View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Aug. 05, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
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		33,184,336
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 (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 3,875	$ 58,610
Short-term investments	29,942
Restricted cash	393	388
Accounts receivable	2,411	1,122
Due from related parties	2
Inventory	5,282	2,594
Prepaid expenses and other current assets	1,926	808
Total current assets	43,831	63,522
Non-current restricted cash	1,040	1,040
Land, buildings, and equipment	22,663	23,212
Other non-current assets	427	324
Total assets	67,961	88,098
Current liabilities:
Accounts payable	572	1,077
Accrued expenses	1,998	2,544
Accrued compensation	1,293	2,181
Due to related parties	381	977
Current portion of financing lease obligations	361	356
Other current liabilities	44	61
Total current liabilities	4,649	7,196
Financing lease obligations	18,109	18,244
Long-term debt	1,518
Other non-current liabilities	132	150
Total liabilities	24,408	25,590
Stockholders’ equity:
Common stock, $0.0001 par value; 275,000,000 shares authorized; 33,140,672 shares issued and 33,040,520 shares outstanding as of June 30, 2020, and 33,033,689 shares issued and 32,951,329 shares outstanding as of December 31, 2019	3	3
Additional paid-in capital	188,656	185,588
Common stock in treasury, at cost; 100,152 shares as of June 30, 2020, and 82,360 shares as of December 31, 2019	(1,043)	(1,043)
Accumulated deficit	(144,022)	(122,057)
Accumulated other comprehensive income (loss)	(41)	17
Total stockholders’ equity	43,553	62,508
Total liabilities and stockholders’ equity	$ 67,961	$ 88,098

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
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	33,140,672	33,033,689
Common stock, shares outstanding	33,040,520	32,951,329
Treasury stock, shares	100,152	82,360

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 2,307	$ 408	$ 4,684	$ 566
Cost of goods sold	5,321	303	9,205	337
Gross margin	(3,014)	105	(4,521)	229
Operating expenses:
Research and development	2,825	2,738	5,612	4,957
Selling and supply chain	1,349	1,202	2,929	2,107
General and administrative	3,808	5,206	8,528	9,368
Management fees	42	451	104	812
Total operating expenses	8,024	9,597	17,173	17,244
Loss from operations	(11,038)	(9,492)	(21,694)	(17,015)
Interest, net	154	92	(244)	264
Foreign currency transaction loss	(18)	(3)	(27)	(27)
Loss before income taxes	(10,902)	(9,403)	(21,965)	(16,778)
Income taxes	0	0	0	0
Net loss	$ (10,902)	$ (9,403)	$ (21,965)	$ (16,778)
Basic and diluted loss per share	$ (0.33)	$ (0.29)	$ (0.67)	$ (0.51)
Weighted average shares outstanding - basic and diluted	33,039,338	32,732,988	33,013,739	32,704,834

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, 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 income (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 income (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 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
Stock based compensation, 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
Stock based compensation, 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

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net loss	$ (21,965)	$ (16,778)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	904	689
Stock-based compensation	3,068	3,860
Changes in operating assets and liabilities:
Accounts receivable	(1,289)	(810)
Due to/from related parties	(598)	(1,156)
Inventory	(2,688)	(111)
Prepaid expenses and other current assets	(1,118)	(169)
Accounts payable	(505)	(423)
Accrued expenses	(546)	(14)
Accrued compensation	(888)	(67)
Other current liabilities	(93)	(513)
Other non-current assets	59	(378)
Net cash used by operating activities	(25,659)	(15,870)
Investing activities
Short-term investments	(29,942)
Purchases of land, buildings, and equipment	(517)	(1,319)
Net cash used by investing activities	(30,459)	(1,319)
Financing activities
Proceeds from Payroll Protection Act loan	1,518
Repayments of financing lease obligations	(130)	(122)
Proceeds from the exercise of stock options		308
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 provided (used) by financing activities	1,388	(156)
Net decrease in cash, cash equivalents and restricted cash	(54,730)	(17,345)
Cash, cash equivalents and restricted cash - beginning of period	60,038	95,288
Cash, cash equivalents and restricted cash - end of period	$ 5,308	$ 77,943

Basis of Presentation & Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

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, 2019 filed with the SEC on March 5, 2020. The accompanying Balance Sheet as of December 31, 2019 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, 2019.

