10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

(Amendment No. 1)

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2019;

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                     to

Commission file number 001-38161

Calyxt, Inc.

(Exact name of registrant as specified in its charter)

Delaware	27-1967997
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)
2800 Mount Ridge Road
Roseville, MN	55113-1127
(Address of principal executive offices)	(Zip Code)

(651) 683-2807

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock (0.0001 par value)	CLXT	The NASDAQ Global Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	☐	Accelerated filer	☑
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☑ No

As of August 6, 2019, there were 32,866,100 shares of common stock, $0.0001 par value per share, outstanding.

EXPLANATORY NOTE

Calyxt, Inc. (the “Company”) is filing this Amendment No. 1 (this “Amendment No. 1”) to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, which was originally filed on August 7, 2019 (the “Original Filing”) for the sole purpose of furnishing Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.  Exhibit 101 to this Amendment No. 1 provides the XBRL (eXtensible Business Reporting Language) data associated with the Original Filing.

Other than the addition of Exhibit 101, no other changes have been made to the Original Filing.

This Amendment No. 1 does not reflect events that may have occurred subsequent to the filing date of the Original Filing and does not modify or update in any way disclosures made in the Original Filing.

Item 6. Exhibits

(a) Index of Exhibits

Exhibit Number	Description
3.1	Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q filed on September 1, 2017)
3.2	Amended and Restated Bylaws (incorporated by reference to Exhibit 3.2 of the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 7, 2018)
10.1	Form of Performance Stock Unit Award Agreement†
31.1*	Certification of the Chief Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) of the Exchange Act
31.2*	Certification of the Chief Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) of the Exchange Act
32*	Certification of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

*Filed herewith

†Indicates management contract or compensatory plan

2

SIGNATURE

Pursuant to the requirements of the Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on August 7, 2019.

CALYXT, INC.
By:	/s/ James A. Blome
Name:	James A. Blome
Title:	Chief Executive Officer (Principal Executive Officer)
By:	/s/ William F. Koschak
Name:	William F. Koschak
Title:	Chief Financial Officer (Principal Financial and Accounting Officer)

3

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO RULES 13a-l4(a) AND l5d-l4(a)

UNDER THE SECURITIES EXCHANGE ACT, AS AMENDED

I, James A. Blome, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q/A of Calyxt, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and I 5d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 7, 2019

/s/ James A. Blome

James A. Blome

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO RULES 13a-14(a) AND 15d-14(a)

UNDER THE SECURITIES EXCHANGE ACT, AS AMENDED

I, William F. Koschak, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q/A of Calyxt, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(t) and 15d-15(t)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 7, 2019

/s/ William F. Koschak

William F. Koschak

Chief Financial Officer

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Calyxt, Inc. (the “Company”) on Form 10-Q/A for the period ended June 30, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to his knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 7, 2019

/s/ James A. Blome

James A. Blome

Chief Executive Officer

/s/ William F. Koschak

William F. Koschak

Chief Financial Officer

XML

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 06, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	CLXT
Entity Registrant Name	CALYXT, INC.
Entity Central Index Key	0001705843
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		32,866,100
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-38161
Entity Tax Identification Number	271967997
Entity Address, Address Line One	2800 Mount Ridge Road
Entity Address, City or Town	Roseville
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55113
City Area Code	651
Local Phone Number	683-2807

XML

BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 76,434	$ 93,794
Restricted cash	381	381
Trade accounts receivable	810
Due from related parties	78	46
Inventory	111
Prepaid expenses and other current assets	1,470	1,301
Total current assets	79,284	95,522
Non-current restricted cash	1,128	1,113
Land, buildings, and equipment	22,480	21,850
Other non-current assets	684	306
Total assets	103,576	118,791
Current liabilities:
Accounts payable	395	818
Accrued expenses	1,993	2,007
Accrued compensation and benefits	1,238	1,305
Due to related parties	781	1,905
Current portion of financing lease obligations	308	258
Other current liabilities	253	711
Total current liabilities	4,968	7,004
Financing lease obligations	18,259	18,227
Other non-current liabilities	159	163
Total liabilities	23,386	25,394
Stockholders’ equity:
Common stock, $0.0001 par value; 275,000,000 shares authorized; 32,918,599 shares issued and 32,859,700 shares outstanding as of June 30, 2019, and 32,664,429 shares issued and 32,648,893 shares outstanding as of December 31, 2018	3	3
Additional paid-in capital	180,237	176,069
Common stock in treasury, at cost; 58,899 shares	(789)	(230)
Accumulated deficit	(99,223)	(82,445)
Accumulated other comprehensive loss	(38)
Total stockholders’ equity	80,190	93,397
Total liabilities and stockholders’ equity	$ 103,576	$ 118,791

XML

BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	275,000,000	275,000,000
Common stock, shares issued	32,918,599	32,664,429
Common stock, shares outstanding	32,859,700	32,648,893
Treasury stock, shares	58,899	58,899

XML

STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 408	$ 196	$ 566	$ 207
Operating expenses:
Cost of revenue	303		337
Research and development	2,738	3,241	4,957	4,410
Selling and general and administrative	6,408	4,048	11,475	6,603
Management fees and royalties	451	399	812	982
Total operating expenses	9,900	7,688	17,581	11,995
Loss from operations	(9,492)	(7,492)	(17,015)	(11,788)
Interest, net	92	(72)	264	(140)
Foreign currency transaction loss	(3)	(12)	(27)	(18)
Loss before income taxes	(9,403)	(7,576)	(16,778)	(11,946)
Income taxes	0	0	0	0
Net loss	$ (9,403)	$ (7,576)	$ (16,778)	$ (11,946)
Basic and diluted loss per share	$ (0.29)	$ (0.25)	$ (0.51)	$ (0.41)
Weighted average shares outstanding - basic and diluted	32,732,988	29,840,827	32,704,834	28,851,491

