Codexis Inc Stock Price, News & Analysis

Codexis, Inc. (CDXS) reported Q1 2022 total revenue of $35.3 million, a 96% increase from $18.0 million in Q1 2021, with product revenue soaring by 200% to $30.7 million.

The gross margin expanded to 72%, largely due to higher margin product sales, primarily from CDX-616 used in Pfizer’s PAXLOVID™. The company reiterated its 2022 guidance for total revenues between $152 million and $158 million, with a projected growth of nearly 50%.

Codexis, a leader in enzyme engineering, announced two poster presentations at the American Society of Gene and Cell Therapy 25th Annual Meeting, scheduled for May 16-19, 2022. The presentations focus on enhancing treatments for Hemophilia A and lysosomal storage diseases using directed evolution.

Dr. Marcus Rohovie will present on improving Hemophilia A treatments, while Dr. Rachel C. Botham will address lysosomal storage disease therapies. Details and abstracts will be available on both the ASGCT website and Codexis’ website starting May 16.

Codexis, a prominent enzyme engineering company, will announce its Q1 2022 financial results on May 5, 2022. The report follows the market's close, and management will host a conference call at 4:30 p.m. ET to discuss results and provide a business update. Investors can access the live webcast on the Codexis Investor Relations website or participate via phone. Codexis leverages its CodeEvolver® platform to create high-performance enzymes for pharmaceuticals and biotherapeutics, aiming to enhance sustainability in manufacturing.

Codexis (CDXS) has announced a strategic partnership with seqWell, leading a $7 million Series C funding round with a $5 million investment. Current investors Research Corporation Technologies and BroadOak Capital Partners also joined the financing. This partnership aims to accelerate seqWell's commercialization of its genomics workflow solutions, notably its plexWell platform, which simplifies NGS library preparation. Codexis will leverage its CodeEvolver technology to enhance seqWell’s products, positioned in the rapidly growing genomics and next-generation sequencing markets.

Codexis (CDXS) and Molecular Assemblies announced advancements in their partnership focused on Fully Enzymatic Synthesis™ (FES™) technology, utilizing Codexis’ engineered enzymes for enhanced DNA synthesis. The collaboration has produced a refined version of terminal deoxynucleotidyl transferase (TdT) polymerase, which improves synthesis accuracy and efficiency. A Key Customer Program will begin later this year, allowing select clients access to long, custom oligonucleotides. FES technology aims to disrupt traditional chemical methods, streamlining synthetic biology applications.

Codexis (Nasdaq:CDXS), an enzyme engineering company, announced participation in the Cowen 42nd Annual Health Care Conference set for March 7-9, 2022. Management will engage in a panel discussion titled “Synthetic Biology Enabling Discovery” on March 8 at 3:30 p.m. ET, followed by a fireside chat on March 9 at 1:30 p.m. ET. Both sessions will be webcasted and accessible in the Investor Relations section of the Codexis website for 30 and 90 days post-event. The company focuses on advancing synthetic biology through innovative enzyme solutions.

Codexis reported a record total revenue of $104.8 million for 2021, marking a 52% increase from 2020 and achieving its eighth consecutive year of revenue growth. Product revenues more than doubled to $70.7 million, driven primarily by sales to Pfizer for the COVID-19 drug PAXLOVID™. The company projects 2022 total revenues between $152 million and $158 million, reflecting anticipated continued growth. Despite increased R&D and SG&A expenses, Codexis maintains a solid cash position of $116.8 million.

Codexis (Nasdaq:CDXS) announced it will report its fourth quarter and fiscal year 2021 financial results on February 24, 2022, after market close. A conference call and webcast for discussing the results will be held at 4:30 p.m. ET. Participants can join the live call by dialing 877-705-2976 (domestic) or (201) 689-8798 (international). The webcast will be available for archiving for 90 days. Codexis leverages its proprietary CodeEvolver platform for novel enzyme development impacting various industries.

Codexis (NASDAQ: CDXS) announced that the FDA has granted orphan drug designation and rare pediatric disease designation for its drug candidate CDX-6512, aimed at treating homocystinuria. This enzyme therapy is in pre-IND development and is positioned as a first-in-class oral treatment. The orphan designation provides incentives such as tax credits and potential marketing exclusivity for seven years upon FDA approval. Preclinical data showcasing CDX-6512 was previously presented at the ICIEM in November 2021.