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. 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, Inc. (CDXS) reported a strong fiscal year 2020, achieving total revenues of $69.1 million, marking a 1% increase from 2019. Product revenues rose to $30.2 million, boosted by higher sales of branded pharmaceutical products. The company achieved its highest product gross margin at 54.5%. R&D expenses increased to $44.2 million, while the net loss for the year was $24.0 million, or $0.40 per share. For 2021, Codexis forecasts total revenues between $82-85 million and product revenues between $36-39 million, with a gross margin of 54-58%.
Codexis, based in Redwood City, California, will present at three virtual investment conferences in late February and March 2021. Key events include the SVB Leerink Global Healthcare Conference on February 26 at 1:40 p.m. ET, the Cowen Health Care Conference on March 4 at 12:50 p.m. ET and 2:50 p.m. ET, and the H.C. Wainwright Life Sciences Conference on March 9-10. Live webcasts will be accessible on the company's Investor Relations webpage, with replays available for 30 days. Codexis specializes in enzyme engineering and sustainable manufacturing solutions.
Codexis, a leader in enzyme engineering, announced it will release its fourth quarter and full year 2020 financial results on February 25, 2021, post-market. Following the announcement, management will host a conference call and webcast at 4:30 p.m. ET to discuss the results and provide a business update. Investors can access the live webcast through the Codexis Investor Relations website, and a replay will be available for 48 hours. Codexis uses its proprietary CodeEvolver technology for developing biocatalysts across pharmaceuticals and diagnostics.
Codexis (Nasdaq:CDXS) announced plans to expand operations with a new 36,000 square foot facility in San Carlos, CA, under a ten-year lease. This strategic move aims to enhance research and development capabilities, accommodating around 90 employees. The facility is expected to be ready by Q4 2021. CEO John Nicols highlighted the company's rapid growth in life sciences and sustainable manufacturing, anticipating continued acceleration through new partnerships and self-funded clinical programs.
Codexis (Nasdaq:CDXS) announced the appointment of Esther Martinborough, Ph.D., to its board of directors, expanding the board to ten members. Dr. Martinborough brings over two decades of experience in drug discovery and development, having played a key role in the successful approval of Zeposia® for Multiple Sclerosis. Currently the Senior Vice President of Research at Escient Pharmaceuticals, her expertise is expected to contribute significantly to Codexis’ Biotherapeutics initiatives, enhancing its product development capabilities.
Codexis (CDXS) has extended its collaboration with Tate & Lyle, focusing on advancing the production of the DOLCIA PRIMA® Allulose and TASTEVA® M Stevia Sweetener. This partnership aims to improve production efficiencies through novel enzyme products developed by Codexis, potentially reducing costs linked to these sweeteners. Tate & Lyle’s new offerings target healthier consumer options, addressing diabetes and obesity issues. The collaboration, ongoing for seven years, underscores the importance of Codexis's enzyme technology in supporting Tate & Lyle's product development.
Codexis (Nasdaq:CDXS) announces that President and CEO John Nicols will participate in a virtual fireside chat at the H.C. Wainwright BioConnect 2021 Conference from January 11-14, 2021. The recorded session will be accessible starting January 11 at 6:00 a.m. ET on the company's investor website, available for 30 days. Codexis specializes in protein engineering, utilizing its CodeEvolver® technology to enhance protein performance for pharmaceuticals, enzymes, and diagnostics, promoting sustainable manufacturing processes.
Codexis (Nasdaq: CDXS) announced a public offering of 4,285,715 shares at $17.50 each, aiming to raise approximately $70.2 million after expenses. The offering is expected to close around December 7, 2020, pending customary conditions. Proceeds will support R&D and infrastructure to enhance performance enzymes and biotherapeutics, as well as fund potential acquisitions or investments. Jefferies LLC, Cowen and Company, LLC, and Stifel are managing the offering, with an additional 642,857 shares available for underwriters within 30 days.
Codexis (Nasdaq: CDXS) has launched an underwritten public offering of its common stock, with plans to grant underwriters a 30-day option to purchase an additional 15% of shares. The net proceeds will fund R&D, enhance infrastructure, and support the development of performance enzymes and biotherapeutics. Codexis may also invest in complementary businesses. Notably, Jefferies LLC, Cowen and Company, and Stifel are managing the offering. Market conditions may impact the completion and terms of this offering.
Codexis (NASDAQ: CDXS) and Casdin Capital have launched the SynBio Innovation Accelerator, aimed at funding early-stage companies in synthetic biology. This initiative will see Casdin planning to invest upwards of $50 million in the sector. The first investment is a $1.75 million stake in Arzeda, a computational protein design firm, where both companies will collaborate to enhance enzyme development using machine learning. John Nicols, CEO of Codexis, emphasized the transformative potential of synthetic biology, while Eli Casdin highlighted the accelerator's role in stimulating innovation.