487,641

323,221

Premiums related to the share capital

500,840

332,882

Shareholders' equity

Share capital

2,765

2,367

828,525

614,037

(297)

(16,668)

1,834

(326,628)

(253,702)

(78,693)

(99,368)

Non-controlling interests

409,301

264,872

40,970

19,113

Total shareholders' equity

450,272

283,985

^[1]

Non-current liabilities

Non-current financial liabilities

1,018

Non-current provisions

2,681

3,430

Total non-current liabilities

3,699

3,443

Current financial liabilities

333

Trade payables

15,883

9,460

20,754

27,975

Current provisions

1,530

1,427

8,369

6,570

46,869

45,453

Beginning balance at Dec. 31, 2015

$ 500,840

$ 332,882

[1]	2017 consolidated financial statements have been restated for the purpose of IFRS15 application. Reconciliation between the consolidated financial statements presented in previous periods and the 2018 consolidated financial statements is available in Note 2.3.

Statements of Consolidated Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Profit or loss [abstract]
Revenues	$ 12,731	$ 25,188	$ 44,808
Other income	8,701	8,528	11,637
Total revenues and other income	21,432	33,715	56,444	$ 62,565
Operating expenses
Royalty expenses	(2,739)	(2,620)	(1,777)
Research and development expenses	(76,567)	(79,227)	(78,458)
Selling, general and administrative expenses	(47,248)	(44,750)	(43,413)
Other operating income (expenses)	31	232	(99)
Total operating expenses	(126,523)	(126,366)	(123,746)	(93,549)
Operating income (loss)	(105,091)	(92,650)	(67,302)	(30,984)
Financial income	20,572	7,262	7,147
Financial expenses	(3,813)	(18,294)	(7,101)
Financial gain (loss)	16,758	(11,032)	46	8,378
Income tax	0	0	0	0
Net income (loss)	(88,333)	(103,683)	(67,255)	$ (22,606)
Attributable to shareholders of Cellectis	(78,693)	(99,368)	$ (67,255)
Attributable to non-controlling interests	$ (9,640)	$ (4,315)
Basic / Diluted net income (loss) per share attributable to shareholders of Cellectis
Basic net income (loss) per share ($ /share)	$ (1.93)	$ (2.78)	$ (1.91)
Diluted net income (loss) per share ($ /share)	$ (1.93)	$ (2.78)	$ (1.91)

Statements of Consolidated Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of comprehensive income [abstract]
Net income (loss)	$ (88,333)	$ (103,683)	$ (67,255)
Actuarial gains and losses	70	(515)	(30)
Other comprehensive income (loss) that will not be reclassified subsequently to income or loss	70	(515)	(30)
Currency translation adjustment	(19,192)	23,512	(4,333)
Other comprehensive income (loss) that will be reclassified subsequently to income or loss	(19,192)	23,512	(4,333)
Total comprehensive income (loss)	(107,455)	(80,686)	(71,618)
Attributable to shareholders of Cellectis	(97,125)	(75,963)	(71,607)
Attributable to non-controlling interests	$ (10,330)	$ (4,723)	$ (12)

- Definition

The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2017-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=7&date=2017-03-01&anchor=para_18_b&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2017-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=1&date=2017-03-01&anchor=para_24_b&doctype=Standard
-URIDate 2017-03-09

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2017-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=1&date=2017-03-01&anchor=para_32_a_ii&doctype=Standard
-URIDate 2017-03-09

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_28_b&doctype=Standard
-URIDate 2017-03-09

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_23&doctype=Standard
-URIDate 2017-03-09

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B10_b&doctype=Appendix&seq=2
-URIDate 2017-03-09

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_106_d_i&doctype=Standard
-URIDate 2017-03-09

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2017-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=4&date=2017-03-01&anchor=para_39L_e&doctype=Standard
-URIDate 2017-03-09

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_81A_a&doctype=Standard
-URIDate 2017-03-09

+ Details

Statements of Consolidated Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net loss for the period	$ (88,333)	$ (103,683)	$ (67,255)
Reconciliation of net loss and of the cash provided by (used in) operating activities Adjustments for
Amortization and depreciation	2,377	3,371	2,211
Net loss (income) on disposals	20	40	65
Net financial loss (gain)	(16,758)	11,032	(46)
Expenses related to share-based payments	37,218	50,418	58,622
Provisions	(468)	2,908	(365)
Other non cash items		2	(1,432)
Interest (paid) / received	6,905	1,371	1,694
Operating cash flows before change in working capital	(59,040)	(34,540)	(6,507)
Decrease (increase) in inventories	(37)	(109)	50
Decrease (increase) in trade receivables and other current assets	(3,696)	(549)	(997)
Decrease (increase) in subsidies receivables	(8,257)	305	(1,122)
(Decrease) increase in trade payables and other current liabilities	9,374	(335)	(4,384)
(Decrease) increase in deferred income and contract liabilities	(6,480)	(17,099)	(19,750)
Change in working capital	(9,096)	(17,787)	(26,203)
Net cash flows provided by (used in) operating activities	(68,137)	(52,327)	(32,710)
Cash flows from investment activities
Proceeds from disposal of property, plant and equipment	1,262	7,164	24
Acquisition of intangible assets	(171)	(273)	(337)
Acquisition of property, plant and equipment	(4,715)	(2,383)	(13,696)
Net change in non-currentfinancial assets	221	(125)	175
Sale (Acquisition) of current financial assets	39,025	(2,598)	(39,302)
Net cash flows provided by (used in) investing activities	35,623	1,784	(53,137)
Cash flows from financing activities
Increase in share capital net of transaction costs	186,382	2,930	713
Shares of Calyxt issued to third parties	49,942	38,257
Decrease in borrowings	(127)	(41)	(91)
Treasury shares	297	120	(137)
Net cash flows provided by financing activities	236,494	41,266	485
(Decrease) increase in cash	203,981	(9,277)	(85,362)
Cash and cash equivalents at the beginning of the year	256,380	254,568	342,111
Effect of exchange rate changes on cash	(8,860)	11,089	(2,181)
Cash and cash equivalents at the end of the period	$ 451,501	$ 256,380	$ 254,568

Statements of Changes in Consolidated Shareholders' Equity - USD ($)
$ in Thousands

Total

Share Capital Ordinary Shares [member]

Premiums Related to Share Capital [member]

Treasury Shares [member]

Currency Translation Adjustment [member]

Retained Earnings (Deficit) [member]

Income (Loss) [member]

Attributable to Shareholders of Cellectis [member]

Non controlling Interests [member]

^[1]

$ 285,260

$ 2,323

$ 509,938

$ (279)

$ (17,819)

$ (185,120)

$ (24,571)

$ 284,471

$ 789

Beginning balance, shares at Dec. 31, 2015

^[1]

35,178,614

Net Loss

(67,255)

Other comprehensive income (loss)

(4,308)

(4,266)

(30)

(4,296)

(12)

Total comprehensive income (loss)

(71,618)

(4,266)

(30)

(67,255)

(71,551)

(12)

Allocation of prior period loss

(24,571)

24,571

Treasury shares

(137)

Exercise of share warrants and employee warrants

726

723

(6)

726

Exercise of share warrants and employee warrants, amount

$ 9

Exercise of share warrants and employee warrants, shares

156,446

Share based compensation

58,622

57,524

1,098

Balance at end of year at Dec. 31, 2016

^[1]

272,984

$ 2,332

568,185

(416)

(22,085)

(209,651)

(67,255)

271,109

1,876

Ending balance, shares at Dec. 31, 2016

^[1]

35,335,060

Net Loss

(103,683)

(99,368)

(4,315)

Other comprehensive income (loss)

22,997

23,920

(515)

23,405

(408)

Total comprehensive income (loss)

(80,686)

23,920

(515)

(99,368)

(75,963)

(4,723)

Allocation of prior period loss

(67,255)

67,255

Transaction with subsidiaries

$ 26

(26)

Capital Increase, Shares

466,950

^[2]

38,257

23,747

14,510

Treasury shares

120

Exercise of share warrants and employee warrants

2,930

2,921

2,930

Exercise of share warrants and employee warrants, amount

$ 9

Exercise of share warrants and employee warrants, shares

158,052

Balance at end of year at Dec. 31, 2017

(38)

(37)

(1)

(38)

^[1]

283,985

$ 2,367

614,037

(297)

1,835

(253,702)

(99,368)

264,873

19,113

Ending balance, shares at Dec. 31, 2017

^[1]

35,960,062

Non-cash stock-based compensation expense

50,418

42,968

7,450

Net Loss

(88,333)

(78,693)

(9,640)

Other comprehensive income (loss)

(19,122)

(18,502)

(18,432)

(690)

Total comprehensive income (loss)

(107,455)

(18,502)

(78,693)

(97,125)

(10,330)

Allocation of prior period loss

(99,368)

99,368

Transaction with subsidiaries

178,611

$ 379

178,230

178,611

Capital Increase, Shares

6,146,000

^[3]

49,942

26,454

23,488

Treasury shares

239

$ 297

(58)

239

Exercise of share warrants and employee warrants

7,770

7,751

7,770

Exercise of share warrants and employee warrants, amount

$ 19

Exercise of share warrants and employee warrants, shares

324,007

Share based compensation

28,507

Balance at end of year at Dec. 31, 2018

(40)

(28)

(12)

450,272

$ 2,765

828,525

$ (16,668)

$ (326,628)

$ (78,693)

409,301

40,970

Ending balance, shares at Dec. 31, 2018

42,430,069

Non-cash stock-based compensation expense

$ 37,218

$ 28,507

$ 8,711

[1]	2017 consolidated financial statements have been restated for the purpose of IFRS15 application. Reconciliation between the consolidated financial statements presented in previous periods and the 2018 consolidated financial statements is available in Note 2.3.
[2]	Net proceeds to Calyxt from the Calyxt IPO of $58.0 million after deduction of $3.1 million of underwriting discounts and commissions and $3.3 million of other offering expenses. Equity of Calyxt attributable to non-controlling interests of 20.3% was $11.8 million and equity of Calyxt attributable to Cellectis of 79.3% is $26.4 million (after consideration of Cellectis' investment in shares of Calyxt issued as part of the Calyxt IPO for a purchase price of $20 million).
[3]	On May 22, 2018, Calyxt Inc completed a follow-on offering of its common stock. Calyxt Inc sold an aggregate of 4,057,500 shares of common stock at a price of $15.00 per share, including 457,500 shares of common stock pursuant to the exercise of the underwriters' option to purchase additional shares. In the aggregate, Calyxt Inc received net proceeds from the follow-on offering and exercise of the overallotment option of approximately $57.0 million, after deducting underwriting discounts and commissions of $3.2 million and offering expenses totaling approximately $0.7 million. As part of the follow-on offering, Cellectis SA purchased 550,000 shares of common stock for a value of $8.3 million. Transaction with subsidiaries also includes the exercise of 592,342 Calyxt stock options during the period for $2.4 million, partially offset by Cellectis' purchase on June 14, 2018 of 63,175 shares of Calyxt common stock from employees and nonemployees of Calyxt and Cellectis at a price of $19.49 per share (the closing price reported on the Nasdaq Global Market on June 14, 2018) for $1.2 million.

Statements of Changes in Consolidated Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands		12 Months Ended
	Jun. 14, 2018	Dec. 31, 2017
Non-controlling shareholders interest		20.30%
Equity value		$ 264,872
Calyxt Inc [member]
Gross proceeds		58,000
Underwriting discounts and commissions		3,100
Other offering expense		$ 3,300
Non-controlling shareholders interest		20.30%
Number of stock options exercised	592,342
Equity value		$ 11,800
Stock options exercised, value	$ 2,400
Purchase price		$ 20,000
Calyxt Inc [member] \| Cellectis [member]
Percentage of interest attributable to parent		79.30%
Equity value		$ 26,400
Purchase of common shares	63,175
Purchase of common shares price per share	$ 19.49
Purchase of common stock, value	$ 1,200,000

The Company	12 Months Ended
The Company	Dec. 31, 2018
Text block1 [abstract]
The Company	Note 1. The Company Cellectis S.A. (hereinafter “Cellectis” or “we”) is a limited liability company (“société anonyme”) registered and domiciled in Paris, France. We are a clinical-stage biotechnological company, employing our core proprietary technologies to develop best-in-class products in the field of immuno-oncology. Our product candidates, based on gene-edited T-cells that express chimeric antigen receptors, or CARs, seek to harness the power of the immune system to target and eradicate cancers. Our gene-editing technologies allow us to create allogeneic CAR T-cells, meaning they are derived from healthy donors rather than the patients themselves. In addition to our focus on immuno-oncology, we are exploring the use of our gene-editing technologies in other therapeutic applications, as well as through our subsidiary, Calyxt, to develop healthier food products for a growing population.

Accounting principles

12 Months Ended

Dec. 31, 2018

Accounting principles

Note 2. Accounting principles

2.1 Basis for preparation

The Consolidated Financial Statements of Cellectis as of and for the year ended December 31, 2018 were approved by our Board of Directors on March 7, 2019.

Our Consolidated Financial Statements are presented in U.S. dollars. See Note 2.2.

The Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

The Consolidated Financial Statements have been prepared using the historical cost measurement basis except for certain assets and liabilities that are measured at fair value in accordance with IFRS.

IFRS include International Financial Reporting Standards (“IFRS”), International Accounting Standards (“the IAS”), as well as the interpretations issued by the Standards Interpretation Committee (“the SIC”), and the International Financial Reporting Interpretations Committee (“IFRIC”). The significant accounting methods used to prepare the Consolidated Financial Statements are described below.

Application of new or amended standards or new amendments

The following pronouncements and related amendments have been adopted by us from January 1, 2018 but had no significant impact on the Consolidated Financial Statements (see Note 2.3 for discussion of IFRS 15 adoption):

•

IFRS 9 “Financial Instruments” (applicable for periods beginning after January 1, 2018)

•

Amendments to IFRS 2 “Classification and Measurement of Share-based Payment Transactions” (applicable for periods beginning after January 1, 2018)

•

IFRIC 22 “Foreign Currency Transactions and Advance Consideration” (applicable for periods beginning after January 1, 2018)

Standards, interpretations and amendments issued but not yet effective

The following pronouncements and related amendments are applicable for first quarter accounting periods beginning after January 1, 2019. We do not anticipate that the adoption of these pronouncements and amendments will have a material impact on our results of operations, financial position or cash flows.

•

Amendment to IFRS 9 “Financial Instruments – Prepayment Features with Negative Compensation” (applicable for periods beginning after January 1, 2019)

•

IFRIC 23 “Uncertainty over Income Tax Treatments” (applicable for periods beginning after January 1, 2019)

IFRS 16 “Leases” is applicable for annual periods beginning on or after January 1, 2019. The application of this standard will lead Cellectis to recognize in the balance sheet most of our lease commitments, without separation between “operating lease” and “finance lease” contracts. The work related to the first application of this standard, as of January 1, 2019, continued during the year. We identified all lease contracts for the Group and we analyzed the contract substance with the criteria of the new standard (identification of a lease contract, assessment of the duration of the contract, evaluation and determination of discount rate, etc.). On the basis of the modified retrospective method, the main expected impact on the consolidated financial statements is an increase of about $35.0 million - $45.0 million in “right-of-use” assets and an increase in lease liabilities under contracts in which the Group is a lessee and currently identified as “operating lease” contracts. These contracts mainly include office buildings, laboratories, production facilities and storage facilities. Commitments related to these contracts are currently presented as off-balance sheet commitments (see Note 18 Commitments) in “facility lease agreements” which are presented without application of a discount rate. In our statements of consolidated operations, the application of this standard will result in a reduction in rental expenses under “operating leases” and an increase in depreciation and financial expenses.

2.2 Change in the presentation currency of the financial statements

The Consolidated Financial Statements are presented in U.S. dollars, which differs from the functional currency of Cellectis S.A., which is the Euro. We decided to change the reporting currency from Euro to U.S. dollars in the third quarter of 2017, using the retrospective method. We believe that this change will enhance comparability with peers, which primarily present their financial statements in U.S. dollars.

The effects of the change in presentation currency on the comparative consolidated financial statements are as follows:

•

The various items of assets and liabilities in dollars correspond to the amounts published in euros converted at the European Central Bank’s (“ECB”) daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period. The same methodology is applied for total equity. As a result, the change in the presentation currency of the consolidated financial statements has no effect on the various items of assets and liabilities in dollars, or on total equity. Equity transactions that occurred in 2015 and 2016 are converted at the historical exchange rates instead of the exchange rates at the end of the period. Net loss for 2015 and 2016 is converted at the average exchange rate for the respective period. The offsetting impact of these are included in currency translation adjustment.

•

The recalculation of translation adjustments has an effect on the allocation of total equity for the comparative periods presented between currency translation adjustments and other components of shareholders’ equity and the amount of other comprehensive income (loss), such as indicated in the following tables:


As of December 31, 2016	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments (b)			Consolidated financial statement ($ in thousand)
Total non-current assets		17,963			18,935			—			18,935
Total current assets		296,459			312,497			—			312,497

TOTAL ASSETS		314,422			331,432			—			331,432

Shareholders’ equity
Capital		1,767			1,862			470			2,332
Premiums, Retained earnings (deficit) and Net income (loss)		254,834			268,622			24,432			293,054
Treasury share reserve		(307	)		(324	)		(92	)		(416	)
Currency translation adjustment		2,501			2,636			(24,810	)		(22,174	)

Total shareholders’ equity - Group Share		258,795			272,795			—			272,795

Non-controlling interests		1,779			1,875			—			1,875
Total shareholders’ equity		260,574			274,671			—			274,671
Total non-current liabilities		560			590			—			590
Total current liabilities		53,288			56,171			—			56,171

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		314,422			331,432			—			331,432

(a)	Converted at the ECB’s closing daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period, i.e., 0.94867 euro for 1 dollar.

(b)	Difference between the historical exchange rates and the ECB’s closing daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period, i.e. 0.94867 euro for 1 dollar.


For the full year ended December 31, 2015	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments		Consolidated financial statement ($ in thousand)
Total revenues and other income		56,385			62,565			—		62,565
Total operating expenses		(84,309	)		(93,549	)		—		(93,549	)
Operating income (loss)		(27,924	)		(30,984	)		—		(30,984	)
Financial gain (loss)		7,550			8,378			—		8,378
Income tax		—			—			—		—
Income (loss) from continuing operations		(20,373	)		(22,606	)		—		(22,606	)
Loss from discontinued operations		—			—			—		—
Net income (loss)		(20,373	)		(22,606	)		—		(22,606	)

(a)	Converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France), i.e 0.90121 euro for 1 dollar in 2015.


For the full year ended December 31, 2016	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments		Consolidated financial statement ($ in thousand)
Total revenues and other income		51,007			56,444			—		56,444
Total operating expenses		(111,824	)		(123,746	)		—		(123,746	)
Operating income (loss)		(60,818	)		(67,302	)		—		(67,302	)
Financial gain (loss)		42			46			—		46
Income tax		—			—			—		—
Income (loss) from continuing operations		(60,776	)		(67,255	)		—		(67,255	)
Loss from discontinued operations		—			—			—		—
Net income (loss)		(60,776	)		(67,255	)		—		(67,255	)

(a)	Converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France), i.e. 0.90366 euro for 1 dollar in 2016.

By convention and for practicability purpose, the differences have been recalculated on a cumulative basis from January 1, 2014 instead of the date of adoption of IFRS.

The amounts shown in the income statements and in the cash flow statements in dollars correspond to the amounts reported in euros converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France).

All financial information (unless indicated otherwise) is presented in thousands of U.S. dollars.

The statements of financial position of consolidated entities having a functional currency different from the U.S. dollar are translated into U.S. dollars at the closing exchange rate (spot exchange rate at the statement of financial position date) and the statements of operations, statements of comprehensive income (loss) and statements of cash flows of such consolidated entities are translated at the average period to date exchange rate. The resulting translation adjustments are included in equity under the caption “Accumulated other comprehensive income (loss)” in the Consolidated Statements of Changes in Shareholders’ Equity.

2.3 IFRS15 application

IFRS 15 “Revenue from Contracts with Customers” establishes a comprehensive framework for determining whether, how much and when revenue is recognized. It replaces existing revenue recognition guidance, including IAS 18 “Revenue”. IFRS 15 is effective for annual reporting periods beginning on or after January 1, 2018.

The different categories of contracts with customers of Cellectis, which have been reviewed are:

•

Collaboration agreements and;

•

Licensing agreements.

Cellectis applies IFRS 15 with effect from January 1, 2018 using the full retrospective method. The application of IFRS 15 led to a deferral of collaboration revenue (specifically milestone payments) from fiscal year 2015 with a negative opening equity adjustment of $1.7 million as of January 1, 2016. Except for this opening equity impact presented below, IFRS 15 has no impact in the financial statements for fiscal years 2016 and 2017.


	January 1^st, 2016 as presented			IFRS 15 restatement			January 1st, 2016 as restated
	$ in thousands
Total non-current assets		7,451			—			7,451

Total current assets		363,863			—			363,863

TOTAL ASSETS		371,314			—			371,314

Shareholders’ equity								—
Share capital		2,323			—			2,323
Premiums related to the share capital		509,938			—			509,938
Treasury share reserve		(279	)		—			(279	)
Currency translation adjustment		(17,853	)		34			(17,819	)
Retained earnings (deficit)		(185,120	)		—			(185,120	)
Net income (loss)		(22,796	)		(1,775	)		(24,571	)

Total shareholders’ equity - Group Share		286,212			(1,742	)		284,471
Non-controlling interests		789			—			789

Total shareholders’ equity		287,002			(1,742	)		285,260

Total non-current liabilities		548			—			548

Current liabilities								—
Current financial liabilities		2,091			—			2,091
Trade payables		7,197			—			7,197
Deferred revenues and contract liabilities		59,615			1,742			61,357
Current provisions		1,038			—			1,038
Other current liabilities		13,823			—			13,823

Total current liabilities		83,765			1,742			85,506

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		371,314			—			371,314


	December 31, 2016 as presented			IFRS 15 restatement			December 31, 2016 as restated
				$ in thousands
Total non-current assets		18,935			—			18,935

Total current assets		312,498			—			312,498

TOTAL ASSETS		331,432			—			331,432

Shareholders’ equity								—
Share capital		2,332			—			2,332
Premiums related to the share capital		568,185			—			568,185
Treasury share reserve		(416	)		—			(416	)
Currency translation adjustment		(22,174	)		89			(22,085	)
Retained earnings (deficit)		(207,875	)		(1,775	)		(209,650	)
Net income (loss)		(67,255	)		—			(67,255	)

Total shareholders’ equity - Group Share		272,795			(1,686	)		271,109
Non-controlling interests		1,876			—			1,876

Total shareholders’ equity		274,671			(1,686	)		272,985

Total non-current liabilities		590			—			590

Current liabilities								—
Current financial liabilities		1,730			—			1,730
Trade payables		9,722			—			9,722
Deferred revenues and contract liabilities		38,929			1,686			40,615
Current provisions		594			—			594
Other current liabilities		5,196			—			5,196

Total current liabilities		56,171			1,686			57,857

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		331,432			—			331,432


	December 31, 2017 as presented			IFRS 15 restatement			December 31, 2017 as restated
	$ in thousands
Total non-current assets		9,661			—			9,661

Total current assets		323,221			—			323,221

TOTAL ASSETS		332,882			—			332,882

Shareholders’ equity								—
Share capital		2,367			—			2,367
Premiums related to the share capital		614,037			—			614,037
Treasury share reserve		(297	)		—			(297	)
Currency translation adjustment		1,978			(144	)		1,834
Retained earnings (deficit)		(251,927	)		(1,775	)		(253,702	)
Net income (loss)		(99,368	)		—			(99,368	)

Total shareholders’ equity - Group Share		266,791			(1,919	)		264,873
Non-controlling interests		19,113			—			19,113

Total shareholders’ equity		285,904			(1,919	)		283,985

Total non-current liabilities		3,443			—			3,443

Current liabilities								—
Current financial liabilities		21			—			21
Trade payables		9,460			—			9,460
Deferred revenues and contract liabilities		26,056			1,919			27,975
Current provisions		1,427			—			1,427
Other current liabilities		6,570			—			6,570

Total current liabilities		43,534			1,919			45,453

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		332,882			—			332,882

Share Capital
Ordinary Shares

Equity

$ in thousands

Number of
shares

Amount

Premiums
related to
share capital

Treasury
shares
reserve

Currency
translation
adjustment

Retained
earnings
(deficit)

Income
(Loss)

attributable
to
shareholders
of Cellectis

Non
controlling
interests

Total
Shareholders’
Equity

As of January 1, 2016, as presented

35,178,614

2,323

509,938

(279

)

(17,853

)

(185,120

)

(22,796

)

286,212

789

287,002

IFRS 15 restatement

—

(1,775

)

(1,742

)

—

(1,742

)

As of January 1, 2016, as restated

35,178,614

2,323

509,938

(279

)

(17,819

)

(185,120

)

(24,571

)

284,471

789

285,260

Share Capital
Ordinary Shares

Equity

$ in thousands

Number of
shares

Amount

Premiums
related to
share capital

Treasury
shares
reserve

Currency
translation
adjustment

Retained
earnings
(deficit)

Income
(Loss)

attributable
to
shareholders
of Cellectis

Non
controlling
interests

Total
Shareholders’
Equity

As of January 1, 2017, as presented

35,335,060

2,332

568,185

(416

)

(22,174

)

(207,875

)

(67,255

)

272,795

1,876

274,671

IFRS 15 restatement

—

(1,775

)

—

(1,686

)

—

(1,686

)

As of January 1, 2017, as restated

35,335,060

2,332

568,185

(416

)

(22,085

)

(209,651

)

(67,255

)

271,109

1,876

272,984

Share Capital
Ordinary Shares

Equity

$ in thousands

Number of
shares

Amount

Premiums
related to
share capital

Treasury
shares
reserve

Currency
translation
adjustment

Retained
earnings
(deficit)

Income
(Loss)

attributable
to
shareholders
of Cellectis

Non
controlling
interests

Total
Shareholders’
Equity

As of January 1, 2018, as presented

35,960,062

2,367

614,037

(297

)

1,978

(251,927

)

(99,368

)

266,791

19,113

285,904

IFRS 15 restatement

—

(143

)

(1,775

)

—

(1,919

)

—

(1,919

)

As of January 1, 2018, as restated

35,960,062

2,367

614,037

(297

)

1,835

(253,702

)

(99,368

)

264,873

19,113

283,986

As of December 31,

IFRS 15

As of December 31,

2016, as presented

restatement

2016, as restated

$ in thousands

Deferred revenues and contract liabilities

38,929

1,686

40,615

Total Deferred revenue and contract liabilities

38,929

1,686

40,615

As of December 31,

IFRS 15

As of December 31,

2017, as presented

restatement

2017, as restated

$ in thousands

Deferred revenues and contract liabilities

26,056

1,919

27,975

Total Deferred revenue and contract liabilities

26,056

1,919

27,975

2.4 Basis of consolidation

Accounting policy

We control all the legal entities included in the consolidation. An investor controls an investee when the investor is exposed to variable returns from its involvement with the investee, and has the ability to affect those returns through its power over the investee. Control requires power, exposure to variability of returns and a linkage between the two.

