Cellectis S.A. Q4 FY2025 earnings call

Selectus was founded with the belief that gene editing could transform patient treatment. In 2025, LASMA cell achieved 100% overall response rate in the target phase 2 population for relapsed or refractory B-cell acute lymphoblastic leukemia. Eticell showed an 88% overall response rate and 63% complete response rate in phase one for relapsed or refractory non-Hodgkin lymphoma. The company's gene editing platform is part of a broader allogenic CAR-T ecosystem with partners like Allogene and IOVANTS making progress. R&D activities continue with AstraZeneca collaboration.

As of December 31st, 2025, Selectus' cash, cash equivalents, restricted cash, and fixed-term deposits classified as current financial assets amounted to $211 million, a $53 million decrease from $264 million in 2024. The decrease was mainly due to $36.9 million cash from revenue, $8.4 million in interest received, partially offset by $50.5 million in cash payments to suppliers, $40 million in wages/bonuses/social expenses, $11 million in lease debt payments, and $5.4 million in PGE loan repayment.

2026 will be a year of data and milestones. Selectus expects to complete the first interim analysis of 40 patients in LASMA cell's pivotal phase two trial in Q4 2026. The full Phase I data of Eticell is planned to be presented this year. Anticipated BLA submission for LASMA cell is in the second half of 2028, and for Eticell in H2 2029.

Forward statements are subject to risks and uncertainties that may cause actual results to differ from forecasts. Risks are described in the most recent form 20F filed with the SEC.

Q: Two from us. First on the BASM cell and the Valley 1 enrollment, how is recruitment tracking in the pivotal study, and when do you expect complete enrollment for that dose selection portion?

A: Currently, we're doing very well. Site opening is on track. We're on track to complete our data analysis by the end of the year for the first 40 patients interim analysis.

Q: Could you provide more details on the survey arbitration given the ruling that you have to engage in discussions with ALO regarding the direct licensing of 501 and help us understand how this impacts your eligibility for the $340 million in milestones into this interim data?

A: The arbitral decision of December 2025 ruled on the partial termination of license agreements. This product has been brought back to Selectis, and we remain fully eligible for up to $340 million in development and sales milestones.