Cellectis(CLLS) - 2023 Q2 - Quarterly Report

Financial Performance - For the three-month period ended March 31, 2023, the net loss was $32.5 million, compared to a net loss of$34.8 million for the same period in 2022, representing a 6.5% improvement [9]. - Total comprehensive loss for the three-month period ended March 31, 2023, was $31.4 million, compared to a total comprehensive loss of$37.4 million for the same period in 2022, indicating a 16.5% reduction [9]. - Calyxt incurred a net loss of $5.4 million for the three months ended March 31, 2023, and used$2.0 million of cash for operating activities during the same period [338]. Cash Flow and Liquidity - Net cash flows used in operating activities for the three-month period ended March 31, 2023, were $28.3 million, an improvement from$36.6 million used in the same period in 2022, reflecting a 22.5% decrease in cash outflow [331]. - As of March 31, 2023, Cellectis, excluding Calyxt, had cash and cash equivalents of $83.5 million, sufficient to continue operations for at least twelve months [336]. - Cellectis expects cash flow from operations, government funding, and a €40.0 million finance contract with the European Investment Bank to support operations into the third quarter of 2024 [336]. - Calyxt has received$1.0 million of Interim Funding from Cibus as of March 31, 2023, with an additional $0.5 million received subsequently [340]. Going Concern and Regulatory Approval - Cellectis faces substantial doubt regarding Calyxt's ability to continue as a going concern for a period of 12 months or more from the filing date of its quarterly report [342]. - The company anticipates that it will not generate significant revenues from product sales until regulatory approval is obtained for its therapeutic product candidates [335]. Financial Reporting Adjustments - The company has made adjustments in its financial reporting to reflect discontinued operations, impacting the overall financial results presented [8].