To have power, the investor needs to have existing rights that give it the current ability to direct the relevant activities that significantly affect the investee’s returns.

In order to ascertain control, potential voting rights which are substantial are taken into consideration.

Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary.

All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full consolidation.

Consolidated entities

For the year ended December 31, 2018, the consolidated group of companies (sometimes referred to as the “Group”) includes Cellectis S.A., Cellectis, Inc. and Calyxt, Inc.

As of December 31, 2018, Cellectis S.A. owns 100% of Cellectis, Inc. and approximately 69.5% of Calyxt’s outstanding shares of common stock. As of December 31, 2017, Cellectis S.A. owned 100% of Cellectis, Inc. and approximately 79.7% of Calyxt’s outstanding shares of common stock.

Until July 25, 2017, Cellectis S.A. fully owned Calyxt, Inc. On July 25, 2017, Calyxt closed its IPO with $64.4 million in gross proceeds to Calyxt from the sale of 8,050,000 shares at $8 per share, including the full exercise of the underwriter’s over-allotment option and Cellectis’ purchase of $20.0 million of shares in the IPO. On May 22, 2018, Calyxt, Inc. completed a follow-on offering of its common stock. Calyxt, Inc. sold an aggregate of 4,057,500 shares of common stock at a price of $15.00 per share, including 457,500 shares of common stock pursuant to the exercise of the underwriters’ option to purchase additional shares. In the aggregate, Calyxt, Inc. received net proceeds from the follow-on offering and exercise of the overallotment option of approximately $57.0 million, after deducting underwriting discounts and commissions of $3.2 million and offering expenses totaling approximately $0.7 million. As part of the follow-on offering, Cellectis SA purchased 550,000 shares of common stock for a value of $8.3 million, the proceeds of which are included in the net proceeds of approximately $57.0 million.

Our 2016 Consolidated Financial Statements include the operations of Cellectis S.A., Cellectis, Inc. and Calyxt, Inc. The two subsidiaries were fully owned by Cellectis S.A. during the year ended December 31, 2016.

Non-controlling interests

Non-controlling shareholders hold a 30.5% interest in Calyxt, Inc. as of December 31, 2018 and a 20.3% interest in Calyxt, Inc. as of December 31, 2017. These non-controlling interests were generated during the initial public offering of Calyxt, Inc. and a follow-on offering as described above.

2.5 Foreign currency

Foreign currency transactions and balances

Significant transactions in foreign currencies are translated into the respective functional currencies at the exchange rates effective at the transaction dates, otherwise the average rate of the previous month is used for non-significant transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate effective at the period end date.

The resulting exchange gains or losses are recorded in the consolidated statements of operations in financial gain (loss).

Foreign currency translation

The assets and liabilities of foreign operations having a functional currency different from the euro are translated into euros at the period end exchange rate. The income and expenses of foreign operations are translated into euros using the average exchange rate for the reporting period.

Gains and losses arising from currency translation are recognized in other comprehensive loss.

Consolidated financial statements are then converted into dollars using the method described in Note 2.2.

The difference in effect of exchange rate changes on cash and cash equivalents between the statements of consolidated operations and consolidated cash flows is mainly explained by the following elements:

•

the differential between the average exchange rate and the period end rates applied to the cash flows of the period;

•

the differential between the opening exchange rates and the period end exchanges rate applied on our opening cash and cash equivalents balance denominated in dollars; and

•

the foreign exchange rate impact of the conversion of the financial statements of our US subsidiaries.

2.6 Use of judgment, estimates and assumptions

The preparation of these consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, including the disclosure of contingent liabilities. Actual amounts may differ from those estimates.

The Group’s exposure to risks and uncertainties is disclosed in Note 7.3: Financial instruments risk management and policies.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the period end date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.

•

Revenue recognition – Note 3.1

•

Share-based payments – Note 15

•

Provisions for risks and charges – Note 17

Information concerning the Group's Consolidated Operations

12 Months Ended

Dec. 31, 2018

Information concerning the Group's Consolidated Operations

Note 3. Information concerning the Group’s Consolidated Operations

3.1 Revenues and other income

Accounting policies

Collaboration agreements and licenses

The new standard IFRS 15 “Revenue from contracts with customers” is of mandatory application since January 1, 2018. Such standard was applied by Cellectis using the full retrospective method. Therefore, we restated 2016 opening balance sheet i.e. January 1, 2016. Please see note 2.3 for more details.

Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which Cellectis expects to be entitled in exchange for transferring goods and services to customers (and it will collect consideration to which it will be entitled). That is, revenue is recognized when Cellectis satisfies a performance obligation by transferring a distinct good or service (or a distinct bundle of goods and or/ services) to a customer, i.e. when the customer obtains control of these goods or services. Since January 1^st, 2016, the application of this standard impacted primarily the milestones recognition from our collaboration contracts.

We enter into research and development collaboration agreements that may consist of non-refundable upfront payments, payments for the sale of rights to technology, milestone payments, royalties and research and development cost reimbursements. In addition, we license our technology to third parties, which may be part of the research and development collaboration agreements.

Non-refundable upfront payments are deferred and recognized as revenue over the period of the collaboration agreement. Sales of technology pursuant to non-cancelable, non-refundable fixed-fee arrangements are recognized when such technology is delivered to the co-contractingparty and our exclusive rights to access the technology have stopped.

Milestone payments represent amounts received from our collaborators, the receipt of which is dependent upon the achievement of certain scientific, regulatory, or commercial milestones. Such payments are considered variable consideration. We recognize milestone payments when it is highly probable that any revenue recognized will not be subsequently reversed. This includes consideration of whether the performance obligation is achieved and may be when the triggering event has occurred, depending on the nature of the triggering event, there are no further contingencies or services to be provided with respect to that event, and the co-contracting party has no right to require refund of payment. The triggering event may be scientific results achieved by us or another party to the arrangement, regulatory approvals, or the marketing of products developed under the arrangement. As a consequence, milestones payments are recognized as a contract liability in our statement of financial position.

Royalty revenues arise from our contractual entitlement to receive a percentage of product sales achieved by co-contracting parties under our license arrangements. As we have no products approved for sale, we have not received any royalty revenue to date. Royalty revenues, if earned, will be recognized at the later of when (1) the subsequent sale or usage occurs; and (2) the performance obligation to which the sales-based or usage-based royalties relates has been satisfied.

Research and development costs reimbursements are recognized with respect to the policy described in section “Sales of products and services” below.

Revenues from technology licenses are recognized ratably over the period of the license agreements.

Sales of products and services

Revenues on sales of products are recognized once the control over the delivered products is transferred to the customer. We also offer research services, which revenue is recognized over time, as the customer receives the benefits of the services.

Research Tax Credit

The main Research Tax Credit from which we benefit is the Crédit d’Impôt Recherche, or “CIR”, which is granted to entities by the French tax authorities in order to encourage them to conduct technical and scientific research. Entities that demonstrate that their research expenditures meet the required CIR criteria receive a tax credit that may be used for the payment of their income tax due for the fiscal year in which the expenditures were incurred, as well as in the next three years. If taxes due are not sufficient to cover the full amount of tax credit at the end of the three-year period, the difference is repaid in cash to the entity by the authorities. If a company meets certain criteria in terms of sales, headcount or assets to be considered a small/middle size company, immediate payment of the Research Tax Credit can be requested. Cellectis S.A., meets such criteria.

We apply for CIR for research expenditures incurred in each fiscal year and recognize the amount claimed in the line item “Other income” in the same fiscal year. Research tax credit is subject to audit of tax authorities. When tax authorities’ payment related to CIR is late, default interests are applied and are recognized in “other income”.

Details of revenues and other income

Revenues by country of origin and other income

For the year ended December 31,

2016

2017

2018

$ in thousands

From France

44,409

24,680

12,495

From USA

399

508

236

Revenues

44,808

25,188

12,731

Research tax credit

10,038

8,327

8,561

Subsidies and other

1,599

201

140

Other income

11,637

8,528

8,701

Total revenues and other income

56,444

33,715

21,432

For the years ended December 31, 2018, 2017 and 2016, the revenue from France was generated by Cellectis S.A.

For the years ended December 31, 2018, 2017 and 2016, the revenue from USA was generated by Calyxt, Inc.

Revenues by nature


	For the year ended December 31,
	2016		2017		2018
	$ in thousands
Recognition of previously deferred upfront payments		20,856		14,875		7,114
Other revenues		21,035		7,945		3,383

Collaboration agreements		41,891		22,821		10,497

Licenses		2,771		2,270		2,142
Products & services		145		97		92

Total revenues		44,808		25,188		12,731

Revenues are primarily generated by therapeutics activities, which are mainly attributable to our entering into two major collaboration agreements signed with Pfizer Inc. and Les Laboratoires Servier during 2014. Effective as of April 2018, Pfizer sold certain assets to which the Research Collaboration and License Agreement relates to Allogene Therapeutics, Inc. (“Allogene”) (the “Asset Contribution Agreement”). As part of this Asset Contribution Agreement, Pfizer assigned the Research Collaboration and License Agreement to Allogene. The revenues of plants activities are generated by technology licenses and amounted to $0.6 million, $0.5 million and $0.3 million for years ended December 31, 2016, 2017 and 2018, respectively.

Entity-wide disclosures:

In 2018, two clients represent more than 10% of the total revenue: Client A with 55% and Client B with 21%.

In 2017, two clients represent more than 10% of the total revenue: Client A with 11% and Client B with 69%.

In 2016, two clients represent more than 10% of the total revenue: Client A with 37% and Client B with 57%.

3.2 Operating expenses

Accounting policies

Royalty expenses correspond to costs from license agreements that we entered into to obtain access to technology that we use in our product development efforts. Depending on the contractual provisions, expenses are based either on a percentage of revenue generated by using the patents or on fixed annual royalties.

Research and development expenses include employee-related costs, laboratory consumables, materials supplies and facility costs, as well as fees paid to non-employees and entities to conduct research and development activities on our behalf. They also include expenses associated with obtaining patents. The costs associated with manufacturing of product candidates are recorded depending on the use of the material. If products are not intended to be used in clinical studies, we recognize the expense when the product is delivered. If they are intended to be used for clinical studies, the expense is recognized when the certificate of compliance is obtained.

Selling, general and administrative expenses consist primarily of employee-related expenses for executive, business development, intellectual property, finance, legal and human resource functions. Administrative expenses also include facility-related costs and service fees, other professional services, recruiting fees and expenses associated with maintaining patents.

We classify a portion of personnel and other costs related to information technology, human resources, business development, legal, intellectual property and general management in research and development expenses based on the time that each employee or person spent contributing to research and development activities versus sales, general and administrative activities.

Details of operating expenses by nature


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Royalty expenses		(1,777	)		(2,620	)		(2,739	)

	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Research and development expenses
Wages and salaries		(11,924	)		(12,986	)		(16,452	)
Social charges on free shares and stock option grants		(3,851	)		(1,088	)		(99	)
Non-cash stock based compensation expense		(33,207	)		(23,832	)		(18,057	)

Personnel expenses		(48,982	)		(37,906	)		(34,608	)

Purchases and external expenses		(27,720	)		(38,458	)		(40,458	)
Other		(1,756	)		(2,863	)		(1,501	)

Total research and development expenses		(78,458	)		(79,227	)		(76,567	)


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Selling, general and administrative expenses
Wages and salaries		(4,978	)		(7,019	)		(11,373	)
Social charges on free shares and stock option grants		(3,130	)		(881	)		(29	)
Non-cash stock based compensation expense		(25,415	)		(26,586	)		(19,161	)

Personnel expenses		(33,523	)		(34,486	)		(30,563	)

Purchases and external expenses		(8,854	)		(9,138	)		(14,251	)
Other		(1,035	)		(1,126	)		(2,433	)

Total selling, general and administrative expenses		(43,413	)		(44,750	)		(47,248	)


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Personnel expenses
Wages and salaries		(16,902	)		(20,005	)		(27,825	)
Social charges on free shares and stock option grants		(6,981	)		(1,969	)		(128	)
Non-cash stock based compensation expense		(58,622	)		(50,418	)		(37,218	)

Total personnel expenses		(82,505	)		(72,392	)		(65,171	)

3.3 Financial income and expenses

Accounting policies

Financial income and financial expense include, in particular, the following:

•

Interest income from savings accounts and fixed term bank deposits;

•

Interest expense from financial leases;

•

Foreign exchange gain (loss) from transactions in foreign currencies; and

•

Other financial income and expenses, mainly derived from fair value adjustments related to our financial assets and derivative instruments.

Details of financial income and expenses


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Interest income		1,630			1,974			6,787
Foreign exchange gain		4,832			1,185			13,597
Other financial revenues		689			4,102			188

Total financial revenues		7,147			7,262			20,572

Interest expenses		—			—			(39	)
Interest expenses for finance lease		(7	)		(4	)		(7	)
Foreign exchange loss		(4,201	)		(17,734	)		(3,090	)
Other financial expenses		(2,895	)		(556	)		(677	)

Total financial expenses		(7,101	)		(18,294	)		(3,813	)

Total		46			(11,032	)		16,758

The increase in financial income and expenses between 2017 and 2018 of $27.8 million was mainly attributable to the increase in net foreign exchange gain ($27.0 million), the increase in interest income ($4.8 million) partly offset by the decrease of foreign exchange derivatives fair value adjustment ($4.0 million), included in other financial revenues and expenses.

The decrease in financial income and expenses between 2016 and 2017 of $11.1 million was mainly attributable to the increase in net foreign exchange loss ($17.2 million), partly offset by the increase of foreign exchange derivatives fair value adjustment ($5.8 million), the increase in interest income ($0.3 million) and other immaterial variances.

3.4 Income tax

Accounting policies

Income tax (expense or income) comprises current tax expense (income) and deferred tax expense (income).

Deferred taxes are recognized for all the temporary differences arising from the difference between the tax basis and the accounting basis of assets and liabilities. Tax losses that can be carried forward or backward may also be recognized as deferred tax assets. Tax rates that have been enacted as of the closing date are utilized to determine deferred tax. Deferred tax assets are recognized only to the extent that it is likely that future profits will be sufficient to recover them. We have not recorded deferred tax assets or liabilities in the statements of financial position.

Tax proof


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Income (loss) before taxes from continuing operations		(67,255	)		(103,683	)		(88,333	)
Theoretical group tax rate		34.43	%		34.43	%		23.66	%

Theoretical tax benefit (expense)		23,156			35,698			20,901

Increase/decrease in tax benefit arising from:
Permanent differences		124			293			832
Research tax credit		3,082			2,926			2,079
Share-based compensation & other IFRS adjustments		(20,184	)		(8,297	)		(8,065	)

Non recognition of deferred tax assets related to tax losses and temporary differences		(6,158	)		(30,713	)		(15,652	)

Other differences		(20	)		92			(95	)

Effective tax expense		—			—			—

Effective tax rate		0.00	%		0.00	%		0.00	%

On December 22, 2017 the President of the United States signed The Tax Cuts and Jobs Act (“the Act”) into law. We considered the impact the tax reform has on our US subsidiaries’ tax obligations and its deferred tax assets and liabilities. Since its inception, our US subsidiaries have had losses and it expects to continue to have losses in the future. As a result, our US subsidiaries have not had taxable income. The deferred income tax assets and liabilities are recognized for the differences between the financial statement and income tax reporting basis of assets and liabilities based on currently enacted rates and laws. Historically, our US subsidiaries used the Federal statutory rate of 34% to estimate the benefit of the deferred tax asset and going forward they expect to use a lower rate of 21% passed in the Act.

In France, the income tax rate we anticipate to use our tax loss carryforwards is 25% based on the 2018 French Finance Act.

We provide for a valuation allowance when it is more likely than not that we will not realize a portion of the deferred tax assets. Historically we have established a full valuation allowance for deferred tax assets due to the uncertainty that enough taxable income will be generated in the taxing jurisdiction to utilize the assets. Therefore, we have not reflected any benefit of such deferred tax assets in the accompanying financial statements. Going forward, with the lower tax rate enacted in the Act, the ability to utilize the deferred tax asset becomes even less probable. We do not expect the passing of the Act to have material impact on our financial statements, as all net deferred tax assets are fully reserved.

Deferred tax assets and liabilities


	As of December 31,
	2016			2017			2018
	$ in thousands
Credits and net operating loss carryforwards		41,985			51,640			65,555
Pension commitments		193			548			569
Leases		(54	)		(12	)		(4	)
Impairment of assets		14			10			10
Revenue recognition		—			—			200
Other		894			604			491
Valuation allowance on deferred tax assets		(43,032	)		(52,790	)		(66,823	)

Total		—			—			—

We have cumulative tax loss carryforwards for the French entity of the Group totaling $186 million as of December 31, 2018, $144 million as of December 31, 2017 and $87 million as of December 31, 2016. Such carryforwards can be offset against future taxable profit within a limit of $1.0 million per year, plus 50% of the profit exceeding this limit. Remaining unused losses will continue to be carried forward indefinitely.

The cumulative tax loss carryforwards for the U.S. entities of the Group totaled $86 million as of December 31, 2018, $62 million as of December 31, 2017 and $42 million as of December 31, 2016. The carryforward periods are as follows: $32.0 million do not expire; while other expire in 2032 or after.

3.5 Reportable segments

Accounting policies

Reportable segments are identified as components of the Group that have discrete financial information available for evaluation by the Chief Operating Decision Maker (“CODM”), for purposes of performance assessment and resource allocation.

Cellectis’ CODM is composed of:

•

The Chairman and Chief Executive Officer;

•

The Chief Operating Officer;

•

The Executive Vice President Technical Operations;

•

The Chief Scientific Officer;

•

The Chief Financial Officer;

•

The General Counsel;

•

The Senior Vice President Research and Development (until February 7, 2019);

•

The Chief Medical Officer (until February 28, 2019);

•

The Chief Regulatory & Compliance Officer.

We view our operations and manage our business in two operating and reportable segments that are engaged in the following activities:

•

Therapeutics: This segment is focused on the development (i) of products in the field of immuno-oncology and (ii) of novel therapies outside immuno-oncology to treat other human diseases. This approach is based on our gene editing and Chimeric Antigen Receptors (“CARs”) technologies. All these activities are supported by Cellectis S.A. and Cellectis, Inc. The operations of Cellectis S.A., the parent company, are presented entirely in the Therapeutics segment which also comprises research and development, management and support functions.

•

Plants: This segment is focused on creating healthier specialty food ingredients and agriculturally advantageous food crops through the use of gene editing technology for plants. It corresponds to the activity of our U.S.-based majority-owned subsidiary, Calyxt, Inc., which is currently based in Roseville, Minnesota.

There are inter-segment transactions between the two reportable segments, including allocation of corporate general and administrative expenses by Cellectis S.A. and allocation of research and development expenses to the reportable segments.

With respect to corporate general and administrative expenses, Cellectis S.A. provides Calyxt, Inc. with general sales and administrative functions, accounting and finance functions, investor relations, intellectual property, legal advice, human resources, communication and information technology pursuant to a management agreement. Under the management agreement, Cellectis S.A. charges Calyxt, Inc. in euros at cost plus a mark-upranging between zero to 10%, depending on the nature of the service. Amounts due to Cellectis S.A. pursuant to inter-segment transactions bear interest at a rate of the 12-month Euribor plus 5% per annum.

The intersegment revenues represent the transactions between segments. Intra-segment transactions are eliminated within a segment’s results and intersegment transactions are eliminated in consolidation as well as in key performance indicators by reportable segment.

Information related to each reportable segment is set out below. Segment revenues and other income, Research and development expenses, Selling, general and administrative expenses, and Royalties and other operating income and expenses, and Adjusted net income (loss) attributable to shareholders of Cellectis (which does not include non-cash stock-based compensation expense) are used by the CODM for purposes of making decisions about allocating resources to the segments and assessing their performance. The CODM does not review any asset or liability information by segment or by region.

Adjusted Net Income (Loss) attributable to shareholders of Cellectis S.A. is not a measure calculated in accordance with IFRS. Because Adjusted Net Income (Loss) attributable to shareholders of Cellectis excludes Non-cash stock based compensation expense—a non-cash expense, our management believes that this financial measure, when considered together with our IFRS financial statements, can enhance an overall understanding of Cellectis’ financial performance. Moreover, our management views the Company’s operations, and manages its business, based, in part, on this financial measure.

The net income (loss) includes the impact of the operations between segments while the intra-segment operations are eliminated.

Details of key performance indicators by reportable segment


	For the year ended December 31, 2016									For the year ended December 31, 2017									For the year ended December 31, 2018
$ in thousands	Plants			Therapeutics			Total reportable segments			Plants			Therapeutics			Total reportable segments			Plants			Therapeutics			Total reportable segments
External revenues		399			44,409			44,808			508			24,680			25,188			236			12,495			12,731
External other income		186			11,450			11,637			239			8,290			8,528			178			8,523			8,701

External revenues and other income		585			55,859			56,444			747			32,969			33,715			414			21,018			21,432

Royalty expenses		(468	)		(1,309	)		(1,777	)		(390	)		(2,230	)		(2,620	)		(595	)		(2,144	)		(2,739	)
Research and development expenses		(4,112	)		(74,345	)		(78,458	)		(6,057	)		(73,170	)		(79,227	)		(8,638	)		(67,929	)		(76,567	)
Selling, general and administrative expenses		(4,809	)		(38,603	)		(43,413	)		(13,143	)		(31,607	)		(44,750	)		(21,067	)		(26,180	)		(47,248	)
Other operating income and expenses		(6	)		(93	)		(99	)		6			225			232			(50	)		81			31

Total operating expenses		(9,395	)		(114,351	)		(123,746	)		(19,584	)		(106,782	)		(126,366	)		(30,351	)		(96,172	)		(126,523	)

Operating income (loss) before tax		(8,810	)		(58,492	)		(67,302	)		(18,837	)		(73,813	)		(92,650	)		(29,937	)		(75,154	)		(105,091	)

Financial gain (loss)		87			(41	)		46			—			(11,032	)		(11,032	)		1,420			15,339			16,758

Net income (loss)		(8,722	)		(58,533	)		(67,255	)		(18,837	)		(84,846	)		(103,683	)		(28,517	)		(59,816	)		(88,333	)

Net income (loss) from discontinued operations		—			—			—			—			—			—			—			—			—
Non controlling interests		—			—			—			4,315			—			4,315			9,640			—			9,640

Net income (loss) attributable to shareholders of Cellectis		(8,722	)		(58,533	)		(67,255	)		(14,522	)		(84,846	)		(99,368	)		(18,877	)		(59,816	)		(78,693	)

R&D non-cash stock-based expense attributable to shareholder of Cellectis		477			32,731			33,208			967			22,623			23,590			838			16,852			17,689
SG&A non-cash stock-based expense attributable to shareholder of Cellectis		621			24,793			25,414			4,990			20,345			25,335			5,218			11,655			16,873

Adjustment of share-based compensation attributable to shareholders of Cellectis		1,098			57,524			58,622			5,957			42,967			48,924			6,056			28,507			34,563

Adjusted net income (loss) attributable to shareholders of Cellectis		(7,625	)		(1,009	)		(8,633	)		(8,565	)		(41,877	)		(50,443	)		(12,821	)		(31,309	)		(44,130	)

Depreciation and amortization		(345	)		(1,866	)		(2,211	)		(551	)		(2,820	)		(3,371	)		(637	)		(1,740	)		(2,377	)
Additions to tangible and intangible assets		10,410			4,164			14,573			792			1,849			2,642			1,871			3,040			4,911
Impairment of tangible assets		—			—			—			—			(798	)		(798	)		—			—			—

Reconciliation of Plant result of operations

The tables below present a reconciliation between the Plant segment figures that are prepared in accordance with IFRS for the Group with Calyxt, Inc. stand alone financial statements which are prepared in accordance with US GAAP for the domestic registration.

