Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 05, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
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 | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 37,270,998 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity File Number | 001-38161 | |
Entity Tax Identification Number | 27-1967997 | |
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 | 55113-1127 | |
City Area Code | 651 | |
Local Phone Number | 683-2807 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common Stock (0.0001 par value) | |
Security Exchange Name | NASDAQ | |
Entity Incorporation, State or Country Code | DE | |
Document Quarterly Report | true | |
Document Transition Report | false |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 17,489 | $ 17,299 |
Short-term investments | 0 | 11,698 |
Restricted cash | 393 | 393 |
Accounts receivable | 3,994 | 4,887 |
Inventory | 2,468 | 1,383 |
Prepaid expenses and other current assets | 629 | 3,930 |
Total current assets | 24,973 | 39,590 |
Non-current restricted cash | 598 | 597 |
Land, buildings, and equipment | 21,998 | 22,860 |
Other non-current assets | 207 | 280 |
Total assets | 47,776 | 63,327 |
Current liabilities: | ||
Accounts payable | 2,183 | 929 |
Accrued expenses | 2,326 | 2,891 |
Accrued compensation | 2,093 | 1,950 |
Due to related parties | 128 | 766 |
Current portion of financing lease obligations | 380 | 364 |
Other current liabilities | 46 | 45 |
Total current liabilities | 7,156 | 6,945 |
Financing lease obligations | 17,682 | 17,876 |
Long-term debt | 0 | 1,518 |
Other non-current liabilities | 1,042 | 113 |
Total liabilities | 25,880 | 26,452 |
Stockholders’ equity: | ||
Common stock, $0.0001 par value; 275,000,000 shares authorized; 37,305,625 shares issued and 37,205,473 shares outstanding as of June 30, 2021, and 37,165,196 shares issued and 37,065,044 shares outstanding as of December 31, 2020 | 4 | 4 |
Additional paid-in capital | 204,663 | 204,807 |
Common stock in treasury, at cost; 100,152 shares as of June 30, 2021, and December 31, 2020 | (1,043) | (1,043) |
Accumulated deficit | (181,728) | (166,893) |
Total stockholders’ equity | 21,896 | 36,875 |
Total liabilities and stockholders’ equity | $ 47,776 | $ 63,327 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
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 | 37,305,625 | 37,165,196 |
Common stock, shares outstanding | 37,205,473 | 37,065,044 |
Treasury stock, shares | 100,152 | 100,152 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Revenue | $ 11,880 | $ 2,307 | $ 16,282 | $ 4,684 |
Cost of goods sold | 11,527 | 5,321 | 18,272 | 9,205 |
Gross margin | 353 | (3,014) | (1,990) | (4,521) |
Operating expenses: | ||||
Research and development | 2,844 | 2,825 | 5,894 | 5,612 |
Selling, general, and administrative | 3,478 | 5,167 | 7,736 | 11,465 |
Management fees | 15 | 42 | 45 | 104 |
Total operating expenses | 6,337 | 8,034 | 13,675 | 17,181 |
Loss from operations | (5,984) | (11,048) | (15,665) | (21,702) |
Gain upon extinguishment of Payroll Protection Program Loan | 1,528 | 0 | 1,528 | 0 |
Interest, net | (357) | 154 | (703) | (244) |
Non-operating expenses | 6 | (8) | 5 | (19) |
Loss before income taxes | (4,807) | (10,902) | (14,835) | (21,965) |
Income taxes | ||||
Net loss | $ (4,807) | $ (10,902) | $ (14,835) | $ (21,965) |
Basic and diluted net loss per share | $ (0.13) | $ (0.33) | $ (0.40) | $ (0.67) |
Weighted average shares outstanding - basic and diluted | 37,199,349 | 33,039,338 | 37,168,018 | 33,013,739 |
Anti-dilutive stock options, restricted stock units, and performance stock units | 5,223,327 | 5,140,153 | 5,223,327 | 5,140,153 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED 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 Income (Loss) [Member] |
Beginning balance at Dec. 31, 2019 | $ 62,508 | $ 3 | $ 185,588 | $ (1,043) | $ (122,057) | $ 17 |
Beginning balance, shares at Dec. 31, 2019 | 32,951,329 | |||||
Net loss | (21,965) | (21,965) | ||||
Stock-based compensation | 3,068 | 3,068 | ||||
Issuance of common stock, shares | 106,983 | |||||
Shares withheld for net share settlement, shares | (17,792) | |||||
Other comprehensive income (loss) | (58) | (58) | ||||
Ending balance at Jun. 30, 2020 | 43,553 | $ 3 | 188,656 | (1,043) | (144,022) | (41) |
Ending balance, shares at Jun. 30, 2020 | 33,040,520 | |||||
Beginning balance at Mar. 31, 2020 | 52,536 | $ 3 | 186,859 | (1,043) | (133,120) | (163) |
Beginning balance, shares at Mar. 31, 2020 | 32,990,647 | |||||
Net loss | (10,902) | (10,902) | ||||
Stock-based compensation | 1,797 | 1,797 | ||||
Issuance of common stock, shares | 49,873 | |||||
Other comprehensive income (loss) | 122 | 122 | ||||
Ending balance at Jun. 30, 2020 | 43,553 | $ 3 | 188,656 | (1,043) | (144,022) | $ (41) |
Ending balance, shares at Jun. 30, 2020 | 33,040,520 | |||||
Beginning balance at Dec. 31, 2020 | 36,875 | $ 4 | 204,807 | (1,043) | (166,893) | |
Beginning balance, shares at Dec. 31, 2020 | 37,065,044 | |||||
Net loss | (14,835) | (14,835) | ||||
Stock-based compensation | (371) | (371) | ||||
Issuance of common stock | 227 | 227 | ||||
Issuance of common stock, shares | 140,429 | |||||
Ending balance at Jun. 30, 2021 | 21,896 | $ 4 | 204,663 | (1,043) | (181,728) | |
Ending balance, shares at Jun. 30, 2021 | 37,205,473 | |||||
Beginning balance at Mar. 31, 2021 | 25,605 | $ 4 | 203,565 | (1,043) | (176,921) | |
Beginning balance, shares at Mar. 31, 2021 | 37,163,187 | |||||
Net loss | (4,807) | (4,807) | ||||
Stock-based compensation | 1,079 | 1,079 | ||||
Issuance of common stock | 19 | 19 | ||||
Issuance of common stock, shares | 42,286 | |||||
Ending balance at Jun. 30, 2021 | $ 21,896 | $ 4 | $ 204,663 | $ (1,043) | $ (181,728) | |
Ending balance, shares at Jun. 30, 2021 | 37,205,473 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Operating activities | ||
Net loss | $ (14,835,000) | $ (21,965,000) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Gain upon extinguishment of Payroll Protection Program Loan | (1,528,000) | 0 |
Depreciation and amortization | 1,180,000 | 904,000 |
Stock-based compensation | (371,000) | 3,068,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 893,000 | (1,289,000) |
