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.
Codexis, Inc. (NASDAQ: CDXS) generates news primarily around its enzymatic technologies for therapeutics manufacturing and the development of its ECO Synthesis® / ECO Synthesis™ manufacturing platform. The company’s announcements frequently highlight progress in applying enzyme-based processes to small molecule pharmaceuticals manufacturing and nucleic acid synthesis, as well as steps toward enabling scaled manufacture of RNAi therapeutics, including siRNA and other oligonucleotides, through enzymatic routes.
News about Codexis often covers financial results and business updates, where the company reports on revenues, product gross margins, research and development spending, and strategic priorities. These releases typically include commentary on the performance of its Pharma Biocatalysis business, the status of ECO Synthesis-related activities, and the company’s cash position and funding plans as disclosed in its quarterly and annual reporting cycles.
Another recurring theme in Codexis news is collaborations and evaluation agreements with organizations involved in oligonucleotide therapeutics. The company has announced agreements with CDMOs and CRDMOs such as Nitto Denko Avecia and Axolabs to evaluate the ECO Synthesis manufacturing platform for therapeutic siRNA and other oligonucleotides. These updates describe how partners assess Codexis’s enzymatic approach and indicate that such evaluations may lead to licensing discussions and broader adoption.
Codexis also issues news about infrastructure and strategic initiatives, including the signing of a lease for a GMP manufacturing facility in Hayward, California, intended to support GMP manufacturing of siRNA and other oligonucleotides using ECO Synthesis. Additional releases detail organizational changes, leadership transitions, workforce streamlining aligned with an enhanced focus on ECO Synthesis, and participation in industry conferences such as TIDES USA and TIDES Europe, where Codexis and its collaborators present data on enzymatic manufacturing technologies.
Investors and observers who follow CDXS news can use this stream of updates to monitor Codexis’s progress in advancing enzyme-based manufacturing platforms, its relationships with manufacturing partners, and its evolving strategic focus within therapeutics manufacturing.
Codexis, Inc. (NASDAQ: CDXS) announced the appointment of Sri Ryali as Chief Financial Officer, effective immediately. With 20 years in finance and commercial experience in life sciences, Ryali will oversee all financial operations, reporting directly to Dr. Stephen Dilly, President and CEO. Dr. Dilly highlighted that Ryali's expertise will enhance the strategic leadership team as the company focuses on high-potential programs in 2023. Ryali previously served as CFO at Eiger BioPharmaceuticals and held senior finance roles in other biotech firms. His experience is expected to drive long-term shareholder value through commercial opportunities.
Codexis has appointed H. Stewart Parker to its Board of Directors. Parker brings extensive experience in gene therapy and biopharmaceuticals, previously serving in leadership roles at notable organizations such as Targeted Genetics and the Infectious Disease Research Institute. Her expertise will support Codexis as it aims to enhance its board diversity and drive significant value through its enzyme engineering programs. Parker expresses enthusiasm for leveraging her insights to promote the company’s growth and innovation in biotherapeutics.
Codexis (NASDAQ: CDXS) announced a strategic shift to focus on high-potential commercial opportunities, leading to workforce reduction by 18% and discontinuation of certain internal development programs. Under CEO Dr. Stephen Dilly's leadership, the company aims to enhance value and preserve its cash runway through the end of 2024 with expected annual savings of approximately $15 million. Codexis reiterated its financial guidance for 2022 while anticipating that these changes will be largely implemented by December 31, 2022.
Codexis, a leader in enzyme engineering, will engage in a fireside chat at the Piper Sandler 34th Annual Healthcare Conference from November 29 to December 1, 2022, in New York City. The chat is scheduled for December 1, 2022, at 1:30 p.m. ET and will be webcast live, with an archive available for 90 days post-event. Codexis focuses on developing innovative enzymes and biotherapeutics that enhance sustainability in pharmaceuticals and food production, promising significant operational improvements.
Codexis, a leader in enzyme engineering, announced management's participation in three investor conferences. The events are: the Stephens Annual Investment Conference on November 15, 2022, the Stifel 2022 Healthcare Conference on November 16, 2022, and the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022.
Live webcasts of the fireside chats will be available on the company's website, with replays archived for 90 days post-event.
Codexis reported Q3 2022 financial results, revealing total revenues of $34.5 million, down 6% year-over-year. Product revenues decreased by 2% to $28 million, driven by reduced enzyme sales related to Pfizer's PAXLOVID. R&D revenues fell to $6.4 million, while R&D expenses rose to $21.8 million. The company's net loss was $10 million, translating to a loss of $0.15 per share. Codexis reiterated its total revenue guidance for 2022 at $135-$141 million, expecting product revenues of $112-$118 million, alongside a gross margin of 65%-70%. Cash reserves stand at $108.7 million.
Codexis (NASDAQ: CDXS) has appointed Margaret Fitzgerald as Chief Legal Officer and General Counsel. Effective immediately, she will oversee the company’s legal and compliance functions, reporting to President and CEO Dr. Stephen Dilly. Fitzgerald brings over 20 years of experience in the biotechnology sector, previously serving as General Counsel at Allakos, Inc. Her extensive background in legal matters, product development, and compliance is expected to bolster Codexis's strategic growth in enzyme engineering, enhancing its capacity for innovation across core markets.
Codexis, Inc. (Nasdaq: CDXS) will report its Q3 2022 financial results on November 3, 2022, after market close. A conference call and webcast for discussing the results and providing a business update will follow at 4:30 p.m. ET. Participants can access the live webcast via Codexis' Investor Relations website. Codexis specializes in enzyme engineering, with applications in pharmaceuticals, food, and industrial products, aimed at improving sustainability and health outcomes.
Codexis, Inc. (NASDAQ: CDXS) has appointed Kevin Norrett as Chief Operating Officer (COO) to spearhead corporate growth and operational strategies. Norrett, with over 20 years in the biotech sector, including roles at Sierra Oncology and Angion Biomedica, will work with CEO Dr. Stephen Dilly. His appointment aims to strengthen Codexis' leadership in Performance Enzymes and Biotherapeutics, particularly in sustainable manufacturing for life sciences. Norrett expressed enthusiasm for converting Codexis' scientific innovations into commercial outcomes.
Codexis has appointed Dr. Rahul Singhvi to its Board of Directors, enhancing its leadership team. Dr. Singhvi, possessing over 30 years of biotechnology experience, previously held significant roles at Takeda, Novavax, and Merck. He is recognized for his expertise in drug development and biomanufacturing, currently serving as CEO of National Resilience. His addition is expected to bolster Codexis’ innovative product pipeline and further the company's mission in enzyme engineering and biotherapeutics. This strategic move is anticipated to drive growth and enhance market position.
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