Reconciliation of Plant Segment result of operations for the year ended December 31, 2018


$ in thousands	For the full year ended December 31, 2018
$ in thousands	Cellectis Consolidated financial statements Reportable segments note (IFRS)			Non-cash stock-based compensation booked in IFRS (1)		Non-cash stock-based compensation in US GAAP (1)			Intersegment transactions (2)			Reclassifications (3)			Other (4)			Calyxt Stand alone financial statements (US GAAP)
External revenues and other income		414			—		—			—			(177	)		—			236

Research and development expenses		(8,638	)		1,205		(630	)		—			(1,783	)		—			(9,846	)
Selling, general and administrative expenses		(21,067	)		7,506		(3,756	)		(3,090	)		1,245			657			(18,505	)
Royalties and other operating income and expenses		(645	)		—		—			(71	)		716			—			—

Total operating expenses		(30,350	)		8,711		(4,386	)		(3,161	)		177			657			(28,351	)

Operating income (loss) before tax		(29,937	)		8,711		(4,386	)		(3,161	)		—			657			(28,115	)

Financial gain (loss)		1,420			—		—			51			—			(1,244	)		218

Net income (loss)		(28,517	)		8,711		(4,386	)		(3,110	)		—			(587	)		(27,897	)

Reconciliation of Plant Segment result of operations for the year ended December 31, 2017


$ in thousands	For the full year ended December 31, 2017
$ in thousands	Cellectis Consolidated financial statements Reportable segments note (IFRS)			Calyxt equity award plan IFRS/US GAAP difference : Non cash stock-based compensation (1)		Cellectis and Calyxt equity award IFRS/US GAAP difference : Non cash stock-based compensation (1)			Intersegment transactions (2)			Reclassifications (3)			Other (4)			Calyxt Stand alone financial statements (US GAAP)
External revenues and other income		747			—		—			167			(405	)		(1	)		508

Research and development expenses		(6,057	)		1,134		(6,086	)		—			(563	)		16			(11,556	)
Selling, general and administrative expenses		(13,143	)		6,316		(6,006	)		(2,501	)		436			157			(14,741	)
Royalties and other operating income and expenses		(384	)		—		—			(114	)		504			(7	)		—

Total operating expenses		(19,584	)		7,450		(12,092	)		(2,615	)		378			166			(26,297	)

Operating income (loss) before tax		(18,837	)		7,450		(12,092	)		(2,448	)		(27	)		165			(25,789	)

Financial gain (loss)		—			—		—			(1	)		27			(218	)		(191	)

Net income (loss)		(18,837	)		7,450		(12,092	)		(2,449	)		—			(53	)		(25,980	)

Reconciliation of Plant Segment result of operations for the year ended December 31, 2016


$ in thousands	For the year ended December 31, 2016
$ in thousands	Cellectis Consolidated financial statements Reportable segments note (IFRS)			Calyxt equity award plan IFRS/US GAAP difference : Non cash stock-based compensation (1)		Cellectis equity award IFRS/US GAAP difference : Non cash stock-based compensation (1)			Intersegment transactions (2)			Reclassifications (3)			Other (4)			Calyxt Stand alone financial statements (US GAAP)
External revenues and other income		585			—		—			131			(317	)		—			399

Research and development expenses		(4,112	)		477		(928	)		—			(1,058	)		(17	)		(5,638	)
Selling, general and administrative expenses		(4,809	)		621		(20	)		(3,443	)		945			37			(6,670	)
Royalties and other operating income and expenses		(474	)		—		—			(155	)		430			(1	)		(200	)

Total operating expenses		(9,395	)		1,098		(948	)		(3,598	)		317			19			(12,508	)

Operating income (loss) before tax		(8,810	)		1,098		(948	)		(3,468	)		—			19			(12,109	)

Financial gain (loss)		87			—		—			(64	)		—			(1	)		23

Net income (loss)		(8,722	)		1,098		(948	)		(3,532	)		—			18			(12,086	)

(1)

In IFRS, non-cash stock-based compensation is recorded for stock options and other equity compensation plan awards issued by all entities of the consolidated group. The grant-date fair value of share warrants, employee warrants, stock options and free shares granted to employees is recognized as a payroll expense over the vesting period. In U.S. GAAP, the expenses related to the stock options granted in 2014, 2015 and 2016 under the Calyxt, Inc. Equity Incentive Existing Plan and in 2017 and 2018 under the Omnibus Plan are only incurred upon a triggering event or Initial Public Offering of Calyxt, Inc., as defined by the plan. Accordingly, Plant segment compensation expense was not recognized for Calyxt stock options and other Calyxt equity compensation plan awards in periods prior to the completion of Calyxt’s IPO on July 25, 2017.

Since 2016, Cellectis allocates share-based compensation to the share-related entity (rather than the entity related to the employee that benefited from such compensation), considering that the share-based compensation is an expense linked to such entity’s performance. Consequently, in the segment disclosure, all share-based compensation based on Cellectis shares have been charged in the Therapeutics segment, even if some Calyxt employees are included in a Cellectis stock-option plan. However, the Cellectis equity award plan non-cash stock-based compensation expenses related to Cellectis stock-option plans have been recorded in the Calyxt stand-alone financial statements prepared under U.S. GAAP.

(2)

Intersegment transactions primarily relate to management fees invoiced by Cellectis to Calyxt. Intersegment transactions are eliminated in the consolidated financial statements as well as in Cellectis’ presentation of key performance indicators by reportable segment. However, intersegment transactions are included in Calyxt’s stand-alone financial statements.

(3)	Reclassifications relate to expenses, which are classified differently under IFRS for Cellectis’ consolidated financials and U.S. GAAP for Calyxt’s stand-alone financial statements.

(4)	Other principally includes the restatement of Calyxt’s sale and lease-back transaction with respect to its Roseville, Minnesota property, which is recorded as a finance lease in U.S. GAAP and as an operating lease under IFRS.

Impairment tests	12 Months Ended
Impairment tests	Dec. 31, 2018
Text block1 [abstract]
Impairment tests	Note 4. Impairment tests *Accounting policy* Amortizable intangible assets and depreciable tangible assets are tested for impairment when there is an indicator of impairment. Goodwill is tested for impairment at least once a year. Impairment tests involve comparing the carrying amount of cash-generating units with their recoverable amount. The recoverable amount of an asset is the higher of (i) its fair value less costs to sell and (ii) its value in use. If the recoverable amount of any asset is below its carrying amount, an impairment loss is recognized to reduce the carrying amount to the recoverable amount. Our cash-generating units (“CGUs”) correspond to the operating/reportable segments: Therapeutics and Plants. *Results of impairment test* No indicator of impairment has been identified for any intangible or tangible assets in either of the CGUs for the years ended December 31, 2016 or 2018. In 2017, as we had the willingness to discontinue the lease of the facility in Montvale, New Jersey (USA), we recorded a $0.8 million tangible assets impairment.

Intangible assets

12 Months Ended

Dec. 31, 2018

Intangible assets

Note 5. Intangible assets

Accounting policy

Capitalization of development expenses

In accordance with IAS 38 Intangible Assets, development expenses are recorded as intangible assets only if all the following criteria are met:

•

technical feasibility necessary for the completion of the development project;

•

intention on our part to complete the project and to utilize it;

•

capacity to utilize the intangible asset;

•

proof of the probability of future economic benefits associated with the asset;

•

availability of the technical, financial, and other resources for completing the project; and

•

reliable evaluation of the development expenses.

Other intangible assets

The other intangible assets we acquired with definite useful lives are recognized at cost less accumulated amortization and impairment. Amortization expense is recorded on a straight-line basis over the estimated useful lives of the intangible assets, in the line Research and Development expenses or Selling, general and administrative expenses of the Statement of Consolidated Operations, depending on the use of the related asset.

The estimated useful lives are as follows:

•

Software: from 1 year to 3 years;

•

Patents: amortized from acquisition until legal protection expires, maximum of 20 years.

Details of intangible assets


$ in thousands	Software and Patents			Assets under construction			Total
Net book value as of January 1, 2016		1,041			—			1,041

Change in scope		—			—			—
Additions to intangible assets		212			439			652
Disposal of intangible assets		(74	)		—			(74	)
Depreciation expense		(226	)		—			(226	)
Translation adjustments		(28	)		(21	)		(49	)

Net book value as of December 31, 2016		924			419			1,343

Gross value at end of period		2,256			419			2,675
Accumulated depreciation and impairment at end of period		(1,332	)		—			(1,332	)
Net book value as of January 1, 2017		924			419			1,343

Additions to intangible assets		6			135			141
Depreciation expense		(231	)		—			(231	)
Translation adjustments		112			66			178

Net book value as of December 31, 2017		811			619			1,431

Gross value at end of period		2,571			517			3,190
Accumulated depreciation and impairment at end of period		(1,759	)		—			(1,759	)
Net book value as of January 1, 2018		811			619			1,431

Additions to intangible assets		14			103			117
Disposal of intangible assets		(7	)		—			(7	)
Reclassification		6			—			6
Depreciation expense		(217	)		—			(217	)
Translation adjustments		(30	)		(31	)		(61	)

Net book value as of December 31, 2018		577			691			1,268

Gross value at end of period		2,454			691			3,146
Accumulated depreciation and impairment at end of period		(1,878	)		—			(1,878	)

Intangible assets mainly consist of electroporation technology patents acquired in 2011. The 2016, 2017 and 2018 additions in intangible assets under construction corresponds to the internal development of existing technology.

Property, plant and equipment

12 Months Ended

Dec. 31, 2018

Property, plant and equipment

Note 6. Property, plant and equipment

Accounting policy

Property, plant and equipment are recognized at acquisition cost less accumulated depreciation and any impairment losses. Acquisition costs include expenditures that are directly attributable to the acquisition of the asset and costs to ready it for use.

Depreciation is expensed on a straight-line basis over the estimated useful lives of the assets. If components of property, plant and equipment have different useful lives, they are accounted for separately.

The estimated useful lives are as follows:

•

Buildings and other outside improvements 10-20 years

•

Leasehold improvements 5-10 years

•

Office furniture 10 years

•

Laboratory equipment 3-10 years

•

Office equipment 5 years

•

IT equipment 3 years

Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.

Any gain or loss on disposal of an item of property, plants and equipment is determined by comparing the proceeds from disposal with the carrying amount of the item. The net amount is recognized in the statement of consolidated operations under the line item “Other operating income and expenses.”

Payments made under operating leases are expensed on a straight-line basis over the term of the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the term of the lease.

If, according to the terms of a lease, it appears that substantially all the risks and rewards incidental to ownership are transferred from the lessor to the lessee, the associated leased assets are initially recognized as an asset at the lower of their fair value and the present value of the minimum lease payments and subsequently depreciated or impaired, as necessary. The associated financial obligations are reported in the line item “non-current financial debt” and “current financial debt.”

Details of property, plant and equipment


	Lands and Buildings			Technical equipment			Fixtures, fittings and other equipment			Assets under construction			Total
	$ in thousands
Net book value as of January 1, 2016		2,072			2,897			340			182			5,490

Additions to tangible assets		11,164			1,076			562			902			13,704
Disposal of tangible assets		—			(3	)		(1	)		(183	)		(186	)
Depreciation expense		(741	)		(1,077	)		(167	)		—			(1,986	)
Reclassification		—			3			(3	)		—			—
Translation adjustments		(59	)		(38	)		(23	)		(4	)		(122	)

Net book value as of December 31, 2016		12,436			2,858			707			898			16,900

Gross value at end of period		15,085			10,634			1,104			898			27,721
Accumulated depreciation and impairment at end of period		(2,649	)		(7,775	)		(397	)		—			(10,821	)

Net book value as of January 1, 2017		12,436			2,858			707			898			16,900

Additions to tangible assets		718			701			203			878			2,501
Disposal of tangible assets		(9,243	)		(103	)		2			(109	)		(9,453	)
Reclassification		14			47			18			(79	)		—
Depreciation expense		(972	)		(1,126	)		(245	)		(798	)		(3,140	)
Translation adjustments		206			127			68			18			418

Net book value as of December 31, 2017		3,159			2,505			753			809			7,226

Gross value at end of period		6,936			12,114			1,447			1,606			22,103
Accumulated depreciation and impairment at end of period		(3,777	)		(9,609	)		(693	)		(798	)		(14,877	)

Net book value as of January 1, 2018		3,159			2,505			753			809			7,226

Additions to tangible assets		879			1,622			1,820			1,942			6,263
Disposal of tangible assets		—			(49	)		(690	)		(426	)		(1,164	)
Reclassification		39			216			793			(1,053	)		(6	)
Depreciation expense		(758	)		(854	)		(478	)		—			(2,091	)
Translation adjustments		(90	)		(46	)		(27	)		(25	)		(188	)

Net book value as of December 31, 2018		3,229			3,393			2,172			1,247			10,041

Gross value at end of period		7,604			13,297			3,215			2,045			26,160
Accumulated depreciation and impairment at end of period		(4,375	)		(9,903	)		(1,043	)		(798	)		(16,119	)

No assets have been pledged as security for financial liabilities. There is no restriction on title of property, plant and equipment, except for assets recognized under finance lease agreements.

In 2017, Calyxt entered into a transaction whereby it sold a certain land and building (with a total net book value of $9.2 million), which was considered a sale under applicable accounting guidance and then entered into an operating lease for this property.

Assets under construction as of December 31, 2018 primarily relates to Cellectis’ new raw material manufacturing facility in Paris ($0.3 million) and new commercial manufacturing facility in the United States ($0.3 million) and the rest relates to the Plants activity.

For the year ended December 31, 2018, we continued our investments in research and development equipment in both the United States of America and France. The addition in tangible assets reflects improvements of Calyxt and Cellectis sites for $2.5 million and other equipment for $1.8 million.

Details of finance lease


	As of December 31,
	2017			2018
	$ in thousands
Gross value		4,448			5,689
Accumulated depreciation		(4,366	)		(4,329	)

Net		82			1,360

The finance leases relate mainly to laboratory equipment and IT equipment.

Financial assets and liabilities

12 Months Ended

Dec. 31, 2018

Financial assets and liabilities

Note 7. Financial assets and liabilities

7.1 Accounting principles

The new standard IFRS 9 “Financial instruments” is of mandatory application since January 1, 2018. Cellectis elected not to restate the 2016 and 2017 comparative periods, as authorized by the standard. Such adoption did not lead to any adjustment recorded in the Group opening equity at January 1, 2018.

IFRS 9 comprises three phases: classification and measurement of financial assets and liabilities, impairment of financial assets and hedge accounting. Cellectis was not affected by the new classification required by the standard to determine the way financial assets are recognized and measured.

Financial assets

Under IFRS 9, Cellectis holds either:

•

financial assets measured at amortized cost or;

•

financial assets measured at fair value through profit or loss.

Non-current financial assets are recorded at the amortized cost and correspond to security deposits mainly relating to our facilities rents.

Current financial assets correspond to investments and are recorded at fair value through profit and loss, which is the nominal value of the investment adjusted with the daily mark-to-market value.

Trade and other receivables are recorded at fair value, which is the nominal value of invoices unless payment terms require a material adjustment for the time value discounting effect at market interest rates. Trade receivables are subsequently measured at amortized cost. A provision for expected credit losses for trade and other receivables is recognized if their recoverable amount is less than their carrying amount. The introduction of a new expected loss model for impairment of financial assets under IFRS 9 had no significant impact on the initial recognition of Cellectis trade and other receivables.

Receivables are classified as current assets, except for those with a maturity exceeding 12 months after the reporting date.

Government grants to Cellectis related to research and development expenses for research programs are recognized as subsidies receivables in the period in which the expenses subject to the subsidy have been incurred, provided there is a reasonable assurance that we will comply with conditions attached to the subsidy and that the subsidy will be received.

Financial liabilities

The application of IFRS 9 has no impact on the Cellectis’ accounting policy regarding financial liabilities.

Financial liabilities include trade and other payables, finance leases and conditional advances.

We initially recognize financial liabilities on the transaction date, which is the date that we become a party to the contractual provisions of the instrument.

We derecognize financial liabilities when our contractual obligations are discharged, canceled or expire.

Financial liabilities are valued at amortized cost. The amount of interest recognized in financial expenses is calculated by applying the financial liability’s effective interest rate to its carrying amount. Any difference between the expense calculated using the effective interest rate and the actual interest payment impacts the value at which the financial liability is recognized.

Liabilities for short term employee benefits are included in financial liabilities. They are recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if we have a present legal or constructive obligation to pay the amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

7.2 Detail of financial assets and liabilities

The following table shows the carrying amounts and fair values of financial assets and financial liabilities.


	Accounting category				Book value on the statement of financial position		Fair Value
2017	Fair value through profit and loss		Amortized cost				Fair Value
	$ in thousands
Financial assets
Non-current financial assets		—		1,004		1,004		1,004
Trade receivables		—		2,753		2,753		2,753
Subsidies receivables		—		9,524		9,524		9,524
Current financial assets		40,602		—		40,602		40,602
Cash and cash equivalents		256,380		—		256,380		256,380

Total financial assets		296,982		13,281		310,263		310,263

Financial liabilities
Non-current financial liabilities		—		13		13		13
Current financial liabilities		—		21		21		21
Trade payables		—		9,460		9,460		9,460
Other current liabilities		—		6,570		6,570		6,570

Total financial liabilities		—		16,064		16,064		16,064


	Accounting category				Book value on the statement of financial position		Fair Value
2018	Fair value through profit and loss		Amortized cost				Fair Value
	$ in thousands
Financial assets
Non-current financial assets		—		1,891		1,891		1,891
Trade receivables		—		2,971		2,971		2,971
Subsidies receivables		—		17,173		17,173		17,173
Current financial assets		7		381		388		388
Cash and cash equivalents		451,501		—		451,501		451,501

Total financial assets		451,508		22,416		473,924		473,924

Financial liabilities
Non-current financial liabilities		—		1,018		1,018		1,018
Current financial liabilities		—		333		333		333
Trade payables		—		15,883		15,883		15,883
Other current liabilities		—		8,369		8,369		8,369

Total financial liabilities		—		25,603		25,603		25,603

7.3. Financial risks management

We have exposure to the following risks arising from financial instruments:

Foreign exchange risk

A portion of our revenue is generated in currencies other than euro. Although our strategy is to favor the euro as our transaction currency when signing contracts, some agreements have been signed in US dollars (primarily our agreement with Pfizer/Allogene Therapeutics, Inc.).

As of December 31, 2017, 75% of our cash and cash equivalents were denominated in US dollars and 79% of our current financial assets and cash and cash equivalents were denominated in US dollars. As of December 31, 2018, 66% of our cash and cash equivalents were denominated in US dollars.

As of December 31, 2017, we held the following derivative financial instruments, denominated in US dollars:


2017	Notional		Fair Value		Maturity
	$ in thousands
USD forward sale contracts		18,775		558		2018
USD forward purchase contracts		—		—		—

Total derivative financial instruments				558

of which :
Derivative financial assets				558
Derivative financial liabilities				—

Cellectis hedging policy is not affected by the application of IFRS 9.

As of December 31, 2018, we did not hold derivative financial instruments.

We do not apply hedge accounting to these instruments.

Liquidity risk

Our financial debt consists of finance lease liabilities $1.4 million as of December 31, 2018).

We have incurred losses and cumulative negative cash flows from operations since our inception in 2000, and we anticipate that we will continue to incur losses for at least the next several years. As of December 31, 2018, we held $451.5 million in cash and cash equivalents.

Interest rate risk

We seek to engage in prudent management of our cash and cash equivalents, mainly cash on hand and common financial instruments (typically short- and mid-term deposits). Furthermore, the interest rate risk related to cash, cash equivalents and common financial instruments is not significant based on the quality of the financial institutions with which we work.

Credit risk

Credit risk is the risk of our financial loss if a customer or counterparty to a financial instrument defaults on its contract commitments. We are exposed to credit risk due to our trade receivables, subsidies receivables and cash equivalents.

Our policy is to manage our risk by dealing with third parties with good credit standards.

Inventories	12 Months Ended
Inventories	Dec. 31, 2018
Text block1 [abstract]
Inventories	Note 8. Inventories *Accounting policy* Inventories are measured at the lower of cost and net realizable value. Cost is determined using the first in first out cost method. *Description of inventories* As of December 31, 2018 and 2017, they consist of $275 thousand and $250 thousand, respectively, in raw materials and laboratory consumables (representing pharmaceutical and chemical products). No provision for impairment has been recorded as of December 31, 2017 and 2018.

Trade receivables and other current assets

12 Months Ended

Dec. 31, 2018

Trade receivables and other current assets

Note 9. Trade receivables and other current assets

Accounting policies for trade receivables and other current assets are described in Note 7.1.

9.1 Trade receivables


	As of December 31,			As of December 31,
	2017			2018
	$ in thousands
Trade receivables		3,079			3,353
Provision for expected credit losses		(326	)		(382	)

Total net value of trade receivables		2,753			2,971

All trade receivables have payment terms of less than one year. The trade receivables are mainly due to collaboration contracts.

9.2 Subsidies receivables


	As of December 31,			As of December 31,
	2017			2018
	$ in thousands
Research tax credit		9,039			16,842
Other subsidies		1,812			1,598
Valuation allowance for other subsidies		(1,326	)		(1,266	)

Total subsidies receivables		9,524			17,173

Research tax credit receivables as of December 31, 2017 include the accrual for a French research tax credit related to 2017 for $8.2 million and the remaining amount mainly relates to refundable tax credits in the United States.

Research tax credit receivables as of December 31, 2018 include the accrual for a French research tax credit related to 2017 for $8.0 million and to 2018 for $7.8 million and the remaining amount mainly relates to refundable tax credits in the United States. During December 2018, the French Tax Authority has initiated an audit related to the 2014, 2015, 2016 and 2017 French research tax credits. We do not believe that a provision should be recorded at this stage of this audit. As a result of such audit, the reimbursement of the French research tax credit related to 2017 is currently pending.

The valuation allowance for other subsidies corresponds to a grant, which was fully reserved in 2014.

9.3 Other current assets


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
VAT receivables		1,543		1,679
Prepaid expenses and other prepayments		8,304		10,985
Tax and social receivables		873		244
Deferred expenses and other current assets		2,993		2,425

Total other current assets		13,713		15,333

Prepaid expenses and other prepayments primarily include advances to our sub-contractors on research and development activities. They mainly relate to advance payments to suppliers of biological raw materials and to third parties participating in product manufacturing.

During 2018, we prepaid certain manufacturing costs related to our product candidates UCART123, UCARTCS1 and UCART22 of which the delivery of products or services is expected in the coming months.

As of December 31, 2018, deferred expenses and other current assets include (i) a deferred expense of $2.1 million related to the sale and lease-back transaction entered into by Calyxt and (ii) other current assets for $0.3 million.

Tax and social receivables as of December 31, 2018 include $0.2 million of social charges on personnel expenses.

During 2017, we prepaid certain manufacturing costs related to our product candidates UCART123, UCARTCS1 and UCART22 of which the delivery of products or services is expected in the coming months.

As of December 31, 2017, deferred expenses and other current assets include (i) a deferred expense of $2.1 million related to the sale and lease-back transaction entered into by Calyxt, (ii) other deferred expenses for $0.6 million, (iii) other current assets for $0.3 million.

Tax and social receivables as of December 31, 2017 include $0.6 million of tax receivables and $0.3 million of social charges on personnel expenses.

Current financial assets and Cash and cash equivalents

12 Months Ended

Dec. 31, 2018

Current financial assets and Cash and cash equivalents

Note 10. Current financial assets and Cash and cash equivalents


As of December 31, 2017	Carrying amount		Unrealized Gains/(Losses)		Estimated fair value
			$ in thousands
Current financial assets		40,602		—		40,602
Cash and cash equivalents		256,380		—		256,380

Current financial assets and cash and cash equivalents		296,982		—		296,982


As of December 31, 2018	Carrying amount		Unrealized Gains/(Losses)		Estimated fair value
			$ in thousands
Current financial assets		388		—		388
Cash and cash equivalents		451,501		—		451,501

Current financial assets and cash and cash equivalents		451,889		—		451,889

10.1 Current financial assets

Accounting policies

Current financial assets include current restricted cash and other current financial assets.

Restricted cash consists of deposits to secure a one-year grain broker license for $50 thousand entered into in July 2018 and also for the furniture and equipment sales lease back for $1,444 thousand. Of $1,444 thousand, we classify $331 thousand as short term restricted cash at December 31, 2018.

Financial assets are measured at fair value through profit or loss in accordance with IAS 39 include the following:

•

Financial assets including embedded derivatives for which Cellectis elected to designate at fair value through profit or loss;

•

Financial assets managed on a fair value basis; and

•

Derivative instruments that are not documented in hedging relationships.

IFRS 13 (Fair Value Measurement) requires counterparty and own credit risk to be taken into account when measuring the fair value of financial instruments. This risk is estimated on the basis of observable, publicly-available statistical data.

Details of current financial assets

Current financial assets are measured at fair value through profit or loss and are classified as follows within the fair value hierarchy:

•

Instruments classified under level 1 are measured with reference to quoted prices in active markets; they consist of notes indexed to equity index. Their nominal value amount to $40.3 million and their fair value amount to $39.7 million as of December 31, 2017.

•

Instruments classified under level 2 are measured with reference to observable valuation inputs; they consist in zero-premium accumulator. Their nominal value amount to $0.6 million and their fair value amount to $0.6 million as of December 31, 2017.

There were no other current financial assets as of December 31, 2018.

10.2 Cash and cash equivalents

Accounting policy

Cash and cash equivalents are held for the purpose of meeting short-term cash commitments rather than for the purpose of investment or for other purposes. They are readily convertible into a known amount of cash and are subject to an insignificant risk of changes in value. Cash and cash equivalents include cash, bank accounts, money market funds and fixed bank deposits that meet the definition of a cash equivalent. Cash equivalents are fair valued at the end of each reporting period.

Details of cash and cash equivalents


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
Cash and bank accounts		219,368		398,178
Money market funds		13,026		13,248
Fixed bank deposits		23,986		40,075

Total cash and cash equivalents		256,380		451,501

Money market funds earn interest and are refundable overnight. Fixed bank deposits have fixed terms that are less than three months or are readily convertible to a known amount of cash.

Financial liabilities

12 Months Ended

Dec. 31, 2018

Financial liabilities

Note 11. Financial liabilities

11.1 Detail of financial liabilities


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
Finance leases		13		1,018

Total non-current financial liabilities		13		1,018

Finance leases		21		333

Total current financial liabilities		21		333

Trade payables		9,460		15,883
Other current liabilities		6,570		8,369

Total Financial liabilities		16,064		25,603

The change in trade payables is mainly due to higher external expenses linked with UCART 123, UCART22, UCARTCS1 and other product candidates’ manufacturing costs.