Due to/from related parties | (638,000) | (598,000) |
Inventory | (1,085,000) | (2,688,000) |
Prepaid expenses and other current assets | 3,301,000 | (1,118,000) |
Accounts payable | 1,254,000 | (505,000) |
Accrued expenses | (555,000) | (546,000) |
Accrued compensation | 143,000 | (888,000) |
Other | 992,000 | (26,000) |
Net cash used by operating activities | (11,249,000) | (25,651,000) |
Investing activities | ||
Sales and (purchases) of short-term investments, net | 11,698,000 | (29,942,000) |
Purchases of land, buildings, and equipment | (307,000) | (525,000) |
Net cash provided by (used by) investing activities | 11,391,000 | (30,467,000) |
Financing activities | ||
Proceeds from Payroll Protection Program loan | 1,518,000 | |
Repayments of financing lease obligations | (178,000) | (130,000) |
Proceeds from the exercise of stock options | 227,000 | 0 |
Net cash provided by financing activities | 49,000 | 1,388,000 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 191,000 | (54,730,000) |
Cash, cash equivalents, and restricted cash - beginning of period | 18,289,000 | 60,038,000 |
Cash, cash equivalents, and restricted cash – end of period | $ 18,480,000 | $ 5,308,000 |
Basis of Presentation & Summary
Basis of Presentation & Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation & Summary of Significant Accounting Policies | 1. BASIS OF PRESENTATION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Our unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP or 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 consolidated 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 consolidated 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 consolidated 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 consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 4, 2021. The accompanying Balance Sheet as of December 31, 2020, was derived from the audited consolidated financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and notes included in the Annual Report on Form 10-K for the year ended December 31, 2020. Risks and Uncertainties Considering factors such as our anticipated cash receipts from sales of grain and our product development and technology licensing efforts with partners, our anticipated cash burn rate, and our expense reduction efforts, we believe our cash, cash equivalents, and restricted cash as of June 30, 2021, will be sufficient to fund our operations for at least the next twelve months and into the second half of 2022. We anticipate that we will continue to generate losses for the next several years before revenue is enough to support our operating capital requirements. Until we can generate substantial cash flow, we expect to finance a portion of future cash needs through cash on hand, commercialization activities, which may result in various types of revenue streams from seed sales and future development agreements, trait licenses, and technology licenses, including upfront and milestone payments, annual license fees, and royalties, government or other third-party funding, and public or private equity or debt financings. However, additional capital may not be available on reasonable terms, if at all. If we are unable to raise additional capital in enough amounts or on terms acceptable to us, we may have to significantly delay, scale back, or discontinue the development or commercialization of our activities. Failure to receive additional funding could cause us to cease operations, in part or in full. If we raise additional funds through the issuance of additional debt or equity securities, it could result in dilution to our existing stockholders and increased fixed payment obligations, and these securities may have rights senior to those of our shares of common stock. Any of these events could significantly harm our business, financial condition, and prospects. Net Loss Per Share All anti-dilutive stock options, restricted stock units, and performance stock units are excluded from the calculation of net loss per share. Due to our net loss position for the three and six months ended June 30, 2021, and June 30, 2020 , all of our outstanding stock options, restricted stock units, and performance stock units are considered anti-dilutive and excluded from the calculation of net loss per share. Accordingly, the treasury method was not used in determining the number of anti-dilutive stock options and restricted stock units. |
Financial Instruments Measured
Financial Instruments Measured at Fair Value and Concentrations of Credit Risk | 6 Months Ended |
Jun. 30, 2021 | |
Text Block [Abstract] | |
Financial Instruments Measured at Fair Value and Concentrations of Credit Risk | 2. FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE AND CONCENTRATIONS OF CREDIT RISK Financial Instruments Measured at Fair Value and Financial Statement Presentation Financial instruments including cash and cash equivalents, restricted cash, accounts payable, and all other current liabilities have carrying values that approximate fair value. We measure short-term investments and commodity derivative contracts at fair value on a recurring basis. The accounting guidance establishes a three-tier hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as of the measurement date as follows: Level 1: Fair values are based on unadjusted quoted prices in active trading markets for identical assets and liabilities. Level 2: Fair values are based on observable quoted prices other than those in Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3: Fair values are based on at least one significant unobservable input for the asset or liability. Fair Value Measurements and Financial Statement Presentation The fair values of our financial instruments measured at fair value and their respective levels in the fair value hierarchy as of June 30, 2021, and December 31, 2020, were as follows: June 30, 2021 June 30, 2021 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: Commodity derivative contracts $ 1 $ — $ — $ 1 $ — $ — $ — $ — Total $ 1 $ — $ — $ 1 $ — $ — $ — $ — December 31, 2020 December 31, 2020 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: Short-term investments $ 11,698 $ — $ — $ 11,698 $ — $ — $ — $ — Commodity derivative contracts 467 — — 467 — — — — Total $ 12,165 $ — $ — $ 