Financial Performance - Total revenue for fiscal year 2024 was $59.3 million, a decrease of 4% compared to $62.0 million in fiscal year 2023[7] - The net loss for fiscal year 2024 was $65.3 million, or $0.89 per share, compared to a net loss of $76.2 million, or $1.12 per share, for fiscal year 2023[8] - Total revenues for Q4 2024 were $21,460 million, a decrease of 19.5% compared to $26,561 million in Q4 2023[18] - The net loss for the year ended December 31, 2024, was $65,276 million, a slight improvement from a net loss of $76,240 million in 2023[18] Revenue Breakdown - Product revenues increased by 6% to $36.8 million for fiscal year 2024, compared to $34.8 million in fiscal year 2023[7] - R&D revenues for fiscal year 2024 were $22.6 million, down from $27.2 million in fiscal year 2023[7] - Product revenue for the year ended December 31, 2024, was $36,786 million, down from $42,906 million in 2023, representing a decline of 14.4%[18] - Research and development revenue increased to $11,642 million in Q4 2024 from $8,462 million in Q4 2023, marking a growth of 37.7%[18] Expenses and Margins - Product gross margin for fiscal year 2024 was 56%, down from 63% in fiscal year 2023[8] - R&D expenses for fiscal year 2024 were $46.3 million, a decrease from $58.9 million in fiscal year 2023[8] - Total costs and operating expenses rose to $28,802 million in Q4 2024, compared to $26,279 million in Q4 2023, an increase of 5.8%[18] Cash and Assets - Cash reserves as of December 31, 2024, were $73.5 million, providing a path to cash flow positivity anticipated by the end of 2026[8] - Cash and cash equivalents decreased significantly to $19,264 million in 2024 from $65,116 million in 2023, a decline of 70.5%[20] - Total assets increased to $149,011 million in 2024, up from $136,561 million in 2023, reflecting a growth of 9.5%[20] - Total liabilities rose to $82,084 million in 2024, compared to $49,946 million in 2023, an increase of 64.5%[20] - The accumulated deficit increased to $562,806 million in 2024 from $497,530 million in 2023, indicating a rise of 13.1%[20] Future Outlook - Codexis expects total revenues for 2025 to be in the range of $64 million to $68 million, indicating anticipated growth[14] - The company plans to achieve pilot scale production of GLP-grade siRNA material using the ECO Synthesis™ Innovation Lab in 2025[7] - Codexis aims to sign a GMP scale-up partner by the end of 2025 to enable larger scale clinical and commercial siRNA production[7] Share Information - The weighted average common stock shares used in computing net loss per share increased to 81,300 in Q4 2024 from 69,500 in Q4 2023[18]

Core Insights - Codexis, Inc. reported total revenue of $59.3 million for the fiscal year ended December 31, 2024, with expectations for double-digit growth in 2025 [1][8] - The company anticipates an acceleration of commercial growth through its ECO Synthesis™ platform and aims to secure a GMP scale-up partner [1][2] Financial Performance - Total revenues for fiscal year 2024 decreased by 4% compared to $62.0 million in fiscal year 2023, excluding enzyme sales related to PAXLOVID™ [8] - Product revenues increased by 6% to $36.8 million for fiscal year 2024 compared to $34.8 million in fiscal year 2023, excluding enzyme sales related to PAXLOVID™ [8] - R&D revenues for fiscal year 2024 were $22.6 million, down from $27.2 million in fiscal year 2023, primarily due to lower non-recurring items [8] - The net loss for fiscal year 2024 was $65.3 million, or $0.89 per share, compared to a net loss of $76.2 million, or $1.12 per share, for fiscal year 2023 [8] Recent Developments - Codexis completed the build-out of its ECO Synthesis™ Innovation Lab in December 2024, enabling the provision of analytical and process development services [3] - The company appointed Arthur Levin, PhD, to its Strategic Advisory Board in February 2025, bringing extensive experience in oligonucleotide development [3] - In October 2024, Codexis announced the licensing of a genomics life science enzyme portfolio to Alphazyme, LLC, which includes several key enzymes [3] Upcoming Initiatives - Codexis plans to sign its first development contract for ECO Synthesis™ manufacturing services in the first half of 2025 [8] - The company expects to achieve pilot scale production of GLP-grade siRNA material using the ECO Synthesis™ Innovation Lab in 2025 [8] - Codexis anticipates hosting presentations at the 2025 TIDES USA and TIDES Europe annual meetings to showcase the capabilities of its ECO Synthesis™ platform [8]

