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Cellectis' Operating Revenues Slide 8 Percent in First Half of 2013

NEW YORK (GenomeWeb News) – Genome engineering firm Cellectis on Thursday reported that its total operating revenues slipped 8 percent year over year during the first half of 2013.

For the first six months of the year, the Paris-based firm brought in €6.9 million ($9.4 million) in operating revenues, compared to €7.5 million during the first half of 2012. Operating revenues for the recently completed period comprised €2.8 million in sales, down from €3.1 million a year ago, and €4.1 million in other operating revenues, down from €4.4 million a year ago.

Cellectis' net loss for H1 2013 widened 55 percent to €17.8 million from €11.5 million in H1 2012. Adjusting for foreign currency translation, Cellectis' comprehensive loss increased to €18.5 million in the first six months of the year, compared to €11.1 million a year ago.

The company said that R&D costs for the period rose 5 percent to €11.1 million from €10.6 million a year ago, while its SG&A costs were up 56 percent to €12.5 million from €8.0 million.

Cellectis had €9.5 million in cash and cash equivalents as of June 30.

The firm said that it anticipates a reduction in its cash burn rate — which it said was high for the first half of the year — by the end of the 2013. Cellectis added that in order to "ensure adequate financing" to fulfill its needs in the coming months, it is considering selling some patents that are not strategic to the firm, as well as other assets. It also is considering a capital raise "via the contingent equity line with Kepler Capital Markets," a financial services firm.

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