XML

STATEMENTS OF STOCKHOLDER'S EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Shares in Treasury [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning balance at Dec. 31, 2017	$ 57,476	$ 3	$ 112,021		$ (54,548)
Beginning balance, shares at Dec. 31, 2017		27,718,780
Net loss	(11,946)				(11,946)
Stock based compensation	3,668		3,668
Stock based compensation, shares		559,826
Issuance of common stock	57,041		57,041
Issuance of common stock, shares		4,057,500
Ending balance at Jun. 30, 2018	106,239	$ 3	172,730		(66,494)
Ending balance, shares at Jun. 30, 2018		32,336,106
Beginning balance at Mar. 31, 2018	53,860	$ 3	112,775		(58,918)
Beginning balance, shares at Mar. 31, 2018		27,954,781
Net loss	(7,576)				(7,576)
Stock based compensation	3,668		3,668
Stock based compensation, shares		559,826
Issuance of common stock	56,287		56,287
Issuance of common stock, shares		3,821,499
Ending balance at Jun. 30, 2018	106,239	$ 3	172,730		(66,494)
Ending balance, shares at Jun. 30, 2018		32,336,106
Beginning balance at Dec. 31, 2018	93,397	$ 3	176,069	$ (230)	(82,445)
Beginning balance, shares at Dec. 31, 2018		32,648,893
Net loss	(16,778)				(16,778)
Stock based compensation	3,860		3,860
Stock based compensation, shares		254,170
Issuance of common stock	308		308
Shares withheld for net share settlement	(559)			(559)
Shares withheld for net share settlement, shares		(43,363)
Other comprehensive loss	(38)					$ (38)
Ending balance at Jun. 30, 2019	80,190	$ 3	180,237	(789)	(99,223)	(38)
Ending balance, shares at Jun. 30, 2019		32,859,700
Beginning balance at Mar. 31, 2019	87,703	$ 3	177,750	(230)	(89,820)
Beginning balance, shares at Mar. 31, 2019		32,692,189
Net loss	(9,403)				(9,403)
Stock based compensation	2,304		2,304
Stock based compensation, shares		210,874
Issuance of common stock	183		183
Shares withheld for net share settlement	(559)			(559)
Shares withheld for net share settlement, shares		(43,363)
Other comprehensive loss	(38)					(38)
Ending balance at Jun. 30, 2019	$ 80,190	$ 3	$ 180,237	$ (789)	$ (99,223)	$ (38)
Ending balance, shares at Jun. 30, 2019		32,859,700

XML

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net loss	$ (16,778)	$ (11,946)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	689	371
Stock-based compensation	3,860	2,427
Unrealized foreign exchange gain		6
Changes in operating assets and liabilities:
Trade accounts receivable	(810)
Due to/from related parties	(1,156)	47
Inventory	(111)
Prepaid expenses and other assets	(169)	(799)
Accounts payable	(423)	25
Accrued expenses	(14)	275
Accrued compensation and benefits	(67)	(318)
Other accrued liabilities	(513)	1,084
Other non-current assets	(378)
Net cash used by operating activities	(15,870)	(8,828)
Investing activities
Purchases of land, buildings and equipment	(1,319)	(498)
Net cash used by investing activities	(1,319)	(498)
Financing activities
Costs incurred related to the issuance of stock		(665)
Proceeds from issuance of common stock		57,706
Repayments of financing lease obligations	(122)
Proceeds from the exercise of stock options	308	1,241
Costs incurred related to shares withheld for net share settlement	(559)
Proceeds from the sale and leaseback of land, buildings, and equipment	217
Net cash (used) provided by financing activities	(156)	58,282
Net (decrease) increase in cash, cash equivalents and restricted cash	(17,345)	48,956
Cash, cash equivalents and restricted cash - beginning of period	95,288	56,664
Cash, cash equivalents and restricted cash - end of period	$ 77,943	$ 105,620

XML

Basis of Presentation & Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation & Summary of Significant Accounting Policies

1. BASIS OF PRESENTATION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Our unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (SEC) applicable to interim financial statements. In our opinion, the accompanying financial statements reflect all adjustments necessary for a fair presentation of our statements of financial position, results of operations and cash flows for the periods presented but they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Except as otherwise disclosed herein, these adjustments consist of normal recurring items. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole or any other interim period.

The preparation of the financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates.

Certain prior year amounts have been reclassified to conform to the current year presentation.

For further information, refer to the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on March 12, 2019. The accompanying Balance Sheet as of December 31, 2018 was derived from the audited financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with our financial statements and notes included in the Annual Report on Form 10-K for the year ended December 31, 2018.

Inventory

Inventories are recorded at the lower of cost or net realizable value and include all costs of seed production and grain we purchase as well as costs to transport and process the grain into finished products. Consideration we receive from our growers to purchase seed is recorded as reduction in the cost of inventory.

We evaluate inventory balances for obsolescence quarterly using projected selling prices for our products, market prices for the underlying agricultural markets, the age of products, and other factors that take into consideration our limited operating history.

Effective January 1, 2019, we designated all seed and grain production agreements (Forward Purchase Contracts) as normal purchases and as a result no longer consider these agreements to be accounting derivatives. As a result, we no longer reflect these agreements at fair value. As of that date, any mark-to-market gains or losses were frozen on our balance sheet and will be reflected in inventory upon delivery as part of the cost of the associated grain.

Prior to the commercialization of our High Oleic Soybean Products in late February 2019, we expensed all costs associated with the production of seed and acquisition of grain, net of proceeds from seed sales, as research and development (R&D) expense.

Revenue Recognition

We recognize sales revenue at the point in time that control transfers to the customer, which is based on shipping terms. Sales include shipping and handling charges if billed to the customer and are reported net of trade promotion and other costs, including estimated allowances for returns, unsalable product, and prompt pay discounts. Sales, use, value-added and other excise taxes are not recognized in revenue. Trade promotions are recorded based on estimated participation and performance levels for offered programs at the time of sale. We generally do not allow a right of return. However, on a limited basis with prior approval, we may allow customers to return product.