Short-term investments

We consider investments with more than ninety days to maturity at issuance to be short-term investments. These short-term investments are considered trading securities and are carried at fair value with any unrealized gains and losses recorded in current earnings as a component of interest, net.

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

6 Months Ended

Jun. 30, 2020

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.

We measure certain assets and liabilities at fair value on a recurring basis, including short-term investments, financing lease obligations and commodity futures and options. 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 assets, liabilities, and derivative positions recorded at fair value and their respective levels in the fair value hierarchy as of June 30, 2020 and December 31, 2019, were as follows:

	June 30, 2020								June 30, 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	$	29,942	$	—	$	—	$	29,942	$	—	$	—	$	—	$	—
Commodity futures and options		836		—		—		836		—		—		—		—
Financing lease obligations		—				—		—		—		15,364		—		15,364
Total	$	30,778	$	—	$	—	$	30,778	$	—	$	15,364	$	—	$	15,364

	December 31, 2019								December 31, 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:
Financing lease obligations	$	—	$	—	$	—	$	—	$	—	$	15,651	$	—	$	15,651
Commodity futures and options		62		—		—		62		—		—		—		—
Total	$	62	$	—	$	—	$	62	$	—	$	15,651	$	—	$	15,651

The composition of our short-term investments at June 30, 2020 and December 31, 2019 were as follows:

	As of June 30,		As of December 31,
In Thousands	2020		2019
Corporate debt securities	$	23,951	$	—
Commercial paper		5,991		—
Total	$	29,942	$	—

Commodity Price Risk

We enter into seed and grain production agreements (Forward Purchase Contracts) with settlement values based on commodity futures market prices. These Forward Purchase Contracts allow the counterparty to fix their sales prices at various times as defined in the contract. We are also engaged in the business of selling soybean oil and meal under a variety of pricing structures. We may enter hedging arrangements to either fix variable exposures or convert fixed prices to floating prices through commodity derivative contracts. As of June 30, 2020, we held commodity contracts with a notional amount of $15.7 million.

We have designated all 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 (loss) (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, 2020, we expect the entire AOCI balance to be reclassified into earnings within the next five 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
	For the Six Months Ended June 30,					For the Six Months Ended June 30,
In thousands	2020			2019		2020		2019
Cash flow hedges:
Commodity derivative contracts	$	(102	)	$	—	$	44	$	—
Total	$	(102	)	$	—	$	44	$	—

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 and until late December 2019, also held deposits at a financial institution that exceeded insured limits. In the first quarter of 2020, we diversified this risk by shifting our investments to a diverse portfolio of short-dated, high investment-grade securities 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.

Related-Party Transactions

6 Months Ended

Jun. 30, 2020

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 months ended June 30, 2020, and $0.5 million for the same period in 2019. We incurred management fee expenses of $0.1 million for the six months ended June 30, 2020, and $0.8 million for the same period in 2019.

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, as well as a percentage of any sublicense revenues. We incurred nominal license and royalty fees for the three months ended June 30, 2020 and 2019. We incurred license and royalty fees of $0.1 million for the six months ended June 30, 2020, and nominal fees for the same period in 2019.

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, 2020 and 2019.

Net Loss Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Loss Per Share

4. NET LOSS PER SHARE

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

	Three Months Ended June 30,						Six Months Ended June 30,
In Thousands, Except Share Data and Per Share Amounts	2020			2019			2020			2019
Net loss	$	(10,902	)	$	(9,403	)	$	(21,965	)	$	(16,778	)
Weighted average shares outstanding - basic and diluted	$	33,039,338		$	32,732,988		$	33,013,739		$	32,704,834
Basic and diluted loss per share	$	(0.33	)	$	(0.29	)	$	(0.67	)	$	(0.51	)

	As of June 30,
	2020		2019
Anti-dilutive stock options, restricted stock units, and performance stock units		5,140,153		5,592,441

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

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

Stock-Based Compensation

6 Months Ended

Jun. 30, 2020

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), which allowed for the grant of stock options, performance shares and other types of equity awards.

