Codexis Inc Stock Price, News & Analysis

Codexis (CDXS) has entered a tri-party collaboration agreement with Almelo Private and RC2 Pharma Connect to license and use Codexis' proprietary enzyme for manufacturing sitagliptin, an active pharmaceutical ingredient for diabetes treatment. Almelo will develop and optimize the commercial manufacturing process, while RC2 will enhance supply chain efficiency for the future generic sitagliptin market. This partnership aims to reduce costs and improve production sustainability, positioning all parties for success in a competitive market.

Codexis (Nasdaq: CDXS) announced an extension of its agreement with Merck to license and supply a proprietary enzyme used in the manufacturing of sitagliptin, the API in Merck’s JANUVIA® and JANUMET®. This partnership, which has lasted over a decade, will now extend through December 31, 2026, with a potential 5-year renewal. The enzyme enhances manufacturing efficiency, reducing costs and waste. Codexis and Merck previously won the EPA's Presidential Green Chemistry Challenge Award for their innovative manufacturing method.

Codexis (Nasdaq:CDXS), an enzyme engineering leader, announced its participation in two virtual investment conferences. The H.C. Wainwright 23rd Annual Global Investment Conference will take place on September 13, 2021, featuring an on-demand corporate presentation. Following that, the Cantor Virtual Global Healthcare Conference is scheduled for September 28, 2021, with a fireside chat at 10:40 a.m. ET. Webcasts of both events will be available on the Company's Investor Relations website for 90 days post-event, highlighting Codexis' advancements in synthetic biology and enzyme technology.

Orders Support Company’s Recently Increased 2021 Guidance

Codexis (Nasdaq: CDXS) announced new purchase orders totaling approximately $15 million for 2021, related to a proprietary enzyme for a global pharmaceutical client. These orders align with the forecast provided on August 5, projecting total revenues between $98 - $103 million and product revenues of $59 - $63 million. This marks an increase in guidance, with strong market demand anticipated. CEO John Nicols praised the team's commitment, indicating it will be the largest annual product sale in the company's history.

Codexis (CDXS) reported a remarkable second quarter, achieving a record product revenue of $14.7 million, a surge of 227% year-over-year. The product gross margin also reached a high of 71%, attributed to a favorable sales mix. The company has raised its FY 2021 revenue guidance to $98 - $103 million and product revenue guidance to $59 - $63 million. Key highlights include significant orders from global pharmaceutical companies and expansion of partnerships, notably with Takeda, reflecting strong demand in their enzyme products and biotherapeutics.

Codexis (Nasdaq: CDXS) and Kalsec have expanded their research collaboration and entered an exclusive supply agreement for a novel enzyme aimed at producing Kalsec's latest natural hop acid. Developed using Codexis' CodeEvolver® platform, this enzyme enhances functionality, stability, and efficiency, promising commercial production by early 2022. Kalsec's CEO emphasized the importance of this innovation for meeting market demand for high-performing hop products, while Codexis' CEO highlighted the sustainable benefits of their enzyme technology for food and beverage manufacturing.

Codexis (CDXS) and Kalsec have expanded their research collaboration, entering into an exclusive supply agreement for a new enzyme aimed at producing Kalsec's latest natural hop acid. This enzyme, developed using Codexis’ CodeEvolver technology, enhances functionality, stability, and efficiency, enabling commercial-scale production by early 2022. The partnership aims to create innovative, sustainable bioprocesses, contributing to product differentiation in the competitive food and beverage market. Both companies emphasize sustainability and the potential for reduced manufacturing costs.

Codexis, Inc. (Nasdaq:CDXS) will announce its Q2 2021 financial results on August 5, 2021. A conference call will follow at 4:30 p.m. ET for discussion and updates. The company specializes in enzyme engineering and aims to enhance sustainable manufacturing across various sectors, including pharmaceuticals and food. Their proprietary CodeEvolver® platform drives innovation in biotherapeutics and diagnostics while improving resource efficiency. Investors can access the live call via the Codexis Investor Relations website.

Codexis, Inc. (CDXS) announced the successful completion of its CodeEvolver® platform technology transfer to Novartis Pharma AG. This collaboration, initiated in May 2019, allows Novartis to utilize CodeEvolver® for developing high-performance enzymes in pharmaceutical manufacturing. The new enzymes promise reduced capital requirements, higher yields, and lower energy usage compared to conventional chemistry methods. Codexis has now achieved three similar collaborations, with this being the first conducted virtually due to the pandemic's challenges.