CLXT - All-Stock Merger Creates Significant Buying Pressure

A Minnesota-based micro cap is turning heads following the long weekend after the company announced that it has entered into a definitive merger agreement under with %Cibus in which the company will merge in an all-stock transaction. The merger will create a new industry-leading company that combines the two pioneers in agriculture-based gene editing and establishes one of the world's most sophisticated facilities for trait development and next-generation %PlantBreeding , according to the release.

This caused shares of %Calyxt () to catch a significant bid during Tuesday’s premarket activity as traders are currently willing to buy shares at $0.53/share (+185.41% implied open for sellers) at the time of writing.

Calyxt Inc is a plant-based synthetic biology company. The company leverages its proprietary PlantSpring technology platform to engineer plant metabolism to produce innovative high value plant-based chemistries for use in customers' materials and products. As plant-based solutions, the company's synthetic biology products can be used in helping customers meet sustainability targets and financial goals. The company's diversified offerings are primarily delivered through its proprietary %BioFactory production system.