As of June 30, 2020, 2,064,594 shares were registered and available for grant under effective registration statements, while 2,893,117 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 can 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,
	2020			2019
Estimated fair values of stock options granted	$	5.19		$	10.61
Assumptions:
Risk-free interest rate		1.7	%	1.9%-2.5%
Expected volatility		77.4	%	77.9%-78.9%
Expected term (in years)		6.9		6.8-10.0

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 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 United States Treasury zero-coupon yield curve in effect at the date 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 that options granted are expected to be outstanding determined using the simplified method. We have not paid dividends on our common stock and we do not currently plan to pay any cash dividends in 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 is as follows:

	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share
Balance as of December 31, 2019		1,789,567	$	8.73		4,481,359		$	11.73
Granted						60,000			7.30
Exercised						—			—
Forfeited or expired						(357,531	)		15.03
Balance as of June 30, 2020		2,028,498	$	9.33		4,183,828		$	11.39

Stock-based compensation expense related to stock option awards is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
In Thousands	2020		2019		2020		2019
Stock-based compensation expense	$	1,246	$	1,508	$	2,252	$	2,277

At June 30, 2020, options outstanding and exercisable had an aggregate intrinsic value of $1.3 million and the weighted average remaining contractual term was 6.6 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	2020		2019		2020		2019
Net cash proceeds	$	—	$	183	$	—	$	308
Intrinsic value of options exercised	$	—	$	527	$	—	$	880

As of June 30, 2020, unrecognized compensation expense related to non-vested stock options was $9.0 million. This expense will be recognized over 52 months on average.

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 is as follows:

	Number of Restricted Stock Units Outstanding			Weighted- Average Grant Date Fair Value
Unvested balance at December 31, 2019		813,526		$	10.31
Granted		—			—
Vested		(117,389	)		9.97
Forfeited		(51,479	)		10.59
Unvested balance at June 30, 2020		644,658		$	10.35

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	2020		2019		2020		2019
Grant-date fair value	$	660	$	1,279	$	1,170	$	1,411

Stock-based compensation expense related to restricted stock units is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
In Thousands	2020		2019		2020		2019
Stock-based compensation expense	$	441	$	796	$	596	$	1,583

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	2020		2019		2020		2019
Deemed dividends from grants to Cellectis employees	$	198	$	366	$	422	$	777

As of June 30, 2020, unrecognized compensation expense related to restricted stock units was $2.1 million. This expense will be recognized over 37 months on average.

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.

Stock-based compensation expense related to performance stock units is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
In Thousands	2020		2019		2020		2019
Stock-based compensation expense	$	110	$	—	$	220	$	—

As of June 30, 2020, unrecognized compensation expense related to performance stock units was $1.8 million. This expense will be recognized over 48 months on average.

Income Taxes

6 Months Ended

Jun. 30, 2020

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 consolidated financial statements.

As of June 30, 2020, there were no material changes to what we disclosed regarding tax uncertainties or penalties as of December 31, 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Leases, Other Commitments, and Contingencies

6 Months Ended

Jun. 30, 2020

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 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, 2020, this restricted cash totaled $1.4 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	2020		2019		2020		2019
Rent expense from operating leases	$	23	$	20	$	47	$	69

Other Commitments

As of June 30, 2020, we have noncancelable commitments to purchase grain from farmers and seed from growers at dates throughout 2020 and 2021 aggregating $34.2 million based on current commodity futures market prices, other payments to growers, and estimated yields per acre. This amount is not recorded in the consolidated financial statements because we have not taken delivery of the grain as of June 30, 2020. If growers do not plant our soybeans, we allow the grain production contacts to be cancelled. Therefore, we do not include commitments to purchase grain as noncancelable commitment until the corresponding seed is planted.

Employee Benefit Plan

6 Months Ended

Jun. 30, 2020

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.

	Three Months Ended June 30,				Six Months Ended June 30,
In Thousands	2020		2019		2020		2019
Employee benefit plan expenses	$	78	$	49	$	198	$	105

Supplemental Information

6 Months Ended

Jun. 30, 2020

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	2020			2019
Accounts Receivable:
Accounts receivable	$	1,458		$	1,247
Accounts receivable – extended payment terms		1,188			—
Allowance for doubtful accounts		(235	)		(125	)
Total	$	2,411		$	1,122

Several of our growers have elected to extend their payment terms with us. In exchange for these extensions, we have the right to deduct the amount we are owed from the payment we make upon the purchase of their grain.