11.2 Due dates of the financial liabilities


Balance as of December 31, 2018	Gross Amount		Less than One Year		One to Five Years		More than Five Years
	$ in thousands
Finance leases		1,350		333		1,018		—
Derivative instruments		—		—		—		—

Financial liabilities		1,350		333		1,018		—

Trade payables		15,883		15,883		—		—
Other current liabilities		8,369		8,369		—

Total financial liabilities		25,603		24,585		1,018		—

Other current liabilities

12 Months Ended

Dec. 31, 2018

Note 12. Other current liabilities


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
VAT Payables		9		291
Accruals for personnel related expenses		5,982		7,041
Other		579		1,037

Total		6,570		8,369

Accruals for personnel are related to annual bonuses, vacations accruals and social expenses on stock options. The increase in accruals for personnel related expenses between December 31, 2017 and December 31, 2018, is mainly driven by higher accrual for annual bonuses due to the increase of headcount recruited both in the United States and in France.

As of December 31, 2018 “Other” mainly include Board of Directors attendance fees for $0.3 million liabilities and subsidies liabilities for $0.3 million.

As of December 31, 2017 “Other” mainly include subsidies liabilities for $0.3 million and other immaterial variances.

Deferred revenues and contract liabilities

12 Months Ended

Dec. 31, 2018

Note 13. Deferred revenues and contract liabilities

Accounting policies

As disclosed in Note 3, non-refundable upfront payments are deferred and recognized as revenue over the period of the collaboration agreement.

Details of deferred revenues and contract liabilities


	As of December 31, 2017 as restated (*)		As of December 31, 2018
	$ in thousands
Deferred revenues and contract liabilities		27,975		20,454
Other		—		299

Total Deferred revenue and contract liabilities		27,975		20,754

Deferred revenues

The deferred revenues and contract liabilities correspond to upfront payments for the collaboration agreements with Les Laboratoires Servier and Pfizer Inc. The research period under the initial Pfizer/Allogene agreement stopped in June 2018.

Other

As of December 31, 2018, other deferred income corresponds to Tax increment financing related to Calyxt sale and leaseback transaction and recognized over the term of the lease.

Capital

12 Months Ended

Dec. 31, 2018

Note 14. Capital

14.1 Share capital issued

Accounting policy

Share capital comprises ordinary shares and shares with double voting rights classified in equity. Costs directly attributable to the issue of ordinary shares or share options are recognized as a reduction in equity. Repurchased own shares are classified as treasury shares and deducted from equity.

Nature of the Transactions

Share Capital

Share premium

Number of shares

Nominal value

$ in thousands

in $

Balance as of January 1, 2016

2,323

509,938

35,178,614

0.05

Capital increase by issuance of ordinary shares (BSA, BSPCE and free shares)

723

156,446

—

Non-cash stock based compensation expense

—

57,524

—

Balance as of December 31, 2016

2,332

568,185

35,335,060

0.05

Capital Increase

466,950

Exercise of share warrants, employee warrants and stock options

2,921

158,052

Non-cash stock based compensation expense

42,968

Other movements

(37

)

Balance as of December 31, 2017

2,367

614,037

35,960,062

0.05

Capital Increase

379

178,230

6,146,000

Exercise of share warrants, employee warrants and stock options

7,751

324,007

Non-cash stock based compensation expense

28,507

Balance as of December 31, 2018

2,765

828,525

42,430,069

0.05

Capital evolution in 2018

•

During the full year ended December 31, 2018, 6,146,000 ordinary shares were issued upon the closing of a follow-on offering for net proceeds, after deducting underwriting discounts and commissions and offering expenses, of $178,611,687 ; 1,939 ordinary shares were issued upon the exercise of 1,867 employee warrants (“bons de souscription de parts de créateurs”) for total proceeds of $14,112; 322,068 ordinary shares were issued upon the exercise of 322,068 stock options for total proceeds of $7,525,542 and 160,000 non-employees warrants (“bons de souscription d’actions”) were subscribed for total proceeds of $230,629.

Capital evolution in 2017

•

During the full year ended December 31, 2017, 126,179 ordinary shares were issued upon the exercise of 121,492 employee warrants (“bons de souscription de parts de créateurs”) for a total amount of $2,173,058; 466,950 free shares were converted to 466,950 ordinary shares; 31,873 ordinary shares were issued upon the exercise of 31,873 stock options for a total amount of $734,234 and 228,000 non-employees warrants (“bons de souscription d’actions”) were subscribed for a total amount of $252,171.

Capital evolution in 2016

•

During the year ended December 31, 2016, we issued 156,446 ordinary shares resulting from exercise of 50,000 BSA and 6,700 BSPCE and acquisition of 99,488 free shares.

BSA 2011:

On October 28, 2011, using the delegation of authority granted by the General Assembly held the same day, we issued 12,195,113 warrants (Bon de Souscription d’Actions or “BSA”) to the existing shareholders with a ratio of one BSA for one share. October 28, 2014 was the closing date for the exercise of the “BSA 2011.” Pursuant to the terms of the plan, we issued 1,470,836 ordinary shares for gross proceeds of $16.4 million.

Voting rights:

After a shareholder continuously holds ordinary shares for two years, each ordinary share held by such shareholder is entitled to two votes.

•

At December 31, 2018, we had 42,430,069 ordinary shares outstanding of which 5,016,911 had a double voting right.

•

At December 31, 2017, we had 35,960,062 ordinary shares outstanding of which 5,155,335 had a double voting right

•

At December 31, 2016, we had 35,333,060 ordinary shares outstanding of which 4,531,047 had a double voting right.

Otherwise, our ordinary shares are not entitled to any preferential voting right or restriction.

14.2 Share warrants and non-employee warrants

Share warrants and non-employee warrants consist of Bon de Souscription d’Action (“BSAs”) which are granted to our board members and consultants.


Date	Type		Number of options/warrants/ shares oustanding as of 01/01/2018		Number of options/warrants/ shares granted		Number of options/warrants/ shares vested/exercised		Number of options/warrants/ shares voided		Number of options/warrants/ shares oustanding as of 12/31/2018		Maximum of shares to be issued		Number of options/warrants/ shares exercisable as of 12/31/2018
02/28/2008		BSPCE D		1,867		—		1,867		—		—		—		—
07/27/2010		BSPCE E		19,702		—		—		—		19,702		20,464		19,702
05/18/2015		Free shares		15,600		—		—		—		15,600		15,600		—
03/24/2015		Stock Options		1,749,055		—		—		18,409		1,730,646		1,730,646		1,622,458
03/27/2015		BSA		180,000		—		—		50,000		130,000		130,000		130,000
05/18/2015		BSA		50,000		—		—		—		50,000		50,000		50,000
09/08/2015		BSA		274,200		—		—		50,000		224,200		224,200		224,200
09/08/2015		Stock Options		1,802,000		—		—		32,000		1,770,000		1,770,000		1,438,098
03/14/2016		BSA		187,200		—		—		40,175		147,025		147,025		98,017
03/14/2016		Stock Options		1,945,948		—		127,828		32,849		1,785,271		1,785,271		1,192,064
10/28/2016		BSA		148,000		—		—		—		148,000		148,000		98,667
10/28/2016		Stock Options		2,615,601		—		191,740		54,172		2,369,689		2,369,689		1,093,924
10/11/2017		BSA		240,000		—		—		40,000		200,000		200,000		66,667
10/11/2017		Stock Options		1,220,000		—		—		37,500		1,182,500		1,182,500		297,500
10/08/2018		Free shares		—		43,000		—		—		43,000		43,000		—
10/08/2018		Stock Options		—		100,000		—		—		100,000		100,000		—
		Total		10,449,173		143,000		321,435		355,105		9,915,633		9,916,395		6,331,296

Holders of vested stock options and warrants are entitled to subscribe to a capital increase of Cellectis at predetermined exercise price.

•

In 2018, our subsidiary Calyxt Inc. granted stock options and restricted stock unit in Calyxt Inc. representing as of December 31, 2018 a 3.1% interest of that subsidiary if fully exercised to a group of its employees, directors, executive officers and consultants. The compensation expense for 2018 amounted to $3.3 million (see Note 15).

•

In June 2017, our subsidiary Calyxt Inc. granted stock options and restricted stock unit in Calyxt Inc. representing as of December 31, 2017 a 9.8% interest of that subsidiary if fully exercised to a group of its employees, directors and executive officers. The compensation expense for 2017 amounted to $5.2 million (see Note 15);

•

In April 2016, our subsidiary Calyxt Inc. granted options in Calyxt Inc. representing as of December 31, 2017 a 4.9% interest of that subsidiary if fully exercised to a small group of its employees, directors and executive officers. The compensation expense for 2017 amounted to $0.2 million (see Note 15).

14.3 Non-controlling interests

On July 25, 2017, Calyxt closed its IPO with $64.4 million in gross proceeds to Calyxt from the sale of 8,050,000 shares at $8 per share, including the full exercise of the underwriter’s over-allotment option and Cellectis’ purchase of $20.0 million of shares in the IPO. On May 22, 2018, Calyxt Inc completed a follow-on offering of its common stock. Calyxt Inc sold an aggregate of 4,057,500 shares of common stock at a price of $15.00 per share. In the aggregate, Calyxt Inc received net proceeds of approximately $57.0 million, after deducting underwriting discounts and commissions of $3.2 million and offering expenses totaling approximately $0.7 million. As part of the follow-on offering, Cellectis SA purchased 550,000 shares of common stock for a value of $8.3 million, the proceeds of which are included in the net proceeds of approximately $57.0 million. As of December 31, 2018, non-controlling interests represent 30.5% of Calyxt shares.

The following table summarizes the information relating to each of our subsidiaries that reported non-controlling interest (“NCI”):


	CALYXT
	2017			2018
	$ in thousands
Revenue		747			236
Net Profit (Loss)		(18,837	)		(28,517	)

Net Profit (Loss) attributable to NCI		(4,315	)		(9,640	)

Other comprehensive income		(5,856	)		(5,373	)
Total comprehensive income		(24,693	)		(33,891	)

Total comprehensive income attributable to NCI		(4,723	)		(10,330	)

Current assets		59,753			97,735
Non-current assets		2,072			4,539
Current liabilities		3,027			5,460
Non-current liabilities		—			826

Net assets		64,852			95,987

Net assets attributable to NCI		13,145			29,257

14.4 Treasury shares

In 2008, Cellectis executed a liquidity contract with Natixis Securities (“Natixis”). This contract entitles Natixis to transact on Euronext, on our behalf, in order to enhance the liquidity of transactions and regularity of quotation of our ordinary shares, in an independent way, without hindering the functioning of the market or misleading investors.

The initial advance payment made to Natixis Securities for the purpose of making transactions under this contract was $0.4 million. As of December 31, 2017, $0.3 million are classified in treasury shares and the balance is presented in the line item “Other non-current financial assets” in the statements of consolidated financial position.

In 2018, we terminated our liquidity contract.

Share-based payments

12 Months Ended

Dec. 31, 2018

Share-based payments

Note 15. Share-based payments

15.1 Detail of Cellectis equity awards

Holders of vested Cellectis stock options and warrants are entitled to exercise such options and warrants to purchase Cellectis Ordinary shares at a fixed exercise price established at the time of such options and warrants are granted during their useful life.

For stock options and warrants, we estimate the fair value of each option on the grant date or other measurement date if applicable using a Black-Scholes option-pricing model, which requires us to make predictive assumptions regarding future stock price volatility, employee exercise behavior, dividend yield, and the forfeiture rate. We estimate our future stock price volatility based on Cellectis historical closing share prices over the expected term period. Our expected term represents the period of time that options granted are expected to be outstanding determined using the simplified method. The risk-free interest rate for periods during the expected term of the options is based on the French government securities with maturities similar to the expected term of the options in effect at the time of grant. We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, we used an expected dividend yield of zero. Options may be priced at 100 percent or more of the fair market value on the date of grant, and generally vest over four years after the date of grant. Options generally expire within ten years after the date of grant.

Stock Options

The weighted-average fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:


	2016	2017	2018

Weighted-Average fair values of stock options granted	10.53€	14.30€	8.89€
Assumptions:
Risk-free interest rate	0.00% - 0.03%	0.03%	0.13%
Share entitlement per options	1	1	1
Exercise price	17.90€ - 22.44€	22.57€	24.80€
Grant date share fair value	16.42€ - 22.48€	24.01€	17.78€
Expected volatility	62.8% - 63.2%	65.6%	63.3%
Expected term (in years)	6.11 - 6.12	6.12	6.25
Vesting conditions	Service	Service	Service
Vesting period	Graded	Graded	Graded

Information on stock option activity follows:


	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share		Remaining Average Useful Life
Balance as of December 31, 2016		1,355,680		33.75 €		8,436,255			25.43 €		9.09y
Granted		—		—		1,220,000			22.57 €
Exercised		—		—		(31,873	)		20.40 €
Forfeited or Expired		—		—		(291,778	)		22.19 €
Balance as of December 31, 2017		3,822,772		28.02 €		9,332,604			25.17 €		8.31y
Granted		—		—		100,000			24.80 €
Exercised		—		—		(319,568	)		19.72 €
Forfeited or Expired		—		—		(174,930	)		23.68 €
Balance as of December 31, 2018		5,644,044		27.47 €		8,938,106			25.39 €		7.32y

Share-based compensation expense related to stock option awards was $26.0 million in 2018, $36.8 million in 2017, and $45.6 million in 2016.

Warrants

The weighted-average fair values of warrants granted and the assumptions used for the Black-Scholes option pricing model were as follows:


	2016	2017
Weighted-Average fair values of warrants granted	9.33€	13.20€
Assumptions:
Risk-free interest rate	0.00% - 0.04%	0.12%
Share entitlement per options	1	1
Exercise price	18.68€ - 27.37€	24.34€

Grant date share fair value	16.42€ - 22.48€	24.95€

Expected volatility	62.8% - 63.1%	64.7%
Expected term (in years)	6.00	6.00
Vesting conditions	Service	Service
Vesting period	Graded	Graded

Information on warrants activity follows:


	Warrants Exercisable		Weighted- Average Exercise Price Per Share		Warrants Outstanding			Weighted- Average Exercise Price Per Share		Remaining Average Useful Life
Balance as of December 31, 2016		315,928		23.00 €		1,027,261			25.91 €		7.78y
Granted		—		—		240,000			24.34 €
Exercised		—		—		(126,179	)		13.75 €
Forfeited or Expired		—		—		(40,113	)		18.67 €

Balance as of December 31, 2017		469,436		28.80 €		1,100,969			27.23 €		8.20y
Granted		—		—		0			0.00 €
Exercised		—		—		(1,867	)		6.16 €
Forfeited or Expired		—		—		(180,175	)		29.95 €

Balance as of December 31, 2018		687,252		27.74 €		918,927			26.74 €		7.22y

Share-based compensation expense related to warrants awards was $2.3 million in 2018, $3.5 million in 2017, and $4.7 million in 2016.

Free shares

The free shares granted prior to 2018 are subject to a two-year vesting period for French employees and four years for foreign citizens. The free shares granted in 2018 are subject to a one-year vesting period for French employees and two-years for foreign citizens.

Information on free shares activity follows:


	Number of Free shares Outstanding			Weighted- Average Grant Date Fair Value
Unvested balance at December 31, 2016		492,550			27.16 €
Granted		0			0.00 €
Vested		(466,950	)		27.11 €
Cancelled		(10,000	)		28.17 €

Unvested balance at December 31, 2017		15,600			28.17 €
Granted		43,000			17.78 €
Vested		0			0.00 €
Cancelled		0			0.00 €

Unvested balance at December 31, 2018		58,600			20.55 €

The fair value of free shares corresponds to the grant date share fair value.

We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, we used an expected dividend yield of zero.

Share-based compensation expense related to free shares awards was $0.2 million in 2018, $2.6 million in 2017, and $7.3 million in 2016.

15.2 Detail of Calyxt equity awards

Stock Options

The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:


	2016	2017	2018
Weighted-Average fair values of stock options granted	$1.11	$4.00	$9.09
Assumptions:
Risk-free interest rate	1.41%	1.96%	2.45% - 2.89%
Share entitlement per options	1	1	1
Exercise price	$3.59	$13.29	$14.24 - $23.39
Grant date share fair value	$3.59	$13.29	$14.24 - $23.39
Expected volatility	30%	25%	40.86% - 57.22%
Expected term (in years)	5.74	6.57	5.57 - 10.01
Vesting conditions	Service	Service	Service
Vesting period	Graded	Graded	Graded

We estimate the fair value of each option on the grant date or other measurement date if applicable using a Black-Scholes option-pricing model, which requires us to make predictive assumptions regarding future stock price volatility, employee exercise behavior, dividend yield, and the forfeiture rate. We estimate our future stock price volatility using the historical volatility of comparable public companies over the expected term of the option.

Our expected term represents the period of time that options granted are expected to be outstanding determined using the simplified method.

The risk-free interest rate for periods during the expected term of the options is based on the U.S. Treasury zero-coupon yield curve in effect at the time of grant.

We have not nor do we expect to pay dividends for the foreseeable future.

Options may be priced at 100 percent or more of the fair market value on the date of grant, and generally vest over six years after the date of grant. Options generally expire within ten years after the date of grant. Certain awards granted before Calyxt’s IPO contained accelerated vesting provisions if certain events occurred as defined in the option agreement.

Information on stock option activity follows:


	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share		Remaining Average Useful Life
Balance as of December 31, 2016		0	$	0.00		1,931,248		$	4.45		9.10y
Granted		—		—		2,104,999		$	13.29
Exercised		—		—		(68,780	)	$	4.03
Forfeited or Expired		—		—		(84,035	)	$	8.48

Balance as of December 31, 2017		1,244,968	$	5.20		3,883,432		$	9.16		8.84y
Granted		—		—		554,243		$	16.69
Exercised		—		—		(592,342	)	$	4.43
Forfeited or Expired		—		—		(643,446	)	$	12.52

Balance as of December 31, 2018		1,278,038	$	7.45		3,201,887		$	10.67		8.17y

Stock-based compensation expense related to stock option awards was $3.2 million in 2018, $2.8 million in 2017, and $1.1 million in 2016. The options granted under the plans were originally only exercisable upon a triggering event or initial public offering as defined by the plans.

Restricted Stock Units

Units settled in stock subject to a restricted period may be granted to key employees under the 2017 Omnibus Plan. Restricted stock units generally vest and become unrestricted over five years after the date of grant.

Information on restricted stock unit activity follows:


	Number of Restricted Stock Units Outstanding			Weighted-Average Grant Date Fair Value
Unvested balance at December 31, 2016		0		$	0.00
Granted		1,442,533		$	13.29
Vested		(39,200	)	$	13.29
Cancelled		(29,400	)	$	13.29

Unvested balance at December 31, 2017		1,373,933		$	13.29
Granted		315,825		$	16.68
Vested		(261,507	)	$	14.07
Cancelled		(376,837	)	$	13.30

Unvested balance at December 31, 2018		1,051,414		$	14.11

The fair value of restricted stock units corresponds to the grant date share fair value.

We have not nor do we expect to pay dividends for the foreseeable future.

Share-based compensation expense related to restricted stock units awards was $5.5 million in 2018, $4.7 million in 2017, and 0 in 2016.

Earnings per share

12 Months Ended

Dec. 31, 2018

Earnings per share

Note 16. Earnings per share

Accounting policy

Basic earnings per share are calculated by dividing profit attributable to our ordinary shareholders by the weighted average number of ordinary shares outstanding during the period, adjusted to take into account the impact of treasury shares.

Diluted earnings per share is calculated by adjusting profit attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding, for the effects of all potentially dilutive ordinary shares (stock-options, free shares, share warrants, employee warrants).

Detail of earnings per share


	For the year ended December 31,
	2016			2017			2018
Net income (loss) attributable to shareholders of Cellectis ($ in thousands)		(67,255	)		(99,368	)		(78,693	)

Adjusted weighted average number of outstanding shares, used to calculate both basic and diluted net result per share		35,274,890			35,690,636			40,774,197

Basic / Diluted net income (loss) per share ($ / share)
Basic net income (loss) per share ($ /share)		(1.91	)		(2.78	)		(1.93	)
Diluted net income (loss) per share ($ /share)		(1.91	)		(2.78	)		(1.93	)

Provisions

12 Months Ended

Dec. 31, 2018

Provisions

Note 17. Provisions

Accounting policy

A provision is recognized if, as a result of a past event, we have a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.

The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the reporting date.

Provisions for retirement and other benefits

Our defined benefit obligations, and their cost, are determined using the projected unit credit method.

The method consists in measuring the obligation based on a projected end-of-career salary and vested rights at the measurement date, according to the provisions of the collective bargaining agreement, corporate agreements and applicable law.

Actuarial assumptions used to determine the benefit obligations are specific to each country and each benefit plan. The discount rate used is the yield at the reporting date on AA credit-rated bonds with maturity dates that approximate the expected payments for our obligations.

Actuarial gains or losses are recognized in the statement of comprehensive loss for the year in which they occur.

Other long-term employee benefits

Our net obligation for long-term employee benefits other than retirement plans is equal to the value of employees’ future benefits vested in exchange for services rendered in the current and prior periods. The benefits are discounted and the fair value of any plan assets is deducted.

The obligation is measured using the projected unit credit method. The discount rate is the same as the one used for the provisions for retirement and other benefits. Actuarial gains or losses are recognized in profit or loss for the year in which they occur.

Termination benefits

Termination benefits are recognized as a liability and expense at the earlier of the following dates:

•

When the entity can no longer withdraw the offer of those benefits; and

•

When the entity recognizes costs for a restructuring that is within the scope of IAS 37 Provisions and involves the payment of termination benefits.

Details of provisions


	01/01/2017		Additions		Amounts used during the period			Reversals			OCI			12/31/2017
	$ in thousands
Pension		560		949		—			—			683			2,193
Loss on contract		—		1,876		—			—			—			1,876
Employee litigation and severance		121		29		(50	)		(108	)		9			1
Commercial litigation		468		552		(102	)		(215	)		79			782
Redundancy plan		6		—		—			—			1			7

Total		1,154		3,406		(152	)		(323	)		773			4,858

Non-current provisions		560		2,186		—			—			683			3,430
Current provisions		594		1,220		(152	)		(323	)		89			1,427

	01/01/2018		Additions		Amounts used during the period			Reversals			OCI			12/31/2018
	$ in thousands
Pension		2,193		314		(54	)		—			(175	)		2,278
Loss on contract		1,876		—		(834	)		—			1			1,043
Employee litigation and severance		1		43		—			(1	)		(2	)		41
Commercial litigation		782		646		—			(570	)		(8	)		850
Redundancy plan		7		—		—			(6	)		(1	)		—

Total		4,858		1,003		(888	)		(577	)		(186	)		4,211

Non-current provisions		3,430		314		(888	)		—			(175	)		2,681
Current provisions		1,427		688		—			(577	)		(11	)		1,528

During the year ended December 31, 2018, additions mainly relates to (i) operating charges linked with discussions with suppliers for $0.6 million and (ii) pension service cost of the period for $0.3 million (see detail above). Amounts used during the year ended December 31, 2018 mainly consists of (i) the rents payments of the facility lease in Montvale, New Jersey (USA) for $0.8 million and (ii) settlement of commercial litigations with suppliers for $0.6 million.

During the year ended December 31, 2017, additions in (i) commercial litigations mainly relates to one supplier and in (ii) loss on contract is mainly attributable to our willingness to discontinue the facility lease in Montvale, New Jersey (USA). Amounts used during the year ended December 31, 2017 mainly consist of the payments to a former supplier and in settlement of employee litigations.

Commitments for compensation payable to employees upon their retirement

France

In France, pension funds are generally financed by employer and employee contributions and are accounted for as defined contribution plans, with the employer contributions recognized as expense as incurred. There are no actuarial liabilities in connection with these plans. Expenses recorded in the years ended December 31, 2016, 2017 and 2018 amounted to $0.8 million, $0.8 million and $1.5 million, respectively.

French law also requires payment of a lump sum retirement indemnity to employees based on years of service and annual compensation at retirement. Benefits do not vest prior to retirement. We are paying this defined benefit plan. It is calculated as the present value of estimated future benefits to be paid, applying the projected unit credit method whereby each period of service is seen as giving rise to an additional unit of benefit entitlement, each unit being measured separately to build up the final.

The calculation of legal compensation for termination has changed in 2017 following the publication of a new French law.

The two important changes are:

•

Seniority conditions: the employee must justify to be entitled to an indemnity of 8 working months against one year before.

•

Calculation of the allowance: 1/4 of a month of salary per year of seniority up to 10 years, against 1/5 before, and no change beyond the 11th year.

As part of the estimation of the retirement indemnity to employee, the following assumptions were used for all categories of employees:


	2016	2017	2018
% social security contributions	45.00%	45.00%	45.00%
Salary increases	2.00%	3.50%	3.50%
Discount rate	1.75%	1.75%	1.75%
Terms of retirement	voluntary retirement
Retirement age	65 years old	65 years old	65 years old

The discount rates are based on the market yield at the end of the reporting period on high quality corporate bonds.

The following table shows reconciliation from the opening balances to the closing balances for net defined benefit liability and its components.


	$ in thousands
As of January 1, 2016		(477	)

Current service cost		(65	)
Interest cost		(9	)
Actuarial gains and losses		(31	)
Reclassification/CTA		20
As of December 31, 2016		(562	)

Current service cost		(925	)
Interest cost		(24	)
Actuarial gains and losses		(515	)
Reclassification/CTA		(168	)
As of December 31, 2017		(2,194	)

Current service cost		(276	)
Interest cost		(38	)
Benefit paid		54
Actuarial gains and losses		70
Reclassification/CTA		105
As of December 31, 2018		(2,279	)

United States of America

There is no defined benefit plan for Cellectis S.A.’s subsidiaries located in the United States.

Commitments

12 Months Ended

Dec. 31, 2018

Commitments

Note 18. Commitments

Accounting policy

The commitment amounts are associated with contracts that are enforceable and legally binding and that specify all significant terms, including fixed or minimum services to be used, fixed, minimum or variable price provisions, and the approximate timing of the actions under the contracts. They do not include obligations under agreements that we can cancel without a significant penalty.

