Codexis Inc Stock Price, News & Analysis

Codexis (NASDAQ: CDXS) announced a strong financial performance for Q2 2022, with total revenue surging 51% to $38.4 million and product revenue rising 135% to $34.6 million, largely driven by sales related to Pfizer’s PAXLOVID™. The company reaffirmed its 2022 revenue guidance of $135M-$141M. Codexis is moving forward with significant partnerships, including a deal with Molecular Assemblies and a $5 million investment in seqWell. Leadership change was also announced, with Dr. Stephen Dilly set to succeed John Nicols as CEO on August 9, 2022.

Codexis (CDXS) and Molecular Assemblies have announced a Commercial License and Enzyme Supply Agreement, allowing Molecular Assemblies to use an advanced terminal deoxynucleotidyl transferase (TdT) enzyme in its Fully Enzymatic Synthesis™ (FES™) technology. This collaboration aims to enhance enzymatic DNA synthesis, producing high-quality oligonucleotides for applications in gene editing, next-generation sequencing, and synthetic biology. The agreement entails milestone payments and royalties, positioning both companies for accelerated commercial success in DNA synthesis.

Codexis, Inc. (NASDAQ: CDXS) has appointed Dr. Stephen Dilly as the new President and CEO, effective August 9, 2022. Dilly, a Codexis Board member and former CEO of Sierra Oncology, succeeds John Nicols, who is retiring after a decade of transformative leadership. Nicols will continue on the Board until June 2023 while transitioning to a Strategic Advisor role. Dr. Dilly brings over 30 years of experience in biopharmaceuticals, having previously led successful companies and developed numerous marketed drugs. Codexis aims to leverage its CodeEvolver platform for continued growth in enzyme engineering.

Codexis (NASDAQ: CDXS) has announced a multi-year agreement with Pfizer for supplying a high-performance enzyme crucial for producing nirmatrelvir, an active pharmaceutical ingredient in PAXLOVID™, which treats COVID-19. This partnership underscores Codexis’ rapid manufacturing capabilities and supports Pfizer's efforts to ensure the availability of this oral treatment globally. The agreement highlights Codexis’ role in advancing synthetic biology and improving pharmaceutical production efficiency.

Codexis (NASDAQ: CDXS) reported preliminary revenue results for Q2 2022, expecting approximately $38 million. Updated full-year revenue guidance is now projected between $135 million and $141 million. Product revenues from Pfizer are anticipated to reach the low end of $75 million to $80 million. The company notes a mix of fewer new deals and lower revenue from existing customers as reasons for the revised guidance. A detailed financial report will be released on August 4, 2022.

Codexis (NASDAQ: CDXS) has collaborated with Merck to publish a research paper in Science journal, focusing on enzyme engineering for site-selective synthesis of insulin bioconjugates. This partnership has led to significant innovations in the biotech field. Utilizing Codexis’ proprietary CodeEvolver® technology, the research outlines the development of specialized enzymes that enhance the precision of peptide modification, potentially creating new clinical leads. This collaboration underscores the promise of synthetic biology in improving therapeutic options.

Codexis, a leader in enzyme engineering, announced participation in three investor conferences. The events include the 19th Annual Craig-Hallum Institutional Investor Conference on June 1, 2022, the Benchmark Healthcare House Call Virtual 1x1 Investor Conference on June 2, 2022, and the Jefferies Healthcare Conference on June 9, 2022, where a fireside chat will be held. Investors can access a live webcast of the Jefferies event on Codexis' website, with a replay available for 90 days.

Codexis focuses on developing high-performance enzymes for various applications, including pharmaceuticals and gene therapies.

Codexis, a leader in enzyme engineering, announced participation in two investor conferences. Management will attend the UBS Global Healthcare Conference on May 23, 2022 for an in-person chat at 4:15 p.m. ET in New York. Additionally, they will participate in the H.C. Wainwright Global Investment Conference on May 24, 2022 at 7:00 a.m. ET, delivering a virtual presentation. Webcasts of both events will be available on the company's Investor Relations website for 30 days following the presentations.

Codexis (CDXS) announced presentations at the ASGCT Annual Meeting from May 16-19, 2022, showcasing results from three gene therapy programs. Utilizing the CodeEvolver® platform, the research highlights engineered enzymes for Hemophilia A, Fabry Disease, and Pompe Disease, demonstrating enhanced therapeutic efficacy. Key findings include engineered FVIII-BDD variants retaining over 80% activity after four days, and GLA variants achieving up to 20 times increased activity, potentially leading to improved patient outcomes and addressing unmet medical needs.