We also recognize revenue from license agreements. Revenues from license agreements may consist of nonrefundable up-front payments, milestone payments, royalties, and services. In addition, we may license our technology to third parties, which may or may not be part of a license agreement.

Nonrefundable up-front payments are deferred and recognized as revenue over the term of the license agreement. If a license agreement is terminated before the original term of the agreement is fulfilled, all remaining deferred revenue is recognized at termination.

Milestone payments represent amounts received from our licensees, the receipt of which is dependent upon the achievement of certain scientific, regulatory, or commercial milestones. We recognize milestone payments when the triggering event has occurred, there are no further contingencies or services to be provided with respect to that event, and the counterparty has no right to refund of the payment.

Stock-Based Compensation

We measure employee stock-based awards at grant-date fair value and record compensation expense over the vesting period of the award. Prior to January 1, 2019, grants to nonemployees were previously remeasured each reporting period. Following the adoption of the new accounting pronouncement discussed below we no longer remeasure these awards as the fair value is determined on the grant date.

Recently Adopted Accounting Pronouncements

In the first quarter of 2019, we adopted new accounting requirements for recognition of revenue from contracts with customers. We adopted these requirements using the cumulative effect approach. The adoption did not have an impact on our financial statements.

Effective January 1, 2019, we adopted new accounting requirements for share-based payment transactions for acquiring goods and services from nonemployees. The adoption did not have an impact on our financial statements as each of the share-based payment awards granted to nonemployees had a measurement date upon grant, and thus no cumulative adjustment to retained earnings was required.

XML

Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk

6 Months Ended

Jun. 30, 2019

Text Block [Abstract]

Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk

2. FINANCIAL INSTRUMENTS, FAIR VALUE, HEDGING ACTIVITIES, AND CONCENTRATIONS OF CREDIT RISK

The carrying values of cash and cash equivalents, restricted cash, due from related parties, accounts payable, due to related parties, and all other current liabilities approximate fair value. The fair value of our financing lease obligations, including the current portion, are $15.7 million as of June 30, 2019, and $15.8 million as of December 31, 2018. The carrying amounts of our financing lease obligations, including the current portion, were $18.6 million as of June 30, 2019, and $18.5 million as of December 31, 2018. The fair value of our financing lease obligations was determined using discounted cash flow analysis based on market rates for similar types of borrowings. Financing lease obligations are a Level 2 liability in the fair value hierarchy.

Fair Value Measurements and Financial Statement Presentation

As described in Note 1 to these financial statements our Forward Purchase Contracts are no longer carried at fair value.

The fair values of our assets, liabilities, and derivative positions recorded at fair value and their respective levels in the fair value hierarchy as of June 30, 2019 and December 31, 2018, were as follows:

	June 30, 2019								June 30, 2019
	Fair Values of Assets								Fair Values of Liabilities
In Thousands	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Other items reported at fair value:
Forward Purchase Contracts (a)	$	—	$	1	$	—	$	1	$	—	$	203	$	—	$	203
Commodity futures and options		174		—		—		174		—		—		—		—
Total	$	174	$	1	$	—	$	175	$	—	$	203	$	—	$	203

	December 31, 2018								December 31, 2018
	Fair Values of Assets								Fair Values of Liabilities
In Thousands	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Other items reported at fair value:
Forward Purchase Contracts (a)	$	—	$	1	$	—	$	1	$	—	$	248	$	—	$	248
Commodity futures and options		—		—		—		—		—		—		—		—
Total	$	—	$	1	$	—	$	1	$	—	$	248	$	—	$	248

(a) The fair value for Forward Purchase Contracts were previously estimated based on commodity futures market prices.

Commodity Price Risk

We enter into Forward Purchase Contracts for grain with settlement values based on commodity futures market prices These Forward Purchase Contracts allow our counterparty to fix their sale prices to us at various times as defined in the contract. We may enter into hedging arrangements to either fix variable exposures or converting fixed prices to floating prices through the use of commodity derivative contracts. At June 30, 2019, we had entered into commodity contracts with a notional amount of $1.8 million.

We have designated all of our commodity derivative contracts as cash flow hedges. As a result, all gains or losses associated with recording commodity derivative contracts at fair value are recorded as a component of accumulated other comprehensive income (AOCI). We reclassify amounts from AOCI to cost of goods sold when we sell the underlying products to which those hedges relate. As of June 30, 2019, we expect the entire AOCI balance to be reclassified into earnings within the next 12 months.  

Certain amounts related to our hedging activities are as follows:

	Amount of Gain (Loss) Recognized in AOCI					Amount of Gain (Loss) Reclassified to Earnings
	Six months ended,					Six months ended,
	June 30,			December 31,		June 30,		December 31,
In thousands	2019			2018		2019		2018
Cash flow hedges:
Commodity contracts	$	(38	)	$	—	$	—	$	—
Total	$	(38	)	$	—	$	—	$	—

Foreign Exchange Risk

Foreign currency fluctuations affect our foreign currency cash flows related to payments to Cellectis and third-party purchases. Our principal foreign currency exposure is to the euro. We do not currently hedge these exposures, and we do not believe that the current level of foreign currency risk is significant to our operations.

Concentrations of Credit Risk

We invest our cash, cash equivalents, and restricted cash in short-term investments and hold deposits at financial institutions that may exceed insured limits. We evaluate the credit worthiness of these institutions in determining the risk associated with these deposits. We have not experienced any losses on these deposits.

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Related-Party Transactions

6 Months Ended

Jun. 30, 2019

Related Party Transactions [Abstract]

Related-Party Transactions

3. RELATED-PARTY TRANSACTIONS

We have several agreements that govern our relationship with Cellectis. Pursuant to our management services agreement with Cellectis, we also pay management fees for services Cellectis provides to us. We perform Cellectis’ U.S. operations payroll services. We incurred management fee expenses of $0.5 million for the three months ended June 30, 2019 and $0.4 million for the same period in 2018. We incurred management fee expenses of $0.8million for the six months ended June 30, 2019 and $1.0 for the same period in 2018.