12,165 $ — $ — $ — $ — The non-current portion of our financing lease obligations are also considered a financial instrument, which we measure at fair value for disclosure purposes. It is a Level 2 liability and had a fair value of $ 14.9 million as of June 30, 2021 , and a fair value of $ 15.2 million as of December 31, 2020. Commodity Price Risk We enter into seed and grain production agreements with settlement values based on commodity futures market prices (Forward Purchase Contracts). These Forward Purchase Contracts allow the counterparty to fix their sales prices at various times as defined in the contract. Because we intend to take physical delivery under the Forward Purchase Contracts, we have grain inventory we will need to sell. We intend to sell these inventories at then-current market prices. As a result, when the Forward Purchase Contract counterparty fixes their grain prices, we enter hedging arrangements by selling futures contracts which converts our exposure to these fixed prices to floating prices. We expect to maintain these hedging relationships until such grain inventory is sold to help stabilize our margins. We do not account for these economic hedges as accounting hedges. We expect any gains or losses from these hedging arrangements to be offset by gains or losses on the grain inventories when such grain inventories are sold. As of June 30, 2021 , we held commodity contracts with a notional amount of $ 8.0 million. As of June 30, 2021, those commodity contracts carried an unrealized loss of $ 1.0 million that had been recognized in earnings over the period from their acquisition to June 30, 2021, and that may be realized in the future depending upon the timing of the liquidation of those positions which is based on our future grain sales and changes in soybean prices. Prior to August 1, 2020, we designated all our commodity derivative contracts as cash flow hedges based on the nature of our business activities. As a result, all gains or losses associated with recording those commodity derivative contracts at fair value were recorded as a component of accumulated other comprehensive income (loss) (AOCI). We reclassified amounts from AOCI to cost of goods sold when we sold the underlying products to which those hedges related. For the three and six months ended June 30, 2020, we reclassified an immaterial amount from AOCI to cost of goods sold, and there were no such reclassifications in the same period in 2021. Foreign Exchange Risk Foreign currency fluctuations affect our foreign currency cash flows related primarily to payments to Cellectis. Our principal foreign currency exposure is to the euro. We do not 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 highly liquid securities and investment funds. We diversify the risk posed by exceeding deposit insurance limits by allocating from time-to-time certain investments to a diverse portfolio of short-dated, high investment-grade securities, which we classify as short-term investments that are recorded at fair value in our consolidated financial statements. We ensure the credit risk in this portfolio is in accordance with our internal policies and if necessary, make changes to investments to ensure credit risk is minimized. We have not experienced any counterparty credit losses. As of June 30, 2021, we did not hold any short-term investments. |
Related-Party Transactions
Related-Party Transactions | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | 3. RELATED-PARTY TRANSACTIONS We have several agreements that govern our relationship with Cellectis, some of which require us to make payments to Cellectis. Pursuant to our management services agreement with Cellectis, we incurred nominal management fee expenses for the three and six months ended June 30, 2021, and 2020. Cellectis has also guaranteed the lease agreement for our headquarters. Cellectis’ guarantee of our obligations under the lease will terminate at the end of the second consecutive calendar year in which our tangible net worth exceeds $ 300 million. TALEN ® is our primary gene editing technology, and it is the foundation of our technology platform. TALEN ® technology was invented by researchers at the University of Minnesota and Iowa State University and exclusively licensed to Cellectis. We obtained an exclusive license for the TALEN ® technology for commercial use in plants from Cellectis. We also license other technology from Cellectis. We owe Cellectis royalties on any revenue we generate from sales of products less certain amounts as defined in the license agreement, royalties on certain cumulative revenue thresholds, and a percentage of any sublicense revenues. We have incurred nominal license and royalty fees for the three and six months ended June 30, 2021, and 2020. We have entered into various agreements with the University of Minnesota, pursuant to which we have been granted both exclusive and non-exclusive license agreements that carry annual license fees, milestone payments, royalties, and associated legal fees. These agreements primarily relate to gene-editing tools, enabling technologies and germplasm. We incurred nominal expenses pursuant to these agreements for the three and six months ended June 30, 2021, and 2020. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | 4. 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), which allowed for the grant of stock options, restricted stock units, performance stock units and other types of equity awards. On February 19, 2021, James Blome ceased serving as our Chief Executive Officer. We recorded a benefit to earnings from a $ 2.5 million recapture of non-cash stock compensation expense from the forfeiture of Mr. Blome’s unvested stock options, restricted stock units, and performance stock units. As of June 30, 2021 , 1,634,125 shares were registered and available for grant under effective registration statements, while 5,950,199 shares were available for grant in the form of stock options, restricted stock, restricted stock units, and performance stock units under the 2017 Plan. On July 16, 2021, we filed a Registration Statement on Form S-8 with the SEC which registered an additional 4,299,904 shares of common stock that may be issued or delivered and sold pursuant to the 2017 Plan and 600,000 shares of common stock that may be issued or delivered and sold pursuant to the Calyxt, Inc. Employee Inducement Incentive Plan (the Inducement Plan). The Inducement Plan shares of common stock are issuable upon the settlement of performance stock units which were granted to Mr. Carr as a material inducement to accept employment as our President and Chief Executive Officer. 