	As of June 30,		As of December 31,
In Thousands	2020		2019
Inventory:
Raw materials	$	4,326	$	2,211
Work-in-process		553		272
Finished goods		403		111
Total	$	5,282	$	2,594

Certain statements of operations amounts are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
In Thousands	2020		2019		2020			2019
Stock compensation expense:
Research and development	$	488	$	539	$	807		$	779
Selling and supply chain		151		165		(100	)		228
General and administrative		1,158		1,600		2,361			2,853
Total	$	1,797	$	2,304	$	3,068		$	3,860

	Three Months Ended June 30,						Six Months Ended June 30,
In Thousands	2020			2019			2020			2019
Interest, net:
Interest expense	$	(371	)	$	(370	)	$	(743	)	$	(740	)
Interest income		525			462			499			1,004
Total	$	154		$	92		$	(244	)	$	264

Certain statements of cash flows amounts are as follows:

	As of June 30,
In Thousands	2020		2019
Cash, cash equivalents, restricted cash, and short-term investments:
Cash and cash equivalents	$	3,875	$	76,434
Restricted cash		1,433		1,509
Total cash, cash equivalents, and restricted cash:		5,308		77,943
Short-term investments		29,942		—
Total cash, cash equivalents, restricted cash, and short-term investments:	$	35,250	$	77,943

	Six Months Ended June 30,
In Thousands	2020		2019
Supplemental cash flow information:
Interest paid	$	732	$	737

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

10. SEGMENT INFORMATION

We operate in a single reportable segment, agricultural products. Our current commercial focus is North America. Our major product categories are high oleic soybean oil and high oleic soybean meal.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Long-Term Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt

11. LONG-TERM DEBT

Our long-term debt is comprised of a $1.5 million promissory note pursuant to the Paycheck Protection Program (the “Paycheck Protection Program 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 Paycheck Protection Program loan on April 19, 2020. The Paycheck Protection Program loan matures in April 2022 and bears interest at a per annum rate of 1.00%. The Paycheck Protection Program loan may be prepaid at any time prior to maturity with no prepayment penalties.

The Paycheck Protection Program loan contains customary events of default relating to, among other things, payment defaults and breaches of representations and warranties. Subject to certain conditions, the Paycheck Protection Program loan and accrued interest may 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 Paycheck Protection Program loan must 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% of the amount applied to non-payroll costs.

We have applied the proceeds from the Paycheck Protection Program loan toward qualifying expenses and intend to apply for forgiveness of the full principal amount and all accrued interest. No assurance can be given that we will be granted forgiveness of the Paycheck Protection Program loan in whole or in part.

Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

12. SUBSEQUENT EVENTS

On August 4, 2020, we approved an advancement of our soybean products to a streamlined business model. The impact of the advancement included the elimination of positions related to soybean processing and product sales, resulting in aggregate cash charges of approximately $0.6 million for severance and other related payments, and we expect to record a $0.9 million recapture of non-cash stock compensation expense from forfeitures of un-vested awards. We expect to incur $0.5 million of additional cash charges over the next twelve months as we exit processing and transportation contracts. Contracted grain purchases and sales and the wind down of other contractual obligations are expected to take approximately 12 months.

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

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Short-term investments

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

6 Months Ended

Jun. 30, 2020

Text Block [Abstract]

Summary of Fair Value Measurements and Financial Statement Presentation

	June 30, 2020								June 30, 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	$	29,942	$	—	$	—	$	29,942	$	—	$	—	$	—	$	—
Commodity futures and options		836		—		—		836		—		—		—		—
Financing lease obligations		—				—		—		—		15,364		—		15,364
Total	$	30,778	$	—	$	—	$	30,778	$	—	$	15,364	$	—	$	15,364

	December 31, 2019								December 31, 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:
Financing lease obligations	$	—	$	—	$	—	$	—	$	—	$	15,651	$	—	$	15,651
Commodity futures and options		62		—		—		62		—		—		—		—
Total	$	62	$	—	$	—	$	62	$	—	$	15,651	$	—	$	15,651

Composition of Short-term Investments

The composition of our short-term investments at June 30, 2020 and December 31, 2019 were as follows:

	As of June 30,		As of December 31,
In Thousands	2020		2019
Corporate debt securities	$	23,951	$	—
Commercial paper		5,991		—
Total	$	29,942	$	—

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
	For the Six Months Ended June 30,					For the Six Months Ended June 30,
In thousands	2020			2019		2020		2019
Cash flow hedges:
Commodity derivative contracts	$	(102	)	$	—	$	44	$	—
Total	$	(102	)	$	—	$	44	$	—

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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

