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 ...

Company raises $31 million through ATM, bringing cash runway into 2027 New additions to leadership in technical operations, finance and intellectual property prepare Codexis for the next phase of growth REDWOOD CITY, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced an increase in its cash reserves through capital raises totaling $31 million via the Company's existing at-the ...

REDWOOD CITY, Calif., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced it has entered into a non-exclusive commercial and manufacturing license agreement with Alphazyme LLC, part of Maravai LifeSciences, for multiple enzymes in Codexis' life science enzyme portfolio. The agreement includes licenses for the HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other enzymes that were in development directed towa ...

REDWOOD CITY, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced that management will participate in two upcoming investor conferences. The Cantor Global Healthcare Conference (New York, NY) Tuesday, September 17, 2024, at 11:30 am ET, management will participate in a fireside chat The Craig-Hallum Bioprocessing Conference (Virtual) Thursday, September 19, 2024, at 2:00 pm ET, management will participate in a fireside chat A live we ...

REDWOOD CITY, Calif., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the Company will participate in a presentation and panel discussion at the upcoming RNA Leaders annual meeting, being held September 4-5, 2024, in San Diego, CA. The Company's presentations will focus on the use of enzymes to drive the scalable and cost-effective manufacture of short inhibitory ribonucleic acid (siRNA) duplexes. During a keynote panel presentation, Stef ...

REDWOOD CITY, Calif., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the approval of equity grants to three new employees as approved by the Compensation Committee of Codexis' Board of Directors. The newly hired employees received equity awards consisting of an aggregate of (i) options to purchase 137,950 shares of Codexis common stock and (ii) 27,000 restricted stock units (RSUs) as inducement awards under the company's 2024 Inducement ...

REDWOOD CITY, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the publication of its inaugural sustainability disclosures detailing the Company's environmental, social, and governance ("ESG") performance for the fiscal year ended December 31, 2023. The disclosures are aligned with guidance provided by the International Financial Reporting Standards' ("IFRS") Sustainability Accounting Standards Board ("SASB"). This marks an importa ...

Financial Data and Key Metrics - Q2 2024 total revenues were $8 million, including $6.3 million in product revenues and $1.7 million in R&D revenues, down compared to Q2 2023 [23] - Product gross margin was 45% in Q2 2024, down from Q2 2023 due to product mix [23] - R&D expenses decreased by 34% year-over-year to $11.4 million in Q2 2024, reflecting cost-saving measures [24] - SG&A expenses were $15.7 million in Q2 2024, including a one-time $2 million stock-based compensation charge [24] - The company ended Q2 with $73.2 million in cash, cash equivalents, and investments, sufficient to fund operations through positive cash flow expected by the end of 2026 [28] Business Line Performance - The pharma manufacturing business is expected to drive strong product revenue growth in the second half of 2024, supported by existing and expected orders [6][26] - The ECO Synthesis platform has accelerated commercial momentum, with the company now engaging with major players in the siRNA manufacturing space [7] - The double-stranded RNA ligase program is gaining traction, with a large pharma customer testing the technology for a Phase 2 asset moving into Phase 3 [13] Market and Strategic Focus - The company is focused on growing its pharmaceutical manufacturing business and enabling siRNA therapeutics through the ECO Synthesis platform [4] - The ECO Synthesis platform has demonstrated the ability to synthesize full-length oligonucleotides and achieve coupling efficiency of over 98%, comparable to traditional chemical methods [8][10] - The company is targeting a stepwise approach to becoming a direct producer of GMP-grade siRNA, with plans to produce GLP-grade material in 2025 [7][18] Management Commentary on Outlook - Management reiterated full-year 2024 guidance, expecting double-digit product revenue growth and a strong second half of the year [4][22] - The company is confident in its path to positive cash flow by the end of 2026, driven by growth in the pharma manufacturing pipeline and double-stranded RNA ligase orders [28][29] - The ECO Innovation Lab and potential GMP facility are seen as key drivers of future growth and value creation [19][21] Q&A Session Summary Question: How can the ECO Synthesis platform be leveraged for drugs in clinical testing? - The platform is applicable to drugs in development or on the market, with companies showing interest in the margin improvements it offers [31][32] - The double-stranded RNA ligase provides immediate cost savings for products in clinical trials, while the full ECO Synthesis platform can be applied for sequential synthesis and ligation [33] Question: What technical milestones remain for the ECO Synthesis platform? - Key priorities include reducing cycle time for iterative additions and developing an enzymatic route for critical reagents [36] - The company is ahead of schedule, with progress in delivering constructs for proof-of-concept comparisons with traditional chemical methods [37] Question: What is the demand for the ligase optimization service? - Customers are increasingly opting for in-house optimization services, which are faster and more efficient [38] - The service has expanded the pipeline of potential candidates, with confidence in securing additional ligase orders and attracting new customers [39] Question: What is the rationale for hiring Britton Jimenez as SVP of Commercial Operations? - Britton brings 20+ years of CDMO experience, addressing a skills gap as the company enters its next growth phase [41] Question: How is the funding environment impacting customer behavior? - The funding environment has improved, with no significant pushback on innovation budgets, and customers are eager to fund projects in the siRNA space [45][46]