Cellectis S.A. (NASDAQ: CLLS)

Sector: Healthcare Industry: Biotechnology CIK: 0001627281
Market Cap 323.62 Mn
P/B 3.22
P/E -9.15
P/S 3.92
ROIC (Qtr) -12.26
Div Yield % 0.00
Rev 1y % (Qtr) 105.89
Total Debt (Qtr) 119.22 Mn
Debt/Equity (Qtr) 1.19

About

Cellectis S.A., known by its ticker symbol CLLS, operates in the biotechnological industry with a focus on gene-editing technologies. The company's core business activities involve the development of allogeneic Chimeric Antigen Receptor T-cells (CAR T-cells) for immuno-oncology applications and gene-edited hematopoietic stem and progenitor cells (HSPC) for other therapeutic indications. Cellectis utilizes its proprietary technologies to produce cost-effective, "off-the-shelf" products that can be distributed worldwide. Cellectis operates in the...

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Price action

Investment thesis

Bull case

  • Strong tangible asset base of 342.20M provides 2.87x coverage of total debt 119.22M, indicating robust asset backing and low credit risk.
  • Short-term investments of 139.98M provide solid 1.32x coverage of other current liabilities 105.91M, indicating strong liquidity.
  • Operating cash flow of (29.09M) provides strong 31.93x coverage of operating expenses (911000), showing operational efficiency.
  • Robust tangible asset base of 342.20M provides 4.71x coverage of working capital 72.62M, indicating strong operational backing.
  • R&D investment of 89.95M represents healthy 0.96x of deferred revenue 94.01M, indicating strong future innovation pipeline.

Bear case

  • Operating cash flow of (29.09M) barely covers its investment activities of (68.60M), with a coverage ratio of 0.42, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (68.60M) provide weak support for R&D spending of 89.95M, which is -0.76x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (29.09M) provides insufficient coverage of deferred revenue obligations of 94.01M, which is -0.31x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (29.09M) shows concerning coverage of stock compensation expenses of 4.74M, with a -6.13 ratio indicating potential earnings quality issues.
  • Free cash flow of (31.52M) provides weak coverage of capital expenditures of 2.43M, with a -12.97 ratio suggesting additional external financing needs for growth initiatives.

Retrospective application and retrospective restatement [axis] Breakdown of Revenue (2023)

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,151.25 Bn -1,249.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 485.22 Bn 7,078.40 97.58 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 122.74 Bn 33.40 10.47 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 82.16 Bn 18.24 5.73 2.71 Bn
5 ARGX Argenx Se 48.85 Bn 32.43 25,472.44 -
6 ALNY Alnylam Pharmaceuticals, Inc. 46.12 Bn 1,058.58 14.37 3.21 Bn
7 BNTC Benitec Biopharma Inc. 42.24 Bn -1,010.00 0.00 0.00 Bn
8 INSM INSMED Inc 28.75 Bn -24.29 64.32 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.10 11.11
EV to Cash from Ops. EV/CFO -12.98 26.32
EV to Debt EV to Debt 3.17 688.48
EV to EBIT EV/EBIT -43.12 -10.97
EV to EBITDA EV/EBITDA -67.24 8.32
EV to Free Cash Flow [EV/FCF] EV/FCF -11.98 25.03
EV to Market Cap EV to Market Cap 1.17 163.46
EV to Revenue EV/Rev 4.57 148.57
Price to Book Value [P/B] P/B 3.22 20.73
Price to Earnings [P/E] P/E -9.15 -0.34
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.47
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.14
Interest Coverage Int. cover (Qtr) -0.34 860.86
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -5.28 -26.99
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -67.16 756.75
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 79.39 -53.03
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 90.52 -4.42
EBIT Growth (1y) % EBIT 1y % (Qtr) 79.81 -62.56
EBT Growth (1y) % EBT 1y % (Qtr) 59.01 -19.19
EPS Growth (1y) % EPS 1y % (Qtr) 66.67 -4.07
FCF Growth (1y) % FCF 1y % (Qtr) -152.15 -33.40
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 133.83 264.38
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.24 0.14
Cash Payout Ratio Cash Payout Ratio 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 0.35 3.81
Current Ratio Curr Ratio (Qtr) 1.49 7.25
Debt to Equity Ratio Debt/Equity (Qtr) 1.19 0.43
Interest Cover Ratio Int Coverage (Qtr) -0.34 860.86
Times Interest Earned Times Interest Earned (Qtr) -0.34 860.86
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 14.60 -17,746.13
EBIT Margin % EBIT Margin % (Qtr) -10.61 -18,101.92
EBT Margin % EBT Margin % (Qtr) -42.20 -18,961.86
Gross Margin % Gross Margin % (Qtr) 100.00 -9.24
Net Profit Margin % Net Margin % (Qtr) -42.80 -18,911.61