	Three Months Ended June 30,						Six Months Ended June 30,
In Thousands, Except Share Data and Per Share Amounts	2020			2019			2020			2019
Net loss	$	(10,902	)	$	(9,403	)	$	(21,965	)	$	(16,778	)
Weighted average shares outstanding - basic and diluted	$	33,039,338		$	32,732,988		$	33,013,739		$	32,704,834
Basic and diluted loss per share	$	(0.33	)	$	(0.29	)	$	(0.67	)	$	(0.51	)

	As of June 30,
	2020		2019
Anti-dilutive stock options, restricted stock units, and performance stock units		5,140,153		5,592,441

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

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,
	2020			2019
Estimated fair values of stock options granted	$	5.19		$	10.61
Assumptions:
Risk-free interest rate		1.7	%	1.9%-2.5%
Expected volatility		77.4	%	77.9%-78.9%
Expected term (in years)		6.9		6.8-10.0

Summary of Stock Option Activity

Information on stock option activity is as follows:

	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share
Balance as of December 31, 2019		1,789,567	$	8.73		4,481,359		$	11.73
Granted						60,000			7.30
Exercised						—			—
Forfeited or expired						(357,531	)		15.03
Balance as of June 30, 2020		2,028,498	$	9.33		4,183,828		$	11.39

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	2020		2019		2020		2019
Net cash proceeds	$	—	$	183	$	—	$	308
Intrinsic value of options exercised	$	—	$	527	$	—	$	880

Summary of Activity of Restricted Stock Units

Information on restricted stock unit activity is as follows:

	Number of Restricted Stock Units Outstanding			Weighted- Average Grant Date Fair Value
Unvested balance at December 31, 2019		813,526		$	10.31
Granted		—			—
Vested		(117,389	)		9.97
Forfeited		(51,479	)		10.59
Unvested balance at June 30, 2020		644,658		$	10.35

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	2020		2019		2020		2019
Grant-date fair value	$	660	$	1,279	$	1,170	$	1,411

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	2020		2019		2020		2019
Deemed dividends from grants to Cellectis employees	$	198	$	366	$	422	$	777

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	2020		2019		2020		2019
Stock-based compensation expense	$	1,246	$	1,508	$	2,252	$	2,277

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	2020		2019		2020		2019
Stock-based compensation expense	$	441	$	796	$	596	$	1,583

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	2020		2019		2020		2019
Stock-based compensation expense	$	110	$	—	$	220	$	—

Leases, Other Commitments, and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

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	2020		2019		2020		2019
Rent expense from operating leases	$	23	$	20	$	47	$	69

Employee Benefit Plan (Tables)

6 Months Ended

Jun. 30, 2020

Postemployment Benefits [Abstract]

Summary of Defined Contribution Plan

	Three Months Ended June 30,				Six Months Ended June 30,
In Thousands	2020		2019		2020		2019
Employee benefit plan expenses	$	78	$	49	$	198	$	105

Supplemental Information (Tables)

6 Months Ended

Jun. 30, 2020

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	2020			2019
Accounts Receivable:
Accounts receivable	$	1,458		$	1,247
Accounts receivable – extended payment terms		1,188			—
Allowance for doubtful accounts		(235	)		(125	)
Total	$	2,411		$	1,122

	As of June 30,		As of December 31,
In Thousands	2020		2019
Inventory:
Raw materials	$	4,326	$	2,211
Work-in-process		553		272
Finished goods		403		111
Total	$	5,282	$	2,594

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	2020		2019		2020			2019
Stock compensation expense:
Research and development	$	488	$	539	$	807		$	779
Selling and supply chain		151		165		(100	)		228
General and administrative		1,158		1,600		2,361			2,853
Total	$	1,797	$	2,304	$	3,068		$	3,860

	Three Months Ended June 30,						Six Months Ended June 30,
In Thousands	2020			2019			2020			2019
Interest, net:
Interest expense	$	(371	)	$	(370	)	$	(743	)	$	(740	)
Interest income		525			462			499			1,004
Total	$	154		$	92		$	(244	)	$	264

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	2020		2019
Cash, cash equivalents, restricted cash, and short-term investments:
Cash and cash equivalents	$	3,875	$	76,434
Restricted cash		1,433		1,509
Total cash, cash equivalents, and restricted cash:		5,308		77,943
Short-term investments		29,942		—
Total cash, cash equivalents, restricted cash, and short-term investments:	$	35,250	$	77,943

	Six Months Ended June 30,
In Thousands	2020		2019
Supplemental cash flow information:
Interest paid	$	732	$	737