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, 2021 2020 Estimated fair values of stock options granted $ 4.54 $ 5.19 Assumptions: Risk-free interest rate 0.6 % - 1.1 % 1.7 % Expected volatility 80.1 % - 82.0 % 77.4 % Expected term (in years) 5.5 - 6.5 6.9 We estimate the fair value of each option on the grant date, or other measurement dates if applicable, using a Black-Scholes option-pricing model, which requires us to make predictive assumptions regarding employee exercise behavior, future stock price volatility, and dividend yield. Our expected term represents the period that options granted are expected to be outstanding determined using the simplified method. We estimate our future stock price volatility using the historical volatility of comparable public companies over the expected term of the option. We estimate the risk-free interest rate based on the United States Treasury zero-coupon yield curve at the date of grant for the expected term of the option. We do not nor do we expect to pay dividends. Option strike prices are set at 100 percent or more of the closing share price on the date of grant, and generally vest over three to six years following the grant date. Options generally expire 10 years after the date of grant. Information on stock option activity is as follows: Options Weighted- Options Weighted- Balance as of December 31, 2020 2,347,663 $ 10.15 4,621,173 $ 10.30 Granted 456,959 5.71 Exercised ( 61,372 ) 3.70 Forfeited or expired ( 550,110 ) 10.57 Balance as of June 30, 2021 2,412,501 $ 10.49 4,466,650 $ 9.89 Stock-based compensation expense related to stock option awards is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock-based compensation expense $ 800 $ 1,246 $ 405 $ 2,252 As of June 30, 2021 , options outstanding and exercisable had an aggregate intrinsic value of $ 0.4 million and the weighted average remaining contractual term was 5.8 years. 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 2021 2020 2021 2020 Net cash proceeds $ 19 $ — $ 227 $ — Intrinsic value of options exercised $ 13 $ — $ 344 $ — As of June 30, 2021 , unrecognized compensation expense related to non-vested stock options was $ 6.7 million. This expense will be recognized over 28 months on average. Restricted Stock Units We grant restricted stock units which generally vest over three to five years after the date of grant. Information on restricted stock unit activity is as follows: Number of Weighted- Unvested balance at December 31, 2020 547,807 $ 9.49 Granted 234,504 5.61 Vested ( 69,323 ) 9.25 Forfeited ( 133,348 ) 12.49 Unvested balance at June 30, 2021 579,640 $ 7.26 The total grant-date fair value of restricted stock unit awards that vested is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Grant-date fair value $ 390 $ 660 $ 641 $ 1,170 Stock-based compensation expense related to restricted stock units is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock-based compensation expense $ 228 $ 441 $ ( 521 ) $ 596 As of June 30, 2021 , unrecognized compensation expense related to restricted stock units was $ 2.1 million. This expense will be recognized over 24 months on average. We treat stock-based compensation awards granted to employees of Cellectis as deemed dividends. We recorded deemed dividends as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Deemed dividends from grants to Cellectis employees $ 107 $ 198 $ 28 $ 422 Performance Stock Units In June 2019, we granted 311,667 performance stock units under the 2017 Plan to three executive officers. The performance stock units will vest at 50 %, 100 % or 120 % of the shares under the award at the end of a three-year performance period based upon increases in the value of our common stock from the grant price of $ 12.48 . The performance stock units will be settled in restricted stock upon vesting, with restrictions on transfer lapsing on the second anniversary of the restricted stock issuance date. During the six months ended June 30, 2021, we recognized a benefit from the forfeiture of 166,667 performance stock units held by Mr. Blome, our former chief executive officer. Stock-based compensation expense related to performance stock units is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock-based compensation expense $ 51 $ 110 $ ( 255 ) $ 220 As of June 30, 2021 , unrecognized compensation expense related to performance stock units was $ 0.6 million. This expense will be recognized over 36 months on average. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 5. 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 consolidated financial statements. As of June 30, 2021, there were no material changes to what we disclosed regarding tax uncertainties or penalties as of December 31, 2020 . |
Leases, Other Commitments, and
Leases, Other Commitments, and Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Leases, Other Commitments, and Contingencies | 6. 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 financing lease. We also have an equipment financing arrangement that is considered a financing lease. This arrangement has a term of four years for each draw. We were required to deposit cash into a restricted account in an amount equal to the future rent payments required by the lease. As of June 30, 2021 , restricted cash totaled $ 1.0 million. We have the option to request the return of excess collateral annually in December, and the amount we expect to receive is reflected as a current asset. Rent expense from operating leases was as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Rent expense from operating leases $ 11 $ 23 $ 24 $ 47 Other Commitments As of June 30, 2021 , we have noncancelable commitments to purchase grain and seed from growers at dates throughout 2021 aggregating $ 6.8 million based on current commodity futures market prices, other payments to growers, and estimated yields per acre. This commitment is not recorded in the consolidated financial statements because we have not taken delivery of the seed or grain as of June 30, 2021 . |
