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Dyadic International, Inc. filings document the regulatory disclosures of a Nasdaq-listed biotechnology company developing and commercializing recombinant proteins and enzymes through proprietary microbial expression platforms. Form 8-K reports cover financial results, press-release exhibits, business-development updates, and Nasdaq continued-listing matters affecting the company's common stock.
The filing record also includes material agreements and capital-structure disclosures, including equity issuance programs under shelf registration statements, underwriting arrangements for common stock offerings, and amendments to security agreements tied to senior secured convertible promissory notes. These documents describe Dyadic's governance, registered securities, financing activity, listing compliance, and formal event reporting.
Dyadic International announced a collaboration between Dyadic Applied BioSolutions and researchers at Scripps Research to evaluate monoclonal antibody and vaccine candidates targeting hantaviruses, including the Andes virus strain associated with Hantavirus Pulmonary Syndrome. The work will assess Dyadic’s microbial fungal-based C1 platform for rapid development, high-productivity fermentation, and large-scale biologic manufacturing aimed at future infectious disease preparedness.
The collaboration builds on Dyadic’s prior Andes virus monoclonal antibody research, its preclinical data showing C1-produced antibodies with binding and neutralization characteristics comparable to mammalian systems, and earlier GMP manufacturing and Phase 1 clinical evaluation using C1. Dyadic notes that this and other funded programs backed by organizations such as the Gates Foundation, CEPI, and European initiatives are pursued through grants, sponsored research, and strategic collaborations, allowing validation of the C1 platform while maintaining a primary commercial focus on non-pharmaceutical protein products and industrial-scale biomanufacturing opportunities.
Dyadic International reported much stronger Q1 2026 results, with total revenue of $1,110,956, up 182.3% from $393,572 a year earlier. Growth was driven by higher research and development revenue tied to the Proliant agreement, increased grant revenue from CEPI and the Gates Foundation, and $220,000 of new license and milestone revenue under the Inzymes agreement.
Total costs and expenses rose to $3,013,649, reflecting higher cost of revenue and general and administrative spending, while research and development expenses declined slightly. Loss from operations narrowed to $1,902,693, and net loss improved to $1,954,683, or $(0.05) per share, compared with $(0.07) per share last year. As of March 31, 2026, Dyadic held $6.6 million in cash, equivalents, restricted cash, and investment-grade securities but reported negative stockholders’ equity of $407,732.
Operationally, the company highlighted multiple commercial milestones, including initial purchase orders for recombinant bovine transferrin, the commercial launch of AlbuFree™ DX recombinant human albumin by Proliant, an expanded collaboration with Fermbox Bio, an OEM distribution agreement with IBT Bioservices, and a development and commercialization agreement with BRIG Bio for animal-free bovine alpha-lactalbumin. Dyadic also continued progressing biopharmaceutical programs supported by the Gates Foundation, CEPI, and Fondazione Biotecnopolo di Siena and is expanding its commercial footprint in Asia and Europe.
Dyadic International, Inc. reported first-quarter 2026 revenue of $1.11 million, up from $393,572 a year earlier, driven by research collaborations, grant funding and license milestones, including recognition of $273,000 from its Proliant serum albumin agreement and continued Gates Foundation and CEPI grant activity.
The company posted a net loss of $1.95 million for the quarter, slightly improved from a $2.03 million loss in 2025, as higher revenue was offset by increased general and administrative expenses of $1.76 million. Cash, cash equivalents, restricted cash and investment securities totaled about $6.6 million as of March 31, 2026, and management believes this will fund operations for at least 12 months.
Stockholders’ equity turned negative at $(0.41) million, and Dyadic remains dependent on external funding, including $5.09 million of 8% senior secured convertible notes and a new at‑the‑market program of up to $4.24 million. Recent milestones—such as Proliant’s commercial launch of AlbuFree DX, Inzymes milestones, and new distribution and OEM agreements—support its strategic shift toward revenue-focused, non‑animal protein applications.
Dyadic International is asking shareholders to vote at a virtual annual meeting on June 18, 2026. The proxy seeks approval to elect one Class I director, authorize a reverse stock split of common stock at a ratio between 2:1 and 10:1, ratify Crowe LLP as auditor, and approve 2025 executive pay on an advisory basis. As of April 24, 2026, the company had 36,438,703 common shares outstanding, with directors and executives beneficially owning about 20.9%. The filing also details $6.0 million of 8.0% senior secured convertible notes issued in 2024, of which $5.09 million remained outstanding as of April 24, 2026, held in part by trusts and family members related to the CEO.
