Cellectis reports 2009 financial results

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Cellectis , the French genome engineering specialist, reports today its consolidated financial results according to International Financial Reporting Standards for the year ending December 31, 2009.

Paris, March 12, 2010 – Cellectis (Alternext: ALCLS), the French genome engineering specialist, reports today its consolidated financial results according to International Financial Reporting Standards (IFRS) for the year ending December 31, 2009.

Key financial figures:
* Total operating revenues increased by 14% between 2008 and 2009 from €10.6 million to €12.1 million. This was driven by several important deals (Limagrain, Monsanto, Bayer Healthcare, BASF Plant Science) and by progress with existing partners. In 2008, revenues were driven primarily by a single contract (over €7 million from Regeneron Pharmaceuticals), which represented nearly 70% of total operating revenues.
* Total operating expenses increased 48% between 2008 and 2009, rising from €14.0 million to €20.8 million due to increased investment in therapeutic programs, in particular preclinical activities.
* Operating activities consumed €4.9 million in cash in 2009, compared to an increase in cash of €1.4 million in 2008. Overall, Cellectis strengthened its cash position by €16.9 million year on year, from €28.7 million at the end of 2008 to €45.6 million at the end of 2009, mainly as a result of a successful capital increase in October 2009.

Commenting on the results, Marc Le Bozec, Chief Financial Officer of Cellectis said: "2009 was a banner year for Cellectis as we continued to transform the company from a research hub founded 10 years ago to an organization fully committed to maximizing the value of its technology. We have laid important groundwork for growth and we plan to build on these foundations in the year ahead. We will achieve this by increasing our presence in the research tools market, securing recognition of our strong intellectual property estate through signing further commercial agreements, growing our plant sciences subsidiary and advancing the development of meganucleases for therapeutic applications. Our strategy is to remain focused on those applications that have the greatest potential for shareholder value creation."

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