Cellectis also has guaranteed our headquarters lease agreement. Cellectis’ guarantee of our obligations under the sale-leaseback transaction will terminate at the end of the second consecutive calendar year in which our tangible net worth exceeds $300 million. Any amounts borrowed from Cellectis bear floating-rate interest at a rate of 12-month Euribor plus five percent per annum.

TALEN technology was invented by researchers at the University of Minnesota and Iowa State University and exclusively licensed to Cellectis. We obtained from Cellectis an exclusive license for the TALEN technology for commercial use in plants. TALEN technology is the primary gene-editing technology used by us today. We also license other key technology from Cellectis and owe them royalties on any revenue we generate from sales of product as well as a percentage of any sublicense revenues we generate. With the exception of a one-time payment made to the University of Minnesota related to our commercialization of High Oleic Soybeans, we have incurred nominal license fees under these agreements in in the three and six month periods ended June 30, 2019 and 2018.

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Net Loss Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Net Loss Per Share

4. NET LOSS PER SHARE

Basic and diluted loss per share were calculated using the following:

All outstanding stock options and restricted stock units are excluded from the calculation since they are anti-dilutive.

	Six months ended June 30,
In Thousands, Except Share Data and Per Share Amounts	2019			2018
Net loss	$	(16,778	)	$	(11,946	)
Average number of common shares—basic and diluted EPS		32,704,834			28,851,491
Loss per share—basic and diluted	$	(0.51	)	$	(0.41	)

	2019	2018
Anti-dilutive stock options and restricted stock units	5,592,441	4,421,547

We have not used the treasury method in determining the number of anti-dilutive stock options and restricted stock units in the table above.

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

5.STOCK-BASED COMPENSATION

We use broad-based stock plans to attract and retain highly qualified officers and employees and to help ensure that management’s interests are aligned with those of our shareholders. We have also granted equity-based awards to directors, nonemployees and certain employees of Cellectis.

In December 2014, we adopted the Calyxt, Inc. Equity Incentive Plan (2014 Plan), which allowed for the grant of stock options, and in June 2017, we adopted the 2017 Omnibus Plan (2017 Plan).

As of June 30, 2019, 2,006,505 shares were registered and available for grant under effective registration statements, while 2,444,581 shares were available for grant in the form of stock options, restricted stock, restricted stock units and performance stock units under the 2017 Plan. Stock-based awards currently outstanding also include awards granted under the 2014 Plan, under which no further awards will be granted.

Stock Options

The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:

	Six months ended June 30,
	2019		2018
Estimated fair values of stock options granted	$	10.61	$	10.26
Assumptions:
Risk-free interest rate	1.9% - 2.5%		2.5% - 2.8%
Expected volatility	77.9% - 78.9%		40.9% - 54.7%
Expected term (in years)	6.8 – 10.0 years		6.3 – 9.2 years

We estimate the fair value of each option on the grant date or other measurement date if applicable using a Black-Scholes option-pricing model, which requires us to make predictive assumptions regarding future stock price volatility, employee exercise behavior and dividend yield. The risk-free interest rate for periods during the expected term of the options is based on the U.S. Treasury zero-coupon yield curve in effect at the time of grant. We estimate our future stock price volatility using the historical volatility of comparable public companies over the expected term of the option. Our expected term represents the period of time that options granted are expected to be outstanding determined using the simplified method. We have not nor do we expect to pay dividends for the foreseeable future.

Option strike prices are set at 100 percent or more of the closing share price on the date of grant, and generally vest over six years following the grant date. Options generally expire 10 years after the date of grant.

Information on stock option activity follows:

	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share
Balance as of December 31, 2018		1,278,038	$	7.45		3,201,887		$	10.67
Granted						1,490,000			14.75
Exercised						(85,452	)		3.61
Forfeited or expired						(12,085	)		17.72
Other activity						12,495			13.29
Balance as of June 30, 2019		1,585,276	$	8.34		4,606,845		$	12.11

Stock-based compensation expense related to stock option awards was $1.5 million for the three months ended June 30, 2019 and $1.4 million for the three months ended June 30, 2018. Stock-based compensation expense related to stock option awards was $2.3 million for the six months ended June 30, 2019, and $1.0 million for the six months ended June 30, 2018. The aggregate intrinsic value of options outstanding and exercisable at June 30, 2019 was $9.3 million and the weighted average remaining contractual term was 8.4 years as of that date.

Net cash proceeds from the exercise of stock options less shares used for minimum withholding taxes and the intrinsic value of options exercised were as follows:

	Three months ended June 30,				Six months ended June 30,
In Thousands	2019		2018		2019		2018
Net cash proceeds	$	183	$	527	$	308	$	1,241
Intrinsic value of options exercised	$	527	$	1,899	$	880	$	5,159

Restricted Stock Units

Units settled in stock subject to a restricted period may be granted under the 2017 Plan. Restricted stock units generally vest and become unrestricted over five years after the date of grant.

Information on restricted stock unit activity follows:

	Number of Restricted Stock Units Outstanding			Weighted- Average Grant Date Fair Value
Unvested balance at December 31, 2018		1,051,414		$	10.15
Granted		100,000			12.48
Vested		(168,718	)		8.36
Forfeited		(2,000	)		8.00
Unvested balance at June 30, 2019		980,696		$	10.62

The total grant-date fair value of restricted stock unit awards that vested was $1.3 million and $1.4 million for the three and six months ended June 30, 2019, and $1.5 million for three and six months ended June 30, 2018. Stock-based compensation expense related to restricted stock unit awards was $0.8 million and $1.6 million for the three and six months ended June 30, 2019, and $0.9 million and $1.2 million for the three and six months ended June 30, 2018

We treat stock-based compensation awards granted to employees of Cellectis as deemed dividends. We recorded deemed dividends of $0.4 million and $0.8 million for the three and six months ended June 30, 2019, and $0.7 million and $1.4 million for the three and six months ended June 30, 2018.

