Cellectis (ALCLS) Q4 2024 earnings summary

Executive summary

• Advanced three R&D programs with AstraZeneca: allogeneic CAR-T for hematological malignancies, allogeneic CAR-T for solid tumors, and in vivo gene therapy for a genetic disorder.

• AstraZeneca completed a $140 million equity investment, now holding up to 44% of share capital and 30% of voting rights.

• Focused clinical development on BALLI-01 (UCART22 for B-cell ALL) and NATHALI-01 (UCART20x22 for non-Hodgkin lymphoma); deprioritized UCART123.

• Received orphan drug designations for UCART22 from both FDA and European Commission; CLLS52 also received designations.

Financial highlights

• Cash, cash equivalents, restricted cash, and fixed-term deposits totaled $264 million as of December 31, 2024, up from $156 million a year prior.

• $47 million received from AstraZeneca collaboration, including $25 million upfront and $22 million in milestones.

• Revenues and other income rose to $49.2 million for 2024 from $9.2 million in 2023, driven by AstraZeneca and Servier collaborations.

• R&D expenses increased to $90.5 million in 2024; SG&A expenses rose to $19.1 million.

• Net loss attributable to shareholders narrowed to $36.8 million (or $0.41/share) in 2024 from $101.1 million (or $1.77/share) in 2023.

Outlook and guidance

• Cash runway expected to fund operations into mid-2027, excluding potential milestone payments.

• Phase I dataset for UCART22 to be presented in Q3 2025, with additional data at ASH conference in Q4.

• Phase II study for UCART22 expected to open for recruitment in Q4 2025.

• Phase I data for UCART20x22 in non-Hodgkin lymphoma expected in late 2025.