Calyxt, Inc. (NASDAQ:CLXT) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:00 am ET

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Calyxt, Inc. (NASDAQ:CLXT) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Calyxt's Second Quarter 2020 Results Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions. [Operator Instructions] This conference is being recorded today, August 6, 2020.

At this time, I'd like to turn the conference over to Chris Tyson, Senior Managing Director of MZ North America, Calyxt's investor relations firm. Please go ahead.

Executive
Chris Tyson

Thank you, and good morning. I'd like to thank you all for taking time to join us for Calyxt's Second Quarter 2020 Business Update and Results Conference Call. Your hosts today are Jim Blome, Chief Executive Officer; Bill Koschak, Chief Financial Officer; and Travis Frey, Chief Technology Officer. A press release detailing these results crossed the wires after the market closed yesterday and is available on the Company's website, calyxt.com.

Before we begin the formal presentation, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results and future operational goals and industry prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to the Company's SEC filings for a list of associated risks.

This presentation also includes a discussion of adjusted EBITDA and gross margin as adjusted. Both are non-GAAP financial measures. In Calyxt's press release and its filings with the SEC, each of which is posted on the Calyxt website at calyxt.com. You will find additional disclosure regarding these non-GAAP measures. Reference to these non-GAAP financial measures should be considered in addition to GAAP financial measures and should not be considered a substitute for results that are presented in accordance with GAAP.

Finally, this conference call is being webcast. The webcast link is in the Investor Relations section of our website at calyxt.com. At this time, I would like to turn the call over to Calyxt's Chief Executive Officer, Jim Blome. Jim, the floor is yours.

Executive
Jim Blome

Thank you, Chris, and thank you for joining us today for Calyxt's Second Quarter 2020 Results Conference Call. Before I address the second quarter and the exciting advancement of our soybean products to a streamlined business model, I would first like to acknowledge our response to the COVID-19 pandemic. We have a dedicated and resilient team that continue to progress all our key projects through their development cycles throughout the second quarter, despite the impact of the pandemic. We have taken several actions to ensure the safety of our employees and our business, and I appreciate everything our team is doing to help ensure we stay safe and our projects remain on track.

Calyxt was created with a mission to deliver disruptive, plant-based innovations with an initial focus on food and agriculture. With our high oleic soybean product, we were the first company to successfully deliver a proof-of-concept for food developed with gene editing technology. The success