As of June 30, 2019, unrecognized compensation expense related to non-vested stock options and restricted stock units was $22.4 million. This expense will be recognized over 61 months on average for stock options and over 42 months on average for restricted stock units.

Performance Stock Units

On June 28, 2019, we granted 311,667 performance stock units to three executive officers. The performance stock units will vest as to 50%, 100% or 120% of the shares at the end of a three-year performance period based upon the increases in our common stock from the starting price of $12.48. The awards vest on a linear basis between vesting percentages during specified periods within the three-year performance period. If vested, the performance stock units will be settled in restricted stock with restrictions lapsing on the two-year anniversary of the date of issuance.

Cellectis Equity Incentive Plan

Prior to 2018, Cellectis granted stock options to our employees. Compensation costs related to these grants have been recognized in the statements of operations with a corresponding credit to stockholders’ equity representing Cellectis’ capital contribution to us. The fair value of each stock option was estimated at the grant date using the Black-Scholes option pricing model.

We recognized stock-based compensation expense related to Cellectis’ grants of $0.1 million for the three months ended June 30, 2018 and $0.2 million for the six months ended June 30, 2018. Expenses in 2019 were de minimus.

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Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

6. INCOME TAXES

We provide for a valuation allowance when it is more likely than not that we will not realize a portion of the deferred tax assets. We have established a full valuation allowance for deferred tax assets due to the uncertainty that enough taxable income will be generated in the taxing jurisdiction to utilize the assets. Therefore, we have not reflected any benefit of such deferred tax assets in the accompanying financial statements.

As of June 30, 2019 there were no material changes to what we disclosed regarding tax uncertainties or penalties as of December 31, 2018.

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Leases, Other Commitments, and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Leases, Other Commitments, and Contingencies

7. LEASES, OTHER COMMITMENTS, AND CONTINGENCIES

Litigation and Claims

We are not currently a party to any material pending legal proceeding.

Leases

We lease our headquarters facility, office equipment, and other items. Our headquarters lease involved the sale of land and improvements to a third party who then constructed the facility. This lease is considered a finance lease.

We also have an equipment financing line that is considered a financing lease. The lease has a term of four years and following our $0.2 million draw down in the three month period ending June 30, 2019, we may add up to $0.9 million of future equipment purchases to the financing agreement. We were required to deposit cash into a restricted account in an amount equal to the future rent payments required by the lease. At June 30, 2019, this restricted cash totaled $1.5 million.

Rent expense from operating leases was $20,000 for the three months ended June 30, 2019, and was $78,000 for the three months ended June 30, 2018. Rent expense was expense $69,000 for the six months ended June 30, 2019, and was $160,000 during the six months ended June 30, 2018.

Other Commitments

As of June 30, 2019, we have committed to purchase grain from farmers at dates throughout 2019 and 2020 aggregating $19.0 million using commodity futures market prices, other payments to growers and estimated yields per acre. This amount is not recorded in the financial statements because we have not taken delivery of the grain as of that date.

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Employee Benefit Plan

6 Months Ended

Jun. 30, 2019

Postemployment Benefits [Abstract]

Employee Benefit Plan

8. EMPLOYEE BENEFIT PLAN

We provide a 401(k) defined contribution plan for all regular full-time employees who have completed three months of service. We match employee contributions up to certain amounts and those matching contributions vest immediately. Our expense was $49,000 for the three months ended June 30, 2019 and $27,000 for the same period in 2018. Our expense was $105,000 for the six months ended June 30, 2019,and $76,000 for the six months ended June 30, 2018.

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Supplemental Information

6 Months Ended

Jun. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Supplemental Information

9. SUPPLEMENTAL INFORMATION

Certain balance sheet amounts are as follows:

	As of June 30,		As of December 31,
In Thousands	2019		2018
Raw materials	$	79	$	—
Work-in-process		18		—
Finished goods		14		—
Total	$	111	$	—

Certain statements of operations amounts are as follows:

	Three months ended June 30,				Six months ended June 30,
In Thousands	2019		2018		2019		2018
Stock compensation expense:
Research and development	$	539	$	1,325	$	779	$	888
Selling and general and administrative		1,765		967		3,081		1,336
Total	$	2,304	$	2,292	$	3,860	$	2,224

	Three months ended June 30,						Six months ended June 30,
In Thousands	2019			2018			2019			2018
Interest expense	$	(370	)	$	(317	)	$	(740	)	$	(552	)
Interest income		462			245			1,004			412
Interest, net	$	92		$	(72	)	$	264		$	(140	)

Certain statements of cash flows amounts are as follows:

	As of June 30,
In Thousands	2019		2018
Cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	76,434	$	105,620
Restricted cash, current		381		—
Non-current restricted cash		1,128		—
Total	$	77,943	$	105,620

	As of June 30,
In Thousands	2019		2018
Supplemental cash flow information
Interest paid	$	737	$	207
	As of June 30,
In Thousands	2019		2018
Supplemental non-cash investing and financing transactions
Sale and leaseback of land, buildings, and equipment	$	217	$	—
Non-cash additions to land, buildings, and equipment		—		7,096
Offering costs in accounts payable and accrued liabilities		—		445
Non-cash addition to financing lease obligations		12		—
Total	$	229	$	7,541

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Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

10. Segment Information

We operate in a single reportable segment, food ingredients. Our current commercial focus is North America. Our major product categories are High Oleic Soybean Oil and High Oleic Soybean Meal.