Details of commitments


As of December 31, 2018	Total		Less than 1 year		1 - 3 years		3 - 5 years		More than 5 years
	$ in thousands
Sale and lease-back agreement		30,047		1,423		2,864		2,852		22,908
Facility lease agreements		27,188		1,651		7,411		8,193		9,933
License agreements		18,093		1,237		2,474		2,474		11,907
Manufacturing agreements		10,293		10,293		—		—		—
Other agreements		12,356		7,754		4,602		—		—

Total contractual obligations		97,977		22,359		17,350		13,519		44,749

Obligations under the terms of the sale and lease-back agreement

The sale and lease-back agreement entered into by Calyxt in the third quarter of 2017 has a defined lease term and is classified as an operating lease agreement under IFRS. It results in off-balance sheet commitments.

Obligations under the terms of the facility lease agreements

Facility lease agreements in Paris, France, and in New York City, New York; Montvale, New Jersey and Roseville, Minnesota (all in the USA) have been subscribed for a defined term. Future payments of these leases as disclosed in the table above, along with the letters of credit provided to the landlords of the Company’s facilities in New York and in Roseville, are off balance sheets commitments.

Obligations under the terms of license agreements

We have entered into various license agreements with third parties that subject us to certain fixed license fees, as well as fees based on future events, such as research and sales milestones.

We also have collaboration agreements whereby we are obligated to pay royalties and milestones based on future events that are uncertain and therefore they are not included in the table above.

Obligations under the terms of manufacturing agreements

We have manufacturing agreements whereby we are obligated to pay for services rendered in the next year regarding our products UCART123, UCARTCS1 and UCART22.

Obligations under the terms of other agreements

Calyxt has forward purchase commitments with growers to purchase seed and grain at future dates that are estimated based on anticipated yield and expected price. This amount is not recorded in the financial statements because the company has not taken delivery of the seed and grain.

Related parties	12 Months Ended
Related parties	Dec. 31, 2018
Text block1 [abstract]
Related parties	Note 19. Related parties *Key management personnel remuneration* Key management personnel include members of the Board of Directors and the CODM as of December 31, 2018, as described in Note 3.5. Short-term employee benefits paid to key management personnel totaled to $2.4 million in the fiscal year 2016, $3.6 million in the fiscal year 2017 and to $5.7 million in the fiscal year 2018. On September 4, 2014, the Board of Directors adopted a change of control plan which applies to the members of the CODM. This plan defines the conditions under which a severance package will be paid after a change of control of our company. Key management personnel employment agreements include a termination indemnity or additional post-employment compensation. Key management personnel received an aggregate of 90.000 securities in share-based remuneration (free shares and stock options) over the year ended December 31, 2018. The associated non-cash stock-based compensation expense of $0.1 million recognized for 2018. *Other transactions with related parties* Mr. Godard, a member of the Board of Directors, entered into two service agreements with us and provided consultancy services in the area of (i) global development strategy and (ii) specific development of agricultural biotechnology activities. Compensation paid for those services in the years ended December 31, 2016, 2017 and 2018 amounted to $37 thousand, $38 thousand and $70 thousand respectively. No balances were outstanding at the end of each fiscal year. As of December 31, 2018, Mr. Godard held 220,175 non-employee warrants that could be exercised to obtain 50,000 shares at a strike price of €38.45, 50,000 shares at a strike price of €28.01 for 50,000 warrants, 40,175 shares at a strike price of €27.37 for 40,175 warrants, 40,000 shares at a strike price of €18.68 for 40,000 warrants and 40,000 shares at a strike price of €24.34 for 40,000 warrants. In connection with the vesting on June 14, 2018 of Restricted Stock Units (RSU) granted to certain employees and non-employees of Calyxt Inc. and Cellectis SA, Cellectis SA purchased 2,352 common shares of Calyxt and 1,470 Calyxt shares at a price of $19.49 per share (the closing price reported on the Nasdaq Global Market on June 14, 2018) directly from Mr. André Choulika and Mr. Jean Marie Messier respectively in connection with share purchase transactions dated June 13 2018.

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2018
Text block1 [abstract]
Subsequent events	Note 20. Subsequent events In March 2019, we entered into a lease agreement for a 82,000 square foot commercial-scale manufacturing facility, called the IMPACT site, which stands for “Innovative Manufacturing Plant for Allogeneic Cellular Therapies”. The IMPACT facility is located in Raleigh, North Carolina. The new manufacturing facility is being designed to provide GMP manufacturing for clinical supply and commercial product upon potential regulatory approval. The facility is planned to be operational by 2021.

Accounting principles (Policies)

12 Months Ended

Dec. 31, 2018

Change in the presentation currency of the financial statements

Basis for preparation

2.1 Basis for preparation

The Consolidated Financial Statements of Cellectis as of and for the year ended December 31, 2018 were approved by our Board of Directors on March 7, 2019.

Our Consolidated Financial Statements are presented in U.S. dollars. See Note 2.2.

The Consolidated Financial Statements have been prepared using the historical cost measurement basis except for certain assets and liabilities that are measured at fair value in accordance with IFRS.

Application of new or amended standards or new amendments

•

IFRS 9 “Financial Instruments” (applicable for periods beginning after January 1, 2018)

•

Amendments to IFRS 2 “Classification and Measurement of Share-based Payment Transactions” (applicable for periods beginning after January 1, 2018)

•

IFRIC 22 “Foreign Currency Transactions and Advance Consideration” (applicable for periods beginning after January 1, 2018)

Standards, interpretations and amendments issued but not yet effective

•

Amendment to IFRS 9 “Financial Instruments – Prepayment Features with Negative Compensation” (applicable for periods beginning after January 1, 2019)

•

IFRIC 23 “Uncertainty over Income Tax Treatments” (applicable for periods beginning after January 1, 2019)

2.2 Change in the presentation currency of the financial statements

The effects of the change in presentation currency on the comparative consolidated financial statements are as follows:

•


As of December 31, 2016	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments (b)			Consolidated financial statement ($ in thousand)
Total non-current assets		17,963			18,935			—			18,935
Total current assets		296,459			312,497			—			312,497

TOTAL ASSETS		314,422			331,432			—			331,432

Shareholders’ equity
Capital		1,767			1,862			470			2,332
Premiums, Retained earnings (deficit) and Net income (loss)		254,834			268,622			24,432			293,054
Treasury share reserve		(307	)		(324	)		(92	)		(416	)
Currency translation adjustment		2,501			2,636			(24,810	)		(22,174	)

Total shareholders’ equity - Group Share		258,795			272,795			—			272,795

Non-controlling interests		1,779			1,875			—			1,875
Total shareholders’ equity		260,574			274,671			—			274,671
Total non-current liabilities		560			590			—			590
Total current liabilities		53,288			56,171			—			56,171

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		314,422			331,432			—			331,432

(a)	Converted at the ECB’s closing daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period, i.e., 0.94867 euro for 1 dollar.

(b)	Difference between the historical exchange rates and the ECB’s closing daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period, i.e. 0.94867 euro for 1 dollar.


For the full year ended December 31, 2015	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments		Consolidated financial statement ($ in thousand)
Total revenues and other income		56,385			62,565			—		62,565
Total operating expenses		(84,309	)		(93,549	)		—		(93,549	)
Operating income (loss)		(27,924	)		(30,984	)		—		(30,984	)
Financial gain (loss)		7,550			8,378			—		8,378
Income tax		—			—			—		—
Income (loss) from continuing operations		(20,373	)		(22,606	)		—		(22,606	)
Loss from discontinued operations		—			—			—		—
Net income (loss)		(20,373	)		(22,606	)		—		(22,606	)

(a)	Converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France), i.e 0.90121 euro for 1 dollar in 2015.


For the full year ended December 31, 2016	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments		Consolidated financial statement ($ in thousand)
Total revenues and other income		51,007			56,444			—		56,444
Total operating expenses		(111,824	)		(123,746	)		—		(123,746	)
Operating income (loss)		(60,818	)		(67,302	)		—		(67,302	)
Financial gain (loss)		42			46			—		46
Income tax		—			—			—		—
Income (loss) from continuing operations		(60,776	)		(67,255	)		—		(67,255	)
Loss from discontinued operations		—			—			—		—
Net income (loss)		(60,776	)		(67,255	)		—		(67,255	)

(a)	Converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France), i.e. 0.90366 euro for 1 dollar in 2016.

By convention and for practicability purpose, the differences have been recalculated on a cumulative basis from January 1, 2014 instead of the date of adoption of IFRS.

All financial information (unless indicated otherwise) is presented in thousands of U.S. dollars.

Basis of consolidation

2.4 Basis of consolidation

Accounting policy

To have power, the investor needs to have existing rights that give it the current ability to direct the relevant activities that significantly affect the investee’s returns.

In order to ascertain control, potential voting rights which are substantial are taken into consideration.

Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary.

All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full consolidation.

Consolidated entities

For the year ended December 31, 2018, the consolidated group of companies (sometimes referred to as the “Group”) includes Cellectis S.A., Cellectis, Inc. and Calyxt, Inc.

Non-controlling interests

Foreign currency

2.5 Foreign currency

Foreign currency transactions and balances

The resulting exchange gains or losses are recorded in the consolidated statements of operations in financial gain (loss).

Foreign currency translation

Gains and losses arising from currency translation are recognized in other comprehensive loss.

Consolidated financial statements are then converted into dollars using the method described in Note 2.2.

•

the differential between the average exchange rate and the period end rates applied to the cash flows of the period;

•

the differential between the opening exchange rates and the period end exchanges rate applied on our opening cash and cash equivalents balance denominated in dollars; and

•

the foreign exchange rate impact of the conversion of the financial statements of our US subsidiaries.

Use of judgment, estimates and assumptions

2.6 Use of judgment, estimates and assumptions

The Group’s exposure to risks and uncertainties is disclosed in Note 7.3: Financial instruments risk management and policies.

Estimates and assumptions

•

Revenue recognition – Note 3.1

•

Share-based payments – Note 15

•

Provisions for risks and charges – Note 17

Revenues and other income

3.1 Revenues and other income

Accounting policies

Collaboration agreements and licenses

Research and development costs reimbursements are recognized with respect to the policy described in section “Sales of products and services” below.

Revenues from technology licenses are recognized ratably over the period of the license agreements.

Sales of products and services

Research Tax Credit

Operating expenses

3.2 Operating expenses

Accounting policies

Financial income and expenses

3.3 Financial income and expenses

Accounting policies

Financial income and financial expense include, in particular, the following:

•

Interest income from savings accounts and fixed term bank deposits;

•

Interest expense from financial leases;

•

Foreign exchange gain (loss) from transactions in foreign currencies; and

•

Other financial income and expenses, mainly derived from fair value adjustments related to our financial assets and derivative instruments.

Income tax

3.4 Income tax

Accounting policies

Income tax (expense or income) comprises current tax expense (income) and deferred tax expense (income).

Reportable segments

3.5 Reportable segments

Accounting policies

Cellectis’ CODM is composed of:

•

The Chairman and Chief Executive Officer;

•

The Chief Operating Officer;

•

The Executive Vice President Technical Operations;

•

The Chief Scientific Officer;

•

The Chief Financial Officer;

•

The General Counsel;

•

The Senior Vice President Research and Development (until February 7, 2019);

•

The Chief Medical Officer (until February 28, 2019);

•

The Chief Regulatory & Compliance Officer.

We view our operations and manage our business in two operating and reportable segments that are engaged in the following activities:

•

With respect to corporate general and administrative expenses, Cellectis S.A. provides Calyxt, Inc. with general sales and administrative functions, accounting and finance functions, investor relations, intellectual property, legal advice, human resources, communication and information technology pursuant to a management agreement. Under the management agreement, Cellectis S.A. charges Calyxt, Inc. in euros at cost plus a mark-up ranging between zero to 10%, depending on the nature of the service. Amounts due to Cellectis S.A. pursuant to inter-segment transactions bear interest at a rate of the 12-month Euribor plus 5% per annum.

The net income (loss) includes the impact of the operations between segments while the intra-segment operations are eliminated.

Impairment tests

Accounting policy

Amortizable intangible assets and depreciable tangible assets are tested for impairment when there is an indicator of impairment. Goodwill is tested for impairment at least once a year. Impairment tests involve comparing the carrying amount of cash-generating units with their recoverable amount. The recoverable amount of an asset is the higher of (i) its fair value less costs to sell and (ii) its value in use. If the recoverable amount of any asset is below its carrying amount, an impairment loss is recognized to reduce the carrying amount to the recoverable amount.

Our cash-generating units (“CGUs”) correspond to the operating/reportable segments: Therapeutics and Plants.

Intangible assets

Accounting policy

Capitalization of development expenses

In accordance with IAS 38 Intangible Assets, development expenses are recorded as intangible assets only if all the following criteria are met:

•

technical feasibility necessary for the completion of the development project;

•

intention on our part to complete the project and to utilize it;

•

capacity to utilize the intangible asset;

•

proof of the probability of future economic benefits associated with the asset;

•

availability of the technical, financial, and other resources for completing the project; and

•

reliable evaluation of the development expenses.

Other intangible assets

The estimated useful lives are as follows:

•

Software: from 1 year to 3 years;

•

Patents: amortized from acquisition until legal protection expires, maximum of 20 years.

Property, plant and equipment

Accounting policy

The estimated useful lives are as follows:

•

Buildings and other outside improvements 10-20 years

•

Leasehold improvements 5-10 years

•

Office furniture 10 years

•

Laboratory equipment 3-10 years

•

Office equipment 5 years

•

IT equipment 3 years

Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.

Financial assets and liabilities

7.1 Accounting principles

Financial assets

Under IFRS 9, Cellectis holds either:

•

financial assets measured at amortized cost or;

•

financial assets measured at fair value through profit or loss.

Non-current financial assets are recorded at the amortized cost and correspond to security deposits mainly relating to our facilities rents.

Current financial assets correspond to investments and are recorded at fair value through profit and loss, which is the nominal value of the investment adjusted with the daily mark-to-market value.

Receivables are classified as current assets, except for those with a maturity exceeding 12 months after the reporting date.

Financial liabilities

The application of IFRS 9 has no impact on the Cellectis’ accounting policy regarding financial liabilities.

Financial liabilities include trade and other payables, finance leases and conditional advances.

We initially recognize financial liabilities on the transaction date, which is the date that we become a party to the contractual provisions of the instrument.

We derecognize financial liabilities when our contractual obligations are discharged, canceled or expire.

Inventories

Accounting policy

Inventories are measured at the lower of cost and net realizable value. Cost is determined using the first in first out cost method.

Description of inventories

As of December 31, 2018 and 2017, they consist of $275 thousand and $250 thousand, respectively, in raw materials and laboratory consumables (representing pharmaceutical and chemical products). No provision for impairment has been recorded as of December 31, 2017 and 2018.

Current financial assets

10.1 Current financial assets

Accounting policies

Current financial assets include current restricted cash and other current financial assets.

Financial assets are measured at fair value through profit or loss in accordance with IAS 39 include the following:

•

Financial assets including embedded derivatives for which Cellectis elected to designate at fair value through profit or loss;

•

Financial assets managed on a fair value basis; and

•

Derivative instruments that are not documented in hedging relationships.

Details of current financial assets

Current financial assets are measured at fair value through profit or loss and are classified as follows within the fair value hierarchy:

•

There was no other current financial assets as of December 31, 2018.

Cash and cash equivalents

10.2 Cash and cash equivalents

Accounting policy

Accounting policies

As disclosed in Note 3, non-refundable upfront payments are deferred and recognized as revenue over the period of the collaboration agreement.

Share capital issued

Accounting policy

Earnings per share

Accounting policy

Provisions

Accounting policy

The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the reporting date.

Provisions for retirement and other benefits

Our defined benefit obligations, and their cost, are determined using the projected unit credit method.

Actuarial gains or losses are recognized in the statement of comprehensive loss for the year in which they occur.

Commitments

Accounting policy

Accounting principles (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Presentation Currency of the Financial Statements

•


As of December 31, 2016	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments (b)			Consolidated financial statement ($ in thousand)
Total non-current assets		17,963			18,935			—			18,935
Total current assets		296,459			312,497			—			312,497

TOTAL ASSETS		314,422			331,432			—			331,432

Shareholders’ equity
Capital		1,767			1,862			470			2,332
Premiums, Retained earnings (deficit) and Net income (loss)		254,834			268,622			24,432			293,054
Treasury share reserve		(307	)		(324	)		(92	)		(416	)
Currency translation adjustment		2,501			2,636			(24,810	)		(22,174	)

Total shareholders’ equity - Group Share		258,795			272,795			—			272,795

Non-controlling interests		1,779			1,875			—			1,875
Total shareholders’ equity		260,574			274,671			—			274,671
Total non-current liabilities		560			590			—			590
Total current liabilities		53,288			56,171			—			56,171

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		314,422			331,432			—			331,432

(a)	Converted at the ECB’s closing daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period, i.e., 0.94867 euro for 1 dollar.

(b)	Difference between the historical exchange rates and the ECB’s closing daily reference exchange rate for dollar / euro exchanges (as published by Banque de France) at the end of the period, i.e. 0.94867 euro for 1 dollar.

Summary of Net Income (Loss)


For the full year ended December 31, 2015	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments		Consolidated financial statement ($ in thousand)
Total revenues and other income		56,385			62,565			—		62,565
Total operating expenses		(84,309	)		(93,549	)		—		(93,549	)
Operating income (loss)		(27,924	)		(30,984	)		—		(30,984	)
Financial gain (loss)		7,550			8,378			—		8,378
Income tax		—			—			—		—
Income (loss) from continuing operations		(20,373	)		(22,606	)		—		(22,606	)
Loss from discontinued operations		—			—			—		—
Net income (loss)		(20,373	)		(22,606	)		—		(22,606	)

(a)	Converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France), i.e 0.90121 euro for 1 dollar in 2015.


For the full year ended December 31, 2016	Consolidated financial statement as reported (€ in thousand)			Consolidated financial statement as reported converted (a) ($ in thousand)			Adjustments		Consolidated financial statement ($ in thousand)
Total revenues and other income		51,007			56,444			—		56,444
Total operating expenses		(111,824	)		(123,746	)		—		(123,746	)
Operating income (loss)		(60,818	)		(67,302	)		—		(67,302	)
Financial gain (loss)		42			46			—		46
Income tax		—			—			—		—
Income (loss) from continuing operations		(60,776	)		(67,255	)		—		(67,255	)
Loss from discontinued operations		—			—			—		—
Net income (loss)		(60,776	)		(67,255	)		—		(67,255	)

(a)	Converted at the average for the applicable annual period of the ECB’s daily reference exchange rate for dollar / euro exchanges (as published by Banque de France), i.e. 0.90366 euro for 1 dollar in 2016.

Summary of Revenue from Contract with Customers of the Financial Statements

Except for this opening equity impact presented below, IFRS 15 has no impact in the financial statements for fiscal years 2016 and 2017.


	January 1^st, 2016 as presented			IFRS 15 restatement			January 1st, 2016 as restated
	$ in thousands
Total non-current assets		7,451			—			7,451

Total current assets		363,863			—			363,863

TOTAL ASSETS		371,314			—			371,314

Shareholders’ equity								—
Share capital		2,323			—			2,323
Premiums related to the share capital		509,938			—			509,938
Treasury share reserve		(279	)		—			(279	)
Currency translation adjustment		(17,853	)		34			(17,819	)
Retained earnings (deficit)		(185,120	)		—			(185,120	)
Net income (loss)		(22,796	)		(1,775	)		(24,571	)

Total shareholders’ equity - Group Share		286,212			(1,742	)		284,471
Non-controlling interests		789			—			789

Total shareholders’ equity		287,002			(1,742	)		285,260

Total non-current liabilities		548			—			548

Current liabilities								—
Current financial liabilities		2,091			—			2,091
Trade payables		7,197			—			7,197
Deferred revenues and contract liabilities		59,615			1,742			61,357
Current provisions		1,038			—			1,038
Other current liabilities		13,823			—			13,823

Total current liabilities		83,765			1,742			85,506

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		371,314			—			371,314


	December 31, 2016 as presented			IFRS 15 restatement			December 31, 2016 as restated
				$ in thousands
Total non-current assets		18,935			—			18,935

Total current assets		312,498			—			312,498

TOTAL ASSETS		331,432			—			331,432

Shareholders’ equity								—
Share capital		2,332			—			2,332
Premiums related to the share capital		568,185			—			568,185
Treasury share reserve		(416	)		—			(416	)
Currency translation adjustment		(22,174	)		89			(22,085	)
Retained earnings (deficit)		(207,875	)		(1,775	)		(209,650	)
Net income (loss)		(67,255	)		—			(67,255	)

Total shareholders’ equity - Group Share		272,795			(1,686	)		271,109
Non-controlling interests		1,876			—			1,876

Total shareholders’ equity		274,671			(1,686	)		272,985

Total non-current liabilities		590			—			590

Current liabilities								—
Current financial liabilities		1,730			—			1,730
Trade payables		9,722			—			9,722
Deferred revenues and contract liabilities		38,929			1,686			40,615
Current provisions		594			—			594
Other current liabilities		5,196			—			5,196

Total current liabilities		56,171			1,686			57,857

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		331,432			—			331,432


	December 31, 2017 as presented			IFRS 15 restatement			December 31, 2017 as restated
	$ in thousands
Total non-current assets		9,661			—			9,661

Total current assets		323,221			—			323,221

TOTAL ASSETS		332,882			—			332,882

Shareholders’ equity								—
Share capital		2,367			—			2,367
Premiums related to the share capital		614,037			—			614,037
Treasury share reserve		(297	)		—			(297	)
Currency translation adjustment		1,978			(144	)		1,834
Retained earnings (deficit)		(251,927	)		(1,775	)		(253,702	)
Net income (loss)		(99,368	)		—			(99,368	)

Total shareholders’ equity - Group Share		266,791			(1,919	)		264,873
Non-controlling interests		19,113			—			19,113

Total shareholders’ equity		285,904			(1,919	)		283,985

Total non-current liabilities		3,443			—			3,443

Current liabilities								—
Current financial liabilities		21			—			21
Trade payables		9,460			—			9,460
Deferred revenues and contract liabilities		26,056			1,919			27,975
Current provisions		1,427			—			1,427
Other current liabilities		6,570			—			6,570

Total current liabilities		43,534			1,919			45,453

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		332,882			—			332,882

Share Capital
Ordinary Shares

Equity

$ in thousands

Number of
shares

Amount

Premiums
related to
share capital

Treasury
shares
reserve

Currency
translation
adjustment

Retained
earnings
(deficit)

Income
(Loss)

attributable
to
shareholders
of Cellectis

Non
controlling
interests

Total
Shareholders’
Equity

As of January 1, 2016, as presented

35,178,614

2,323

509,938

(279

)

(17,853

)

(185,120

)

(22,796

)

286,212

789

287,002

IFRS 15 restatement

—

(1,775

)

(1,742

)

—

(1,742

)

As of January 1, 2016, as restated

35,178,614

2,323

509,938

(279

)

(17,819

)

(185,120

)

(24,571

)

284,471

789

285,260

Share Capital
Ordinary Shares

Equity

$ in thousands

Number of
shares

Amount

Premiums
related to
share capital

Treasury
shares
reserve

Currency
translation
adjustment

Retained
earnings
(deficit)

Income
(Loss)

attributable
to
shareholders
of Cellectis

Non
controlling
interests

Total
Shareholders’
Equity

As of January 1, 2017, as presented

35,335,060

2,332

568,185

(416

)

(22,174

)

(207,875

)

(67,255

)

272,795

1,876

274,671

IFRS 15 restatement

—

(1,775

)

—

(1,686

)

—

(1,686

)

As of January 1, 2017, as restated

35,335,060

2,332

568,185

(416

)

(22,085

)

(209,651

)

(67,255

)

271,109

1,876

272,984

Share Capital
Ordinary Shares

Equity

$ in thousands

Number of
shares

Amount

Premiums
related to
share capital

Treasury
shares
reserve

Currency
translation
adjustment

Retained
earnings
(deficit)

Income
(Loss)

attributable
to
shareholders
of Cellectis

Non
controlling
interests

Total
Shareholders’
Equity

As of January 1, 2018, as presented

35,960,062

2,367

614,037

(297

)

1,978

(251,927

)

(99,368

)

266,791

19,113

285,904

IFRS 15 restatement

—

(143

)

(1,775

)

—

(1,919

)

—

(1,919

)

As of January 1, 2018, as restated

35,960,062

2,367

614,037

(297

)

1,835

(253,702

)

(99,368

)

264,873

19,113

283,986

As of December 31,

IFRS 15

As of December 31,

2016, as presented

restatement

2016, as restated

$ in thousands

Deferred revenues and contract liabilities

38,929

1,686

40,615

Total Deferred revenue and contract liabilities

38,929

1,686

40,615

As of December 31,

IFRS 15

As of December 31,

2017, as presented

restatement

2017, as restated

$ in thousands

Deferred revenues and contract liabilities

26,056

1,919

27,975

Total Deferred revenue and contract liabilities

26,056

1,919

27,975

Information concerning the Group's Consolidated Operations (Tables)

12 Months Ended

Dec. 31, 2018

Revenues By Country of Origin and Other Income

Revenues by country of origin and other income

For the year ended December 31,

2016

2017

2018

$ in thousands

From France

44,409

24,680

12,495

From USA

399

508

236

Revenues

44,808

25,188

12,731

Research tax credit

10,038

8,327

8,561

Subsidies and other

1,599

201

140

Other income

11,637

8,528

8,701

Total revenues and other income

56,444

33,715

21,432

Revenues by Nature

Revenues by nature


	For the year ended December 31,
	2016		2017		2018
	$ in thousands
Recognition of previously deferred upfront payments		20,856		14,875		7,114
Other revenues		21,035		7,945		3,383