Core Insights - Codexis, Inc. will attend the TD Cowen 45th Annual Health Care Conference from March 3-5, 2025, in Boston, Massachusetts [1] - Management will participate in a fireside chat on March 4, 2025, at 1:10 pm ET, with a live webcast available on the company's Investor Relations website [2] Company Overview - Codexis is a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, utilizing its proprietary CodeEvolver technology platform to enhance novel, high-performance enzymes [3] - The company is developing the ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route, aiming for higher yields, reduced energy usage, and improved efficiency in manufacturing [3]

Core Viewpoint - Codexis, Inc. will report its financial results for Q4 and fiscal year 2024 on February 27, 2025, and will host a conference call to discuss these results and provide a business update [1]. Company Overview - Codexis is a leading provider of enzymatic solutions aimed at efficient and scalable therapeutics manufacturing, utilizing its proprietary CodeEvolver technology platform to enhance novel, high-performance enzymes [3]. - The company is developing the ECO Synthesis™ manufacturing platform to facilitate the scaled production of RNAi therapeutics through an enzymatic process [3]. - Codexis' enzymes contribute to improvements in pharmaceuticals manufacturing, including higher yields, reduced energy consumption, lower waste generation, and enhanced efficiency in genomic and diagnostic applications [3].

Core Insights - Codexis, Inc. has appointed Dr. Arthur Levin to its Strategic Advisory Board, enhancing its expertise in oligonucleotide development and manufacturing [1][2] - Dr. Levin's extensive experience includes developing the first approved antisense drugs and microRNA-targeted therapeutics, which will provide valuable guidance for Codexis's growth with its ECO Synthesis platform [2] - The Strategic Advisory Board, established in 2023, consists of experts in oligonucleotide synthesis and manufacturing, playing a crucial role in guiding Codexis's strategic direction [3][4] Company Overview - Codexis is a leading provider of enzymatic solutions aimed at efficient and scalable therapeutics manufacturing, utilizing its proprietary CodeEvolver technology platform [5] - The company is focused on developing its ECO Synthesis™ manufacturing platform to enable the large-scale production of RNAi therapeutics through enzymatic methods [5] - Codexis's unique enzymes are designed to improve yields, reduce energy consumption, and enhance efficiency in pharmaceutical manufacturing and nucleic acid synthesis [5]

Core Insights - Codexis, Inc. has appointed Christos Richards to its Board of Directors, which is expected to enhance the company's strategic direction in the life sciences sector [1][2][8] - Christos Richards brings over 30 years of experience in the biopharmaceutical and healthcare industry, having completed more than 450 executive assignments, including over 200 Board and CEO succession projects [3][5] - Codexis specializes in enzymatic solutions for therapeutics manufacturing, leveraging its proprietary CodeEvolver technology platform to develop high-performance enzymes [6] Company Overview - Codexis is focused on efficient and scalable therapeutics manufacturing, addressing challenges in small molecule pharmaceuticals and nucleic acid synthesis [6] - The company is developing the ECO Synthesis™ manufacturing platform to enable the scaled production of RNAi therapeutics through enzymatic methods [6] - Codexis' unique enzymes aim to improve yields, reduce energy usage and waste, and enhance efficiency in manufacturing processes [6] Leadership Insights - Stephen Dilly, Chairman and CEO of Codexis, expressed confidence in Christos Richards' expertise and its potential impact on the company's transformation [2] - Richards emphasized the potential of Codexis' proprietary technologies to drive growth in RNAi therapeutics and other novel modalities [3]

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 ...

Financial Performance & Guidance - Codexis' Q3 2024 product revenue reached $11.2 million, compared to $5.4 million in Q3 2023[22] - The company's product gross margin was 61% in Q3 2024, up from 58% in Q3 2023[22] - Codexis anticipates total revenue between $56 million and $64 million for 2024, with product revenue between $38 million and $42 million and R&D revenue between $18 million and $22 million[24] - As of September 30, 2024, Codexis had $90 million in cash, cash equivalents, and investments[10, 24] Strategic Initiatives & Developments - Codexis raised $31 million from existing investors via ATM[8] - The company expects to achieve pilot scale production with the ECO Synthesis Innovation Lab for GLP material in 2025[20] - Codexis aims to launch double-stranded RNA ligase Screening and Optimization Services[20] - The company is building out the ECO Synthesis Innovation Lab[20] Future Outlook - Codexis is targeting profitability by the end of 2026[9, 20, 24] - The company expects increasing orders for double-stranded RNA ligase from existing customers[9] - Codexis plans to supply GMP-grade siRNA drug substance for early-stage clinical trials[12]