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Basis of Presentation & Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Inventory

Inventory

Inventories are recorded at the lower of cost or net realizable value and include all costs of seed production and grain we purchase as well as costs to transport and process the grain into finished products. Consideration we receive from our growers to purchase seed is recorded as reduction in the cost of inventory.

We evaluate inventory balances for obsolescence quarterly using projected selling prices for our products, market prices for the underlying agricultural markets, the age of products, and other factors that take into consideration our limited operating history.

Effective January 1, 2019, we designated all seed and grain production agreements (Forward Purchase Contracts) as normal purchases and as a result no longer consider these agreements to be accounting derivatives. As a result, we no longer reflect these agreements at fair value. As of that date, any mark-to-market gains or losses were frozen on our balance sheet and will be reflected in inventory upon delivery as part of the cost of the associated grain.

Prior to the commercialization of our High Oleic Soybean Products in late February 2019, we expensed all costs associated with the production of seed and acquisition of grain, net of proceeds from seed sales, as research and development (R&D) expense.

Revenue Recognition

Revenue Recognition

We recognize sales revenue at the point in time that control transfers to the customer, which is based on shipping terms. Sales include shipping and handling charges if billed to the customer and are reported net of trade promotion and other costs, including estimated allowances for returns, unsalable product, and prompt pay discounts. Sales, use, value-added and other excise taxes are not recognized in revenue. Trade promotions are recorded based on estimated participation and performance levels for offered programs at the time of sale. We generally do not allow a right of return. However, on a limited basis with prior approval, we may allow customers to return product.

We also recognize revenue from license agreements. Revenues from license agreements may consist of nonrefundable up-front payments, milestone payments, royalties, and services. In addition, we may license our technology to third parties, which may or may not be part of a license agreement.

Nonrefundable up-front payments are deferred and recognized as revenue over the term of the license agreement. If a license agreement is terminated before the original term of the agreement is fulfilled, all remaining deferred revenue is recognized at termination.

Milestone payments represent amounts received from our licensees, the receipt of which is dependent upon the achievement of certain scientific, regulatory, or commercial milestones. We recognize milestone payments when the triggering event has occurred, there are no further contingencies or services to be provided with respect to that event, and the counterparty has no right to refund of the payment.

Stock Based Compensation

Stock-Based Compensation

We measure employee stock-based awards at grant-date fair value and record compensation expense over the vesting period of the award. Prior to January 1, 2019, grants to nonemployees were previously remeasured each reporting period. Following the adoption of the new accounting pronouncement discussed below we no longer remeasure these awards as the fair value is determined on the grant date.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In the first quarter of 2019, we adopted new accounting requirements for recognition of revenue from contracts with customers. We adopted these requirements using the cumulative effect approach. The adoption did not have an impact on our financial statements.

Effective January 1, 2019, we adopted new accounting requirements for share-based payment transactions for acquiring goods and services from nonemployees. The adoption did not have an impact on our financial statements as each of the share-based payment awards granted to nonemployees had a measurement date upon grant, and thus no cumulative adjustment to retained earnings was required.

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Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk (Tables)

6 Months Ended

Jun. 30, 2019

Text Block [Abstract]

Summary of Fair Value Measurements and Financial Statement Presentation

The fair values of our assets, liabilities, and derivative positions recorded at fair value and their respective levels in the fair value hierarchy as of June 30, 2019 and December 31, 2018, were as follows:

	June 30, 2019								June 30, 2019
	Fair Values of Assets								Fair Values of Liabilities
In Thousands	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Other items reported at fair value:
Forward Purchase Contracts (a)	$	—	$	1	$	—	$	1	$	—	$	203	$	—	$	203
Commodity futures and options		174		—		—		174		—		—		—		—
Total	$	174	$	1	$	—	$	175	$	—	$	203	$	—	$	203

	December 31, 2018								December 31, 2018
	Fair Values of Assets								Fair Values of Liabilities
In Thousands	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Other items reported at fair value:
Forward Purchase Contracts (a)	$	—	$	1	$	—	$	1	$	—	$	248	$	—	$	248
Commodity futures and options		—		—		—		—		—		—		—		—
Total	$	—	$	1	$	—	$	1	$	—	$	248	$	—	$	248

(a) The fair value for Forward Purchase Contracts were previously estimated based on commodity futures market prices.

Summary of Certain Amounts Related to Hedging Activities

Certain amounts related to our hedging activities are as follows:

	Amount of Gain (Loss) Recognized in AOCI					Amount of Gain (Loss) Reclassified to Earnings
	Six months ended,					Six months ended,
	June 30,			December 31,		June 30,		December 31,
In thousands	2019			2018		2019		2018
Cash flow hedges:
Commodity contracts	$	(38	)	$	—	$	—	$	—
Total	$	(38	)	$	—	$	—	$	—

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Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted loss per share were calculated using the following:

All outstanding stock options and restricted stock units are excluded from the calculation since they are anti-dilutive.

	Six months ended June 30,
In Thousands, Except Share Data and Per Share Amounts	2019			2018
Net loss	$	(16,778	)	$	(11,946	)
Average number of common shares—basic and diluted EPS		32,704,834			28,851,491
Loss per share—basic and diluted	$	(0.51	)	$	(0.41	)

	2019	2018
Anti-dilutive stock options and restricted stock units	5,592,441	4,421,547

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Fair Values of Stock Options Granted and Assumptions used in Black-Scholes Model

The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:

	Six months ended June 30,
	2019		2018
Estimated fair values of stock options granted	$	10.61	$	10.26
Assumptions:
Risk-free interest rate	1.9% - 2.5%		2.5% - 2.8%
Expected volatility	77.9% - 78.9%		40.9% - 54.7%
Expected term (in years)	6.8 – 10.0 years		6.3 – 9.2 years

Summary of Stock Option Activity

Information on stock option activity follows:

	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share
Balance as of December 31, 2018		1,278,038	$	7.45		3,201,887		$	10.67
Granted						1,490,000			14.75
Exercised						(85,452	)		3.61
Forfeited or expired						(12,085	)		17.72
Other activity						12,495			13.29
Balance as of June 30, 2019		1,585,276	$	8.34		4,606,845		$	12.11

