Codexis, Inc. develops enzyme-based solutions for therapeutics manufacturing, using its CodeEvolver technology to discover and improve high-performance enzymes. Company news commonly covers financial results, guidance, cash-runway commentary, and business updates tied to small molecule pharmaceutical biocatalysis, nucleic acid synthesis, and the ECO Synthesis manufacturing platform for enzymatic RNAi and siRNA production.
Recurring developments include partner and evaluation agreements, technology-transfer activity, quality-system and manufacturing-suite updates, conference data on ECO Synthesis capabilities such as phosphorothioate stereochemistry and ligation efficiency, and portfolio updates for enzymes used in branded pharmaceutical products.
Codexis has appointed Karen Frechou-Armijo as Senior Vice President of Human Resources and Asli Aras, Ph.D., as Vice President of Corporate Development. Frechou-Armijo brings extensive HR experience, previously growing employee numbers at Cepheid significantly. Dr. Aras, with a strong background in corporate development, will enhance Codexis’ inorganic growth strategy. Both executives report to John Nicols, President and CEO, who emphasized their roles in building a high-performance culture and advancing growth opportunities as Codexis prepares for a crucial year ahead.
Codexis (Nasdaq: CDXS) announced participation in three upcoming virtual investment conferences on November 16-18, 2021, showcasing its leading enzyme engineering capabilities. The events include the 12th Annual Craig-Hallum Alpha Select Conference, the Stifel 2021 Virtual Healthcare Conference, and the Jefferies London Healthcare Conference with scheduled 1x1 meetings and fireside chats. Webcasts will be available on Codexis' Investor Relations webpage for 30 days post-event. Codexis' innovations in enzyme technology aim to enhance sustainable manufacturing and biotherapeutics.
Codexis, Inc. (Nasdaq:CDXS) reported impressive financial results for Q3 2021, with total revenues reaching $36.8 million, a 100% increase from Q3 2020. Product revenues surged 242% to $28.7 million, driven by significant enzyme sales for Pfizer's COVID-19 antiviral candidate. The company achieved a record product gross margin of 76%. Codexis reiterated its total revenue guidance for FY 2021 at $98-103 million and raised product revenue guidance to $63-66 million. The company continues to expand its collaborations, including new agreements with Merck and Kalsec.
Codexis (CDXS) announced a $10 million investment in Molecular Assemblies, Inc. (MAI) through the SynBio Innovation Accelerator, aimed at accelerating MAI's enzymatic DNA synthesis technology. This partnership, initiated in June 2020, seeks to make DNA synthesis more cost-effective.
Codexis is the second largest shareholder in MAI and has a board seat. The investment highlights Codexis' commitment to pioneering solutions in synthetic biology, necessary for enhancing DNA synthesis capabilities. The SynBio Innovation Accelerator supports early-stage companies with disruptive technologies in synthetic biology.
Codexis (NASDAQ: CDXS) has commenced a Phase 1 study for its novel biotherapeutic, CDX-7108, in collaboration with Nestlé Health Science. This enzyme aims to address exocrine pancreatic insufficiency (EPI) caused by conditions like pancreatitis and cystic fibrosis. The study will assess safety, tolerability, pharmacokinetics, and pharmacodynamics through a randomized, double-blind trial with healthy subjects and EPI patients. This partnership leverages Codexis’ enzyme engineering platform for innovative therapies, signaling a significant advancement in treatment options for EPI patients.
Codexis (Nasdaq: CDXS) will report its third quarter 2021 financial results on November 4, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET, where management will discuss the results and provide a business update. The call can be accessed domestically at 866-682-6100 and internationally at 862-298-0702, using conference ID #13724176. Codexis leverages its CodeEvolver® platform to develop high-performance enzymes for various applications, emphasizing sustainability and efficiency.
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.