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, 2020	Dec. 31, 2019
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	$ 30,778	$ 62
Fair Values of Liabilities	15,364	15,651
Short Term Investments [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	29,942
Commodity Futures and Options [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	836	62
Financing Lease Obligations [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Liabilities	15,364	15,651
Level 1 [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	30,778	62
Level 1 [Member] \| Short Term Investments [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	29,942
Level 1 [Member] \| Commodity Futures and Options [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Assets	836	62
Level 2 [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Liabilities	15,364	15,651
Level 2 [Member] \| Financing Lease Obligations [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Fair Values of Liabilities	$ 15,364	$ 15,651

Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk - Composition of Short-term Investments (Detail) $ in Thousands	Jun. 30, 2020 USD ($)
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Total short-term investments	$ 29,942
Corporate Debt Securities [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Total short-term investments	23,951
Commercial Paper [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Total short-term investments	$ 5,991

Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk - Additional Information (Detail) $ in Millions	Jun. 30, 2020 USD ($)
Commodity Contracts [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Commodity derivative assets, notional amount	$ 15.7

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, 2020 USD ($)
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ (102)
Amount of Gain (Loss) Reclassified to Earnings	44
Commodity Derivative Contracts [Member]
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Amount of Gain (Loss) Recognized in AOCI	(102)
Amount of Gain (Loss) Reclassified to Earnings	$ 44

Related-Party Transactions - Additional Information (Detail) - Cellectis [Member] - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Minimum net worth required		$ 300,000,000
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 500,000	100,000	$ 800,000
License and Royalty Fees [Member]
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party		$ 100,000

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net loss	$ (10,902)	$ (9,403)	$ (21,965)	$ (16,778)
Weighted average shares outstanding - basic and diluted	33,039,338	32,732,988	33,013,739	32,704,834
Basic and diluted loss per share	$ (0.33)	$ (0.29)	$ (0.67)	$ (0.51)
Anti-dilutive stock options, restricted stock units, and performance stock units			5,140,153	5,592,441

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stock-Based Compensation - Additional Information (Detail)	Jun. 30, 2020 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	2,064,594
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	2,893,117

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, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair values of stock options granted	$ 5.19	$ 10.61
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		1.90%
Expected volatility		77.90%
Expected term (in years)		6 years 9 months 18 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		2.50%
Expected volatility		78.90%
Expected term (in years)		10 years

Stock-Based Compensation - Stock Options - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to non-vested stock options	$ 9,000,000.0
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
Weighted average remaining contractual term	6 years 7 months 6 days
Aggregate intrinsic value of options outstanding and exercisable	$ 1,300,000
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends paid on common stock	$ 0
Unrecognized stock-based compensation expense, expected recognition weighted-average period	52 months

Stock-Based Compensation - Summary of Stock Option Activity (Detail)	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Exercisable, Beginning Balance \| shares	1,789,567
Options Exercisable, Ending Balance \| shares	2,028,498
Weighted-Average Exercise Price Per Share, Beginning Balance \| $ / shares	$ 8.73
Weighted-Average Exercise Price Per Share, Ending Balance \| $ / shares	$ 9.33
Options Outstanding, Beginning Balance \| shares	4,481,359
Options Outstanding, Granted \| shares	60,000
Options Outstanding, Forfeited or expired \| shares	(357,531)
Options Outstanding, Ending Balance \| shares	4,183,828
Weighted-Average Exercise Price Per Share, Beginning Balance \| $ / shares	$ 11.73
Weighted-Average Exercise Price Per Share, Granted \| $ / shares	7.30
Weighted-Average Exercise Price Per Share, Forfeited or expired \| $ / shares	15.03
Weighted-Average Exercise Price Per Share, Ending Balance \| $ / shares	$ 11.39

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,797	$ 2,304	$ 3,068	$ 3,860
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,246	$ 1,508	$ 2,252	$ 2,277

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, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Net cash proceeds	$ 183	$ 308
Intrinsic value of options exercised	$ 527	$ 880

Stock-Based Compensation - Restricted Stock Units - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($)
2017 Omnibus Plan [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	37 months
Restricted Stock Units [Member] \| 2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years