Schedule of Net Cash Proceeds from Exercise of Stock Options Less Shares Used for Minimum Withholding Taxes and Intrinsic Value of Options Exercised

Net cash proceeds from the exercise of stock options less shares used for minimum withholding taxes and the intrinsic value of options exercised were as follows:

	Three months ended June 30,				Six months ended June 30,
In Thousands	2019		2018		2019		2018
Net cash proceeds	$	183	$	527	$	308	$	1,241
Intrinsic value of options exercised	$	527	$	1,899	$	880	$	5,159

Summary of Activity of Restricted Stock Units

Information on restricted stock unit activity follows:

	Number of Restricted Stock Units Outstanding			Weighted- Average Grant Date Fair Value
Unvested balance at December 31, 2018		1,051,414		$	10.15
Granted		100,000			12.48
Vested		(168,718	)		8.36
Forfeited		(2,000	)		8.00
Unvested balance at June 30, 2019		980,696		$	10.62

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Supplemental Information (Tables)

6 Months Ended

Jun. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Certain Balance Sheet Amounts

Certain balance sheet amounts are as follows:

	As of June 30,		As of December 31,
In Thousands	2019		2018
Raw materials	$	79	$	—
Work-in-process		18		—
Finished goods		14		—
Total	$	111	$	—

Schedule of Certain Statements of Operations Amounts

Certain statements of operations amounts are as follows:

	Three months ended June 30,				Six months ended June 30,
In Thousands	2019		2018		2019		2018
Stock compensation expense:
Research and development	$	539	$	1,325	$	779	$	888
Selling and general and administrative		1,765		967		3,081		1,336
Total	$	2,304	$	2,292	$	3,860	$	2,224

	Three months ended June 30,						Six months ended June 30,
In Thousands	2019			2018			2019			2018
Interest expense	$	(370	)	$	(317	)	$	(740	)	$	(552	)
Interest income		462			245			1,004			412
Interest, net	$	92		$	(72	)	$	264		$	(140	)

Schedule of Statements of Certain Statements of Cash Flows Amounts

Certain statements of cash flows amounts are as follows:

	As of June 30,
In Thousands	2019		2018
Cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	76,434	$	105,620
Restricted cash, current		381		—
Non-current restricted cash		1,128		—
Total	$	77,943	$	105,620

	As of June 30,
In Thousands	2019		2018
Supplemental cash flow information
Interest paid	$	737	$	207
	As of June 30,
In Thousands	2019		2018
Supplemental non-cash investing and financing transactions
Sale and leaseback of land, buildings, and equipment	$	217	$	—
Non-cash additions to land, buildings, and equipment		—		7,096
Offering costs in accounts payable and accrued liabilities		—		445
Non-cash addition to financing lease obligations		12		—
Total	$	229	$	7,541

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Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair value of financing leases	$ 15.7	$ 15.8
Financing lease obligations	18.6	$ 18.5
Commodity Contracts [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Commodity derivative assets, notional amount	$ 1.8

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Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk - Summary of Fair Value Measurements and Financial Statement Presentation (Detail) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets		$ 175	$ 1
Fair Values of Liabilities		203	248
Forward Purchase Contracts [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	[1]	1	1
Fair Values of Liabilities	[1]	203	248
Commodity Futures and Options [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets		174
Level 1 [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets		174
Level 1 [Member] | Commodity Futures and Options [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets		174
Level 2 [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets		1	1
Fair Values of Liabilities		203	248
Level 2 [Member] | Forward Purchase Contracts [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	[1]	1	1
Fair Values of Liabilities	[1]	$ 203	$ 248

[1] The fair value for Forward Purchase Contracts were previously estimated based on commodity futures market prices.

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Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk - Summary of Certain Amounts Related to Hedging Activities (Detail) - Cash Flow Hedges [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ (38)
Commodity Contracts [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ (38)

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Related-Party Transactions - Additional Information (Detail) - Cellectis [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Related Party Transaction [Line Items]
Minimum net worth required	$ 300,000,000		$ 300,000,000
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 500,000	$ 400,000	$ 800,000	$ 1,000,000

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Net Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net loss	$ (9,403)	$ (7,576)	$ (16,778)	$ (11,946)
Average number of common shares—basic and diluted EPS	32,732,988	29,840,827	32,704,834	28,851,491
Loss per share—basic and diluted	$ (0.29)	$ (0.25)	$ (0.51)	$ (0.41)
Anti-dilutive stock options and restricted stock units			5,592,441	4,421,547

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Stock-Based Compensation - Additional Information (Detail)	Jun. 30, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares registered and available for grant	2,006,505
2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares registered and available for grant	2,444,581

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Stock-Based Compensation - Summary of Fair Values of Stock Options Granted and Assumptions used in Black-Scholes Model (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair values of stock options granted	$ 10,610	$ 10,260
Risk-free interest rate, minimum	1.90%	2.50%
Risk-free interest rate, maximum	2.50%	2.80%
Expected volatility, minimum	77.90%	40.90%
Expected volatility, maximum	78.90%	54.70%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 9 months 18 days	6 years 3 months 18 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	10 years	9 years 2 months 12 days

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Stock-Based Compensation - Stock Options - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,304	$ 2,292	$ 3,860	$ 2,224
2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options priced at fair market value, percent			100.00%
Stock option expiration period			10 years
Stock option, vesting period			6 years
Stock-based compensation expense	1,500	$ 1,400	$ 2,300	$ 1,000
Weighted average remaining contractual term			8 years 4 months 24 days
Aggregate intrinsic value of options outstanding and exercisable	$ 9,300		$ 9,300

