Codexis Inc Stock Price, News & Analysis

On April 4, 2023, Codexis announced that Patrick Yang, PhD, will not seek re-election to its Board of Directors after serving since 2014. Yang, who chaired the Nominating and Corporate Governance Committee, was recognized for his significant contributions to the company. The Board expressed gratitude for his leadership during his tenure. Codexis noted that Yang's departure comes after strengthening the Board with new members experienced in biomanufacturing and gene therapy. Dr. Yang expressed confidence in Codexis's future under its current leadership, highlighting the company's transformation in Life Sciences and Biotherapeutics.

Codexis (NASDAQ: CDXS), an enzyme engineering company, announced the approval of equity grants for two new hires as sanctioned by its Compensation Committee. The awards include stock options for 43,403 shares and restricted stock units (RSUs) for 9,723 shares, as part of the 2022 Employee Inducement Incentive Award Plan. Stock options will have an exercise price based on the closing price on the grant date and vest over four years. RSUs will vest annually over three years. This move aims to attract and retain talent in the competitive biotech sector.

Codexis, a leader in enzyme engineering, will participate in the Cowen 43rd Annual Health Care Conference from March 6-8, 2023, in Boston, Massachusetts. Stephen Dilly, CEO, will join a panel discussion on 'SynBio & AI Driven Drug Discovery' on March 6 at 4:40 pm ET. The management team will also engage in a fireside chat on March 7 at 11:10 am ET. Interested investors can access webcasts of both events on the company's Investor Relations webpage, with the panel archived for 30 days and the chat for 90 days. Codexis utilizes its CodeEvolver® platform to develop innovative enzymes and biotherapeutics for various applications, enhancing manufacturing and therapeutic efficacy.

Codexis, Inc. (NASDAQ: CDXS) announced its 2022 financial results, highlighting total revenues of $138.6 million, a 32% increase from $104.8 million in 2021. Excluding enzyme sales related to PAXLOVID™, revenues decreased by 10% to $63.2 million. The company reported a net loss of $33.6 million for 2022, or $0.51 per share. For 2023, Codexis projects total revenues between $63 million and $68 million, excluding PAXLOVID™ sales. Notably, the company has a cash runway through the end of 2024 and is preparing for three Investigational New Drug applications, marking significant upcoming milestones in its biotherapeutics pipeline.

Codexis (NASDAQ: CDXS) and Nestlé Health Science announced interim findings from a Phase 1 study of CDX-7108, an engineered lipase variant aimed at improving lipid absorption for patients with exocrine pancreatic insufficiency (EPI).

Results showed improved lipid absorption with CDX-7108 compared to placebo, with no observed safety issues among the 48 subjects in the trial. The companies plan to file an Investigational New Drug application for a Phase 2 study by the end of 2023, aiming for initiation in early 2024 and topline data by 2025.

Codexis (NASDAQ: CDXS) announced key presentations at the WORLD Symposium, focusing on its gene therapy programs for Fabry disease and GM1 Gangliosidosis. Partnering with Takeda, Codexis showcased preclinical data on a novel α-galactosidase A protein variant aimed at overcoming limitations of existing treatments for Fabry disease. Takeda's presentation highlighted a recombinant adeno-associated virus-based gene therapy candidate utilizing Codexis’ engineered enzyme. Additionally, two abstracts on GM1 Gangliosidosis featured Codexis' enzyme engineering capabilities. The data emphasize potential advancements in treatment efficacy for rare genetic disorders.

Codexis announced the grant of an inducement award to newly appointed Chief Financial Officer, Sri Ryali, effective February 10, 2023. The grant includes a nonstatutory option for 372,637 shares and restricted stock units (RSUs) for 111,791 shares. The stock option has an exercise price of $5.86 and vests over four years. Additionally, three new employees received equity awards totaling options for 78,952 shares and RSUs for 33,956 shares, following the same vesting and pricing terms. These equity awards comply with Nasdaq Listing Rule 5635(c)(4).

Codexis, a prominent enzyme engineering company, announced it will report its financial results for Q4 and fiscal year 2022 on February 23, 2023, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss the results and provide a business update.

Participants can access the live webcast on Codexis' Investor Relations website, where it will be archived for 90 days. The call can be accessed by dialing the provided numbers with the conference ID #13735352 for live participation and access ID #13726635 for replays.

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.