REDWOOD CITY, Calif., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ:CDXS), a leading enzyme engineering company, today announced that it will report its financial results for the fourth quarter and fiscal year 2023 on Wednesday, February 28, 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 access the live webcast on the Codexis Investor R ...

Term loan agreement enables Company to accelerate development and enhance commercialization of ECO Synthesis™ manufacturing platform for RNAi therapeutics Financing bolsters cash position and provides additional flexibility on projected runway through positive cash-flow around end of 2026 Codexis management to host conference call today at 4:30 pm ET REDWOOD CITY, Calif., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ:CDXS), a leading enzyme engineering company, today announced it has entered into ...

BEVERLY, Mass. and REDWOOD CITY, Calif., Feb. 01, 2024 (GLOBE NEWSWIRE) -- seqWell, a global provider of genomic library workflow solutions, and Codexis, Inc. (NASDAQ:CDXS), a leading enzyme engineering company, today announced the creation of an engineered high-performance transposase enzyme designed to drive superior performance in sequencing applications. The co-development of this new transposase enzyme – called TnX transposase – builds upon a multi-year partnership between the two companies, leveraging ...

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Financial Data and Key Metrics Changes - The company reported a cash balance of approximately $75 million as of September 30, 2023, reflecting a strong financial position bolstered by a $135 million windfall from CDX-616 sales to Pfizer for PAXLOVID [6][28][45] - Product revenues for Q3 2023 were $5.4 million, down from $15.1 million in the prior year, attributed to the timing of customer orders [22][73] - R&D revenues decreased to $3.9 million in Q3 2023 from $6.4 million in the previous year, driven by the completion of partner programs [48] - The product gross margin, excluding enzyme sales related to PAXLOVID, was 58% in Q3 2023, compared to 55% in Q3 2022 [23] Business Line Data and Key Metrics Changes - The pharmaceutical manufacturing business is expected to return to growth in 2024, with Q4 product revenues anticipated to align with Q1 and Q2 of 2023 [22][74] - The company is focusing on the ECO Synthesis technology, which is projected to be commercially launched by 2026, with early commercial licenses expected in 2025 [30][130] Market Data and Key Metrics Changes - Market research indicates that demand for RNAi therapeutics is expected to grow to approximately 30,000 kilos annually by the end of the decade, necessitating significant capital investment in manufacturing [11][34] - The company is actively engaging with potential customers and collaborators, showing increased interest in the ECO Synthesis platform following presentations at industry conferences [16][56] Company Strategy and Development Direction - The company is strategically pivoting towards its ECO Synthesis platform, which aims to provide a more efficient and cost-effective solution for RNA synthesis compared to traditional phosphoramidite chemistry [34][135] - A strategic advisory board is being formed to ensure the ECO Synthesis platform meets market needs and to guide the company through the evolving landscape of RNAi therapeutics [31][134] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive cash flow around the end of 2026, supported by a strong balance sheet and reduced cash burn [5][30] - The company acknowledged the challenges of competing with established phosphoramidite chemistry but emphasized the unique advantages of its enzymatic solutions [82][102] Other Important Information - The company has taken decisive actions to reduce cash burn by over 50% year-on-year, focusing on high-potential programs and consolidating operations [132] - A significant one-time charge of $10 million was recorded due to the decision to exit the Biotherapeutics space and consolidate facilities [50] Q&A Session Summary Question: Can you elaborate on the TIDES EU conference and customer engagement? - Management noted that the conference generated excitement about the ECO Synthesis platform, with increased interest from potential collaborators compared to previous engagements [56][57] Question: What are the biggest challenges to achieving gram-scale synthesis for ECO? - The company highlighted the complexity of producing suitable oligos with appropriate modifications and purity, but expressed confidence in overcoming these challenges [91][92] Question: What is the expected size of initial orders for ECO Synthesis? - Initial orders are anticipated to be in the range of single-digit millions, with potential for growth as the technology is tested with customers [95] Question: How does the company plan to address concerns about the enzymatic approach's flexibility and productivity? - Management emphasized ongoing improvements in volumetric productivity and flexibility, aiming to demonstrate these advancements at upcoming events [81][100] Question: What is the outlook for the pharmaceutical manufacturing business in 2024? - The company expects growth from both existing and new customers, with a normalization of ordering patterns contributing to this growth [127]

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 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-34705 ___________________________ Codexis, Inc. (Exact name of registrant as specified in its charter) _____________________________________________ Delaware 71-0872999 (State or other jurisdiction of incorp ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------|----------------------------------|-------|----------------|-------|------------------------------------------|-------|-----------------------------------|--------------------------------------------| | Three Months Ended June 30, 2023 \nBalance as of April 1, 2023 | Common Stock \nShares \n66,696 | $ | \nAmount \n6 | $ | Additional Paid-in \nCapital \n569,917 | $ | ...

Operating expenses that directly support the segment activity are allocated based on segment headcount, revenue contribution or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments. This provides the CODM with more meaningful segment profitability reporting to support operating decisions and allocate resources. | --- | --- | --- | --- | --- | --- ...

16 For example, a product candidate is eligible for Fast Track designation if it is intended to treat a serious or life-threatening disease or condition and demonstrates the potential to address unmet medical needs for such disease or condition. Fast Track designation applies to the combination of the product candidate and the specific indication for which it is being studied. Fast Track designation provides increased opportunities for sponsor meetings with the FDA during preclinical and clinical developmen ...

Codexis, Inc. (NASDAQ:CDXS) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET Company Participants Stephen Dilly - President, CEO & Director Kevin Norrett - COO Sriram Ryali - CFO Conference Call Participants Steven Mah - Cowen Company Brandon Couillard - Jefferies Matthew Hewitt - Craig-Hallum Operator Welcome to the Codexis Fourth Quarter and Full Year 2022 Earnings Conference Call. A question-and-answer session will follow the formal presentation. [Operator Instructions]. And now I'll turn th ...