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Actionable news in CLLS: Cellectis SA,

Move Over GMO's: IPO for Gene Editor Calyxt Launches Next Week

Now a clinical stage biotech company with two products in clinical development, Cellectis S.A. (CLLS) is revving up its engine by spinning off its ag unit, Calyxt, in an initial public offering.

Calyxt wants to introduce gene-editing to foods hitting your plate, a process that claims to pioneer healthier food ingredients for consumers and farmers alike. Calyxt's IPO will offer 6.06 million shares at a target price of $15 to $18, which should raise $100 million for the New Brighton, Minn.-based company. Calyxt plans to list on the Nasdaq during the week of July 17 under the ticker CLXT. Citigroup Inc., Jefferies Group LLC, and Wells Fargo & Co. are the joint bookrunners on the deal whereas BMO Capital Markets and Ladenburg Thalmann are serving as co-managers.

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