients, brings over 20 years of experience in business and operational leadership. His expertise in health, nutrients, and bioenergy aligns with Calyxt's goal of advancing its plant-based technologies. Executive Chair Yves Ribeill highlighted Carr's operational and financial skills as crucial for the company's growth and innovation in plant metabolism.

Calyxt, Inc. (NASDAQ: CLXT) announced the expansion of its hemp breeding platform with new triploid breeding technology to create seedless hemp. This innovation succeeds the recent successful transformation of the hemp genome, reinforcing the company’s leadership in modernizing hemp cultivation. Seedless hemp offers benefits such as improved fiber quality, increased yields, and effective management of pollination risks. The company aims to make this patent-pending technology accessible to industry partners, targeting applications in plant-based products.

Calyxt, a plant-based technology company, reported first-quarter 2021 revenues of $4.4 million, an 85% year-over-year increase, mainly due to grain sales. However, cost of goods sold rose by 74% to $6.7 million, resulting in a negative gross margin of $2.3 million. Operating expenses decreased 20% to $7.3 million, and the net loss narrowed to $10 million. Calyxt highlighted developments in its soybean and hemp products, including promising results for its high oleic soybean. The company aims to commercialize these advancements while maintaining a focus on licensing traits instead of seed sales.

Calyxt (NASDAQ:CLXT) has announced the development of its next generation premium high oleic low linolenic (HOLL) soybean oil, which surpasses industry standards in the premium oil segment. This product boasts a superior fatty acid profile and enhanced oxidative stability, making it competitive with high-oleic sunflower oil. With foundation seed production completed, HOLL is set for potential market launch in 2023, and Calyxt aims to collaborate with elite soybean companies to introduce this innovative product globally.

Calyxt (NASDAQ:CLXT) has announced a groundbreaking achievement in hemp transformation technology, enabling selective breeding and trait delivery for key markets including protein, fiber, and wellness. This innovation marks a significant advance in making hemp a viable broad-acre crop, overcoming historical breeding challenges. The company aims to commercialize these improvements through partnerships and licensed traits, positioning itself at the forefront of agricultural innovation.