Romainville, October 6, 2009 - Cellectis S.A. (Alternext: ALCLS), the French genome engineering
specialist, today published its consolidated financial statement for the half-year ending June 30, 2009.
The statement shows a 45% rise in expenditure and consolidation of the company's cash reserves at
around €27 million.
Operating expenditure rose from €7.5 million in H1 2008 to €11 million in H1 2009 (a 45% increase), resulting from the rapid growth of the company and an increase in employees across the businesses. Cellectis had 80 employees at the end of June 2009 - up from 55 as of June 30, 2008 and 35 in early 2007. Operating revenues for the period amounted to €5 million; this figure is down compared to the corresponding period in 2008 (which included a significant payment from Regeneron) but does not include the agreement with Monsanto signed in August. The company's cash reserves grew from €19 million at the end of June 2008 to €27 million at the end of June 2009.
"We are satisfied with these figures, which demonstrate the strength of our business model and are in line with the commitments we made at the time of the company's IPO in early 2007", stated André Choulika, CEO at Cellectis. "We have confirmed our ability to finance our growth according to our business plan and we have substantially exceeded a production capacity of 20 meganucleases a year - a key objective at the time of stock market listing".
"These figures confirm that our operating activity is burning minimal cash and we are well positioned for continued growth", added CFO Marc Le Bozec. "We have a solid medium- and long-term cash position and are on course to achieve our objective of profitability by 2012".
About Cellectis S.A.
Cellectis S.A. is a world leader in genome engineering and genome surgery. The company focuses on developing and producing custom meganucleases for use in vivo genome surgery in the therapeutic, agrifood, biomanufacturing and research sectors. Worldwide, Cellectis has entered into more than 50 agreements with major players in the pharma, biotech and agribiotech industries and has over 20 collaborations with academic research groups. To date, Cellectis has raised over €50 million in both equity operations and public financing and is listed on the NYSE-Euronext Alternext market (ticker code: ALCLS). For more information on Cellectis, visit our website: www.cellectis.com
Disclaimer
This press release contains forward-looking statements that relate to the Company’s objectives. Such forward-looking statements are based on the current expectations and assumptions of the Company’s management only and involve risk and uncertainties. Potential risks and uncertainties include, without limitation, whether the Company will be successful in implementing its strategies, whether there will be continued growth in the relevant market and demand for the Company’s products, new products or technological developments introduced by competitors, and risks associated with managing growth. Unfavorable developments in connection with these and other risks and uncertainties described, in particular, in the Company’s prospectus prepared in connection with its IPO and on which the French Autorité des marchés financiers (“AMF”) granted its visa n° 07-023 on January 22, 2007, could cause the Company to fail to achieve the objectives expressed by the forward-looking statements above.
Operating expenditure rose from €7.5 million in H1 2008 to €11 million in H1 2009 (a 45% increase), resulting from the rapid growth of the company and an increase in employees across the businesses. Cellectis had 80 employees at the end of June 2009 - up from 55 as of June 30, 2008 and 35 in early 2007. Operating revenues for the period amounted to €5 million; this figure is down compared to the corresponding period in 2008 (which included a significant payment from Regeneron) but does not include the agreement with Monsanto signed in August. The company's cash reserves grew from €19 million at the end of June 2008 to €27 million at the end of June 2009.
"We are satisfied with these figures, which demonstrate the strength of our business model and are in line with the commitments we made at the time of the company's IPO in early 2007", stated André Choulika, CEO at Cellectis. "We have confirmed our ability to finance our growth according to our business plan and we have substantially exceeded a production capacity of 20 meganucleases a year - a key objective at the time of stock market listing".
"These figures confirm that our operating activity is burning minimal cash and we are well positioned for continued growth", added CFO Marc Le Bozec. "We have a solid medium- and long-term cash position and are on course to achieve our objective of profitability by 2012".
About Cellectis S.A.
Cellectis S.A. is a world leader in genome engineering and genome surgery. The company focuses on developing and producing custom meganucleases for use in vivo genome surgery in the therapeutic, agrifood, biomanufacturing and research sectors. Worldwide, Cellectis has entered into more than 50 agreements with major players in the pharma, biotech and agribiotech industries and has over 20 collaborations with academic research groups. To date, Cellectis has raised over €50 million in both equity operations and public financing and is listed on the NYSE-Euronext Alternext market (ticker code: ALCLS). For more information on Cellectis, visit our website: www.cellectis.com
Disclaimer
This press release contains forward-looking statements that relate to the Company’s objectives. Such forward-looking statements are based on the current expectations and assumptions of the Company’s management only and involve risk and uncertainties. Potential risks and uncertainties include, without limitation, whether the Company will be successful in implementing its strategies, whether there will be continued growth in the relevant market and demand for the Company’s products, new products or technological developments introduced by competitors, and risks associated with managing growth. Unfavorable developments in connection with these and other risks and uncertainties described, in particular, in the Company’s prospectus prepared in connection with its IPO and on which the French Autorité des marchés financiers (“AMF”) granted its visa n° 07-023 on January 22, 2007, could cause the Company to fail to achieve the objectives expressed by the forward-looking statements above.
