Calyxt Switches Gears Again, But The Cash Clock Keeps Ticking Down

Writing about Calyxt (NASDAQ:CLXT) in the past, my concern was never whether the company’s core TALEN gene editing technology (licensed from Cellectis (CLLS)) worked, whether it could work in agriculture, or whether it could develop credible modified crops. My concern was whether the company could execute, and the answer was definitively “no”.

Now the company is on to its third iteration, attempting to remake itself as a “synthetic biology” company that harnesses its core competencies to develop and produce sustainable plant-based molecules for use in end-markets like pharmaceuticals, food/supplements, and cosmetics. The company starts this next chapter with less than $25 million in cash and not much time to convince potential partners of the validity of the platform in order to secure partnerships.

The basic concepts behind the company’s PlantSpring and BioFactory platforms seem credible, but this company has never given investors a reason to believe that they can deliver, and this is at best a speculative bet that Calyxt can secure enough capital to prove the commercial viability of this latest plan.

 

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Calyxt Switches Gears Again, But The Cash Clock Keeps Ticking Down