Calyxt® Reiterates 2019 Guidance and Gives Business Update During June 25 Investor Day
June 25 2019 - 9:27AM
Business Wire
Calyxt, Inc. (NASDAQ:CLXT), a healthy food ingredients company,
will host an Investor & Analyst Day at the Company’s
headquarters on Tuesday, June 25, 2019. During the event, the
Company will reiterate its 2019 financial guidance and give a
business update covering the following points:
- Affirmation of 2019 guidance:
- Projected FY 2019 revenue of $7-8 million
- Projected FY 2019 cash burn of $3-3.5 million per month
- Projected FY 2019 working capital of $2-3 million financed
internally
- Announcing more than one dozen customers for soybean meal and
Calyno™ oil
- Currently sold out of meal, with planned additional crush in
July
- Landus Cooperative represents future revenue opportunity on
meal sales
- Calyno™ oil is marketed through Sysco Foods, the previously
announced broadline foodservice distributor
- Grower planting progress of Calyxt High Oleic Soybean is in
line with industry average
The presentation materials are available on
www.calyxt.com/investors and a replay of the business presentation
will be available on June 26, 2019.
About Calyxt Calyxt is committed to making the food you
love a healthier choice. The care we take extends beyond
nutritional value. We partner with farmers and food companies to
deliver traceable plant-based products developed to be healthier
and more sustainable than their conventional counterparts. We use
cutting edge plant breeding techniques to develop products that
help improve diets by reducing bad fats, allergens and toxins.
Today oil from our high oleic soybean plants has lower saturated
fats than commodity soybean oil. We are also developing high fiber
wheat designed to provide an excellent source of daily fiber when
incorporated into wheat-based foods. We continuously pursue
innovation to deliver good food that is good for you.
Calyxt is located in Roseville, MN, and is listed on the Nasdaq
market (ticker: CLXT). For further information please visit our
website at www.calyxt.com.
Calyxt®, Calyno™ and the corporate logo are trademarks owned by
Calyxt, Inc.
Forward Looking Statements This communication contains
“forward-looking statements” within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. In some cases, you can identify these statements by
forward-looking words such as “may,” “might,” “will,” “should,”
“expects,” “plans,” “anticipates,” “believes,” “estimates,”
“predicts,” “potential” or “continue,” the negative of these terms
and other comparable terminology. These forward-looking statements,
which are subject to risks, uncertainties and assumptions about us,
may include projections of our future financial performance, our
anticipated growth strategies and anticipated trends in our
business. These statements are only predictions based on our
current expectations and projections about future events. There are
important factors that could cause our actual results, level of
activity, performance or achievements to differ materially from the
results, level of activity, performance or achievements expressed
or implied by the forward-looking statements, including those
factors discussed under the caption entitled “Risk Factors” in our
Annual Report on Form 10-K, along with our other filings with the
U.S. Securities and Exchange Commission. We do not assume any
obligation to publicly provide revisions or updates to any
forward-looking statements, whether as a result of new information,
future developments or otherwise, should circumstances change,
except as otherwise required by securities and other applicable
laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20190625005631/en/
Media Trina Lundblad, Communications Director Phone: +1
612-790-0514 email: trina.lundblad@calyxt.com
Investor Relations Simon Harnest, VP Corporate Strategy
and Finance Phone: +1 646-385-9008 email:
simon.harnest@calyxt.com
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