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 company, announced the approval of equity grants for two new hires as sanctioned by its Compensation Committee. The awards include stock options for 43,403 shares and restricted stock units (RSUs) for 9,723 shares, as part of the 2022 Employee Inducement Incentive Award Plan. Stock options will have an exercise price based on the closing price on the grant date and vest over four years. RSUs will vest annually over three years. This move aims to attract and retain talent in the competitive biotech sector.
Codexis, a leader in enzyme engineering, will participate in the Cowen 43rd Annual Health Care Conference from March 6-8, 2023, in Boston, Massachusetts. Stephen Dilly, CEO, will join a panel discussion on 'SynBio & AI Driven Drug Discovery' on March 6 at 4:40 pm ET. The management team will also engage in a fireside chat on March 7 at 11:10 am ET. Interested investors can access webcasts of both events on the company's Investor Relations webpage, with the panel archived for 30 days and the chat for 90 days. Codexis utilizes its CodeEvolver® platform to develop innovative enzymes and biotherapeutics for various applications, enhancing manufacturing and therapeutic efficacy.
Codexis, Inc. (NASDAQ: CDXS) announced its 2022 financial results, highlighting total revenues of $138.6 million, a 32% increase from $104.8 million in 2021. Excluding enzyme sales related to PAXLOVID™, revenues decreased by 10% to $63.2 million. The company reported a net loss of $33.6 million for 2022, or $0.51 per share. For 2023, Codexis projects total revenues between $63 million and $68 million, excluding PAXLOVID™ sales. Notably, the company has a cash runway through the end of 2024 and is preparing for three Investigational New Drug applications, marking significant upcoming milestones in its biotherapeutics pipeline.
Codexis (NASDAQ: CDXS) and Nestlé Health Science announced interim findings from a Phase 1 study of CDX-7108, an engineered lipase variant aimed at improving lipid absorption for patients with exocrine pancreatic insufficiency (EPI).
Results showed improved lipid absorption with CDX-7108 compared to placebo, with no observed safety issues among the 48 subjects in the trial. The companies plan to file an Investigational New Drug application for a Phase 2 study by the end of 2023, aiming for initiation in early 2024 and topline data by 2025.
Codexis (NASDAQ: CDXS) announced key presentations at the WORLD Symposium, focusing on its gene therapy programs for Fabry disease and GM1 Gangliosidosis. Partnering with Takeda, Codexis showcased preclinical data on a novel α-galactosidase A protein variant aimed at overcoming limitations of existing treatments for Fabry disease. Takeda's presentation highlighted a recombinant adeno-associated virus-based gene therapy candidate utilizing Codexis’ engineered enzyme. Additionally, two abstracts on GM1 Gangliosidosis featured Codexis' enzyme engineering capabilities. The data emphasize potential advancements in treatment efficacy for rare genetic disorders.
Codexis announced the grant of an inducement award to newly appointed Chief Financial Officer, Sri Ryali, effective February 10, 2023. The grant includes a nonstatutory option for 372,637 shares and restricted stock units (RSUs) for 111,791 shares. The stock option has an exercise price of $5.86 and vests over four years. Additionally, three new employees received equity awards totaling options for 78,952 shares and RSUs for 33,956 shares, following the same vesting and pricing terms. These equity awards comply with Nasdaq Listing Rule 5635(c)(4).
Codexis, a prominent enzyme engineering company, announced it will report its financial results for Q4 and fiscal year 2022 on February 23, 2023, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss the results and provide a business update.
Participants can access the live webcast on Codexis' Investor Relations website, where it will be archived for 90 days. The call can be accessed by dialing the provided numbers with the conference ID #13735352 for live participation and access ID #13726635 for replays.
Codexis, Inc. (NASDAQ: CDXS) announced the appointment of Sri Ryali as Chief Financial Officer, effective immediately. With 20 years in finance and commercial experience in life sciences, Ryali will oversee all financial operations, reporting directly to Dr. Stephen Dilly, President and CEO. Dr. Dilly highlighted that Ryali's expertise will enhance the strategic leadership team as the company focuses on high-potential programs in 2023. Ryali previously served as CFO at Eiger BioPharmaceuticals and held senior finance roles in other biotech firms. His experience is expected to drive long-term shareholder value through commercial opportunities.
Codexis has appointed H. Stewart Parker to its Board of Directors. Parker brings extensive experience in gene therapy and biopharmaceuticals, previously serving in leadership roles at notable organizations such as Targeted Genetics and the Infectious Disease Research Institute. Her expertise will support Codexis as it aims to enhance its board diversity and drive significant value through its enzyme engineering programs. Parker expresses enthusiasm for leveraging her insights to promote the company’s growth and innovation in biotherapeutics.
Codexis (NASDAQ: CDXS) announced a strategic shift to focus on high-potential commercial opportunities, leading to workforce reduction by 18% and discontinuation of certain internal development programs. Under CEO Dr. Stephen Dilly's leadership, the company aims to enhance value and preserve its cash runway through the end of 2024 with expected annual savings of approximately $15 million. Codexis reiterated its financial guidance for 2022 while anticipating that these changes will be largely implemented by December 31, 2022.
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