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Codex DNA, Inc. (Nasdaq: DNAY) announced it will release its third-quarter 2021 financial results on November 9, 2021, after market close. A conference call will follow at 2:00 p.m. PT to discuss the results and corporate highlights. The call can be accessed via phone or through the company's website. Codex DNA specializes in automated synthetic biology systems, including the BioXp™ platform, enhancing the speed and accuracy of DNA and RNA synthesis for various scientific applications.
Codex DNA reported a robust 76% year-over-year revenue growth in Q2 2021, reaching $2.9 million. The company successfully closed its IPO in June 2021, raising $122.7 million in gross proceeds. Operating expenses increased to $8.5 million, leading to a net loss of $9.2 million, compared to $4.1 million the previous year. Notable advancements include the introduction of mRNA kits and a collaboration with the U.S. Department of Agriculture. Cash reserves stood at $123.8 million as of June 30, 2021.
Codex DNA is collaborating with multiple research institutions, including the USDA, to combat citrus greening disease, a significant threat to the $10 billion U.S. citrus industry. This partnership has secured a nearly $15 million grant from NIFA, with Codex DNA receiving up to $3 million to enhance its synthetic biology solutions. The company aims to leverage its automated benchtop systems to advance research in agricultural biotechnology and develop treatments for this destructive disease affecting citrus plants.
Codex DNA, Inc. (Nasdaq: DNAY) will release its Q2 2021 financial results on August 10, 2021. The company will host a conference call that same day at 2:00 PM PT to discuss the results and corporate highlights. Interested parties can access the live audio webcast via the company’s website. Codex DNA specializes in automated synthetic biology systems, providing solutions for rapid and accurate DNA and RNA synthesis. Their BioXp™ system enables significant reductions in synthesis time for various applications, including precision medicine and therapeutic development.
Codex DNA has announced a licensing agreement with TriLink Biotechnologies to integrate CleanCap® technology into its BioXp™ system. This collaboration aims to enhance the productivity and yields of mRNA synthesis workflows, potentially expanding therapeutic and vaccine applications. The new small-scale mRNA synthesis kit can produce up to 16 biologically active mRNA constructs, improving efficiency in the design-build-test phases of mRNA-based candidates. The venture seeks to streamline the transition from preclinical to clinical production stages, supporting rapid advancements in mRNA therapies.
Codex DNA, Inc. (Nasdaq: DNAY) successfully closed its initial public offering of 7,666,664 shares at $16.00 per share, raising approximately $122.7 million in gross proceeds. This offering included the exercise of underwriters’ option for an additional 999,999 shares. Trading on Nasdaq began on June 18, 2021. The funds from this offering will support Codex DNA's synthetic biology initiatives, particularly its BioXp™ system which simplifies and accelerates the DNA and mRNA construction process.
Codex DNA has announced the pricing of its initial public offering (IPO) on June 17, 2021, offering 6,666,665 shares at $16.00 each, aiming for gross proceeds of approximately $106.7 million. The shares will be traded on the Nasdaq Global Select Market under the ticker symbol DNAY. The offering is expected to close on June 22, 2021, pending customary closing conditions. Additionally, underwriters have a 30-day option to purchase up to 999,999 shares at the offering price.
Codex DNA announced a public offering of 6.7 million shares of its common stock, priced between $14.00 and $16.00 each. The company may also grant underwriters a 30-day option to purchase an additional one million shares. The offering is part of Codex DNA's strategy to enhance its synthetic biology capabilities through its BioXp system. The stock will be listed on The Nasdaq Global Market under the ticker symbol “DNAY.” Jefferies LLC, Cowen and Company, and KeyBanc Capital Markets are the joint book-running managers for this offering.