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), an enzyme engineering firm, has entered an asset purchase agreement with Crosswalk Therapeutics, transferring its investigational Fabry and Pompe disease compounds. Codexis is set to receive future development and commercial milestone payments, along with a low-to-mid single-digit percentage net sales-based royalty. Crosswalk Therapeutics, led by former Takeda rare diseases team members, will continue advancing these therapies. This move follows Codexis' strategic shift to monetize non-core assets and focus on high-value programs after Takeda discontinued its AAV gene therapy efforts in April 2023.
Codexis (NASDAQ: CDXS), a prominent enzyme engineering company, announced its participation in the Jefferies Global Healthcare Conference on June 5-6, 2024, in New York. Management will engage in a fireside chat on June 5 at 11:30 am ET. A live webcast and an archived replay will be accessible via Codexis' Investor Relations webpage.
Codexis (NASDAQ: CDXS), an enzyme engineering company, announced its participation in the TD Cowen 2nd Annual Sustainability Week from May 21-23, 2024. The company will join a panel on May 22, 2024, to discuss “Sustainable API Manufacturing” focusing on the benefits of enzymatic synthesis in creating small molecule and siRNA therapeutics. The event will be live-streamed and available for replay on the Codexis website.
On May 14, 2024, Codexis (NASDAQ: CDXS) announced a significant milestone in enzymatic synthesis at the TIDES USA annual meeting. The company successfully synthesized a full-length oligonucleotide via its ECO Synthesis™ platform, offering an alternative method for RNA-based therapeutics production. This platform demonstrated coupling efficiency greater than 98% and minimized impurities compared to conventional methods. Codexis also launched RNA Ligase Screening and Optimization Services, aimed at improving RNA synthesis efficiency and scalability. This development could potentially lower manufacturing costs and enhance the quality and yield of RNA therapeutics.
Codexis, Inc. (NASDAQ: CDXS) reported a 32% increase in total revenue for Q1 2024, with product revenue up 14%. The company secured its first substantial order for dsRNA Ligase from a large pharma customer. Codexis also received a $40 million loan facility agreement with Innovatus, strengthening its cash position. Additionally, the company entered into an exclusive global license agreement with Roche Sequencing Solutions, Inc. Codexis expects to achieve significant milestones in enzymatic synthesis and ECO Synthesis™ platform development, with a focus on DNA ligation. Financially, the company saw positive growth in total and product revenues, improved product gross margin, and reduced R&D and SG&A expenses. The net loss decreased compared to Q1 2023, with cash reserves to support operations until positive cash flow is expected in 2026. Codexis reaffirmed its 2024 financial guidance, anticipating growth across product and R&D revenues.
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