Therapeutics segment2016 vs. 2017
External revenues in our Therapeutics segment decreased by $22.9 million, or 41.0%, from $55.9 million for the year ended
December 31, 2016 to $33.0 million for the year ended December 31, 2017. The decrease was primarily due to a decrease of $19.1 million in collaboration agreement revenues and lower subsidies revenue and research tax credit, as
described in sections Revenues and Other income of the consolidated operating result analysis.
The decrease in
operating expenses of $7.6 million, or 6.6%, from the year ended December 31, 2016 to the year ended December 31, 2017 resulted primarily from lower personnel expenses, mainly attributable to the decrease in
non-cash
stock-based compensation expenses and social charges on stock options grants, and is partially offset by the increase in purchases and external expenses for product development.
Segment operating loss before tax for the Therapeutics segment increased by $15.3 million, or 26.2%, from the year ended
December 31, 2016 to the year ended December 31, 2017.
Therapeutics segment2015 vs. 2016
External revenues in our Therapeutics segment decreased by $6.7 million, or 10.6%, from $62.5 million for the year ended
December 31, 2015 to $55.9 million for the year ended December 31, 2016. The decrease was primarily due to a decrease of $11.7 million in collaboration agreement revenues and higher research tax credit, as described in sections
Revenues and Other income of the consolidated operating result analysis.
The increase in operating expenses of
$25.8 million, or 29.1%, from the year ended December 31,2015 to the year ended December 31, 2016 resulted primarily from higher personnel expenses, attributable, among other things, to the increase in
non-cash
stock-based compensation expenses, as well as the increase in external expenses for product development.
Segment operating loss before tax for the Therapeutics segment increased by $32.4 million, or 124.5%s from the year ended
December 31, 2015 to the year ended December 31, 2016.
Plants segment2016 vs. 2017
External revenues in our Plants segment increased by $0.2 million, or 27.6%, from $0.6 million for the year ended December 31,
2016 to $0.7 million for the year ended December 31, 2017.
The increase in operating expenses of $10.2 million, or 108.4%,
from the year ended December 31, 2016 to the year ended December 31, 2017 resulted primarily from a significant increase in Calyxts activities, higher professional fees related to the cost of becoming a Nasdaq listed company, as well
as an increase in
non-cash
stock-based compensation expenses.
Segment operating loss before tax
for the Plants segment increased by $10.0 million, or 113.8%, from $8.8 million for the year ended December 31, 2016 to $18.8 million for the year ended December 31, 2017.
Plants segment2015 vs. 2016
External revenues in our Plants segment increased by $0.5 million, from $49 thousand for the year ended December 31, 2015 to
$0.6 million for the year ended December 31, 2016.
The increase in operating expenses of $4.4 million, or 88.7%, from the
year ended December 31, 2015 to the year ended December 31, 2016 resulted primarily from a significant increase in Calyxts activities, as well as an increase in
non-cash
stock-based
compensation expenses.
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