Supplemental Information
Supplemental Information | 6 Months Ended |
Jun. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Supplemental Information | 7. SUPPLEMENTAL INFORMATION Certain balance sheet amounts are as follows: As of June 30, As of December 31, In Thousands 2021 2020 Accounts Receivable: Accounts receivable $ 3,819 $ 4,317 Receivables from growers 175 570 Allowance for doubtful accounts — — Total $ 3,994 $ 4,887 We carry receivables related to amounts we are owed by growers from their purchases of seed. These amounts reduce the cost of the grain we ultimately purchase from the grower and are repaid either on current terms or on an extended payment basis. If a grower has elected extended payment terms, they will pay a higher price per unit and grant us the right to deduct the amount we are owed from the payment we make upon the purchase of their grain. As of June 30, 2021, and December 31, 2020 all of the receivables from growers were on extended payment terms. Certain statements of operations amounts are as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock compensation expense: Research and development $ 417 $ 488 $ 809 $ 807 Selling, general, and administrative 662 1,309 ( 1,180 ) 2,261 Total $ 1,079 $ 1,797 $ ( 371 ) $ 3,068 Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Interest, net: Interest expense $ ( 359 ) $ ( 371 ) $ ( 719 ) $ ( 743 ) Interest income 2 525 16 499 Total $ ( 357 ) $ 154 $ ( 703 ) $ ( 244 ) Certain balance sheet and statements of cash flows amounts are as follows: As of June 30, As of December 31, As of June 30, In Thousands 2021 2020 2020 Cash, cash equivalents, restricted cash, and short-term investments: Cash and cash equivalents $ 17,489 $ 17,299 $ 3,875 Restricted cash 393 393 393 Non-current restricted cash 598 597 1,040 Total cash, cash equivalents, and restricted cash 18,480 18,289 5,308 Short-term investments — 11,698 29,942 Total $ 18,480 $ 29,987 $ 35,250 |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2021 | |
Segment Reporting [Abstract] | |
Segment Information | 8. SEGMENT INFORMATION We operate in a single reportable segment, the development and commercialization of products derived from plant cells. Products commercialized to date have included a soybean and its derivative products, including oil and meal. Our current commercial focus is North America. |
Long-Term Debt
Long-Term Debt | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | 9. LONG-TERM DEBT Our long-term debt was comprised of a $ 1.5 million promissory note pursuant to the Paycheck Protection Program (the PPP loan) established by the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) implemented by the U.S. Small Business Administration (SBA). We received the funds under the PPP loan on April 19, 2020. Subject to certain conditions, the PPP loan and accrued interest were eligible to be forgiven in whole or in part by applying for forgiveness pursuant to the CARES Act and the Paycheck Protection Program. In order to be eligible for forgiveness, the proceeds of the PPP loan were required to be applied to certain eligible expenses, including payroll costs, interest on certain mortgage obligations, rent payments on certain leases, and certain qualified utility payments, with not more than 40 percent of the amount applied to non-payroll costs. We applied the proceeds from the PPP loan toward qualifying expenses. On October 21, 2020, as modified December 29, 2020, we applied for forgiveness of the full principal amount and all accrued interest. O n April 8, 2021, we were notified by the SBA that the full principal amount and all accrued interest of the PPP loan had been forgiven. Accordingly, we recognized a gain upon the extinguishment of the PPP loan for $ 1.5 million in the three months ended June 30, 2021. |
Basis of Presentation & Summa_2
Basis of Presentation & Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Net Loss Per Share | Net Loss Per Share All anti-dilutive stock options, restricted stock units, and performance stock units are excluded from the calculation of net loss per share. Due to our net loss position for the three and six months ended June 30, 2021, and June 30, 2020 , all of our outstanding stock options, restricted stock units, and performance stock units are considered anti-dilutive and excluded from the calculation of net loss per share. Accordingly, the treasury method was not used in determining the number of anti-dilutive stock options and restricted stock units. |
Risks and Uncertainties | Risks and Uncertainties Considering factors such as our anticipated cash receipts from sales of grain and our product development and technology licensing efforts with partners, our anticipated cash burn rate, and our expense reduction efforts, we believe our cash, cash equivalents, and restricted cash as of June 30, 2021, will be sufficient to fund our operations for at least the next twelve months and into the second half of 2022. We anticipate that we will continue to generate losses for the next several years before revenue is enough to support our operating capital requirements. Until we can generate substantial cash flow, we expect to finance a portion of future cash needs through cash on hand, commercialization activities, which may result in various types of revenue streams from seed sales and future development agreements, trait licenses, and technology licenses, including upfront and milestone payments, annual license fees, and royalties, government or other third-party funding, and public or private equity or debt financings. However, additional capital may not be available on reasonable terms, if at all. If we are unable to raise additional capital in enough amounts or on terms acceptable to us, we may have to significantly delay, scale back, or discontinue the development or commercialization of our activities. Failure to receive additional funding could cause us to cease operations, in part or in full. If we raise additional funds through the issuance of additional debt or equity securities, it could result in dilution to our existing stockholders and increased fixed payment obligations, and these securities may have rights senior to those of our shares of common stock. Any of these events could significantly harm our business, financial condition, and prospects. |