Stock-Based Compensation - Summary of Activity of Restricted Stock Units (Detail) - Restricted Stock Units [Member]	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units outstanding, Unvested beginning balance \| shares	813,526
Number of restricted stock units outstanding, Vested \| shares	(117,389)
Number of restricted stock units outstanding, Forfeited \| shares	(51,479)
Number of restricted stock units outstanding, Unvested ending balance \| shares	644,658
Weighted-average grant date fair value, Unvested beginning balance \| $ / shares	$ 10.31
Weighted-average grant date fair value, Vested \| $ / shares	9.97
Weighted-average grant date fair value, Forfeited \| $ / shares	10.59
Weighted-average grant date fair value, Unvested ending balance \| $ / shares	$ 10.35

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value	$ 660	$ 1,279	$ 1,170	$ 1,411

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,797	$ 2,304	$ 3,068	$ 3,860
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 441	$ 796	$ 596	$ 1,583

Stock-Based Compensation - Summary of Stock-Based Compensation Granted as Deemed Dividends (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
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	$ 198	$ 366	$ 422	$ 777

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, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock, shares granted		2,064,594
2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		6 years
Performance stock, shares granted		2,893,117
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		$ 1.8
Unrecognized stock-based compensation expense, expected recognition weighted-average period		48 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] \| 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 - Summary of Stock-Based Compensation Expenses Related to Performance Stock Units (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,797	$ 2,304	$ 3,068	$ 3,860
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 110		$ 220

Leases, Other Commitments, and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Other Commitments [Line Items]
Restricted cash	$ 1,433	$ 1,509
Forward purchase noncancelable commitments amount	$ 34,200
Equipment [Member]
Other Commitments [Line Items]
Lease term	4 years
Restricted cash	$ 1,400

Leases, Other Commitments, and Contingencies - Summary of Rent Expense from Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating Leases Rent Expense [Abstract]
Rent expense from operating leases	$ 23	$ 20	$ 47	$ 69

Employee Benefit Plan - Additional Information (Detail)	6 Months Ended
Employee Benefit Plan - Additional Information (Detail)	Jun. 30, 2020
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.

Employee Benefit Plan - Summary of Defined Contribution Plan (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Employee benefit plan expenses	$ 78	$ 49	$ 198	$ 105

Condensed Financial Statements - Summary of Certain Balance Sheet Amounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts Receivable:
Accounts receivable	$ 1,458	$ 1,247
Allowance for doubtful accounts	(235)	(125)
Total	2,411	1,122
Inventory:
Raw materials	4,326	2,211
Work-in-process	553	272
Finished goods	403	111
Total	5,282	$ 2,594
Extended Payment Terms [Member]
Accounts Receivable:
Accounts receivable	$ 1,188

Condensed Financial Statements - Summary of Certain Statements of Operations Amounts (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	$ 1,797	$ 2,304	$ 3,068	$ 3,860
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	488	539	807	779
Selling and Supply Chain [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	151	165	(100)	228
General and Administrative Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	$ 1,158	$ 1,600	$ 2,361	$ 2,853

Condensed Financial Statements - Summary of Components of Interest, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Interest expense	$ (371)	$ (370)	$ (743)	$ (740)
Interest income	525	462	499	1,004
Total	$ 154	$ 92	$ (244)	$ 264

Condensed Financial Statements - Summary of Statements of Certain Statements of Cash Flows Amounts (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Cash and cash equivalents	$ 3,875	$ 76,434	$ 58,610
Restricted cash	1,433	1,509
Total cash, cash equivalents, and restricted cash:	5,308	77,943	$ 60,038	$ 95,288
Short-term investments	29,942
Total cash, cash equivalents, restricted cash, and short-term investments:	35,250	77,943
Interest paid	$ 732	$ 737

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2020 Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Long-Term Debt - Additional Information (Detail) - Paycheck Protection Program Loan CARES Act [Member] - USD ($)		6 Months Ended
	Apr. 19, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Loan, face amount	$ 1,500,000
Loan, interest rate	1.00%
Loan, maturity date	2022-04
Prepayment penalties	$ 0
Forgiveness eligibility description		In order to be eligible for forgiveness, the proceeds of the Paycheck Protection Program loan must 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% of the amount applied to non-payroll costs.

Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Aug. 04, 2020	Jun. 30, 2020	Jun. 30, 2019
Subsequent Event [Line Items]
Stock-based compensation		$ 3,068	$ 3,860
Subsequent Event [Member] \| Soybean Products [Member]
Subsequent Event [Line Items]
Severance and other charges	$ 600
Stock-based compensation	900
Additional cash charges	$ 500