Dyadic International Inc. reports beneficial ownership by Francisco Trust via Thomas Emalfarb, Trustee. The filing states Francisco Trust beneficially owns 4,363,045 shares (11.97%) of common stock. The trust also holds 952,381 shares issuable upon conversion of a Convertible Note amended to a $1.05 conversion price on 12/23/2025, with maturity extended to 12/31/2027. Shares outstanding were 36,438,703 as of 03/24/2026.
Dyadic International reported a Schedule 13G showing beneficial ownership of 4,363,045 shares of Common Stock, equal to 11.97% of the class.
The filing states the Reporting Person is Thomas Emalfarb, Trustee for the Francisco Trust and has sole voting power over 3,410,664 shares and sole dispositive power over 4,363,045 shares. The trust also holds 952,381 shares issuable upon conversion of a convertible note. Shares outstanding were 36,438,703 as of March 24, 2026.
Dyadic International, Inc. is soliciting proxies for its 2026 virtual Annual Meeting to be held on June 18, 2026. Shareholders of record as of April 24, 2026 may vote on: election of one Class I director (term to 2029); board authorization to effect a Reverse Stock Split (ratio 2:1 to 10:1); ratification of Crowe LLP as auditor; and an advisory vote on 2025 executive compensation.
There were 36,438,703 shares outstanding as of April 24, 2026. Insiders and directors beneficially own approximately 20.9%. The company disclosed $6.0M aggregate principal of 8.0% Senior Secured Convertible Notes issued March 8, 2024, with $5,090,000 principal outstanding as of the table shown.
Dyadic International, Inc. filed an amendment to its annual report for the year ended December 31, 2025 to add Part III details on directors, executive compensation, security ownership and related-party transactions. The filing describes a classified board, key executives’ backgrounds, and the company’s governance and ethics policies.
In 2025, CEO Mark Emalfarb received total compensation of $1,005,113, while President and COO Joseph Hazelton and CFO Ping Rawson received $483,337 and $413,158, respectively. The company outlines its equity incentive plans and 401(k) match. It also discloses $6.0 million in 8.0% Senior Secured Convertible Notes issued in 2024, of which $5.09 million remained outstanding as of April 24, 2026, including significant holdings by family trusts related to the CEO.
As of April 24, 2026, Dyadic had 36,438,703 common shares outstanding. CEO Mark Emalfarb beneficially owned 17.7% of common share equivalents, and The Francisco Trust beneficially owned 11.7%. The amendment also confirms independent director determinations and presents 2025 audit fees for Crowe LLP.
Dyadic International, Inc. reported that Nasdaq has notified the company it is not meeting the technical minimum requirements under Nasdaq Listing Rule 5550(b) for continued listing on the Nasdaq Capital Market. The rule requires at least $2.5 million in stockholders’ equity, $35 million in market value of listed securities, or $500,000 of net income from continuing operations.
Dyadic has 45 days, until May 11, 2026, to submit a plan to regain compliance and may receive up to 180 days from March 27, 2026 (to September 23, 2026) to cure the deficiency if Nasdaq accepts the plan. Separately, the company also remains out of compliance with Nasdaq’s $1.00 minimum bid price requirement and has until June 17, 2026 to regain compliance with that rule. Failure to cure either deficiency by the applicable deadline could lead to delisting of Dyadic’s common stock.
Dyadic Applied BioSolutions reported weaker 2025 results while advancing multiple commercial partnerships. Total revenue fell to $3.09 million from $3.50 million, mainly due to lower license and milestone revenue, partly offset by a $1.86 million increase in grant revenue from Gates Foundation and CEPI programs.
Loss from operations widened to $7.19 million, with net loss increasing to $7.36 million, or $(0.23) per share, compared with $5.81 million, or $(0.20) per share, in 2024. Cash, cash equivalents, restricted cash and investment-grade securities were about $8.6 million as of December 31, 2025. The company highlighted commercial launches and agreements across life sciences, food and nutrition, and bio-industrial markets, and scheduled an earnings call at 5:00 p.m. Eastern Time on March 25, 2026.