- Calyxt Inc CLXT has entered into a research collaboration with a food ingredient manufacturer based in Asia to develop an improved soybean to produce oil as a commercial alternative to palm oil.
- As part of the research collaboration, Calyxt will receive cash payments in each of the two years of its term.
- The agreement also includes a commercial option for the global food ingredient manufacturer.
- Calyxt estimates potential future aggregate payments of more than $35 million over the likely term of the commercial agreement.
- In addition to the potential health benefits, the company expects the targeted soybean and its oil to address sustainability challenges associated with palm oil.
- Price Action: CLXT shares are trading lower by 4.62% at $3.49 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
