REDWOOD CITY, Calif., Feb. 25, 2026 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable manufacturing of complex therapeutics, today announced that it will report its financial results for the fourth quarter and fiscal year 2025 on Wednesday, March 11, 2026, 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 ...

REDWOOD CITY, Calif., Feb. 17, 2026 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable manufacturing of complex therapeutics, today announced the Company will attend the TD Cowen 46th Annual Health Care Conference, being held March 2-4, 2026, in Boston, Massachusetts. Management will participate in a fireside chat on Tuesday, March 3, 2026, at 11:50 am ET. A live webcast of the event will be available in the Investor Relations section of th ...

Core Insights - Codexis Inc. has achieved ISO 9001:2015 certification, demonstrating its commitment to high-quality manufacturing processes across all operations [1][4]. Group 1: Certification Details - The ISO 9001:2015 certification reflects Codexis's dedication to quality assurance in research and development, product manufacturing, testing, delivery, support, and customer service [1][2]. - The certification applies to Codexis's headquarters in Redwood City, California, which includes research and development facilities and a non-GMP manufacturing facility [2]. Group 2: Quality Management System - ISO 9001 is a globally recognized standard for establishing and certifying a quality management system (QMS), applicable to organizations of all types and sizes [3]. - The certification signifies that Codexis has implemented effective processes and controls to ensure consistent quality from design to delivery [4]. Group 3: Company Overview - Codexis is a leading provider of enzymatic solutions for scalable therapeutics manufacturing, utilizing its proprietary CodeEvolver technology platform [5]. - 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 and reduced energy usage [5].

Core Viewpoint - Codexis (CDXS) has experienced a significant downtrend, with a 30% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Technical Analysis - The Relative Strength Index (RSI) is a key technical indicator used to determine if a stock is oversold, with readings below 30 indicating oversold conditions [2]. - CDXS has an RSI reading of 25.05, suggesting that the heavy selling pressure may be exhausting, indicating a possible bounce back towards equilibrium [5]. Group 2: Fundamental Analysis - Analysts have shown strong consensus in raising earnings estimates for CDXS, with a 0.5% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [7]. - CDXS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [8].

Core Insights - Codexis, Inc. has signed a lease for a 34,000 square foot GMP manufacturing facility in Hayward, California, marking a significant step in its transformation into a key development partner for enzymatic manufacturing of oligonucleotides [1][3] Company Developments - The new facility will enhance Codexis's internal capabilities for GMP manufacturing of siRNA and other oligonucleotides using its ECO Synthesis platform, with modifications expected to begin in early 2026 [2] - The facility's flexible design will also support the scaling of high-quality purified enzymes, which are essential components of the ECO Synthesis platform [2] Strategic Vision - The establishment of this facility is seen as a pivotal move for Codexis, allowing the company to provide manufacturing services to customers for early clinical trials, thereby reinforcing its commitment to improving siRNA production quality and service [3] - The adaptability of the facility is intended to meet the evolving needs of the business, positioning Codexis as a full-service manufacturing technology innovator in the oligonucleotide sector [3][4]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

分组1 - Codexis reported a quarterly loss of $0.22 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, and an improvement from a loss of $0.29 per share a year ago, indicating an earnings surprise of -46.67% [1] - The company posted revenues of $8.6 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 53.96%, and down from $12.83 million in the same quarter last year [2] - Codexis shares have declined approximately 54.9% year-to-date, contrasting with the S&P 500's gain of 15.6% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $23.61 million, and for the current fiscal year, it is -$0.67 on revenues of $65.14 million [7] - The Zacks Industry Rank for Medical - Biomedical and Genetics is in the top 41% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were $8.6 million, down from $12.8 million in Q3 2024, primarily due to variability in customers' manufacturing schedules and clinical trial progression [15] - Product gross margin increased to 64% in Q3 2025 from 61% in Q3 2024, attributed to a shift towards more profitable products [16] - Net loss for Q3 2025 was $19.6 million, or $0.22 per share, compared to a net loss of $20.6 million, or $0.29 per share, in Q3 2024 [17] Business Line Data and Key Metrics Changes - The company has transitioned from one revenue-bearing contract to 11, with 40 more in the pipeline, indicating strong commercial traction for the Eco-synthesis platform [4][5] - The historical small molecule biocatalysis business is expected to experience a decline in service revenue next year, but this will be offset by development services in the ligase and Eco-synthesis areas [12] Market Data and Key Metrics Changes - The company is moving away from promoting its historical small molecule biocatalysis business due to pricing pressures and is refocusing on the ligase and Eco-synthesis business lines [12] - There are 14 drugs using the company's enzymes in phase three clinical trials, with data readouts expected in the next 12 months, which could fuel growth in the existing pipeline [13] Company Strategy and Development Direction - The company aims to transform into a full-service manufacturing innovator in oligonucleotide manufacturing, with plans to build a GMP facility for siRNA production [4][5] - The leadership transition is designed to streamline operations and focus on Eco-synthesis, enhancing the company's ability to deliver production technologies to customers [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market potential for the Eco-synthesis platform and the importance of optimizing the organization for future success [5][6] - The restructuring is expected to reduce the company's burn rate by approximately 25%, extending its financial runway through 2027 [15] Other Important Information - The company signed a supply assurance agreement with Merck, providing a vital infusion of non-dilutive cash to support business plans [11] - The company is preparing for presentations at Tides Europe, focusing on technology scaling and in-process analytics, which are expected to be impactful for commercial progress [34] Q&A Session Summary Question: Impact of leadership transition on partnership strategy - Management confirmed that the transition will not change their plans and they are encouraged by the progress made in securing early-phase contracts [20] Question: Unique capabilities of Nitto Avecia - Management highlighted Nitto Avecia's expertise in scaling technology for larger batch sizes, which is crucial for phase two, phase three, and commercial production [28] Question: Contribution of siRNA revenue to product revenue segment - Current contracts are in the service area, and while service revenue is expected to remain consistent, the source of that revenue is shifting [32] Question: Expectations for Tides Europe presentations - The company plans to showcase data on technology scaling and in-process control, which are anticipated to be first-in-class presentations for siRNA therapeutic developers [34]

