Cibus Q4 2021 Earnings Report
Key Takeaways
Calyxt reported a decrease in revenue due to the wind-down of its soybean product line, but net loss improved due to improved gross profits and reduced operating expenses. The company achieved milestones in operationalizing its BioFactory production system and expanded its AIML capabilities.
Operationalized the initial pilot BioFactory production system.
Expanded AIML capabilities across the PlantSpring technology platform.
Advanced discussions with potential customers in cosmeceutical, nutraceutical, and pharmaceutical industries.
Closed SEC-registered offering of common stock generating gross proceeds of $10.9 million.
Cibus
Cibus
Forward Guidance
Calyxt anticipates that the proceeds from the offering will be used to support the continued growth and scaling of its BioFactory business model and selective hiring to support the progression and expansion of its AIML capabilities. Calyxt expects its cash runway to extend to late 2022.