Collaboration agreements		41,891		22,821		10,497

Licenses		2,771		2,270		2,142
Products & services		145		97		92

Total revenues		44,808		25,188		12,731

Details of Operating Expenses by Nature

Details of operating expenses by nature


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Royalty expenses		(1,777	)		(2,620	)		(2,739	)

	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Research and development expenses
Wages and salaries		(11,924	)		(12,986	)		(16,452	)
Social charges on free shares and stock option grants		(3,851	)		(1,088	)		(99	)
Non-cash stock based compensation expense		(33,207	)		(23,832	)		(18,057	)

Personnel expenses		(48,982	)		(37,906	)		(34,608	)

Purchases and external expenses		(27,720	)		(38,458	)		(40,458	)
Other		(1,756	)		(2,863	)		(1,501	)

Total research and development expenses		(78,458	)		(79,227	)		(76,567	)


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Selling, general and administrative expenses
Wages and salaries		(4,978	)		(7,019	)		(11,373	)
Social charges on free shares and stock option grants		(3,130	)		(881	)		(29	)
Non-cash stock based compensation expense		(25,415	)		(26,586	)		(19,161	)

Personnel expenses		(33,523	)		(34,486	)		(30,563	)

Purchases and external expenses		(8,854	)		(9,138	)		(14,251	)
Other		(1,035	)		(1,126	)		(2,433	)

Total selling, general and administrative expenses		(43,413	)		(44,750	)		(47,248	)


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Personnel expenses
Wages and salaries		(16,902	)		(20,005	)		(27,825	)
Social charges on free shares and stock option grants		(6,981	)		(1,969	)		(128	)
Non-cash stock based compensation expense		(58,622	)		(50,418	)		(37,218	)

Total personnel expenses		(82,505	)		(72,392	)		(65,171	)

Details of Financial Income and Expenses

Details of financial income and expenses


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Interest income		1,630			1,974			6,787
Foreign exchange gain		4,832			1,185			13,597
Other financial revenues		689			4,102			188

Total financial revenues		7,147			7,262			20,572

Interest expenses		—			—			(39	)
Interest expenses for finance lease		(7	)		(4	)		(7	)
Foreign exchange loss		(4,201	)		(17,734	)		(3,090	)
Other financial expenses		(2,895	)		(556	)		(677	)

Total financial expenses		(7,101	)		(18,294	)		(3,813	)

Total		46			(11,032	)		16,758

Disclosure of Income Tax (Expense or Income)

Tax proof


	For the year ended December 31,
	2016			2017			2018
	$ in thousands
Income (loss) before taxes from continuing operations		(67,255	)		(103,683	)		(88,333	)
Theoretical group tax rate		34.43	%		34.43	%		23.66	%

Theoretical tax benefit (expense)		23,156			35,698			20,901

Increase/decrease in tax benefit arising from:
Permanent differences		124			293			832
Research tax credit		3,082			2,926			2,079
Share-based compensation & other IFRS adjustments		(20,184	)		(8,297	)		(8,065	)

Non recognition of deferred tax assets related to tax losses and temporary differences		(6,158	)		(30,713	)		(15,652	)

Other differences		(20	)		92			(95	)

Effective tax expense		—			—			—

Effective tax rate		0.00	%		0.00	%		0.00	%

Disclosure of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities


	As of December 31,
	2016			2017			2018
	$ in thousands
Credits and net operating loss carryforwards		41,985			51,640			65,555
Pension commitments		193			548			569
Leases		(54	)		(12	)		(4	)
Impairment of assets		14			10			10
Revenue recognition		—			—			200
Other		894			604			491
Valuation allowance on deferred tax assets		(43,032	)		(52,790	)		(66,823	)

Total		—			—			—

Summary of Key Performance Indicators by Reportable Segments

Details of key performance indicators by reportable segment


	For the year ended December 31, 2016									For the year ended December 31, 2017									For the year ended December 31, 2018
$ in thousands	Plants			Therapeutics			Total reportable segments			Plants			Therapeutics			Total reportable segments			Plants			Therapeutics			Total reportable segments
External revenues		399			44,409			44,808			508			24,680			25,188			236			12,495			12,731
External other income		186			11,450			11,637			239			8,290			8,528			178			8,523			8,701

External revenues and other income		585			55,859			56,444			747			32,969			33,715			414			21,018			21,432

Royalty expenses		(468	)		(1,309	)		(1,777	)		(390	)		(2,230	)		(2,620	)		(595	)		(2,144	)		(2,739	)
Research and development expenses		(4,112	)		(74,345	)		(78,458	)		(6,057	)		(73,170	)		(79,227	)		(8,638	)		(67,929	)		(76,567	)
Selling, general and administrative expenses		(4,809	)		(38,603	)		(43,413	)		(13,143	)		(31,607	)		(44,750	)		(21,067	)		(26,180	)		(47,248	)
Other operating income and expenses		(6	)		(93	)		(99	)		6			225			232			(50	)		81			31

Total operating expenses		(9,395	)		(114,351	)		(123,746	)		(19,584	)		(106,782	)		(126,366	)		(30,351	)		(96,172	)		(126,523	)

Operating income (loss) before tax		(8,810	)		(58,492	)		(67,302	)		(18,837	)		(73,813	)		(92,650	)		(29,937	)		(75,154	)		(105,091	)

Financial gain (loss)		87			(41	)		46			—			(11,032	)		(11,032	)		1,420			15,339			16,758

Net income (loss)		(8,722	)		(58,533	)		(67,255	)		(18,837	)		(84,846	)		(103,683	)		(28,517	)		(59,816	)		(88,333	)

Net income (loss) from discontinued operations		—			—			—			—			—			—			—			—			—
Non controlling interests		—			—			—			4,315			—			4,315			9,640			—			9,640

Net income (loss) attributable to shareholders of Cellectis		(8,722	)		(58,533	)		(67,255	)		(14,522	)		(84,846	)		(99,368	)		(18,877	)		(59,816	)		(78,693	)

R&D non-cash stock-based expense attributable to shareholder of Cellectis		477			32,731			33,208			967			22,623			23,590			838			16,852			17,689
SG&A non-cash stock-based expense attributable to shareholder of Cellectis		621			24,793			25,414			4,990			20,345			25,335			5,218			11,655			16,873

Adjustment of share-based compensation attributable to shareholders of Cellectis		1,098			57,524			58,622			5,957			42,967			48,924			6,056			28,507			34,563

Adjusted net income (loss) attributable to shareholders of Cellectis		(7,625	)		(1,009	)		(8,633	)		(8,565	)		(41,877	)		(50,443	)		(12,821	)		(31,309	)		(44,130	)

Depreciation and amortization		(345	)		(1,866	)		(2,211	)		(551	)		(2,820	)		(3,371	)		(637	)		(1,740	)		(2,377	)
Additions to tangible and intangible assets		10,410			4,164			14,573			792			1,849			2,642			1,871			3,040			4,911
Impairment of tangible assets		—			—			—			—			(798	)		(798	)		—			—			—

Summary of Reconciliation of Plant Segment Result of Operations

Reconciliation of Plant Segment result of operations for the year ended December 31, 2018


$ in thousands	For the full year ended December 31, 2018
$ in thousands	Cellectis Consolidated financial statements Reportable segments note (IFRS)			Non-cash stock-based compensation booked in IFRS (1)		Non-cash stock-based compensation in US GAAP (1)			Intersegment transactions (2)			Reclassifications (3)			Other (4)			Calyxt Stand alone financial statements (US GAAP)
External revenues and other income		414			—		—			—			(177	)		—			236

Research and development expenses		(8,638	)		1,205		(630	)		—			(1,783	)		—			(9,846	)
Selling, general and administrative expenses		(21,067	)		7,506		(3,756	)		(3,090	)		1,245			657			(18,505	)
Royalties and other operating income and expenses		(645	)		—		—			(71	)		716			—			—

Total operating expenses		(30,350	)		8,711		(4,386	)		(3,161	)		177			657			(28,351	)

Operating income (loss) before tax		(29,937	)		8,711		(4,386	)		(3,161	)		—			657			(28,115	)

Financial gain (loss)		1,420			—		—			51			—			(1,244	)		218

Net income (loss)		(28,517	)		8,711		(4,386	)		(3,110	)		—			(587	)		(27,897	)

Reconciliation of Plant Segment result of operations for the year ended December 31, 2017


$ in thousands	For the full year ended December 31, 2017
$ in thousands	Cellectis Consolidated financial statements Reportable segments note (IFRS)			Calyxt equity award plan IFRS/US GAAP difference : Non cash stock-based compensation (1)		Cellectis and Calyxt equity award IFRS/US GAAP difference : Non cash stock-based compensation (1)			Intersegment transactions (2)			Reclassifications (3)			Other (4)			Calyxt Stand alone financial statements (US GAAP)
External revenues and other income		747			—		—			167			(405	)		(1	)		508

Research and development expenses		(6,057	)		1,134		(6,086	)		—			(563	)		16			(11,556	)
Selling, general and administrative expenses		(13,143	)		6,316		(6,006	)		(2,501	)		436			157			(14,741	)
Royalties and other operating income and expenses		(384	)		—		—			(114	)		504			(7	)		—

Total operating expenses		(19,584	)		7,450		(12,092	)		(2,615	)		378			166			(26,297	)

Operating income (loss) before tax		(18,837	)		7,450		(12,092	)		(2,448	)		(27	)		165			(25,789	)

Financial gain (loss)		—			—		—			(1	)		27			(218	)		(191	)

Net income (loss)		(18,837	)		7,450		(12,092	)		(2,449	)		—			(53	)		(25,980	)

Reconciliation of Plant Segment result of operations for the year ended December 31, 2016


$ in thousands	For the year ended December 31, 2016
$ in thousands	Cellectis Consolidated financial statements Reportable segments note (IFRS)			Calyxt equity award plan IFRS/US GAAP difference : Non cash stock-based compensation (1)		Cellectis equity award IFRS/US GAAP difference : Non cash stock-based compensation (1)			Intersegment transactions (2)			Reclassifications (3)			Other (4)			Calyxt Stand alone financial statements (US GAAP)
External revenues and other income		585			—		—			131			(317	)		—			399

Research and development expenses		(4,112	)		477		(928	)		—			(1,058	)		(17	)		(5,638	)
Selling, general and administrative expenses		(4,809	)		621		(20	)		(3,443	)		945			37			(6,670	)
Royalties and other operating income and expenses		(474	)		—		—			(155	)		430			(1	)		(200	)

Total operating expenses		(9,395	)		1,098		(948	)		(3,598	)		317			19			(12,508	)

Operating income (loss) before tax		(8,810	)		1,098		(948	)		(3,468	)		—			19			(12,109	)

Financial gain (loss)		87			—		—			(64	)		—			(1	)		23

Net income (loss)		(8,722	)		1,098		(948	)		(3,532	)		—			18			(12,086	)

(1)

(2)

(3)	Reclassifications relate to expenses, which are classified differently under IFRS for Cellectis’ consolidated financials and U.S. GAAP for Calyxt’s stand-alone financial statements.

(4)	Other principally includes the restatement of Calyxt’s sale and lease-back transaction with respect to its Roseville, Minnesota property, which is recorded as a finance lease in U.S. GAAP and as an operating lease under IFRS.

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2018

Details Information About Intangible Assets

Details of intangible assets


$ in thousands	Software and Patents			Assets under construction			Total
Net book value as of January 1, 2016		1,041			—			1,041

Change in scope		—			—			—
Additions to intangible assets		212			439			652
Disposal of intangible assets		(74	)		—			(74	)
Depreciation expense		(226	)		—			(226	)
Translation adjustments		(28	)		(21	)		(49	)

Net book value as of December 31, 2016		924			419			1,343

Gross value at end of period		2,256			419			2,675
Accumulated depreciation and impairment at end of period		(1,332	)		—			(1,332	)
Net book value as of January 1, 2017		924			419			1,343

Additions to intangible assets		6			135			141
Depreciation expense		(231	)		—			(231	)
Translation adjustments		112			66			178

Net book value as of December 31, 2017		811			619			1,431

Gross value at end of period		2,571			517			3,190
Accumulated depreciation and impairment at end of period		(1,759	)		—			(1,759	)
Net book value as of January 1, 2018		811			619			1,431

Additions to intangible assets		14			103			117
Disposal of intangible assets		(7	)		—			(7	)
Reclassification		6			—			6
Depreciation expense		(217	)		—			(217	)
Translation adjustments		(30	)		(31	)		(61	)

Net book value as of December 31, 2018		577			691			1,268

Gross value at end of period		2,454			691			3,146
Accumulated depreciation and impairment at end of period		(1,878	)		—			(1,878	)

Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Property Plant and Equipment Estimated Useful Lives

The estimated useful lives are as follows:

•

Buildings and other outside improvements 10-20 years

•

Leasehold improvements 5-10 years

•

Office furniture 10 years

•

Laboratory equipment 3-10 years

•

Office equipment 5 years

•

IT equipment 3 years

Details of Property, Plant and Equipment

Details of property, plant and equipment


	Lands and Buildings			Technical equipment			Fixtures, fittings and other equipment			Assets under construction			Total
	$ in thousands
Net book value as of January 1, 2016		2,072			2,897			340			182			5,490

Additions to tangible assets		11,164			1,076			562			902			13,704
Disposal of tangible assets		—			(3	)		(1	)		(183	)		(186	)
Depreciation expense		(741	)		(1,077	)		(167	)		—			(1,986	)
Reclassification		—			3			(3	)		—			—
Translation adjustments		(59	)		(38	)		(23	)		(4	)		(122	)

Net book value as of December 31, 2016		12,436			2,858			707			898			16,900

Gross value at end of period		15,085			10,634			1,104			898			27,721
Accumulated depreciation and impairment at end of period		(2,649	)		(7,775	)		(397	)		—			(10,821	)

Net book value as of January 1, 2017		12,436			2,858			707			898			16,900

Additions to tangible assets		718			701			203			878			2,501
Disposal of tangible assets		(9,243	)		(103	)		2			(109	)		(9,453	)
Reclassification		14			47			18			(79	)		—
Depreciation expense		(972	)		(1,126	)		(245	)		(798	)		(3,140	)
Translation adjustments		206			127			68			18			418

Net book value as of December 31, 2017		3,159			2,505			753			809			7,226

Gross value at end of period		6,936			12,114			1,447			1,606			22,103
Accumulated depreciation and impairment at end of period		(3,777	)		(9,609	)		(693	)		(798	)		(14,877	)

Net book value as of January 1, 2018		3,159			2,505			753			809			7,226

Additions to tangible assets		879			1,622			1,820			1,942			6,263
Disposal of tangible assets		—			(49	)		(690	)		(426	)		(1,164	)
Reclassification		39			216			793			(1,053	)		(6	)
Depreciation expense		(758	)		(854	)		(478	)		—			(2,091	)
Translation adjustments		(90	)		(46	)		(27	)		(25	)		(188	)

Net book value as of December 31, 2018		3,229			3,393			2,172			1,247			10,041

Gross value at end of period		7,604			13,297			3,215			2,045			26,160
Accumulated depreciation and impairment at end of period		(4,375	)		(9,903	)		(1,043	)		(798	)		(16,119	)

Details of Finance Lease

Details of finance lease


	As of December 31,
	2017			2018
	$ in thousands
Gross value		4,448			5,689
Accumulated depreciation		(4,366	)		(4,329	)

Net		82			1,360

Financial assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Financial Assets and Liabilities

The following table shows the carrying amounts and fair values of financial assets and financial liabilities.


	Accounting category				Book value on the statement of financial position		Fair Value
2017	Fair value through profit and loss		Amortized cost				Fair Value
	$ in thousands
Financial assets
Non-current financial assets		—		1,004		1,004		1,004
Trade receivables		—		2,753		2,753		2,753
Subsidies receivables		—		9,524		9,524		9,524
Current financial assets		40,602		—		40,602		40,602
Cash and cash equivalents		256,380		—		256,380		256,380

Total financial assets		296,982		13,281		310,263		310,263

Financial liabilities
Non-current financial liabilities		—		13		13		13
Current financial liabilities		—		21		21		21
Trade payables		—		9,460		9,460		9,460
Other current liabilities		—		6,570		6,570		6,570

Total financial liabilities		—		16,064		16,064		16,064


	Accounting category				Book value on the statement of financial position		Fair Value
2018	Fair value through profit and loss		Amortized cost				Fair Value
	$ in thousands
Financial assets
Non-current financial assets		—		1,891		1,891		1,891
Trade receivables		—		2,971		2,971		2,971
Subsidies receivables		—		17,173		17,173		17,173
Current financial assets		7		381		388		388
Cash and cash equivalents		451,501		—		451,501		451,501

Total financial assets		451,508		22,416		473,924		473,924

Financial liabilities
Non-current financial liabilities		—		1,018		1,018		1,018
Current financial liabilities		—		333		333		333
Trade payables		—		15,883		15,883		15,883
Other current liabilities		—		8,369		8,369		8,369

Total financial liabilities		—		25,603		25,603		25,603

Summary of Derivative Financial Instruments

As of December 31, 2017, we held the following derivative financial instruments, denominated in US dollars:


2017	Notional		Fair Value		Maturity
	$ in thousands
USD forward sale contracts		18,775		558		2018
USD forward purchase contracts		—		—		—

Total derivative financial instruments				558

of which :
Derivative financial assets				558
Derivative financial liabilities				—

Cellectis hedging policy is not affected by the application of IFRS 9.

As of December 31, 2018, we did not hold derivative financial instruments.

Trade receivables and other current assets (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Trade Receivables

9.1 Trade receivables


	As of December 31,			As of December 31,
	2017			2018
	$ in thousands
Trade receivables		3,079			3,353
Provision for expected credit losses		(326	)		(382	)

Total net value of trade receivables		2,753			2,971

Disclosure of Subsidies Receivables

9.2 Subsidies receivables


	As of December 31,			As of December 31,
	2017			2018
	$ in thousands
Research tax credit		9,039			16,842
Other subsidies		1,812			1,598
Valuation allowance for other subsidies		(1,326	)		(1,266	)

Total subsidies receivables		9,524			17,173

Disclosure of Other Current Assets

9.3 Other current assets


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
VAT receivables		1,543		1,679
Prepaid expenses and other prepayments		8,304		10,985
Tax and social receivables		873		244
Deferred expenses and other current assets		2,993		2,425

Total other current assets		13,713		15,333

Current financial assets and Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Current Financial Assets and Cash and Cash Equivalents


As of December 31, 2017	Carrying amount		Unrealized Gains/(Losses)		Estimated fair value
			$ in thousands
Current financial assets		40,602		—		40,602
Cash and cash equivalents		256,380		—		256,380

Current financial assets and cash and cash equivalents		296,982		—		296,982


As of December 31, 2018	Carrying amount		Unrealized Gains/(Losses)		Estimated fair value
			$ in thousands
Current financial assets		388		—		388
Cash and cash equivalents		451,501		—		451,501

Current financial assets and cash and cash equivalents		451,889		—		451,889

Details of Cash and Cash Equivalents

Details of cash and cash equivalents


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
Cash and bank accounts		219,368		398,178
Money market funds		13,026		13,248
Fixed bank deposits		23,986		40,075

Total cash and cash equivalents		256,380		451,501

Financial liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Detail of financial liabilities

Detail of financial liabilities


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
Finance leases		13		1,018

Total non-current financial liabilities		13		1,018

Finance leases		21		333

Total current financial liabilities		21		333

Trade payables		9,460		15,883
Other current liabilities		6,570		8,369

Total Financial liabilities		16,064		25,603

Due dates of the financial liabilities

Due dates of the financial liabilities


Balance as of December 31, 2018	Gross Amount		Less than One Year		One to Five Years		More than Five Years
	$ in thousands
Finance leases		1,350		333		1,018		—
Derivative instruments		—		—		—		—

Financial liabilities		1,350		333		1,018		—

Trade payables		15,883		15,883		—		—
Other current liabilities		8,369		8,369		—

Total financial liabilities		25,603		24,585		1,018		—

Other current liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Other Current Liabilities


	As of December 31,		As of December 31,
	2017		2018
	$ in thousands
VAT Payables		9		291
Accruals for personnel related expenses		5,982		7,041
Other		579		1,037

Total		6,570		8,369

Deferred revenues and contract liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Details of Deferred Revenues and Contract Liabilities

Details of deferred revenues and contract liabilities


	As of December 31, 2017 as restated (*)		As of December 31, 2018
	$ in thousands
Deferred revenues and contract liabilities		27,975		20,454
Other		—		299

Total Deferred revenue and contract liabilities		27,975		20,754

Capital (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Classes of Share Capital

Nature of the Transactions

Share Capital

Share premium

Number of shares

Nominal value

$ in thousands

in $

Balance as of January 1, 2016

2,323

509,938

35,178,614

0.05

Capital increase by issuance of ordinary shares (BSA, BSPCE and free shares)

723

156,446

—

Non-cash stock based compensation expense

—

57,524

—

Balance as of December 31, 2016

2,332

568,185

35,335,060

0.05

Capital Increase

466,950

Exercise of share warrants, employee warrants and stock options

2,921

158,052

Non-cash stock based compensation expense

42,968

Other movements

(37

)

Balance as of December 31, 2017

2,367

614,037

35,960,062

0.05

Capital Increase

379

178,230

6,146,000

Exercise of share warrants, employee warrants and stock options

7,751

324,007

Non-cash stock based compensation expense

28,507

Balance as of December 31, 2018

2,765

828,525

42,430,069

0.05

Schedule of Share Warrants and Non-employee Warrants


Date	Type		Number of options/warrants/ shares oustanding as of 01/01/2018		Number of options/warrants/ shares granted		Number of options/warrants/ shares vested/exercised		Number of options/warrants/ shares voided		Number of options/warrants/ shares oustanding as of 12/31/2018		Maximum of shares to be issued		Number of options/warrants/ shares exercisable as of 12/31/2018
02/28/2008		BSPCE D		1,867		—		1,867		—		—		—		—
07/27/2010		BSPCE E		19,702		—		—		—		19,702		20,464		19,702
05/18/2015		Free shares		15,600		—		—		—		15,600		15,600		—
03/24/2015		Stock Options		1,749,055		—		—		18,409		1,730,646		1,730,646		1,622,458
03/27/2015		BSA		180,000		—		—		50,000		130,000		130,000		130,000
05/18/2015		BSA		50,000		—		—		—		50,000		50,000		50,000
09/08/2015		BSA		274,200		—		—		50,000		224,200		224,200		224,200
09/08/2015		Stock Options		1,802,000		—		—		32,000		1,770,000		1,770,000		1,438,098
03/14/2016		BSA		187,200		—		—		40,175		147,025		147,025		98,017
03/14/2016		Stock Options		1,945,948		—		127,828		32,849		1,785,271		1,785,271		1,192,064
10/28/2016		BSA		148,000		—		—		—		148,000		148,000		98,667
10/28/2016		Stock Options		2,615,601		—		191,740		54,172		2,369,689		2,369,689		1,093,924
10/11/2017		BSA		240,000		—		—		40,000		200,000		200,000		66,667
10/11/2017		Stock Options		1,220,000		—		—		37,500		1,182,500		1,182,500		297,500
10/08/2018		Free shares		—		43,000		—		—		43,000		43,000		—
10/08/2018		Stock Options		—		100,000		—		—		100,000		100,000		—
		Total		10,449,173		143,000		321,435		355,105		9,915,633		9,916,395		6,331,296

Schedule of Information Relating to Subsidiaries that Reported Non-Controlling Interest

The following table summarizes the information relating to each of our subsidiaries that reported non-controlling interest (“NCI”):


	CALYXT
	2017			2018
	$ in thousands
Revenue		747			236
Net Profit (Loss)		(18,837	)		(28,517	)

Net Profit (Loss) attributable to NCI		(4,315	)		(9,640	)

Other comprehensive income		(5,856	)		(5,373	)
Total comprehensive income		(24,693	)		(33,891	)

Total comprehensive income attributable to NCI		(4,723	)		(10,330	)

Current assets		59,753			97,735
Non-current assets		2,072			4,539
Current liabilities		3,027			5,460
Non-current liabilities		—			826

Net assets		64,852			95,987

Net assets attributable to NCI		13,145			29,257

Share-based payments (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Number of Shares Outstanding and Weighted Average Grant Date Fair Value

Information on restricted stock unit activity follows:


	Number of Restricted Stock Units Outstanding			Weighted-Average Grant Date Fair Value
Unvested balance at December 31, 2016		0		$	0.00
Granted		1,442,533		$	13.29
Vested		(39,200	)	$	13.29
Cancelled		(29,400	)	$	13.29

Unvested balance at December 31, 2017		1,373,933		$	13.29
Granted		315,825		$	16.68
Vested		(261,507	)	$	14.07
Cancelled		(376,837	)	$	13.30

Unvested balance at December 31, 2018		1,051,414		$	14.11

Summary of Vesting Details

The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:


	2016	2017	2018
Weighted-Average fair values of stock options granted	$1.11	$4.00	$9.09
Assumptions:
Risk-free interest rate	1.41%	1.96%	2.45% - 2.89%
Share entitlement per options	1	1	1
Exercise price	$3.59	$13.29	$14.24 - $23.39
Grant date share fair value	$3.59	$13.29	$14.24 - $23.39
Expected volatility	30%	25%	40.86% - 57.22%
Expected term (in years)	5.74	6.57	5.57 - 10.01
Vesting conditions	Service	Service	Service
Vesting period	Graded	Graded	Graded

Summary of Weighted-average Fair Values of Warrants Granted and Assumptions Used for Black-Scholes Option Pricing Model

The weighted-average fair values of warrants granted and the assumptions used for the Black-Scholes option pricing model were as follows:


	2016	2017
Weighted-Average fair values of warrants granted	9.33€	13.20€
Assumptions:
Risk-free interest rate	0.00% - 0.04%	0.12%
Share entitlement per options	1	1
Exercise price	18.68€ - 27.37€	24.34€