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Stock-Based Compensation - Summary of Stock Option Activity (Detail)	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Exercisable, Beginning Balance | shares	1,278,038
Options Exercisable, Ending Balance | shares	1,585,276
Weighted-Average Exercise Price Per Share, Beginning Balance | $ / shares	$ 7.45
Weighted-Average Exercise Price Per Share, Ending Balance | $ / shares	$ 8.34
Options Outstanding, Beginning Balance | shares	3,201,887
Options Outstanding, Granted | shares	1,490,000
Options Outstanding, Exercised | shares	(85,452)
Options Outstanding, Forfeited or expired | shares	(12,085)
Options Outstanding, Other activity | shares	12,495
Options Outstanding, Ending Balance | shares	4,606,845
Weighted-Average Exercise Price Per Share, Beginning Balance | $ / shares	$ 10.67
Weighted-Average Exercise Price Per Share, Granted | $ / shares	14.75
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	3.61
Weighted-Average Exercise Price Per Share, Forfeited or expired | $ / shares	17.72
Weighted-Average Exercise Price Share, Other activity | $ / shares	13.29
Weighted-Average Exercise Price Per Share, Ending Balance | $ / shares	$ 12.11

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Stock-Based Compensation - Summary of Net Cash Proceeds from Exercise of Stock Options Less Shares Used for Minimum Withholding Taxes and Intrinsic Value of Options Exercised (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Net cash proceeds	$ 183	$ 527	$ 308	$ 1,241
Intrinsic value of options exercised	$ 527	$ 1,899	$ 880	$ 5,159

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Stock-Based Compensation - Restricted Stock Units - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,304	$ 2,292	$ 3,860	$ 2,224
Unrecognized stock-based compensation expense related to to non-vested stock options and restricted stock units	22,400		$ 22,400
2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			6 years
Stock-based compensation expense	1,500	1,400	$ 2,300	1,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value vested	1,300	1,500	1,400	1,500
Stock-based compensation expense	800	900	$ 1,600	1,200
Unrecognized stock-based compensation expense, expected recognition weighted-average period			42 months
Restricted Stock Units [Member] | 2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Nonemployee Restricted Stock Units [Member] | Cellectis [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends	$ 400	$ 700	$ 800	$ 1,400
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, expected recognition weighted-average period			61 months

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Stock-Based Compensation - Summary of Activity of Restricted Stock Units (Detail) - Restricted Stock Units [Member]	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units outstanding, Unvested beginning balance | shares	1,051,414
Number of restricted stock units outstanding, Granted | shares	100,000
Number of restricted stock units outstanding, Vested | shares	(168,718)
Number of restricted stock units outstanding, Forfeited | shares	(2,000)
Number of restricted stock units outstanding, Unvested ending balance | shares	980,696
Weighted-average grant date fair value, Unvested beginning balance | $ / shares	$ 10.15
Weighted-average grant date fair value, Granted | $ / shares	12.48
Weighted-average grant date fair value, Vested | $ / shares	8.36
Weighted-average grant date fair value, Forfeited | $ / shares	8.00
Weighted-average grant date fair value, Unvested ending balance | $ / shares	$ 10.62

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Stock-Based Compensation - Performance Stock Units - Additional Information (Detail) - $ / shares	Jun. 28, 2019	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock, shares granted		2,006,505
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance stock settled in restricted stock, restriction period	2 years
Increase in common stock starting price	$ 12.48
Performance Stock Units [Member] | Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%
Performance Stock Units [Member] | Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	100.00%
Performance Stock Units [Member] | Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	120.00%
Performance Stock Units [Member] | Three Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock, shares granted	311,667

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Stock-Based Compensation - Cellectis Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,304	$ 2,292	$ 3,860	$ 2,224
Cellectis [Member] | Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 100		$ 200

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Leases, Other Commitments, and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Other Commitments [Line Items]
Total rent expense under operating lease	$ 20,000	$ 78,000	$ 69,000	$ 160,000
Forward purchase commitment amount			19,000,000
Equipment [Member]
Other Commitments [Line Items]
Lease term					4 years
Restricted cash	1,500,000		$ 1,500,000
Sale-leaseback draw down amount	$ 200,000
Maximum [Member] | Equipment [Member]
Other Commitments [Line Items]
Sale-leaseback that can be financed or leased					$ 900,000

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Employee Benefit Plan - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Compensation Related Costs [Abstract]
Defined contribution plan description			We provide a 401(k) defined contribution plan for all regular full-time employees who have completed three months of service.
Expenses to the plan by employer	$ 49,000	$ 27,000	$ 105,000	$ 76,000

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Condensed Financial Statements - Summary of Certain Balance Sheet Amounts (Detail) $ in Thousands	Jun. 30, 2019 USD ($)
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Raw materials	$ 79
Work-in-process	18
Finished goods	14
Total	$ 111

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Condensed Financial Statements - Summary of Certain Statements of Operations Amounts (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	$ 2,304	$ 2,292	$ 3,860	$ 2,224
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	539	1,325	779	888
Selling and General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	$ 1,765	$ 967	$ 3,081	$ 1,336

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Condensed Financial Statements - Summary of Components of Interest, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Interest expense	$ (370)	$ (317)	$ (740)	$ (552)
Interest income	462	245	1,004	412
Interest, net	$ 92	$ (72)	$ 264	$ (140)

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Condensed Financial Statements - Summary of Statements of Certain Statements of Cash Flows Amounts (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Cash and cash equivalents	$ 76,434	$ 105,620	$ 93,794
Restricted cash, current	381		381
Non-current restricted cash	1,128		1,113
Total	77,943	105,620	$ 95,288	$ 56,664
Interest paid	737	207
Proceeds from the sale and leaseback of land, buildings, and equipment	217
Non-cash additions to land, buildings, and equipment		7,096
Offering costs in accounts payable and accrued liabilities		445
Non-cash addition to financing lease obligations	12
Total	$ 229	$ 7,541

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Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2019 Segment
Segment Reporting [Abstract]
Number of reportable segments	1