Cellectis: Stable Net Loss of $17.8M in Q1, Cash Secured Until 2027
Cellectis announced its financial results for the first quarter of 2026 on Monday, reporting a nearly stable net loss of $17.8 million, but with an increased operational loss of $11.0 million from the previous year. The French biotech is focusing its resources on developing its portfolio of allogeneic CAR-T therapies, with two data analyses expected in the fourth quarter of 2026 that are anticipated to be major turning points in validating its strategy. The available cash, estimated at $188 million as of March 31, is expected to fund operations until the end of 2027.
Increased Operational Loss, Decreased Revenue
Revenue and other income totaled $7.5 million in Q1 2026, down from $12.0 million in the same period in 2025, a decrease of $4.5 million. This contraction primarily stems from a $4.9 million decrease in revenue related to the research and collaboration agreement with AstraZeneca. Research and development expenses rose to $27.2 million from $21.9 million a year earlier, an increase of $5.3 million, driven by a $3.6 million increase in personnel expenses and $2.0 million in external purchases and charges. Administrative and commercial expenses also increased by $0.9 million to $5.6 million, mainly due to stock-based compensation costs ($0.4 million) and other expenses ($0.4 million). The operational loss widened to $25.2 million compared to $14.2 million in the first quarter of 2025.
Positive Financial Result and Nearly Stable Net Loss
Cellectis reported a net financial gain of $7.4 million in Q1 2026, reversing a net financial loss of $3.9 million recorded a year earlier, an improvement of $11.4 million. This improvement came from a $5.6 million increase in financial income, including a $6.5 million gain from the fair value assessment of EIB warrants in Q1 2026 compared to $1.8 million a year earlier, as well as $2.0 million in exchange gains. Financial expenses decreased by $5.8 million, mainly due to a $6.5 million reduction in exchange losses, partially offset by a $0.2 million increase in interest on financial liabilities.
Cash Reserves of $188 Million to Cover Until End of 2027
As of March 31, 2026, Cellectis had consolidated cash reserves, cash equivalents, restricted accounts, and term deposits totaling $188 million, down $23 million from $211 million as of December 31, 2025. The company estimates that this cash base will be sufficient to fund its operations until the fourth quarter of 2027. This evolution reflects $13.0 million in customer revenues, $2.9 million in interest received, offset by $14.5 million in supplier payments, $18.6 million in personnel expenses, $3.4 million in lease liabilities, and $1.4 million in repayment of the State-Guaranteed Loan. The company is focusing its expenditures on the development of its candidate product portfolio, including Lasmé-cel and Éti-cel, as well as leveraging its production capacities in Paris and Raleigh.
