Welcome to our dedicated page for Codexis news (Ticker: $CDXS), a resource for investors and traders seeking the latest updates and insights on Codexis stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Codexis's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Codexis's position in the market.
Codexis, Inc. (NASDAQ: CDXS) reported a 32% increase in total revenue for Q1 2024, with product revenue up 14%. The company secured its first substantial order for dsRNA Ligase from a large pharma customer. Codexis also received a $40 million loan facility agreement with Innovatus, strengthening its cash position. Additionally, the company entered into an exclusive global license agreement with Roche Sequencing Solutions, Inc. Codexis expects to achieve significant milestones in enzymatic synthesis and ECO Synthesis™ platform development, with a focus on DNA ligation. Financially, the company saw positive growth in total and product revenues, improved product gross margin, and reduced R&D and SG&A expenses. The net loss decreased compared to Q1 2023, with cash reserves to support operations until positive cash flow is expected in 2026. Codexis reaffirmed its 2024 financial guidance, anticipating growth across product and R&D revenues.
