Calyxt Inc. (CLXT) stock prices were down by 1.86% as of the market closing on October 5th, 2021. This brought the price per share up to USD$3.16 at the end of the trading day. Subsequent premarket fluctuations have seen the stock surge by 8.54%, bringing it up to USD$3.43.
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CLXT Stock Launches New Initiative
October 5th, 2021 saw the biotechnology company announce the launch of its strategic initiative. CLXT stock’s initiative will focus on the engineering of synthetic biology solutions for a diversified base of customers. This network of consumers spans an expanded group of end markets, including the nutraceutical, cosmeceutical, pharmaceutical, advanced materials, and chemical industries.
PlantSpring and BioFactory
A central component of the strategy is the integration of the company’s proprietary technology platform, Plantspring, with its newly commissioned pilot bioreactor, the BioFactory. This combination will enable CLXT stock to rapidly prototype and produce complex plant-derived compounds without the need for outdoor cropping systems. The company is hopeful that it will be able to take a customer’s molecule need with its design, engineering, verification, and pilot-level production process. This aim will be facilitated by machine learning and artificial intelligence and is expected within a 36 month period, with commercial scale production commencing from that point on.
CLXT Stock’s Diversification
The final output will be based on the engineering of plant metabolism in order to mass produce plant-based compounds. The output will be designed to provide customers across a myriad of industries with a safe and more sustainable supply of these compounds for use in multiple product and manufacturing processes.
Building on Success
Following the leveraging of the company’s PlantSpring tech platform with its new bioreactor, the BioFactory. CLXT stock will be well positioned to capitalize on the opportunity. The company will be able to advance plant based synthetic biology solutions for important target customers and end markets. These customer demographics will be helped in increasing the production of more sustainable products toward meeting their corporate sustainability targets. The new potential customers consists of large corporations across nutraceuticals, cosmeceuticals, personal care, and pharmaceuticals industries.
Future Outlook for CLXT Stock
The company reported a strong quarter, consolidated by the launch of its recent strategic initiative. CLXT stock is keen to capitalize on the opportunities afforded to it in a bid to usher in unprecedented increases in shareholder value. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.
