Codexis Inc Stock Price, News & Analysis

Codexis (NASDAQ: CDXS) has appointed Raymond De Vré, PhD, to its Board of Directors. Dr. De Vré brings over 20 years of executive experience and currently serves as Managing Director at RADV Advisory. His previous roles include CEO of PolyPeptide Group, Senior VP at Dr. Reddy's Laboratories, and Partner at McKinsey & Company. He holds a PhD in Applied Physics from Stanford University and brings expertise in oligonucleotide manufacturing and commercial strategy to Codexis's ECO Synthesis platform development.

Codexis (NASDAQ: CDXS) announced three presentations at TIDES Europe 2024 in Hamburg, showcasing its enzymatic synthesis platform for RNAi therapeutics. The company will feature data comparing its double-stranded RNA ligase variants to wild-type enzymes in a joint poster with Bachem. Two oral presentations will highlight: the RNA Ligase Screening & Optimization Services capabilities and the ECO Synthesis™ manufacturing platform, demonstrating four routes of synthesis for a commercial siRNA therapeutic. The presentations will take place November 12-14, 2024, followed by a management conference call to discuss the data.

Codexis (NASDAQ: CDXS) has announced the approval of an equity grant for one new employee. The inducement award includes 50,000 stock options and 15,000 restricted stock units (RSUs) under the company's 2024 Inducement Plan. The stock options will vest over four years, with 25% vesting after the first year and the remainder vesting monthly. The RSUs will vest in equal annual installments over three years. Both grants are subject to continued employment with Codexis.

Codexis (NASDAQ: CDXS) has announced its participation in four major healthcare conferences in November 2024. The company will engage in fireside chats at the Stifel Healthcare Conference (New York, November 18), the Jefferies London Healthcare Conference (London, November 19), and the Stephens Annual Investment Conference (Nashville, November 21). Additionally, management will host one-on-one investor meetings at the Craig-Hallum Alpha Select Conference in New York on November 19. Live webcasts of the fireside chats will be available on Codexis's investor relations website, with replays accessible for 90 days post-presentation.

Codexis (NASDAQ: CDXS) reported Q3 2024 financial results with total revenues of $12.8M, up from $9.3M in Q3 2023. Product revenues increased to $11.2M from $5.4M year-over-year. The company raised $31M via ATM facility, extending cash runway into 2027. Net loss was $20.6M ($0.29 per share) compared to $34.9M ($0.50 per share) in Q3 2023.

The company appointed Georgia Erbez as CFO and Alison Moore as CTO, licensed its genomics enzyme portfolio to Alphazyme, and maintains its 2024 guidance with product revenues expected between $38M-$42M excluding PAXLOVID™-related revenue. Gross margin on product revenue is projected at 58-63%.

Codexis (NASDAQ: CDXS) announces three upcoming data presentations at the TIDES Europe annual meeting in Hamburg, Germany, from November 12-14, 2024. The presentations will demonstrate the real-world applications of their ECO Synthesis™ manufacturing platform for siRNA production through ligation and sequential enzymatic synthesis. The company will showcase their work through a spotlight presentation on enzymatic synthesis of RNAi therapeutics, a TIDES talk on RNA synthesis using ligation, and a poster presentation on engineered dsRNA ligases for siRNA manufacturing.

Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, has announced the approval of equity grants to eight new employees. The grants, approved by the Compensation Committee of Codexis' Board of Directors, include:

1. Options to purchase 350,175 shares of Codexis common stock
2. 80,138 restricted stock units (RSUs) as inducement awards

Notably, these grants include equity awards for Codexis' newly appointed Chief Financial Officer, Georgia Erbez, who received:
- An option to purchase 300,000 shares of Company common stock
- 50,000 shares of RSUs

The stock options have an exercise price equal to the closing price per share of Codexis' common stock as reported by Nasdaq on the grant date. They vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly thereafter. The RSUs vest in equal annual installments over three years.

Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, has announced that it will report its financial results for the third quarter of 2024 on Thursday, October 31, 2024, after market close. The company's management will host a conference call and webcast at 4:30 pm Eastern Time to discuss the financial results and provide a business update.

Investors and interested parties can access the live webcast on the Codexis Investor Relations website, where it will be archived for 90 days. For those who prefer to join by phone, the live call can be accessed by dialing 877-705-2976 (domestic) or 201-689-8798 (international). A telephone replay of the call will be available for 48 hours by dialing 877-660-6853 (domestic) or 201-612-7415 (international), using access ID #13726635.

Codexis (NASDAQ: CDXS) has strengthened its financial position and management team to drive growth. The company raised $31 million through its at-the-market facility, extending its cash runway into 2027. This adds to the $73.2 million in cash and equivalents reported on June 30, 2024.

Key leadership appointments include Alison Moore, PhD as Chief Technology Officer, Georgia Erbez as Chief Financial Officer, and John Schiffhauer as Senior Vice President of Intellectual Property. These additions bring decades of experience in biotechnology, finance, and IP management to Codexis.

The company is preparing to launch an innovative solution for efficient siRNA therapeutics manufacturing, positioning itself for growth in this emerging field. Codexis aims to strategically invest in talent, technology, and capabilities to capitalize on new opportunities while maintaining its path to profitability.