Cellectis S.A. (NASDAQ:CLLS) Q1 2024 Earnings Conference Call May 29, 2024 8:00 AM ET

Company Participants

Arthur Stril - Interim-CFO
André Choulika - CEO
Mark Frattini - Chief Medical Officer

Conference Call Participants

Gena Wang - Barclays
Dev Prasad - Jefferies
Salveen Richter - Goldman Sachs
Jack Allen - Baird
Luisa Morgado - Van Lanschot Kempen
Kuan-Hung Lin - Wells Fargo

Operator

Good morning, everyone, and welcome to the Cellectis First Quarter 2024 Earnings Call. [Operator Instructions] Please be aware that today's conference call is being recorded.

I'd now like to turn the conference over to your first speaker, Arthur Stril, Interim Chief Financial Officer. You may begin.

Arthur Stril

Good morning, and welcome, everyone, to Cellectis' first quarter 2024 corporate update and financial results conference call. Joining me on the call today are Dr. André Choulika, our Chief Executive Officer; and Dr. Mark Frattini, our Chief Medical Officer. Yesterday evening, Cellectis issued a 6-K in the press release reporting our financial statements for the three months' period ending March 31, 2024, and a corporate and business update. The report and press release are available on our website at cellectis.com.

As a reminder, we will make statements regarding Cellectis' financial outlook, including the sufficiency of cash to fund operations in addition to its manufacturing, regulatory and product development status as well as product development status of its license partners. These forward-looking statements, which are based on our management's current expectations and assumptions and on information currently available to management, including information provided or otherwise publicly reported by our licensed partners, are subject to risks and uncertainties that may cause actual results to differ from those forecasted.

A description of these risks can be found in our most recent Form 20-F filed with the Securities and Exchange Commission, SEC; and the financial report, including the management report for the year ended on December 31, 2023, and subsequent filings Cellectis makes with the SEC from time to time.

I would now like to turn the call over to André.

André Choulika

Thank you, Arthur. Good morning, and thank you, everyone, for joining us today.

Last November, we were excited to announce our strategic collaboration and investment agreement with one of the most impressive pharmaceutical company of the past decade, AstraZeneca, to design and shape next generation of cell and gene therapies.

This agreement, AstraZeneca made an initial investment of $105 million to Cellectis composed of an $80 million equity investment in exchange of 16 million ordinary shares at $5 per share and a $25 million upfront payment under the joint research collaboration agreement.