Grant date share fair value	16.42€ - 22.48€	24.95€

Expected volatility	62.8% - 63.1%	64.7%
Expected term (in years)	6.00	6.00
Vesting conditions	Service	Service
Vesting period	Graded	Graded

Equity awards [member]

Summary of Vesting Details

The weighted-average fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:


	2016	2017	2018

Weighted-Average fair values of stock options granted	10.53€	14.30€	8.89€
Assumptions:
Risk-free interest rate	0.00% - 0.03%	0.03%	0.13%
Share entitlement per options	1	1	1
Exercise price	17.90€ - 22.44€	22.57€	24.80€
Grant date share fair value	16.42€ - 22.48€	24.01€	17.78€
Expected volatility	62.8% - 63.2%	65.6%	63.3%
Expected term (in years)	6.11 - 6.12	6.12	6.25
Vesting conditions	Service	Service	Service
Vesting period	Graded	Graded	Graded

Stock options [member]

Summary of Information on Stock Option Activity

Information on stock option activity follows:


	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share		Remaining Average Useful Life
Balance as of December 31, 2016		1,355,680		33.75 €		8,436,255			25.43 €		9.09y
Granted		—		—		1,220,000			22.57 €
Exercised		—		—		(31,873	)		20.40 €
Forfeited or Expired		—		—		(291,778	)		22.19 €
Balance as of December 31, 2017		3,822,772		28.02 €		9,332,604			25.17 €		8.31y
Granted		—		—		100,000			24.80 €
Exercised		—		—		(319,568	)		19.72 €
Forfeited or Expired		—		—		(174,930	)		23.68 €
Balance as of December 31, 2018		5,644,044		27.47 €		8,938,106			25.39 €		7.32y

Warrants [member]

Summary of Information on Stock Option Activity

Information on warrants activity follows:


	Warrants Exercisable		Weighted- Average Exercise Price Per Share		Warrants Outstanding			Weighted- Average Exercise Price Per Share		Remaining Average Useful Life
Balance as of December 31, 2016		315,928		23.00 €		1,027,261			25.91 €		7.78y
Granted		—		—		240,000			24.34 €
Exercised		—		—		(126,179	)		13.75 €
Forfeited or Expired		—		—		(40,113	)		18.67 €

Balance as of December 31, 2017		469,436		28.80 €		1,100,969			27.23 €		8.20y
Granted		—		—		0			0.00 €
Exercised		—		—		(1,867	)		6.16 €
Forfeited or Expired		—		—		(180,175	)		29.95 €

Balance as of December 31, 2018		687,252		27.74 €		918,927			26.74 €		7.22y

S A free shares [member]

Summary of Number of Shares Outstanding and Weighted Average Grant Date Fair Value

Information on free shares activity follows:


	Number of Free shares Outstanding			Weighted- Average Grant Date Fair Value
Unvested balance at December 31, 2016		492,550			27.16 €
Granted		0			0.00 €
Vested		(466,950	)		27.11 €
Cancelled		(10,000	)		28.17 €

Unvested balance at December 31, 2017		15,600			28.17 €
Granted		43,000			17.78 €
Vested		0			0.00 €
Cancelled		0			0.00 €

Unvested balance at December 31, 2018		58,600			20.55 €

Stock options [member] | Calyxt Inc. [member]

Summary of Information on Stock Option Activity

Information on stock option activity follows:


	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share		Remaining Average Useful Life
Balance as of December 31, 2016		0	$	0.00		1,931,248		$	4.45		9.10y
Granted		—		—		2,104,999		$	13.29
Exercised		—		—		(68,780	)	$	4.03
Forfeited or Expired		—		—		(84,035	)	$	8.48

Balance as of December 31, 2017		1,244,968	$	5.20		3,883,432		$	9.16		8.84y
Granted		—		—		554,243		$	16.69
Exercised		—		—		(592,342	)	$	4.43
Forfeited or Expired		—		—		(643,446	)	$	12.52

Balance as of December 31, 2018		1,278,038	$	7.45		3,201,887		$	10.67		8.17y

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings per share

Detail of earnings per share


	For the year ended December 31,
	2016			2017			2018
Net income (loss) attributable to shareholders of Cellectis ($ in thousands)		(67,255	)		(99,368	)		(78,693	)

Adjusted weighted average number of outstanding shares, used to calculate both basic and diluted net result per share		35,274,890			35,690,636			40,774,197

Basic / Diluted net income (loss) per share ($ / share)
Basic net income (loss) per share ($ /share)		(1.91	)		(2.78	)		(1.93	)
Diluted net income (loss) per share ($ /share)		(1.91	)		(2.78	)		(1.93	)

Provisions (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Estimation of Retirement Indemnity to Employee

Details of Provisions

Details of provisions


	01/01/2017		Additions		Amounts used during the period			Reversals			OCI			12/31/2017
	$ in thousands
Pension		560		949		—			—			683			2,193
Loss on contract		—		1,876		—			—			—			1,876
Employee litigation and severance		121		29		(50	)		(108	)		9			1
Commercial litigation		468		552		(102	)		(215	)		79			782
Redundancy plan		6		—		—			—			1			7

Total		1,154		3,406		(152	)		(323	)		773			4,858

Non-current provisions		560		2,186		—			—			683			3,430
Current provisions		594		1,220		(152	)		(323	)		89			1,427

	01/01/2018		Additions		Amounts used during the period			Reversals			OCI			12/31/2018
	$ in thousands
Pension		2,193		314		(54	)		—			(175	)		2,278
Loss on contract		1,876		—		(834	)		—			1			1,043
Employee litigation and severance		1		43		—			(1	)		(2	)		41
Commercial litigation		782		646		—			(570	)		(8	)		850
Redundancy plan		7		—		—			(6	)		(1	)		—

Total		4,858		1,003		(888	)		(577	)		(186	)		4,211

Non-current provisions		3,430		314		(888	)		—			(175	)		2,681
Current provisions		1,427		688		—			(577	)		(11	)		1,528

As part of the estimation of the retirement indemnity to employee, the following assumptions were used for all categories of employees:


	2016	2017	2018
% social security contributions	45.00%	45.00%	45.00%
Salary increases	2.00%	3.50%	3.50%
Discount rate	1.75%	1.75%	1.75%
Terms of retirement	voluntary retirement
Retirement age	65 years old	65 years old	65 years old

Summary of Net Defined Benefit Liability and Components

The following table shows reconciliation from the opening balances to the closing balances for net defined benefit liability and its components.


	$ in thousands
As of January 1, 2016		(477	)

Current service cost		(65	)
Interest cost		(9	)
Actuarial gains and losses		(31	)
Reclassification/CTA		20
As of December 31, 2016		(562	)

Current service cost		(925	)
Interest cost		(24	)
Actuarial gains and losses		(515	)
Reclassification/CTA		(168	)
As of December 31, 2017		(2,194	)

Current service cost		(276	)
Interest cost		(38	)
Benefit paid		54
Actuarial gains and losses		70
Reclassification/CTA		105
As of December 31, 2018		(2,279	)

Commitments (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of changes in accounting estimates [line items]

Details of commitments

Details of commitments


As of December 31, 2018	Total		Less than 1 year		1 - 3 years		3 - 5 years		More than 5 years
	$ in thousands
Sale and lease-back agreement		30,047		1,423		2,864		2,852		22,908
Facility lease agreements		27,188		1,651		7,411		8,193		9,933
License agreements		18,093		1,237		2,474		2,474		11,907
Manufacturing agreements		10,293		10,293		—		—		—
Other agreements		12,356		7,754		4,602		—		—

Total contractual obligations		97,977		22,359		17,350		13,519		44,749

Accounting Principles - Additional Information (Detail)

12 Months Ended

May 22, 2018

USD ($)

$ / shares

Jul. 25, 2017

USD ($)

$ / shares

Dec. 31, 2018

USD ($)

$ / shares

Dec. 31, 2017

USD ($)

$ / shares

Dec. 31, 2016

USD ($)

Subsidiaries

$ / shares

Jan. 01, 2018

USD ($)

Jan. 01, 2017

USD ($)

Jan. 01, 2016

USD ($)

Dec. 31, 2015

USD ($)

$ / shares

Equity adjustment

$ 450,272,000

$ 283,985,000

^[1]

$ 272,984,000

^[1]

$ 285,904,000

$ 274,671,000

$ 285,260,000

^[1]

Par value per share | $ / shares

$ 0.05

Number of subsidiaries | Subsidiaries

Non-controlling shareholders interest

30.50%

20.30%

Bottom of Range [member]

Disclosure of changes in accounting estimates [line items]

Increase in right of used assets

$ 35,000,000

Top of Range [member]

Disclosure of changes in accounting estimates [line items]

Increase in right of used assets

$ 45,000,000

Cellectis [member]

Disclosure of changes in accounting estimates [line items]

Ownership interest in subsidiary

100.00%

Calyxt Inc [member]

Disclosure of changes in accounting estimates [line items]

Ownership interest in subsidiary

69.50%

79.70%

Gross proceeds

$ 57,000,000

$ 64,400,000

$ 58,000,000

Common stock sold | shares

4,057,500

8,050,000

Par value per share | $ / shares

$ 15.00

$ 8

Shares to underwriters

$ 20,000,000

Selling price per common share | $ / shares

$ 15.00

Common stock for exercising underwriters' option | shares

457,500

Underwriting discounts and commissions

$ 3,200,000

$ 3,100,000

Offering expense

$ 700,000

Non-controlling shareholders interest

30.50%

20.30%

Calyxt Inc [member] | Cellectis [member]

Disclosure of changes in accounting estimates [line items]

Purchase of common stock | shares

550,000

Purchase of common stock, value

$ 8,300,000

Increase (Decrease) Due to Application of IFRS 15 [member]

Disclosure of changes in accounting estimates [line items]

Equity adjustment

$ (1,919,000)

$ (1,686,000)

$ (1,919,000)

$ (1,686,000)

(1,742,000)

Adjustments [member] | Increase (Decrease) Due to Application of IFRS 15 [member]

Disclosure of changes in accounting estimates [line items]

Equity adjustment

$ 1,700,000

[1]	2017 consolidated financial statements have been restated for the purpose of IFRS15 application. Reconciliation between the consolidated financial statements presented in previous periods and the 2018 consolidated financial statements is available in Note 2.3.

Accounting Principles - Summary of Presentation Currency of the Financial Statements (Detail)
€ in Thousands, $ in Thousands

Dec. 31, 2018

USD ($)

Jan. 01, 2018

USD ($)

Dec. 31, 2017

USD ($)

Jan. 01, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2016

EUR (€)

Jan. 01, 2016

USD ($)

Dec. 31, 2015

USD ($)

^[1]

Disclosure of classes of share capital [line items]

Total non-currentassets

$ 13,199

$ 9,661

$ 18,935

$ 7,451

487,641

323,221

312,497

363,863

500,840

332,882

331,432

371,314

Premiums, Retained earnings (deficit) and Net income (loss)

2,765

2,367

2,332

2,323

293,054

(297)

(416)

(279)

(16,668)

1,834

(22,174)

(17,819)

409,301

264,872

272,795

284,471

Total shareholders' equity

40,970

19,113

1,875

789

450,272

$ 285,904

283,985

^[1]

$ 274,671

272,984

^[1]

285,260

$ 285,260

Total non-currentliabilities

3,699

3,443

590

548

46,869

45,453

56,171

85,506

Consolidated Financial Statement as Reported [member]

$ 500,840

$ 332,882

331,432

$ 371,314

Disclosure of classes of share capital [line items]

Total non-currentassets

18,935

€ 17,963

312,497

296,459

331,432

314,422

Premiums, Retained earnings (deficit) and Net income (loss)

1,862

1,767

268,622

254,834

(324)

(307)

2,636

2,501

272,795

258,795

Total shareholders' equity

1,875

1,779

274,671

260,574

Total non-currentliabilities

590

560

56,171

53,288

Disclosure of classes of share capital [line items]

331,432

€ 314,422

Adjustments [member]

Premiums, Retained earnings (deficit) and Net income (loss)

470

24,432

(92)

Disclosure of classes of share capital [line items]

$ (24,810)

[1]	2017 consolidated financial statements have been restated for the purpose of IFRS15 application. Reconciliation between the consolidated financial statements presented in previous periods and the 2018 consolidated financial statements is available in Note 2.3.

Accounting Principles - Summary of Net Income (Loss) (Detail) € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 USD ($)	Dec. 31, 2015 EUR (€)
Disclosure of classes of share capital [line items]
Total revenues and other income	$ 21,432	$ 33,715	$ 56,444		$ 62,565
Total operating expenses	(126,523)	(126,366)	(123,746)		(93,549)
Operating income (loss)	(105,091)	(92,650)	(67,302)		(30,984)
Financial gain (loss)	16,758	(11,032)	46		8,378
Income tax	0	0	0		0
Income (loss) from continuing operations	(88,333)	(103,683)	(67,255)		(22,606)
Loss from discontinued operations	0	0	0		0
Net income (loss)	$ (88,333)	$ (103,683)	(67,255)		(22,606)
Consolidated Financial Statement as Reported [member]
Disclosure of classes of share capital [line items]
Total revenues and other income			56,444	€ 51,007	62,565	€ 56,385
Total operating expenses			(123,746)	(111,824)	(93,549)	(84,309)
Operating income (loss)			(67,302)	(60,818)	(30,984)	(27,924)
Financial gain (loss)			46	42	8,378	7,550
Income tax			0	0	0	0
Income (loss) from continuing operations			(67,255)	(60,776)	(22,606)	(20,373)
Loss from discontinued operations			0	0	0	0
Net income (loss)			(67,255)	€ (60,776)	(22,606)	€ (20,373)
Adjustments [member]
Disclosure of classes of share capital [line items]
Income tax			0		0
Loss from discontinued operations			$ 0		$ 0

Accounting Principles - Summary of Revenue from Contract with Customers of the Financial Statements (Detail) - USD ($)
$ in Thousands

Dec. 31, 2018

Jan. 01, 2018

Dec. 31, 2017

Jan. 01, 2017

Dec. 31, 2016

Jan. 01, 2016

Dec. 31, 2015

Total non-current assets

$ 13,199

$ 9,661

$ 18,935

$ 7,451

20,754

27,975

40,615

61,357

Total Deferred revenue and contract liabilities

487,641

323,221

312,497

363,863

20,754

27,975

40,615

61,357

Premiums related to the share capital

500,840

332,882

331,432

371,314

Share capital

2,765

2,367

2,332

2,323

828,525

614,037

568,185

509,938

$ 509,938

(297)

(416)

(279)

(16,668)

1,834

(22,174)

(17,819)

(326,628)

(253,702)

(209,650)

(185,120)

(78,693)

(99,368)

(67,255)

(24,571)

409,301

264,872

272,795

284,471

40,970

19,113

1,875

789

Total non-current liabilities

450,272

$ 285,904

283,985

^[1]

$ 274,671

272,984

^[1]

285,260

^[1]

3,699

3,443

590

548

Current financial liabilities

333

1,730

2,091

Trade payables

15,883

9,460

9,722

7,197

20,754

27,975

40,615

61,357

Current provisions

1,530

1,427

594

1,038

8,369

6,570

5,196

13,823

46,869

45,453

56,171

85,506

Share Capital Ordinary Shares [member]

500,840

332,882

331,432

371,314

Disclosure of classes of share capital [line items]

Disclosure of classes of share capital [line items]

$ 2,765

$ 2,367

^[1]

$ 2,332

^[1]

$ 2,323

^[1]

Equity, shares

42,430,069

35,960,062

^[1]

35,335,060

^[1]

35,178,614

^[1]

Disclosure of classes of share capital [line items]

$ 828,525

$ 614,037

^[1]

$ 568,185

^[1]

$ 509,938

^[1]

Treasury Shares [member]

Currency Translation Adjustment [member]

(297)

^[1]

(416)

^[1]

(279)

^[1]

Disclosure of classes of share capital [line items]

Retained Earnings (Deficit) [member]

(16,668)

1,978

1,835

^[1]

(22,174)

(22,085)

^[1]

(17,853)

(17,819)

^[1]

Disclosure of classes of share capital [line items]

Disclosure of classes of share capital [line items]

(326,628)

(251,927)

(253,702)

^[1]

(207,875)

(209,651)

^[1]

(185,120)

^[1]

Income (Loss) [member]

Attributable to Shareholders of Cellectis [member]

(78,693)

(99,368)

^[1]

(67,255)

^[1]

(22,796)

(24,571)

^[1]

Disclosure of classes of share capital [line items]

Non controlling Interests [member]

409,301

266,791

264,873

^[1]

272,795

271,109

^[1]

286,212

284,471

^[1]

Disclosure of classes of share capital [line items]

Previously stated [member]

$ 40,970

19,113

^[1]

1,876

^[1]

789

$ 789

^[1]

Disclosure of classes of share capital [line items]

Total non-current assets

9,661

18,935

7,451

26,056

38,929

59,615

Total Deferred revenue and contract liabilities

323,221

312,498

363,863

26,056

38,929

59,615

Premiums related to the share capital

332,882

331,432

371,314

Share capital

2,367

2,332

2,323

614,037

568,185

509,938

(297)

(416)

(279)

1,978

(22,085)

(17,853)

(251,927)

(207,875)

(185,120)

(99,368)

(67,255)

(22,796)

266,791

272,795

286,212

19,113

1,876

789

Total non-current liabilities

283,986

285,904

272,984

274,671

287,002

3,443

590

548

Current financial liabilities

1,730

2,091

Trade payables

9,460

9,722

7,197

26,056

38,929

59,615

Current provisions

1,427

594

1,038

6,570

5,196

13,823

43,534

56,171

83,765

Previously stated [member] | Share Capital Ordinary Shares [member]

332,882

331,432

371,314

Disclosure of classes of share capital [line items]

Previously stated [member] | Premiums Related to Share Capital [member]

$ 2,367

$ 2,332

$ 2,323

Equity, shares

35,960,062

35,335,060

35,178,614

Disclosure of classes of share capital [line items]

Previously stated [member] | Treasury Shares [member]

$ 614,037

$ 568,185

$ 509,938

Disclosure of classes of share capital [line items]

Previously stated [member] | Currency Translation Adjustment [member]

(297)

(416)

(279)

Disclosure of classes of share capital [line items]

Previously stated [member] | Retained Earnings (Deficit) [member]

1,835

(22,085)

(17,819)

Disclosure of classes of share capital [line items]

Previously stated [member] | Income (Loss) [member]

(253,702)

(209,651)

(185,120)

Disclosure of classes of share capital [line items]

Previously stated [member] | Attributable to Shareholders of Cellectis [member]

(99,368)

(67,255)

(24,571)

Disclosure of classes of share capital [line items]

Previously stated [member] | Non controlling Interests [member]

264,873

271,109

284,471

Disclosure of classes of share capital [line items]

Increase (Decrease) Due to Application of IFRS 15 [member]

19,113

1,876

789

Disclosure of classes of share capital [line items]

Total Deferred revenue and contract liabilities

1,919

1,686

1,742

1,919

1,686

1,742

(144)

(1,775)

(1,775)

(1,919)

(1,686)

(1,742)

(1,919)

(1,686)

(1,742)

1,919

1,686

1,742

Increase (Decrease) Due to Application of IFRS 15 [member] | Currency Translation Adjustment [member]

$ 1,919

$ 1,686

1,742

Disclosure of classes of share capital [line items]

Increase (Decrease) Due to Application of IFRS 15 [member] | Retained Earnings (Deficit) [member]

(143)

Disclosure of classes of share capital [line items]

Increase (Decrease) Due to Application of IFRS 15 [member] | Income (Loss) [member]

(1,775)

Disclosure of classes of share capital [line items]

Increase (Decrease) Due to Application of IFRS 15 [member] | Attributable to Shareholders of Cellectis [member]

(1,775)

Disclosure of classes of share capital [line items]

Disclosure of classes of share capital [line items]

$ (1,919)

$ (1,686)

$ (1,742)

[1]	2017 consolidated financial statements have been restated for the purpose of IFRS15 application. Reconciliation between the consolidated financial statements presented in previous periods and the 2018 consolidated financial statements is available in Note 2.3.

Information Concerning the Group's Consolidated Operations - Revenues by Country of Origin and Other Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of revenue [line items]
Revenues	$ 12,731	$ 25,188	$ 44,808
Research tax credit	8,561	8,327	10,038
Subsidies and other	140	201	1,599
Other income	8,701	8,528	11,637
Total revenues and other income	21,432	33,715	56,444	$ 62,565
France [member]
Disclosure of revenue [line items]
Revenues	12,495	24,680	44,409
United States [member]
Disclosure of revenue [line items]
Revenues	$ 236	$ 508	$ 399

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_28_a&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_23_a&doctype=Standard
-URIDate 2017-03-09

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_32&doctype=Standard
-URIDate 2017-03-09

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_33_a&doctype=Standard
-URIDate 2017-03-09

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
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-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_34&doctype=Standard
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Note Expiry date 2018-01-01
-Name IAS
-Number 18
-IssueDate 2017-01-01
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
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-Clause v
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+ Details

Information Concerning the Group's Consolidated Operations - Revenues by Nature (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of revenue [line items]
Other revenues	$ 140	$ 201	$ 1,599
Total revenues	12,731	25,188	44,808
Calyxt Inc and Cellectis BioResearch Inc [member]
Disclosure of revenue [line items]
Recognition of previously deferred upfront payments	7,114	14,875	20,856
Other revenues	3,383	7,945	21,035
Collaboration agreements	10,497	22,821	41,891
Licenses	2,142	2,270	2,771
Products & services	92	97	145
Total revenues	$ 12,731	$ 25,188	$ 44,808

- Definition

+ References

+ Details

Information Concerning the Group's Consolidated Operations - Additional Information (Detail)			12 Months Ended
	Dec. 31, 2017	Dec. 22, 2017	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2014 Agreement
Consolidated operations [line items]
Number of collaboration agreements \| Agreement						2
Decrease (increase) in financial income and expenses			$ (27,800,000)	$ 11,100,000
Increase in net foreign exchange (loss) gain			27,000,000	(17,200,000)
Increase in interest income			4,800,000	300,000
Foreign exchange derivatives fair value adjustment			$ 4,000,000	$ 5,800,000
Tax rate			23.66%	34.43%	34.43%
Credits and net operating loss carryforwards			$ (65,555,000)	$ (51,640,000)	$ (41,985,000)
Carryforwards limit that can be offset against future taxable profit, additional percentage of profit exceeding the limit			50.00%
Tax loss carryforward expiration period			2032 or after
Expiration Period [member]
Consolidated operations [line items]
Credits and net operating loss carryforwards			$ 32,000,000
France [member]
Consolidated operations [line items]
Anticipated foreign tax rate			25.00%
Top of Range [member]
Consolidated operations [line items]
Carryforwards limit that can be offset against future taxable profit			$ 1,000,000
France [member]
Consolidated operations [line items]
Credits and net operating loss carryforwards			186,000,000	144,000,000	87,000,000
United States [member]
Consolidated operations [line items]
Credits and net operating loss carryforwards			86,000,000	62,000,000	42,000,000
US Subsidiaries [member]
Consolidated operations [line items]
Tax rate	21.00%	34.00%
Calyxt Inc and Cellectis BioResearch Inc [member]
Consolidated operations [line items]
Revenues from technology licenses			$ 300,000	$ 500,000	$ 600,000
Client A [member]
Consolidated operations [line items]
Percentage of Revenue			55.00%	11.00%	37.00%
Client B [member]
Consolidated operations [line items]
Percentage of Revenue			21.00%	69.00%	57.00%

Information Concerning the Group's Consolidated Operations - Details of Operating Expenses by Nature (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Expense by nature [line Items]
Royalty expenses	$ (2,739)	$ (2,620)	$ (1,777)
Non-cash stock based compensation expense	34,563	48,924	58,622
Personnel expenses	(28,507)		(58,622)
Total research and development expenses	(76,567)	(79,227)	(78,458)
Total selling, general and administrative expenses	(47,248)	(44,750)	(43,413)
Research and Development Expenses [member]
Expense by nature [line Items]
Royalty expenses	(2,739)	(2,620)	(1,777)
Wages and salaries	16,452	12,986	11,924
Social charges on free shares and stock option grants	99	1,088	3,851
Non-cash stock based compensation expense	18,057	23,832	33,207
Personnel expenses	34,608	37,906	48,982
Purchases and external expenses	(40,458)	(38,458)	(27,720)
Other	(1,501)	(2,863)	(1,756)
Selling, General and Administrative Expenses [member]
Expense by nature [line Items]
Wages and salaries	11,373	7,019	4,978
Social charges on free shares and stock option grants	29	881	3,130
Non-cash stock based compensation expense	19,161	26,586	25,415
Personnel expenses	30,563	34,486	33,523
Purchases and external expenses	(14,251)	(9,138)	(8,854)
Other	(2,433)	(1,126)	(1,035)
Personnel Expenses [member]
Expense by nature [line Items]
Wages and salaries	(27,825)	(20,005)	(16,902)
Social charges on free shares and stock option grants	(128)	(1,969)	(6,981)
Non-cash stock based compensation expense	(37,218)	(50,418)	(58,622)
Personnel expenses	$ (65,171)	$ (72,392)	$ (82,505)

Information Concerning the Group's Consolidated Operations - Details of Financial Income and Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finance income expense [abstract]
Interest income	$ 6,787	$ 1,974	$ 1,630
Foreign exchange gain	13,597	1,185	4,832
Other financial revenues	188	4,102	689
Total financial revenues	20,572	7,262	7,147
Interest expenses	(39)
Interest expenses for finance lease	(7)	(4)	(7)
Foreign exchange loss	(3,090)	(17,734)	(4,201)
Other financial expenses	(677)	(556)	(2,895)
Total financial expenses	(3,813)	(18,294)	(7,101)
Total	$ 16,758	$ (11,032)	$ 46

