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Jun 30, 2021
Cibus Q2 2021 Earnings Report
Calyxt's financial performance improved with increased revenue and reduced operating expenses.
Key Takeaways
Calyxt reported a significant increase in revenue for Q2 2021, driven by higher product sales. The company also appointed Michael A. Carr as President and CEO and expanded its hemp breeding platform. Net cash used by operating activities improved year-over-year.
Appointed Michael A. Carr as President and Chief Executive Officer.
Expanded hemp breeding platform with "pollen-proof" hemp and genome transformation.
Sold more than 75% of the 2020 grain crop to ADM, generating $27 million in total cash since sales commenced in Q3 2020.
Net cash used by operating activities improved by $11.6 million year-over-year.
Forward Guidance
Calyxt believes its cash, cash equivalents, and restricted cash of $18.5 million will fund its operations into the second half of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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