CLXT - Calyxt Non-GAAP EPS of -$0.13 beats by $0.02 revenue of $0.04M misses by $0.31M
- Calyxt press release ( NASDAQ: CLXT ): Q3 Non-GAAP EPS of -$0.13 beats by $0.02 .
- Revenue of $0.04M (-99.5% Y/Y) misses by $0.31M .
- "We continue to be focused on the effective and prudent use of our cash resources and we have reduced costs while executing on near term milestones. In the third quarter of 2022 we achieved the lowest burn rate the Company has seen in recent years," said Bill Koschak, Chief Financial Officer at Calyxt. "Our cash burn in the third quarter of 2022 was $4.7 million, $1.2 million less than the second quarter of 2022. The results of our cost saving efforts, which are ongoing and include discretionary actions in management's control, and the legal settlement, have provided cash runway into the second quarter of 2023. Calyxt is also exploring its ability to pursue certain U.S. government grant programs that were previously unavailable to us because of Cellectis' majority ownership."
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Calyxt Non-GAAP EPS of -$0.13 beats by $0.02, revenue of $0.04M misses by $0.31M