Information Concerning the Group's Consolidated Operations - Disclosure of Income Tax (Expense or Income) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Major components of tax expense (income) [abstract]
Income (loss) before taxes from continuing operations	$ (88,333)	$ (103,683)	$ (67,255)
Theoretical group tax rate	23.66%	34.43%	34.43%
Theoretical tax benefit (expense)	$ 20,901	$ 35,698	$ 23,156
Permanent differences	832	293	124
Research tax credit	2,079	2,926	3,082
Share-based compensation & other IFRS adjustments	(8,065)	(8,297)	(20,184)
Non recognition of deferred tax assets related to tax losses and temporary differences	(15,652)	(30,713)	(6,158)
Other differences	(95)	92	(20)
Effective tax expense	$ 0	$ 0	$ 0	$ 0
Effective tax rate	0.00%	0.00%	0.00%

Information Concerning the Group's Consolidated Operations - Disclosure of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Changes in deferred tax liability (asset) [abstract]
Credits and net operating loss carryforwards	$ 65,555	$ 51,640	$ 41,985
Pension commitments	569	548	193
Leases	(4)	(12)	(54)
Impairment of assets	10	10	14
Revenue recognition	200
Other	491	604	894
Valuation allowance on deferred tax assets	(66,823)	(52,790)	(43,032)
Total	$ 0	$ 0	$ 0

Information Concerning the Group's Consolidated Operations - Summary of Key Performance Indicators by Reportable Segments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [line items]
External revenues	$ 21,432	$ 33,715	$ 56,444	$ 62,565
Royalty expenses	(2,739)	(2,620)	(1,777)
Research and development expenses	(76,567)	(79,227)	(78,458)
Selling, general and administrative expenses	(47,248)	(44,750)	(43,413)
Other operating income and expenses	31	232	(99)
Total operating expenses	(126,523)	(126,366)	(123,746)	(93,549)
Operating income (loss) before tax	(105,091)	(92,650)	(67,302)	(30,984)
Financial gain (loss)	16,758	(11,032)	46
Income (loss) from continuing operations	(88,333)	(103,683)	(67,255)	(22,606)
Net income (loss) from discontinued operations	0	0	0	$ 0
Non controlling interests	9,640	4,315
Net income (loss) attributable to shareholders of Cellectis	(78,693)	(99,368)	(67,255)
Adjustment of share-based compensation attributable to shareholders of Cellectis	34,563	48,924	58,622
Adjusted net income (loss) attributable to shareholders of Cellectis	(44,130)	(50,443)	(8,633)
Depreciation and amortization	(2,377)	(3,371)	(2,211)
Additions to tangible and intangible assets	4,911	2,642	14,573
Impairment of tangible assets	(2,091)	(3,140)	(1,986)
Research and Development [member]
Disclosure of operating segments [line items]
Adjustment of share-based compensation attributable to shareholders of Cellectis	17,689	23,590	33,208
Selling, General and Administration [member]
Disclosure of operating segments [line items]
Adjustment of share-based compensation attributable to shareholders of Cellectis	16,873	25,335	25,414
Plants [member]
Disclosure of operating segments [line items]
Royalty expenses	(595)	(390)	(468)
Research and development expenses	(8,638)	(6,057)	(4,112)
Selling, general and administrative expenses	(21,067)	(13,143)	(4,809)
Other operating income and expenses	(50)	6	(6)
Total operating expenses	(30,351)	(19,584)	(9,395)
Operating income (loss) before tax	(29,937)	(18,837)	(8,810)
Financial gain (loss)	1,420		87
Income (loss) from continuing operations	(28,517)	(18,837)	(8,722)
Net income (loss) from discontinued operations	0	0	0
Non controlling interests	9,640	4,315
Net income (loss) attributable to shareholders of Cellectis	(18,877)	(14,522)	(8,722)
Adjustment of share-based compensation attributable to shareholders of Cellectis	6,056	5,957	1,098
Adjusted net income (loss) attributable to shareholders of Cellectis	(12,821)	(8,565)	(7,625)
Depreciation and amortization	(637)	(551)	(345)
Additions to tangible and intangible assets	1,871	792	10,410
Plants [member] \| Research and Development [member]
Disclosure of operating segments [line items]
Adjustment of share-based compensation attributable to shareholders of Cellectis	838	967	477
Plants [member] \| Selling, General and Administration [member]
Disclosure of operating segments [line items]
Adjustment of share-based compensation attributable to shareholders of Cellectis	5,218	4,990	621
Therapeutics [member]
Disclosure of operating segments [line items]
Royalty expenses	(2,144)	(2,230)	(1,309)
Research and development expenses	(67,929)	(73,170)	(74,345)
Selling, general and administrative expenses	(26,180)	(31,607)	(38,603)
Other operating income and expenses	81	225	(93)
Total operating expenses	(96,172)	(106,782)	(114,351)
Operating income (loss) before tax	(75,154)	(73,813)	(58,492)
Financial gain (loss)	15,339	(11,032)	(41)
Income (loss) from continuing operations	(59,816)	(84,846)	(58,533)
Net income (loss) from discontinued operations	0	0	0
Net income (loss) attributable to shareholders of Cellectis	(59,816)	(84,846)	(58,533)
Adjustment of share-based compensation attributable to shareholders of Cellectis	28,507	42,967	57,524
Adjusted net income (loss) attributable to shareholders of Cellectis	(31,309)	(41,877)	(1,009)
Depreciation and amortization	(1,740)	(2,820)	(1,866)
Additions to tangible and intangible assets	3,040	1,849	4,164
Therapeutics [member] \| Research and Development [member]
Disclosure of operating segments [line items]
Adjustment of share-based compensation attributable to shareholders of Cellectis	16,852	22,623	32,731
Therapeutics [member] \| Selling, General and Administration [member]
Disclosure of operating segments [line items]
Adjustment of share-based compensation attributable to shareholders of Cellectis	11,655	20,345	24,793
Operating Segments [member]
Disclosure of operating segments [line items]
External revenues	12,731	25,188	44,808
Operating Segments [member] \| Plants [member]
Disclosure of operating segments [line items]
External revenues	236	508	399
Operating Segments [member] \| Therapeutics [member]
Disclosure of operating segments [line items]
External revenues	12,495	24,680	44,409
Inter-segment Revenues [member]
Disclosure of operating segments [line items]
External revenues	8,701	8,528	11,637
Inter-segment Revenues [member] \| Plants [member]
Disclosure of operating segments [line items]
External revenues	178	239	186
Inter-segment Revenues [member] \| Therapeutics [member]
Disclosure of operating segments [line items]
External revenues	8,523	8,290	11,450
Cellectis [member]
Disclosure of operating segments [line items]
External revenues	21,432	33,715	56,444
Cellectis [member] \| Plants [member]
Disclosure of operating segments [line items]
External revenues	414	747	585
Cellectis [member] \| Therapeutics [member]
Disclosure of operating segments [line items]
External revenues	$ 21,018	32,969	$ 55,859
Assets Under Construction [member]
Disclosure of operating segments [line items]
Impairment of tangible assets		(798)
Assets Under Construction [member] \| Therapeutics [member]
Disclosure of operating segments [line items]
Impairment of tangible assets		$ (798)

Information Concerning the Group's Consolidated Operations - Summary of Reconciliation of Plant Segment Result of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [line items]
External revenues and other income	$ 21,432	$ 33,715	$ 56,444	$ 62,565
Research and development expenses	(76,567)	(79,227)	(78,458)
Selling, general and administrative expenses	(47,248)	(44,750)	(43,413)
Royalties and other operating income and expenses	31	232	(99)
Operating income (loss) before tax	(88,333)	(103,683)	(67,255)
Financial gain (loss)	16,758	(11,032)	46	8,378
Net income (loss)	(88,333)	(103,683)	(67,255)	$ (22,606)
Cellectis Consolidated Financial Statements Reportable Segments Note (IFRS) [member]
Disclosure of operating segments [line items]
External revenues and other income	414	747	585
Research and development expenses	(8,638)	(6,057)	(4,112)
Selling, general and administrative expenses	(21,067)	(13,143)	(4,809)
Royalties and other operating income and expenses	(645)	(384)	(474)
Total operating expenses	(30,350)	(19,584)	(9,395)
Operating income (loss) before tax	(29,937)	(18,837)	(8,810)
Financial gain (loss)	1,420		87
Net income (loss)	(28,517)	(18,837)	(8,722)
Intersegment Transactions [member]
Disclosure of operating segments [line items]
External revenues and other income		167	131
Selling, general and administrative expenses	(3,090)	(2,501)	(3,443)
Royalties and other operating income and expenses	(71)	(114)	(155)
Total operating expenses	(3,161)	(2,615)	(3,598)
Operating income (loss) before tax	(3,161)	(2,448)	(3,468)
Financial gain (loss)	51	(1)	(64)
Net income (loss)	(3,110)	(2,449)	(3,532)
Reclassifications [member]
Disclosure of operating segments [line items]
External revenues and other income	(177)	(405)	(317)
Research and development expenses	(1,783)	(563)	(1,058)
Selling, general and administrative expenses	1,245	436	945
Royalties and other operating income and expenses	716	504	430
Total operating expenses	177	378	317
Operating income (loss) before tax		(27)
Financial gain (loss)		27
Other [member]
Disclosure of operating segments [line items]
External revenues and other income		(1)
Research and development expenses		16	(17)
Selling, general and administrative expenses	657	157	37
Royalties and other operating income and expenses		(7)	(1)
Total operating expenses	657	166	19
Operating income (loss) before tax	657	165	19
Financial gain (loss)	(1,244)	(218)	(1)
Net income (loss)	(587)	(53)	18
Non Cash Stock-based Compensation Booked in IFRS [member]
Disclosure of operating segments [line items]
Research and development expenses	1,205	1,134	477
Selling, general and administrative expenses	7,506	6,316	621
Total operating expenses	8,711	7,450	1,098
Operating income (loss) before tax	8,711	7,450	1,098
Net income (loss)	8,711	7,450	1,098
Non Cash Stock-based Compensation in US GAAP [member]
Disclosure of operating segments [line items]
Research and development expenses	(630)	(6,086)	(928)
Selling, general and administrative expenses	(3,756)	(6,006)	(20)
Total operating expenses	(4,386)	(12,092)	(948)
Operating income (loss) before tax	(4,386)	(12,092)	(948)
Net income (loss)	(4,386)	(12,092)	(948)
Calyxt Stand Alone Financial Statements (US GAAP) [member]
Disclosure of operating segments [line items]
External revenues and other income	236	508	399
Research and development expenses	(9,846)	(11,556)	(5,638)
Selling, general and administrative expenses	(18,505)	(14,741)	(6,670)
Royalties and other operating income and expenses			(200)
Total operating expenses	(28,351)	(26,297)	(12,508)
Operating income (loss) before tax	(28,115)	(25,789)	(12,109)
Financial gain (loss)	218	(191)	23
Net income (loss)	$ (27,897)	$ (25,980)	$ (12,086)

Impairment Tests - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment of assets	$ 0		$ 0
New Jersey [member] \| Discontinue Lease Facility [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment of assets		$ 800,000

Intangible Assets - Additional Information (Detail)	12 Months Ended
Intangible Assets - Additional Information (Detail)	Dec. 31, 2016
Computer Software [member] \| Bottom of Range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives	1 year
Computer Software [member] \| Top of Range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives	3 years
Patents [member] \| Top of Range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives	20 years

Intangible Assets - Details Information About Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]
Beginning balance	$ 1,431	$ 1,343	$ 1,041
Change in scope			0
Additions to intangible assets	117	141	652
Disposal of intangible assets	(7)		(74)
Depreciation expense	(217)	(231)	(226)
Translation adjustments	(61)	178	(49)
Ending balance	1,268	1,431	1,343
Gross value at end of period	3,146	3,190	2,675
Accumulated depreciation and impairment at end of period	(1,878)	(1,759)	1,332
Software and Patents [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	811	924	1,041
Change in scope			0
Additions to intangible assets	14	6	212
Disposal of intangible assets	(7)		(74)
Depreciation expense	(217)	(231)	(226)
Translation adjustments	(30)	112	(28)
Ending balance	577	811	924
Gross value at end of period	2,454	2,571	2,256
Accumulated depreciation and impairment at end of period	(1,878)	(1,759)	1,332
Assets Under Construction [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	619	419
Change in scope			0
Additions to intangible assets	103	135	439
Translation adjustments	(31)	66	(21)
Ending balance	691	619	419
Gross value at end of period	$ 691	$ 517	$ 419

Property, Plant and Equipment - Summary of Property Plant and Equipment Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2018
Buildings and Other Outside Improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	10-20 years
Leasehold Improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5-10 years
Office Furniture [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	10 years
Laboratory Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	3-10 years
Office Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years
IT Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	3 years

Property, Plant and Equipment - Disclosure of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	$ 7,226	$ 16,900	$ 5,490
Additions to tangible assets	6,263	2,501	13,704
Disposal of tangible assets	(1,164)	(9,453)	(186)
Reclassification	(6)
Depreciation expense	(2,091)	(3,140)	(1,986)
Translation adjustments	(188)	418	(122)
Ending balance	10,041	7,226	16,900
Gross value at end of period	26,160	22,103	27,721
Accumulated depreciation and impairment at end of period	(16,119)	14,877	10,821
Land and Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	3,159	12,436	2,072
Additions to tangible assets	879	718	11,164
Disposal of tangible assets		(9,243)
Reclassification	39	14
Depreciation expense	(758)	(972)	(741)
Translation adjustments	(90)	206	(59)
Ending balance	3,229	3,159	12,436
Gross value at end of period	7,604	6,936	15,085
Accumulated depreciation and impairment at end of period	(4,375)	3,777	2,649
Technical Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,505	2,858	2,897
Additions to tangible assets	1,622	701	1,076
Disposal of tangible assets	(49)	(103)	(3)
Reclassification	216	47	3
Depreciation expense	(854)	(1,126)	(1,077)
Translation adjustments	(46)	127	(38)
Ending balance	3,393	2,505	2,858
Gross value at end of period	13,297	12,114	10,634
Accumulated depreciation and impairment at end of period	(9,903)	9,609	7,775
Fixtures, Fittings and Other Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	753	707	340
Additions to tangible assets	1,820	203	562
Disposal of tangible assets	(690)	2	(1)
Reclassification	793	18	(3)
Depreciation expense	(478)	(245)	(167)
Translation adjustments	(27)	68	(23)
Ending balance	2,172	753	707
Gross value at end of period	3,215	1,447	1,104
Accumulated depreciation and impairment at end of period	(1,043)	693	397
Assets Under Construction [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	809	898	182
Additions to tangible assets	1,942	878	902
Disposal of tangible assets	(426)	(109)	(183)
Reclassification	(1,053)	(79)
Depreciation expense		(798)
Translation adjustments	(25)	18	(4)
Ending balance	1,247	809	898
Gross value at end of period	2,045	1,606	$ 898
Accumulated depreciation and impairment at end of period	$ (798)	$ 798

Property, Plant and Equipment - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 EUR (€)
Disclosure of detailed information about property, plant and equipment [line items]
Assets pledged as security for financial liabilities \| €				€ 0
Additions to tangible assets	$ 6,263	$ 2,501	$ 13,704
Calyxt Inc. [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value of assets sold		$ 9,200
Additions to tangible assets	2,500
Other equipment	1,800
Cellectis [member] \| Raw material manufacturing facility [member] \| Paris [member]
Disclosure of detailed information about property, plant and equipment [line items]
Additions to tangible assets	300
Cellectis [member] \| Raw material manufacturing facility [member] \| United States [member]
Disclosure of detailed information about property, plant and equipment [line items]
Additions to tangible assets	$ 300

Property, Plant and Equipment - Details of Finance Lease (Detail) - Property, Plant and Equipment [member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Disclosure of recognised finance lease as assets by lessee [line items]
Net	$ 1,360	$ 82
Gross Value [member]
Disclosure of recognised finance lease as assets by lessee [line items]
Net	5,689	4,448
Accumulated Depreciation [member]
Disclosure of recognised finance lease as assets by lessee [line items]
Net	$ (4,329)	$ (4,366)

Financial Assets and Liabilities - Summary of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	$ 451,508	$ 296,982
Accounting category amortized cost	22,416	13,281
Book value on the statement of financial position	473,924	310,263
Fair value	473,924	310,263
Accounting category fair value through profit and loss	0	0
Accounting category amortized cost	25,603	16,064
Book value on the statement of financial position	25,603	16,064
Fair value	25,603	16,064
Non-Current Financial Assets [member]
Disclosure of financial assets and liabilities [line items]
Accounting category amortized cost	1,891	1,004
Book value on the statement of financial position	1,891	1,004
Fair value	1,891	1,004
Trade Receivables [member]
Disclosure of financial assets and liabilities [line items]
Accounting category amortized cost	2,971	2,753
Book value on the statement of financial position	2,971	2,753
Fair value	2,971	2,753
Subsidies Receivables [member]
Disclosure of financial assets and liabilities [line items]
Accounting category amortized cost	17,173	9,524
Book value on the statement of financial position	17,173	9,524
Fair value	17,173	9,524
Current Financial Assets [member]
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	7	40,602
Accounting category amortized cost	381
Book value on the statement of financial position	388	40,602
Fair value	388	40,602
Cash and Cash Equivalents [member]
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	451,501	256,380
Book value on the statement of financial position	451,501	256,380
Fair value	451,501	256,380
Non-Current Financial Liabilities [member]
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	0	0
Accounting category amortized cost	1,018	13
Book value on the statement of financial position	1,018	13
Fair value	1,018	13
Current Financial Liabilities [member]
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	0	0
Accounting category amortized cost	333	21
Book value on the statement of financial position	333	21
Fair value	333	21
Trade Payables [member]
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	0	0
Accounting category amortized cost	15,883	9,460
Book value on the statement of financial position	15,883	9,460
Fair value	15,883	9,460
Other Current Liabilities1 [member]
Disclosure of financial assets and liabilities [line items]
Accounting category fair value through profit and loss	0	0
Accounting category amortized cost	8,369	6,570
Book value on the statement of financial position	8,369	6,570
Fair value	$ 8,369	$ 6,570

Financial Assets and Liabilities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of financial assets and liabilities [line items]
Derivative financial assets	$ 0	$ 558,000
Finance lease liabilities	1,350,000
Cash and cash equivalents	$ 451,501,000	$ 256,380,000	$ 254,568,000	$ 342,111,000
US Dollar [member] \| Cash Cash and Cash Equivalents and Current Assets [member]
Disclosure of financial assets and liabilities [line items]
Currency denominated percentage	66.00%	75.00%
US Dollar [member] \| Current Financial Assets and Cash and Cash Equivalents [member]
Disclosure of financial assets and liabilities [line items]
Currency denominated percentage		79.00%

Financial Assets and Liabilities - Summary of Derivative Financial Instruments (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Disclosure of financial assets [line items]
Fair Value	$ 558,000
Derivative financial assets	558,000	$ 0
Derivative financial liabilities	0	$ 0
USD Forward Sale Contracts [member]
Disclosure of financial assets [line items]
Notional	18,775,000
Fair Value	$ 558,000
Maturity	2018
USD Forward Purchase Contracts [member]
Disclosure of financial assets [line items]
Maturity	-

Inventories - Additional Information (Detail) - USD ($)	12 Months Ended
Inventories - Additional Information (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Disclosure of inventories [line items]
Inventories	$ 275,000	$ 250,000
Provision for impairment	0	0
Laboratory Equipment [member]
Disclosure of inventories [line items]
Inventories	$ 275,000	$ 250,000

Trade Receivables and Other Current Assets - Disclosure of Trade Receivables (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Trade and other receivables [abstract]
Trade receivables	$ 3,353	$ 3,079
Provision for expected credit losses	(382)	(326)
Total net value of trade receivables	$ 2,971	$ 2,753

Trade Receivables and Other Current Assets - Disclosure of Subsidies Receivables (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Receivables1 [abstract]
Research tax credit	$ 16,842	$ 9,039
Other subsidies	1,598	1,812
Valuation allowance for other subsidies	(1,266)	(1,326)
Total subsidies receivables	$ 17,173	$ 9,524

Trade Receivables and Other Current Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Prepaid expenses and other current assets [line items]
Research tax credit receivables	$ 16,842	$ 9,039
Other current assets	2,425	2,993
Tax receivables	200	600
Social charges on personnel expenses	200	300
Other deferred expenses		600
Calyxt Inc. [member]
Prepaid expenses and other current assets [line items]
Deferred expense on sale and lease-back transaction	2,100	2,100
France [member]
Prepaid expenses and other current assets [line items]
Research tax credit receivables	$ 7,800	$ 8,200

Trade Receivables and Other Current Assets - Disclosure of Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other Current Assets [abstract]
VAT receivables	$ 1,679	$ 1,543
Prepaid expenses and other prepayments	10,985	8,304
Tax and social receivables	244	873
Deferred expenses and other current assets	2,425	2,993
Total other current assets	$ 15,333	$ 13,713

Current Financial Assets and Cash and Cash Equivalents - Summary of Current Financial Assets and Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of current financial assets and cash and cash equivalents [line items]
Current financial assets	$ 388	$ 40,602
Cash and cash equivalents	451,501	256,380	$ 254,568	$ 342,111
Carrying Value [member]
Disclosure of current financial assets and cash and cash equivalents [line items]
Current financial assets	388	40,602
Cash and cash equivalents	451,501	256,380
Current financial assets and cash and cash equivalents	451,889	296,982
Estimated Fair Value [member]
Disclosure of current financial assets and cash and cash equivalents [line items]
Current financial assets	388	40,602
Cash and cash equivalents	451,501	256,380
Current financial assets and cash and cash equivalents	$ 451,889	$ 296,982

Current Financial Assets and Cash and Cash Equivalents - Additional Information (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Disclosure of current financial assets and cash and cash equivalents [line items]
Short term restricted cash	$ 40,075,000	$ 23,986,000
Nominal value amount		40,300,000
Fair value amount		39,700,000
Valuation inputs [member]
Disclosure of current financial assets and cash and cash equivalents [line items]
Nominal value amount		600,000
Fair value amount		$ 600,000
Broker license [member]
Disclosure of current financial assets and cash and cash equivalents [line items]
Restricted cash	50,000
Other current financial assets	0
Furniture and equipment sales lease back [member]
Disclosure of current financial assets and cash and cash equivalents [line items]
Restricted cash	1,444,000
Short term restricted cash	$ 331,000

Current Financial Assets and Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash and cash equivalents [abstract]
Cash and bank accounts	$ 398,178	$ 219,368
Money market funds	13,248	13,026
Fixed bank deposits	40,075	23,986
Total cash and cash equivalents	$ 451,501	$ 256,380	$ 254,568	$ 342,111

Financial Liabilities - Schedule of Financial Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2016
Categories of financial liabilities [abstract]
Finance leases	$ 1,018	$ 13
Total non-current financial liabilities	1,018	13
Finance leases	333	21
Total current financial liabilities	333	21	$ 1,730	$ 2,091
Trade payables	15,883	9,460
Other current liabilities	8,369	6,570
Total Financial liabilities	$ 25,603	$ 16,064

Financial Liabilities - Schedule Representing Due Dates of the Financial Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Disclosure of offsetting of financial liabilities [line items]
Finance leases	$ 1,350
Derivative instruments	0	$ 0
Financial liabilities	1,350
Trade payables	15,883	9,460
Other current liabilities	8,369	6,570
Total Financial liabilities	25,603	$ 16,064
Less than One Year [member]
Disclosure of offsetting of financial liabilities [line items]
Finance leases	333
Derivative instruments	0
Financial liabilities	333
Trade payables	15,883
Other current liabilities	8,369
Total Financial liabilities	24,585
One to Five Years [member]
Disclosure of offsetting of financial liabilities [line items]
Finance leases	1,018
Derivative instruments	0
Financial liabilities	1,018
Total Financial liabilities	1,018
More than Five Years [member]
Disclosure of offsetting of financial liabilities [line items]
Derivative instruments	$ 0

Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2016
Miscellaneous current liabilities [abstract]
VAT Payables	$ 291	$ 9
Accruals for personnel related expenses	7,041	5,982
Other	1,037	579
Total	$ 8,369	$ 6,570	$ 5,196	$ 13,823

Deferred Revenues and Contract Liabilities - Summary of Deferred Revenues and Contract Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2016
Accruals and deferred income [abstract]
Deferred revenues and contract liabilities	$ 20,454	$ 27,975
Other	299
Total Deferred revenue and contract liabilities	$ 20,754	$ 27,975	$ 40,615	$ 61,357

Capital - Schedule of Classes of Share Capital (Detail) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Balance at beginning of year

$ 178,230

Beginning balance

^[1]

$ 283,985

$ 272,984

$ 285,260

35,960,062

35,335,060

35,178,614

Exercise of share warrants, employee warrants and stock options

$ 7,751

$ 2,921

Non-cash stock based compensation expense

28,507

$ 58,622

$ 828,525

$ 614,037

568,185

Exercise of share warrants, employee warrants and stock options

6,146,000

466,950

324,007

158,052

$ (40)

$ (38)

$ 450,272

$ 283,985

^[1]

$ 272,984

^[1]

Balance at beginning of year

42,430,069

35,960,062

35,335,060

Nominal value

$ 0.05

Nominal value

$ 0.05

$ 614,037

$ 568,185

$ 509,938

BSA, BSPCE and Free Shares [member]

Disclosure of classes of share capital [line items]

$ 723

Reserve of Share-based Payments [member]

156,446

Disclosure of classes of share capital [line items]

Non-cash stock based compensation expense

42,968

$ 57,524

Disclosure of classes of share capital [line items]

Beginning balance

^[1]

614,037

568,185

509,938

Non-cash stock based compensation expense

57,524

(37)

Share Capital Ordinary Shares [member]

828,525

614,037

^[1]

568,185

^[1]

Disclosure of classes of share capital [line items]

Beginning balance

^[1]

2,367

2,332

2,323

Exercise of share warrants, employee warrants and stock options

379

Share Capital Ordinary Shares [member] | BSA, BSPCE and Free Shares [member]

$ 2,765

$ 2,367

^[1]

2,332

^[1]

Disclosure of classes of share capital [line items]