- Calyxt Inc (NASDAQ: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.
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