Codexis Inc Stock Price, News & Analysis

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.

Codexis, a leader in enzyme engineering, will engage in a fireside chat at the Piper Sandler 34th Annual Healthcare Conference from November 29 to December 1, 2022, in New York City. The chat is scheduled for December 1, 2022, at 1:30 p.m. ET and will be webcast live, with an archive available for 90 days post-event. Codexis focuses on developing innovative enzymes and biotherapeutics that enhance sustainability in pharmaceuticals and food production, promising significant operational improvements.

Codexis, a leader in enzyme engineering, announced management's participation in three investor conferences. The events are: the Stephens Annual Investment Conference on November 15, 2022, the Stifel 2022 Healthcare Conference on November 16, 2022, and the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022.

Live webcasts of the fireside chats will be available on the company's website, with replays archived for 90 days post-event.