Calyxt soars on merger deal with gene-editing co Cibus

Cibus

17/01/2023 16:02

(Updates)
    ** Shares of plant-based biotech co Calyxt Inc  CLXT.O  more
than doubles to hit $0.5 - stock set to see its best day ever
    ** Co enters into an all-stock merger deal with Cibus, an
agriculture-based gene-editing company
    ** Combined co to trade on Nasdaq Capital Market by the name
Cibus Inc after deal close
    ** Cibus co-founder Rory Riggs to become Chief Executive
Officer and Chairman of the combined co
    ** CLXT shareholders to own 5% of the combined co, after
deal close
    ** CLXT has declined 80% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))