I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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ROSEVILLE, Minn., November 9, 2019 – Shares of Calyxt Inc. (NASDAQ: CLXT) declined -6.47% to $4.05. The stock grabbed the investor’s attention and traded 414.306K shares as compared to its average daily volume of 68.07K shares. The stock’s institutional ownership stands at 26.70%.
Calyxt, Inc. (NASDAQ: CLXT) reported revenues of $408.0K for the three months ended June 30, 2019, the majority of which were from sales of meal. R&D expenses were $2.70M for the three months ended June 30, 2019 compared to $3.20M for the three months ended June 30, 2018. The decrease was due to a $0.80M decrease in non-cash stock compensation expense partially offset by an increase in cash expenses associated with additional staff.
SG&A expenses were $6.40M for the three months ended June 30, 2019 compared to $4.00M for the three months ended June 30, 2018. The increase was due to the addition of personnel to support the commercialization of our High Oleic Soybean products in sales and supply chain and an increase in non-cash stock compensation expense of $0.80M.
Cash, cash equivalents and restricted cash were $77.90M at June 30, 2019. We are continuing to actively manage the use of cash and expect to have sufficient cash to fund the business into early 2021.
Loss from operations was $9.40M for the three months ended June 30, 2019 compared to $7.60M for the three months ended June 30, 2018.
Net cash used in operating activities was $15.90M for the six months ended June 30, 2019, compared to $8.80M for the six months ended June 30, 2018.
CLXT has a market value of $124.38M while its EPS was booked as $-1.00 in the last 12 months. The stock has 30.71M shares outstanding. In the profitability analysis, the company has gross profit margin of 43.30%. Analyst recommendation for this stock stands at 1.30.