Revenue Performance - Total revenues decreased by $4.2 million to $8.6 million in the three months ended September 30, 2025, a decline of 33% compared to the same period in 2024[96]. - Product revenue fell by $4.4 million to $6.8 million in the three months ended September 30, 2025, representing a 39% decrease year-over-year[97]. - Research and development revenue increased by $0.1 million to $1.8 million in the three months ended September 30, 2025, a 7% increase compared to the same period in 2024[98]. - Product revenue for the three months ended September 30, 2025, was $6,807,000, a decrease of $4,351,000 or 39% compared to $11,158,000 in 2024[101]. Expenses and Losses - Total costs and operating expenses decreased by $1.8 million to $27.6 million in the three months ended September 30, 2025, a 6% reduction compared to the same period in 2024[100]. - Loss from operations increased by $2.4 million to $18.9 million in the three months ended September 30, 2025, a 14% increase compared to the same period in 2024[92]. - Research and development expenses increased by $2.4 million in the three months ended September 30, 2025, primarily due to higher employee-related costs and lab supplies[103]. - Selling, general and administrative expenses decreased by $2.4 million during the three months ended September 30, 2025, mainly due to lower consulting and outside services[105]. - Net loss for the three months ended September 30, 2025, was $19.6 million, a slight improvement from a net loss of $20.6 million in the same period in 2024[113]. Cash Flow and Financing - Cash and cash equivalents increased to $25,351,000 as of September 30, 2025, compared to $19,264,000 at December 31, 2024[116]. - The company borrowed an additional $10.0 million on June 27, 2025, under a loan agreement, bringing the total borrowed to $40.0 million[115]. - Net cash used in operating activities increased by $6.5 million to $(39,468) thousand for the nine months ended September 30, 2025, compared to $(32,942) thousand in 2024[125]. - Net cash provided by investing activities increased by $71.9 million to $17,789 thousand for the nine months ended September 30, 2025, compared to $(54,117) thousand in 2024[126]. - Net cash provided by financing activities decreased by $31.6 million to $27,748 thousand for the nine months ended September 30, 2025, compared to $59,390 thousand in 2024[127]. - As of September 30, 2025, unrestricted cash, cash equivalents, and short-term investments totaled $58.7 million[131]. Interest Income and Other Income - Interest income decreased by $0.2 million to $0.6 million in the three months ended September 30, 2025, a 25% decline year-over-year[92]. - Interest income decreased by $0.2 million and $0.8 million in the three and nine months ended September 30, 2025, respectively, due to lower average cash balances[109]. - Total other income (expense), net for the three months ended September 30, 2025, was $(4,073,000), a decrease of $1,248,000 or 84% compared to the same period in 2024[107]. Future Outlook and Risks - The company expects that existing cash and cash equivalents, along with future product revenues, will provide adequate funds for operations for at least the next 12 months[122]. - The company may require additional capital for product development and commercialization, depending on various factors including financial success and market opportunities[123]. - The company is exposed to foreign currency risk, particularly from non-functional currency denominated monetary assets, which may affect operational results[133]. - A hypothetical 10% decrease in market interest rates would result in a $0.3 million impact on future interest income and cash flows[131]. Research and Development Initiatives - The ECO Synthesis Innovation Lab was completed at the end of 2024, enabling the synthesis of gram-scale quantities of siRNA constructs for pre-clinical testing[90]. - In 2025, the company expects to manufacture GLP-grade siRNA for customers and anticipates entering a partnership with a large-scale CDMO for GMP-grade siRNA production[90]. - The company reported a 19% increase in research and development expenses to $40.6 million for the nine months ended September 30, 2025, compared to $34.2 million in the same period in 2024[100]. - Product gross margin improved to 64% for both the three and nine months ended September 30, 2025, compared to 61% and 53% in the corresponding periods in 2024[101].

Business Highlights - Codexis secured a $37.8 million Supply Assurance Agreement with Merck [7, 15] - The company expects to receive the cash from the Merck agreement by the end of 2025 [7, 15] - Codexis has a cash runway through 2027 [7] - Codexis has 11 customers this year and a pipeline of 40 prospects [7, 13] - The company will sign a lease on a 34,000 square feet multi-purpose GMP facility in the next few weeks [7] Executive Management Transition and Cost Reduction - Codexis is reducing operating expenses by 25% through the elimination of 46 positions [10] - Dr Stephen Dilly will transition to Chairman, and Dr Alison Moore will assume the role of President and CEO [10] Q3 2025 Financial Results - Total revenue for Q3 2025 was $8.6 million, compared to $12.8 million in Q3 2024 [16] - Product gross margin increased to 64% in Q3 2025 from 61% in Q3 2024 [16] - R&D expenses for Q3 2025 were $13.9 million, compared to $11.5 million in Q3 2024 [16] - Net loss for Q3 2025 was $19.6 million, or $0.22 per share, compared to a net loss of $20.6 million, or $0.29 per share, in Q3 2024 [16]