Financial Instruments Measure_2
Financial Instruments Measured at Fair Value and Concentrations of Credit Risk (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Text Block [Abstract] | |
Summary of Fair Value Measurements and Financial Statement Presentation | The fair values of our financial instruments measured at fair value and their respective levels in the fair value hierarchy as of June 30, 2021, and December 31, 2020, were as follows: June 30, 2021 June 30, 2021 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: Commodity derivative contracts $ 1 $ — $ — $ 1 $ — $ — $ — $ — Total $ 1 $ — $ — $ 1 $ — $ — $ — $ — December 31, 2020 December 31, 2020 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: Short-term investments $ 11,698 $ — $ — $ 11,698 $ — $ — $ — $ — Commodity derivative contracts 467 — — 467 — — — — Total $ 12,165 $ — $ — $ 12,165 $ — $ — $ — $ — |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
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, 2021 2020 Estimated fair values of stock options granted $ 4.54 $ 5.19 Assumptions: Risk-free interest rate 0.6 % - 1.1 % 1.7 % Expected volatility 80.1 % - 82.0 % 77.4 % Expected term (in years) 5.5 - 6.5 6.9 |
Summary of Stock Option Activity | Information on stock option activity is as follows: Options Weighted- Options Weighted- Balance as of December 31, 2020 2,347,663 $ 10.15 4,621,173 $ 10.30 Granted 456,959 5.71 Exercised ( 61,372 ) 3.70 Forfeited or expired ( 550,110 ) 10.57 Balance as of June 30, 2021 2,412,501 $ 10.49 4,466,650 $ 9.89 |
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 2021 2020 2021 2020 Net cash proceeds $ 19 $ — $ 227 $ — Intrinsic value of options exercised $ 13 $ — $ 344 $ — |
Summary of Activity of Restricted Stock Units | Information on restricted stock unit activity is as follows: Number of Weighted- Unvested balance at December 31, 2020 547,807 $ 9.49 Granted 234,504 5.61 Vested ( 69,323 ) 9.25 Forfeited ( 133,348 ) 12.49 Unvested balance at June 30, 2021 579,640 $ 7.26 |
Summary of Grant Date Fair Value of Restricted Stock Unit Awards Vested | The total grant-date fair value of restricted stock unit awards that vested is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Grant-date fair value $ 390 $ 660 $ 641 $ 1,170 |
Summary of Stock-Based Compensation Granted As Deemed Dividends | We treat stock-based compensation awards granted to employees of Cellectis as deemed dividends. We recorded deemed dividends as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Deemed dividends from grants to Cellectis employees $ 107 $ 198 $ 28 $ 422 |
Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary of Stock-based Compensation Expense | Stock-based compensation expense related to stock option awards is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock-based compensation expense $ 800 $ 1,246 $ 405 $ 2,252 |
Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary of Stock-based Compensation Expense | Stock-based compensation expense related to restricted stock units is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock-based compensation expense $ 228 $ 441 $ ( 521 ) $ 596 |
Performance Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary of Stock-based Compensation Expense | Stock-based compensation expense related to performance stock units is as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Stock-based compensation expense $ 51 $ 110 $ ( 255 ) $ 220 |
Leases, Other Commitments, an_2
Leases, Other Commitments, and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Lease Cost [Abstract] | |
Summary of Rent Expense from Operating Leases | Rent expense from operating leases was as follows: Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Rent expense from operating leases $ 11 $ 23 $ 24 $ 47 |
Supplemental Information (Table
Supplemental Information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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 2021 2020 Accounts Receivable: Accounts receivable $ 3,819 $ 4,317 Receivables from growers 175 570 Allowance for doubtful accounts — — Total $ 3,994 $ 4,887 |
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 2021 2020 2021 2020 Stock compensation expense: Research and development $ 417 $ 488 $ 809 $ 807 Selling, general, and administrative 662 1,309 ( 1,180 ) 2,261 Total $ 1,079 $ 1,797 $ ( 371 ) $ 3,068 Three Months Ended June 30, Six Months Ended June 30, In Thousands 2021 2020 2021 2020 Interest, net: Interest expense $ ( 359 ) $ ( 371 ) $ ( 719 ) $ ( 743 ) Interest income 2 525 16 499 Total $ ( 357 ) $ 154 $ ( 703 ) $ ( 244 ) |
Schedule of Certain Statements of Balance sheet and cash flows amounts | Certain balance sheet and statements of cash flows amounts are as follows: As of June 30, As of December 31, As of June 30, In Thousands 2021 2020 2020 Cash, cash equivalents, restricted cash, and short-term investments: Cash and cash equivalents $ 17,489 $ 17,299 $ 3,875 Restricted cash 393 393 393 Non-current restricted cash 598 597 1,040 Total cash, cash equivalents, and restricted cash 18,480 18,289 5,308 Short-term investments — 11,698 29,942 Total $ 18,480 $ 29,987 $ 35,250 |
Financial Instruments Measure_3
Financial Instruments Measured at Fair Value and Concentrations of Credit Risk - Summary of Fair Value Measurements and Financial Statement Presentation (Detail) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair Values of Assets | $ 12,165 | |
Short Term Investments [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair Values of Assets | $ 1 | 11,698 |
Commodity Derivative Contracts [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair Values of Assets | 1 | 467 |
Level 1 [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair Values of Assets | 12,165 | |
Level 1 [Member] | Short Term Investments [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair Values of Assets | 1 | 11,698 |
Level 1 [Member] | Commodity Derivative Contracts [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair Values of Assets | $ 1 | $ 467 |
Financial Instruments Measure_4
