Welcome to our dedicated page for Codexis news (Ticker: CDXS), a resource for investors and traders seeking the latest updates and insights on Codexis stock.
Codexis, Inc. (Symbol: CDXS) is a pioneering leader in protein engineering, pushing the boundaries of biotechnology through its innovative approaches. Established in 2002, Codexis specializes in the rapid development and production of highly optimized proteins using its proprietary CodeEvolver® technology platform. This platform leverages the power of artificial intelligence and advanced high-throughput screening systems to efficiently introduce function-driven mutations, creating proteins meticulously tailored to meet specific performance requirements.
Codexis offers a broad spectrum of enzyme optimization services and biocatalyst products. These include biocatalysts and enzymes, which play crucial roles in various industries, including pharmaceuticals, food, and biofuels. The company's enzyme solutions are designed to improve the efficiency, cost-effectiveness, and environmental sustainability of production processes.
A significant portion of Codexis’ revenue is derived from product sales, while licensing its technology platform to pharmaceutical companies also contributes to its financial health. These partnerships enable pharmaceutical giants to harness Codexis’ technology in-house, facilitating the engineering of custom enzymes for their specific needs.
Codexis has a global revenue footprint, with contributions from the United States, Ireland, Switzerland, China, and other international markets. The company's innovative efforts have led to several strategic partnerships and collaborations, further cementing its position in the biotechnology sector.
Recent achievements include a strategic collaboration geared towards enhancing RNA therapeutic development, aimed at providing GMP-grade Codexis enzymes. Another notable development is the collaboration with TnX transposase, focusing on enhancing genomic applications.
Codexis continues to advance in the field of biotherapeutics, retaining economic interest while minimizing development and commercialization costs. The company remains committed to optimizing yield, purity, and quality in its offerings, ensuring that customers receive superior siRNA materials for preclinical testing.
For more information, Codexis frequently participates in industry conferences, presenting breakthrough research and advancements. Stay updated with the latest developments and announcements by following Codexis on various platforms.
Codexis (NASDAQ: CDXS) has appointed Christos Richards to its Board of Directors. Richards brings over 30 years of global executive advisory and search experience in the biopharmaceutical and healthcare industry. He currently serves as Global Head of Healthcare and Life Sciences at Calibre One and has completed more than 450 executive level assignments, including over 200 Board, CEO, and CEO succession projects.
Richards currently leads Calibre One's healthcare and life sciences practice, serving clients from venture-backed startups to global enterprises. His experience spans devices, diagnostics, agricultural biotechnology, animal health, tools, services, and digital health sectors. He previously served on the Board of Directors for Coherus BioSciences and is an advisor for the UCSF Innovation Ventures Entrepreneurship Center.
Codexis (NASDAQ: CDXS) has announced the approval of equity grants for two new employees, as authorized by the company's Compensation Committee. The inducement awards, granted under the 2024 Inducement Plan, include:
Stock Options: 23,000 shares with an exercise price matching Codexis' Nasdaq closing price on grant date. These vest over 4 years, with 25% vesting after year one and the remainder vesting monthly.
Restricted Stock Units (RSUs): 11,500 units vesting in equal annual installments over three years from the grant date.
Both awards are subject to continued employment with Codexis through applicable vesting dates. This disclosure complies with Nasdaq Listing Rule 5635(c)4.
Codexis (NASDAQ: CDXS) has announced the approval of equity grants for five new employees. The compensation package includes:
- Stock options to purchase 168,400 shares of common stock, vesting over four years with 25% vesting after the first year and the remainder monthly thereafter
- 39,750 restricted stock units (RSUs) vesting in equal annual installments over three years
These inducement awards were granted under the company's 2024 Inducement Plan, with stock options priced at the closing price of Codexis shares on the grant date. The announcement complies with Nasdaq Listing Rule 5635(c)4.
Codexis (NASDAQ: CDXS), a provider of enzymatic solutions for therapeutics manufacturing, announced its participation in the Piper Sandler 36th Annual Healthcare Conference. The event will take place in New York from December 3-5, 2024. The company's management will engage in a fireside chat on December 3, 2024, at 11:00 am ET. Interested parties can access a live webcast through the company's investor relations website, with a replay available for 90 days after the event.
Codexis (NASDAQ: CDXS) has unveiled groundbreaking data at TIDES Europe 2024, showcasing four routes of synthesis for an approved siRNA therapeutic asset, inclisiran. The company's ECO Synthesis™ manufacturing platform achieved >98% incorporation efficiency during sequential enzymatic oligo synthesis, operating under milder conditions than traditional methods. In collaboration with Bachem, Codexis demonstrated superior performance of their engineered double-stranded RNA ligases compared to wild-type enzymes, showing higher conversion rates and improved substrate versatility. The company plans to scale up siRNA manufacturing for preclinical testing following the completion of their ECO Synthesis Innovation Lab.
Codexis (NASDAQ: CDXS) has appointed Raymond De Vré, PhD, to its Board of Directors. Dr. De Vré brings over 20 years of executive experience and currently serves as Managing Director at RADV Advisory. His previous roles include CEO of PolyPeptide Group, Senior VP at Dr. Reddy's Laboratories, and Partner at McKinsey & Company. He holds a PhD in Applied Physics from Stanford University and brings expertise in oligonucleotide manufacturing and commercial strategy to Codexis's ECO Synthesis platform development.
Codexis (NASDAQ: CDXS) announced three presentations at TIDES Europe 2024 in Hamburg, showcasing its enzymatic synthesis platform for RNAi therapeutics. The company will feature data comparing its double-stranded RNA ligase variants to wild-type enzymes in a joint poster with Bachem. Two oral presentations will highlight: the RNA Ligase Screening & Optimization Services capabilities and the ECO Synthesis™ manufacturing platform, demonstrating four routes of synthesis for a commercial siRNA therapeutic. The presentations will take place November 12-14, 2024, followed by a management conference call to discuss the data.
Codexis (NASDAQ: CDXS) has announced the approval of an equity grant for one new employee. The inducement award includes 50,000 stock options and 15,000 restricted stock units (RSUs) under the company's 2024 Inducement Plan. The stock options will vest over four years, with 25% vesting after the first year and the remainder vesting monthly. The RSUs will vest in equal annual installments over three years. Both grants are subject to continued employment with Codexis.
Codexis (NASDAQ: CDXS) has announced its participation in four major healthcare conferences in November 2024. The company will engage in fireside chats at the Stifel Healthcare Conference (New York, November 18), the Jefferies London Healthcare Conference (London, November 19), and the Stephens Annual Investment Conference (Nashville, November 21). Additionally, management will host one-on-one investor meetings at the Craig-Hallum Alpha Select Conference in New York on November 19. Live webcasts of the fireside chats will be available on Codexis's investor relations website, with replays accessible for 90 days post-presentation.
Codexis (NASDAQ: CDXS) reported Q3 2024 financial results with total revenues of $12.8M, up from $9.3M in Q3 2023. Product revenues increased to $11.2M from $5.4M year-over-year. The company raised $31M via ATM facility, extending cash runway into 2027. Net loss was $20.6M ($0.29 per share) compared to $34.9M ($0.50 per share) in Q3 2023.
The company appointed Georgia Erbez as CFO and Alison Moore as CTO, licensed its genomics enzyme portfolio to Alphazyme, and maintains its 2024 guidance with product revenues expected between $38M-$42M excluding PAXLOVID™-related revenue. Gross margin on product revenue is projected at 58-63%.
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