REDWOOD CITY, Calif., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced the Company will attend the Piper Sandler 36th Annual Healthcare Conference, being held December 3-5, 2024, in New York, New York. Management will participate in a fireside chat on Tuesday, December 3, 2024, at 11:00 am ET. A live webcast of the event will be available in the Investor Relations section of the Co ...

—Becomes first company to showcase four routes of synthesis for approved siRNA therapeutic asset— —Joint poster with Bachem demonstrates superiority of Company’s double-stranded RNA ligases compared to wild-type enzymes— —Management to host conference call today at 4:30 pm EST to discuss data— REDWOOD CITY, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced data from three pr ...

—Spotlight Presentation to showcase four routes of synthesis of an approved siRNA therapeutic asset— —Joint poster presentation with Bachem to compare Codexis double-stranded RNA ligase to wild-type enzymes— —Management to host conference call on Thursday, November 14 to discuss data— REDWOOD CITY, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced the Company will demonstrat ...

| --- | --- | --- | |-------|-------|-------| | | | | | | | | Forward Looking Statements 1 These slides contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results or levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements ...

Financial Data and Key Metrics - Total revenues for Q3 2024 were $12.8 million, with product revenue of $11.2 million and R&D revenue of $1.7 million, compared to $9.3 million in Q3 2023 [33] - Product gross margin improved to 61% in Q3 2024, up from 58% in Q3 2023, driven by product mix [34] - R&D expenses decreased by 16% year-over-year to $11.5 million in Q3 2024, reflecting cost control measures [34] - Net loss for Q3 2024 was $20.6 million, compared to $34.9 million in Q3 2023 [35] - The company ended the quarter with $90 million in cash, cash equivalents, and investments, expected to fund operations through profitability and into 2027 [36] Business Line Performance - Pharma manufacturing revenue grew significantly, driven by timing of customer orders [33] - The company initiated technical collaborations on its ECO Synthesis manufacturing platform and completed the divestiture of its legacy genomics enzyme portfolio to Alphazyme [8] - Orders for double-stranded RNA ligase enzymes increased as customers progressed through clinical trials, with new customers testing the variants [18] - The ECO Synthesis Innovation Lab is on track for completion by the end of 2024, with plans to increase customer adoption in 2025 [29] Market Performance - The company is seeing increased interest from major siRNA drug developers and CDMOs, particularly for its ECO Synthesis platform [45][46] - The enzymatic production of nucleotide quatro phosphate (NQP) and nucleotide triphosphate (NTP) building blocks is gaining traction due to sustainability and cost advantages [23][24] - The company is working towards establishing a kilogram-scale GMP facility to support early-phase clinical trials and accelerate adoption of the ECO Synthesis platform [28] Strategic Direction and Industry Competition - The company has a clear path to profitability by the end of 2026, driven by growth in pharma manufacturing and higher-margin biocatalysis products [9][10] - Investments are being made to modernize internal manufacturing capabilities, improve downstream purification, and design a kilogram-scale facility for the ECO Synthesis platform [13][14][15] - The company is focusing on becoming a customer-oriented, mature commercial organization by taking assets further through development in-house [15] Management Commentary on Operating Environment and Future Outlook - Management expects continued growth in pharma manufacturing and increased orders for double-stranded RNA ligase enzymes as key drivers for 2025 [47] - The company is confident in its financial, technical, and human resources to achieve profitability by 2026 [37] - The ECO Synthesis platform is seen as a significant opportunity, with the company aiming to solidify partnerships for GMP production and expand its market reach [27][28] Other Important Information - The company plans to host a webcast investor recap call on November 14th to share updates from the TIDES Europe meeting [22] - The company is exploring opportunities to monetize non-core assets, including milestones from its relationship with Nestle [75] Q&A Session Summary Question: Key parameters for evaluating the success of ECO Synthesis - The two key parameters are overall yield of full-length product and the impurity profile [39] Question: Level of detail in future partnership announcements - The company aims to provide as much detail as possible, depending on the partner and the nature of the collaboration [40] Question: Early expectations for Paxlovid - The company is not assuming any revenue from Paxlovid and is not planning for it in its guidance [42] Question: Type of clients for ECO Synthesis technology - The company is seeing interest from major siRNA drug developers and CDMOs, with a focus on quality over quantity [45][46] Question: Major hurdles in forming partnerships - The company is focused on identifying a GMP scale-up partner and demonstrating the path to GMP for customers [50][51] Question: Revenue structure for ECO Synthesis collaborations - Collaborations could range from straight-up development contracts to joint development agreements with upfront milestones and royalties [65] Question: Investment magnitude for purification and kilogram-scale facility - Investments in purification and modernization are expected to be in the low-single-digit millions, with the kilogram-scale facility being a larger investment over time [69][70] Question: Monetization of non-core assets - The company is close to completing the monetization of non-core assets, with potential milestones from its relationship with Nestle [74][75] Question: Impact of bringing enzyme production in-house on gross margin - Bringing enzyme production in-house is expected to improve margins, particularly for new enzymes with higher margins [77] Question: Customer perception of Codexis - Customers are increasingly viewing Codexis as a leader in enzymatic synthesis of RNA constructs, with growing awareness in the siRNA market [86][87]

Codexis (CDXS) came out with a quarterly loss of $0.29 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16%. A quarter ago, it was expected that this producer of custom industrial enzymes would post a loss of $0.26 per share when it actually produced a loss of $0.32, delivering a surprise of -23.08%.Over the last four quarters, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34705 ___________________________ Codexis, Inc. (Exact name of registrant as specified in its charter) ____________________ ...

Exhibit 99.1 Codexis Reports Third Quarter 2024 Financial Results Quarter Highlights Include Key Additions to Management Team and Extension of Cash Runway into 2027 with $31M Raise via ATM Facility Company Reiterates Full-year Financial Guidance; On Track to Achieve Product Revenue Growth of at Least 10% vs. FY2023 Excluding Enzyme Sales Related to PAXLOVID™ REDWOOD CITY, Calif., October 31, 2024 — Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutic ...

REDWOOD CITY, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced the Company will have three data presentations at the upcoming TIDES Europe annual meeting, being held November 12-14, 2024, in Hamburg, Germany. The Company’s presentations will showcase real-world application of the ECO Synthesis™ manufacturing platform to enable the manufacture of siRNA through both ligation ...

REDWOOD CITY, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced that it will report its financial results for the third quarter of 2024 on Thursday, October 31, 2024, following the close of market. Codexis management will host a conference call and webcast at 4:30 pm Eastern Time to discuss the Company's financial results and provide a business update. Participants may acces ...