Australia's Calix falls to 1-1/2-month low as unit scales back work on US project

Australian technology company Calix Ltd CXL.AX drops as much as 3.1% to A$0.315, its lowest point since April 22

Co's unit Leilac is scaling back work on its projects in the U.S., pending outcome of ongoing reviews of government spending

Programs under review include those providing funding for Heirloom's direct air capture project, Cypress project, and for two Leilac carbon capture and storage projects

Adds Leilac will reduce its resourcing and costs to remain cash neutral

Stock down ~58% this year, including the session's losses