Cellectis reports EUR 62.1 million loss for 2013
Biotechnology company Cellectis SA reported a net loss of EUR 62.1 million for the fiscal year 2013. The loss was primarily attributed to a strategic restructuring and market shifts.
Paris, France – Biotechnology firm Cellectis SA announced a net loss of EUR 62.1 million for the fiscal year 2013. The company cited a significant decline in its tools and services market and substantial asset impairment charges as key factors influencing the financial results.
Cellectis reported a 21% decrease in operating income compared to 2012, attributing this drop to what it described as a "brutal collapse" in the market for its tools and services. The operational loss was also affected by a cost structure that became inadequate in light of reduced revenues.
During the second half of 2013, Cellectis initiated a strategic refocus on therapeutic development. This shift led to a significant adjustment in the valuation of certain non-strategic assets, resulting in impairment charges exceeding EUR 29 million. The restructuring also incurred EUR 1.9 million in costs related to staff reductions.
As of December 31, 2013, Cellectis had equity of EUR 5 million and cash reserves of EUR 7.6 million. The company stated that its available liquidity is sufficient to fund its operations for the next 18 months. Significant developments in early 2014 include a collaboration agreement with Servier and a capital increase of EUR 20.52 million.