Financial Instruments Measured at Fair Value and Concentrations of Credit Risk - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Fair Value Non-recurring [Member] | Level 2 [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Fair value of financing leases | $ 14.9 | $ 15.2 |
Commodity Contracts [Member] | ||
Fair Value Concentration Of Risk Financial Statement Captions [Line Items] | ||
Commodity derivative assets, notional amount | 8 | |
Unrealized gain loss on derivatives and commodity contracts | $ (1) |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) | Jun. 30, 2021USD ($) |
Cellectis [Member] | |
Related Party Transaction [Line Items] | |
Minimum net worth required | $ 300,000,000 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions | Jul. 16, 2021 | Jun. 30, 2021 | Feb. 19, 2021 | Dec. 31, 2020 |
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 | 1,634,125 | |||
Common Stock Shares Issued | 37,305,625 | 37,165,196 | ||
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 | 5,950,199 | |||
Common Stock Shares Issued | 4,299,904 | |||
Calyxt, Inc. Equity Employee Inducement Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common Stock Shares Issued | 600,000 | |||
Mr. Blome [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected benefit to earnings from recapture of non-cash stock compensation expense | $ (2.5) |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Fair Values of Stock Options Granted and Assumptions used in Black-Scholes Model (Detail) - Stock Options [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Estimated fair values of stock options granted | $ 4.54 | $ 5.19 |
Risk-free interest rate | 1.70% | |
Expected volatility | 77.40% | |
Expected term (in years) | 6 years 10 months 24 days | |
Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free interest rate | 0.60% | |
Expected volatility | 80.10% | |
Expected term (in years) | 5 years 6 months | |
Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free interest rate | 1.10% | |
Expected volatility | 82.00% | |
Expected term (in years) | 6 years 6 months |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Options - Additional Information (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense related to non-vested stock options | $ 6.7 |
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 |
Weighted average remaining contractual term | 5 years 9 months 18 days |
Aggregate intrinsic value of options outstanding and exercisable | $ 0.4 |
2017 Omnibus Plan [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock option, vesting period | 3 years |
2017 Omnibus Plan [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock option, vesting period | 6 years |
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 | 28 months |
Stock-Based Compensation - Su_2
Stock-Based Compensation - Summary of Stock Option Activity (Detail) | 6 Months Ended |
Jun. 30, 2021$ / sharesshares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Options Exercisable, Beginning Balance | shares | 2,347,663 |
Options Exercisable, Ending Balance | shares | 2,412,501 |
Weighted-Average Exercise Price Per Share, Beginning Balance | $ / shares | $ 10.15 |
Weighted-Average Exercise Price Per Share, Ending Balance | $ / shares | $ 10.49 |
Options Outstanding, Beginning Balance | shares | 4,621,173 |
Options Outstanding, Granted | shares | 456,959 |
Options Outstanding, Exercised | shares | (61,372) |
Options Outstanding, Forfeited or expired | shares | (550,110) |
Options Outstanding, Ending Balance | shares | 4,466,650 |
Weighted-Average Exercise Price Per Share, Beginning Balance | $ / shares | $ 10.30 |
Weighted-Average Exercise Price Per Share, Granted | $ / shares | 5.71 |
Weighted-Average Exercise Price Per Share, Exercised | $ / shares | 3.70 |
Weighted-Average Exercise Price Per Share, Forfeited or expired | $ / shares | 10.57 |
Weighted-Average Exercise Price Per Share, Ending Balance | $ / shares | $ 9.89 |
Stock-Based Compensation - Su_3
Stock-Based Compensation - Summary of Stock-Based Compensation Expense Related to Stock Option Awards (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 1,079 | $ 1,797 | $ 371 | $ 3,068 |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 800 | $ 1,246 | $ 405 | $ 2,252 |
Stock-Based Compensation - Su_4
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, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||||
Net cash proceeds | $ 19 | $ 0 | $ 227 | $ 0 |
Intrinsic value of options exercised | $ 13 | $ 0 | $ 344 | $ 0 |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted Stock Units - Additional Information (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2021USD ($) | |
2017 Omnibus Plan [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting period | 3 years |
2017 Omnibus Plan [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting period | 6 years |
Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense related to restricted stock units | $ 2.1 |
Unrecognized stock-based compensation expense, expected recognition weighted-average period | 24 months |
Restricted Stock Units [Member] | 2017 Omnibus Plan [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting period | 3 years |
Restricted Stock Units [Member] | 2017 Omnibus Plan [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting period | 5 years |
Stock-Based Compensation - Su_5
Stock-Based Compensation - Summary of Activity of Restricted Stock Units (Detail) - Restricted Stock Units [Member] | 6 Months Ended |
Jun. 30, 2021$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of restricted stock units outstanding, Unvested beginning balance | shares | 547,807 |
Number of restricted stock units outstanding, Granted | shares | 234,504 |
Number of restricted stock units outstanding, Vested | shares | (69,323) |
Number of restricted stock units outstanding, Forfeited | shares | (133,348) |
Number of restricted stock units outstanding, Unvested ending balance | shares | 579,640 |
Weighted-average grant date fair value, Unvested beginning balance | $ / shares | $ 9.49 |
Weighted-average grant date fair value, Granted | $ / shares | 5.61 |
Weighted-average grant date fair value, Vested | $ / shares | 9.25 |
Weighted-average grant date fair value, Forfeited | $ / shares | 12.49 |
