Codexis, Inc. - CDXS STOCK NEWS

Codexis (NASDAQ: CDXS) has strengthened its financial position and management team to drive growth. The company raised $31 million through its at-the-market facility, extending its cash runway into 2027. This adds to the $73.2 million in cash and equivalents reported on June 30, 2024.

Key leadership appointments include Alison Moore, PhD as Chief Technology Officer, Georgia Erbez as Chief Financial Officer, and John Schiffhauer as Senior Vice President of Intellectual Property. These additions bring decades of experience in biotechnology, finance, and IP management to Codexis.

The company is preparing to launch an innovative solution for efficient siRNA therapeutics manufacturing, positioning itself for growth in this emerging field. Codexis aims to strategically invest in talent, technology, and capabilities to capitalize on new opportunities while maintaining its path to profitability.

Codexis, Inc. (NASDAQ: CDXS) has entered into a non-exclusive commercial and manufacturing license agreement with Alphazyme , part of Maravai LifeSciences, for multiple enzymes in Codexis' life science enzyme portfolio. The agreement includes licenses for HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other enzymes for genomics and diagnostics applications.

Codexis will receive sales-based royalties under the agreement. This transaction aligns with Codexis' strategy to divest non-core assets following its strategic shift announced in July 2023. The company aims to focus on maximizing near-term commercial opportunities, including growing its Pharmaceutical Manufacturing business, increasing adoption of dsRNA ligase, and developing the ECO Synthesis™ Innovation Lab.

Codexis expects to achieve key milestones for the ECO Synthesis™ platform this fiscal year, deliver double-digit product revenue growth, and maintain a path to positive cash flow around the end of 2026.

Codexis (NASDAQ: CDXS), a leading enzyme engineering company, has announced the approval of equity grants for three new employees. These grants, approved by the Compensation Committee of Codexis' Board of Directors, include:

1. Options to purchase 4,950 shares of Codexis common stock
2. 8,125 restricted stock units (RSUs)

The stock options have an exercise price equal to the closing price of Codexis' common stock on the grant date. They vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly thereafter. The RSUs will vest in equal annual installments over three years. Both are subject to continued employment. This announcement is in compliance with Nasdaq Listing Rule 5635(c)4.

Codexis (NASDAQ: CDXS), a leading enzyme engineering company, has announced its participation in two upcoming healthcare conferences. Management will engage in fireside chats at:

1. The Cantor Global Healthcare Conference in New York on September 17, 2024, at 11:30 am ET.

2. The Craig-Hallum Bioprocessing Conference (Virtual) on September 19, 2024, at 2:00 pm ET.

A live webcast of the Cantor fireside chat will be available on the company's Investor Relations website. A replay of the Craig-Hallum fireside chat will be accessible within 48 hours of the presentation. Both replays will be archived for at least 90 days following the presentation date.

Codexis (NASDAQ: CDXS), a leading enzyme engineering company, will participate in the RNA Leaders annual meeting on September 4-5, 2024, in San Diego. The company will focus on using enzymes for scalable and cost-effective manufacturing of siRNA duplexes. Stefan Lutz, PhD, Codexis SVP of Research, will join a keynote panel discussing new solutions in RNA manufacturing. Another presentation will highlight ligation for joining siRNA fragments, reducing costs through higher yield and purity.

Codexis recently launched double-stranded RNA ligase screening and optimization services. Their presentation will showcase improvements in key ligase attributes using their ECO Synthesis™ manufacturing platform. These include high catalytic activity and improved performance on challenging sequences. Attendees can visit Codexis at Booth #9 or schedule appointments in advance.

Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, has announced the approval of equity grants for three new employees. These grants, approved by the Compensation Committee of Codexis' Board of Directors, include:

1. Options to purchase 137,950 shares of Codexis common stock
2. 27,000 restricted stock units (RSUs)

The stock options have an exercise price equal to the closing price of Codexis' common stock on the grant date. They vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly thereafter. The RSUs vest in equal annual installments over three years. These equity awards are part of the company's 2024 Inducement Plan and are reported in compliance with Nasdaq Listing Rule 5635(c)4.

Codexis (NASDAQ: CDXS), a leading enzyme engineering company, has published its inaugural sustainability disclosures for fiscal year 2023. These disclosures, aligned with the Sustainability Accounting Standards Board (SASB) guidance, mark a significant milestone in Codexis' sustainability journey. The report covers the company's environmental, social, and governance (ESG) performance for the year ended December 31, 2023.

This initiative demonstrates Codexis' commitment to providing stakeholders with standardized and transparent information about its sustainability efforts. As the company continues to grow as a partner for sustainable drug manufacturing, it plans to build upon these disclosures and make further advancements in its sustainability performance and reporting practices. Interested parties can access Codexis' FY2023 SASB index and learn more about its sustainability program on the company's website.

Codexis has reported its Q2 2024 financial results, alongside maintaining full-year financial guidance. Total revenues for Q2 2024 were $8.0 million, significantly lower than Q2 2023’s $21.3 million, with product revenues at $6.3 million and R&D revenues at $1.7 million. The company emphasizes a 10% product revenue growth for FY2024, excluding PAXLOVID™ enzyme sales. Gross margin for products fell to 45%, down from 71% in Q2 2023. Codexis's financial outlook, reiterated on Feb 28, 2024, expects product revenues between $38-42 million and R&D revenues between $18-22 million for the year.

The company achieved notable technical progress, presenting groundbreaking enzymatic synthesis data at TIDES USA 2024 and launching its dsRNA ligase screening services. Codexis received a significant order for the dsRNA ligase and finalized a purchase agreement with Crosswalk Therapeutics for gene therapy assets. Despite a net loss of $22.8 million, Codexis is focused on entering its first technical collaboration for the ECO Synthesis™ platform by year-end and completing its Innovation Lab build-out.

Codexis (NASDAQ: CDXS), a leading enzyme engineering company, has announced it will release its second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company will host a conference call and webcast at 4:30 pm Eastern Time to discuss the results and provide a business update. Investors can access the live webcast on the Codexis Investor Relations website, where it will be archived for at least 90 days. For those preferring to join by phone, the live call can be accessed by dialing 877-705-2976 (domestic) or 201-689-8798 (international). A 48-hour telephone replay will also be available.