Weighted-average grant date fair value, Unvested ending balance | $ / shares | $ 7.26 |
Stock-Based Compensation - Su_6
Stock-Based Compensation - Summary of Grant Date Fair Value of Restricted Stock Unit Awards Vested (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Grant-date fair value | $ 390 | $ 660 | $ 641 | $ 1,170 |
Stock-Based Compensation - Su_7
Stock-Based Compensation - Summary of Stock-Based Compensation Expenses Related to Restricted Stock Units (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 1,079 | $ 1,797 | $ 371 | $ 3,068 |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 228 | $ 441 | $ (521) | $ 596 |
Stock-Based Compensation - Su_8
Stock-Based Compensation - Summary of Stock-Based Compensation Granted as Deemed Dividends (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Nonemployee Restricted Stock Units [Member] | Cellectis [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Deemed dividends from grants to Cellectis employees | $ 107 | $ 198 | $ 28 | $ 422 |
Stock-Based Compensation - Perf
Stock-Based Compensation - Performance Stock Units - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Performance stock, shares granted | 1,634,125 | |
2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Performance stock, shares granted | 5,950,199 | |
Performance Stock Units [Member] | 2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period | 3 years | |
Increase in common stock starting price | $ 12.48 | |
Unrecognized stock-based compensation expense related to performance stock units | $ 0.6 | |
Unrecognized stock-based compensation expense, expected recognition weighted-average period | 36 months | |
Performance Stock Units [Member] | Tranche One [Member] | 2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting percentage | 50.00% | |
Performance Stock Units [Member] | Tranche Two [Member] | 2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting percentage | 100.00% | |
Performance Stock Units [Member] | Tranche Three [Member] | 2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting percentage | 120.00% | |
Performance Stock Units [Member] | Mr. Blome [Member] | 2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Benefit from forfeiture of stock | 166,667 | |
Performance Stock Units [Member] | Three Executive Officers [Member] | 2017 Omnibus Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Performance stock, shares granted | 311,667 |
Stock-Based Compensation - Su_9
Stock-Based Compensation - Summary of Stock-Based Compensation Expenses Related to Performance Stock Units (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 1,079 | $ 1,797 | $ 371 | $ 3,068 |
Performance Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 51 | $ 110 | $ (255) | $ 220 |
Leases, Other Commitments, an_3
Leases, Other Commitments, and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Other Commitments [Line Items] | |||
Restricted cash | $ 393 | $ 393 | $ 393 |
Forward purchase noncancelable commitments amount | $ 6,800 | ||
Equipment [Member] | |||
Other Commitments [Line Items] | |||
Lease term | 4 years | ||
Restricted cash | $ 1,000 |
Leases, Other Commitments, an_4
Leases, Other Commitments, and Contingencies - Summary of Rent Expense from Operating Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Operating Leases Rent Expense [Abstract] | ||||
Rent expense from operating leases | $ 11 | $ 23 | $ 24 | $ 47 |
Supplemental Information - Summ
Supplemental Information - Summary of Certain Balance Sheet Amounts (Detail) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts Receivable: | ||
Accounts receivable | $ 3,819 | $ 4,317 |
Allowance for doubtful accounts | 0 | 0 |
Total | 3,994 | 4,887 |
Growers [Member] | ||
Accounts Receivable: | ||
Accounts receivable | $ 175 | $ 570 |
Supplemental Information - Su_2
Supplemental Information - Summary of Certain Statements of Operations Amounts (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock compensation expense | $ 1,079 | $ 1,797 | $ 371 | $ 3,068 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock compensation expense | 417 | 488 | 809 | 807 |
Selling, General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock compensation expense | $ 662 | $ 1,309 | $ 1,180 | $ 2,261 |
Supplemental Information - Su_3
Supplemental Information - Summary of Components of Interest, Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ||||
Interest expense | $ (359) | $ (371) | $ (719) | $ (743) |
Interest income | 2 | 525 | 16 | 499 |
Total | $ (357) | $ 154 | $ (703) | $ (244) |
Supplemental Information - Su_4
Supplemental Information - Summary of Certain Statements of Balance Sheet and Cash Flows Amounts (Detail) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ||||
Cash and cash equivalents | $ 17,489 | $ 17,299 | $ 3,875 | |
Restricted cash | 393 | 393 | 393 | |
Non-current restricted cash | 598 | 597 | 1,040 | |
Total cash, cash equivalents, and restricted cash | 18,480 | 18,289 | 5,308 | $ 60,038 |
Short-term investments | 0 | 11,698 | 29,942 | |
Total | $ 18,480 | $ 29,987 | $ 35,250 |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands | Apr. 08, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Apr. 19, 2020 |
Debt Instrument [Line Items] | ||||||
Gain on extinguishment of Payroll Protection Program Loan | $ 1,528 | $ 0 | $ 1,528 | $ 0 | ||
PPP loan | ||||||
Debt Instrument [Line Items] | ||||||
Loan, face amount | $ 1,500 | |||||
Forgiveness eligibility description | In order to be eligible for forgiveness, the proceeds of the PPP loan were required to be applied to certain eligible expenses, including payroll costs, interest on certain mortgage obligations, rent payments on certain leases, and certain qualified utility payments, with not more than 40 percent of the amount applied to non-payroll costs. | |||||
Description of loan forgiveness status | We applied the proceeds from the PPP loan toward qualifying expenses. On October 21, 2020, as modified December 29, 2020, we applied for forgiveness of the full principal amount and all accrued interest. On April 8, 2021, we were notified by the SBA that the full principal amount and all accrued interest of the PPP loan had been forgiven. | |||||
Gain on extinguishment of Payroll Protection Program Loan | $ 1,500 |