DYADIC INTERNATIONAL INC SEC Filings

DYADIC INTERNATIONAL INC reported insider activity by the Francisco Trust under agreement dated February 28, 1996, a ten percent owner. The trust received an 8.0% senior secured convertible promissory note initially convertible into 558,659 common shares at $1.79 per share, later amended to allow conversion into a total of 952,381 shares through lower conversion prices of $1.40 and $1.05 per share. Over multiple dates from June 2024 through January 2025, the trust also completed open-market sales totaling 172,864 common shares at prices between $1.80 and $2.43 per share, and reported direct ownership of 3,375,664 common shares after the most recent sale.

DYADIC INTERNATIONAL INC Amendment No. 2 to a Schedule 13G/A states that Francisco Trust beneficially owns 4,328,045 shares of common stock, representing 11.58% of the class. The filing corrects an immaterial error in a prior 13G/A and reconfirms no transactions since the prior filing.

The filing explains the ownership total includes 3,375,664 shares held outright and 952,381 shares issuable upon conversion of a convertible promissory note dated March 8, 2024 convertible at $1.05 per share. The filing cites 36,438,703 shares outstanding as of May 12, 2026 as the base for percentage calculations.

Dyadic International reported results from its 2026 Annual Meeting of Shareholders. Shareholders elected Class I director Seth J. Herbst, M.D., with 18,121,850 votes for and 1,174,107 withheld, plus 10,313,240 broker non-votes. They approved the board’s authorization to implement a reverse stock split within the ratio range described in the proxy, with 25,419,068 votes for, 3,725,962 against, and 464,167 abstentions. Shareholders also ratified Crowe LLP as independent registered public accounting firm for the year ending December 31, 2026, by 28,623,686 votes for, 517,907 against, and 467,604 abstentions. An advisory vote on executive compensation passed with 18,213,001 votes for, 343,799 against, 739,157 abstentions, and 10,313,240 broker non-votes.

Dyadic International, Inc. reports it has received a Nasdaq notification starting a process that could lead to delisting because its share price has stayed below the $1.00 minimum required by Nasdaq Listing Rule 5450(a)(1), known as the Bid Price Rule.

As of June 17, 2026, Dyadic had not regained compliance or met the $5 million shareholders’ equity level needed for an extension. The notice also cites noncompliance with Nasdaq Listing Rule 5550(b), which requires at least $2.5 million in shareholders’ equity, $35 million in market value of listed securities, or $500,000 of net income from continuing operations.

The company plans to request a hearing before an independent Nasdaq panel, which will temporarily halt any suspension or delisting action. Under Nasdaq rules, the latest possible deadline for Dyadic to regain full compliance is December 15, 2026, but there is no assurance it will succeed or avoid delisting.

Dyadic International furnished a press release highlighting growing interest in its C1 microbial protein production platform amid preparedness efforts for the Bundibugyo Ebola virus outbreak and broader commercial use. The company believes C1 can help rapidly manufacture vaccines and antibodies, moving from gene sequence to purified antigen or monoclonal antibody in approximately 15 days.

Dyadic describes three Ebola-related tracks involving Scripps Research, CEPI-linked proposals, and a monoclonal antibody initiative with Fondazione Biotecnopolo di Siena and the European Vaccines Hub. It also outlines a multi-market strategy for its C1 and Dapibus™ platforms across biopharma, life sciences, food and nutrition, and industrial biotechnology, estimating current addressable market opportunities exceeding $25 billion.

Dyadic International announced a collaboration between Dyadic Applied BioSolutions and researchers at Scripps Research to evaluate monoclonal antibody and vaccine candidates targeting hantaviruses, including the Andes virus strain associated with Hantavirus Pulmonary Syndrome. The work will assess Dyadic’s microbial fungal-based C1 platform for rapid development, high-productivity fermentation, and large-scale biologic manufacturing aimed at future infectious disease preparedness.

The collaboration builds on Dyadic’s prior Andes virus monoclonal antibody research, its preclinical data showing C1-produced antibodies with binding and neutralization characteristics comparable to mammalian systems, and earlier GMP manufacturing and Phase 1 clinical evaluation using C1. Dyadic notes that this and other funded programs backed by organizations such as the Gates Foundation, CEPI, and European initiatives are pursued through grants, sponsored research, and strategic collaborations, allowing validation of the C1 platform while maintaining a primary commercial focus on non-pharmaceutical protein products and industrial-scale biomanufacturing opportunities.

Dyadic International reported much stronger Q1 2026 results, with total revenue of $1,110,956, up 182.3% from $393,572 a year earlier. Growth was driven by higher research and development revenue tied to the Proliant agreement, increased grant revenue from CEPI and the Gates Foundation, and $220,000 of new license and milestone revenue under the Inzymes agreement.

Total costs and expenses rose to $3,013,649, reflecting higher cost of revenue and general and administrative spending, while research and development expenses declined slightly. Loss from operations narrowed to $1,902,693, and net loss improved to $1,954,683, or $(0.05) per share, compared with $(0.07) per share last year. As of March 31, 2026, Dyadic held $6.6 million in cash, equivalents, restricted cash, and investment-grade securities but reported negative stockholders’ equity of $407,732.

Operationally, the company highlighted multiple commercial milestones, including initial purchase orders for recombinant bovine transferrin, the commercial launch of AlbuFree™ DX recombinant human albumin by Proliant, an expanded collaboration with Fermbox Bio, an OEM distribution agreement with IBT Bioservices, and a development and commercialization agreement with BRIG Bio for animal-free bovine alpha-lactalbumin. Dyadic also continued progressing biopharmaceutical programs supported by the Gates Foundation, CEPI, and Fondazione Biotecnopolo di Siena and is expanding its commercial footprint in Asia and Europe.

Dyadic International, Inc. reported first-quarter 2026 revenue of $1.11 million, up from $393,572 a year earlier, driven by research collaborations, grant funding and license milestones, including recognition of $273,000 from its Proliant serum albumin agreement and continued Gates Foundation and CEPI grant activity.

The company posted a net loss of $1.95 million for the quarter, slightly improved from a $2.03 million loss in 2025, as higher revenue was offset by increased general and administrative expenses of $1.76 million. Cash, cash equivalents, restricted cash and investment securities totaled about $6.6 million as of March 31, 2026, and management believes this will fund operations for at least 12 months.

Stockholders’ equity turned negative at $(0.41) million, and Dyadic remains dependent on external funding, including $5.09 million of 8% senior secured convertible notes and a new at‑the‑market program of up to $4.24 million. Recent milestones—such as Proliant’s commercial launch of AlbuFree DX, Inzymes milestones, and new distribution and OEM agreements—support its strategic shift toward revenue-focused, non‑animal protein applications.

Dyadic International is asking shareholders to vote at a virtual annual meeting on June 18, 2026. The proxy seeks approval to elect one Class I director, authorize a reverse stock split of common stock at a ratio between 2:1 and 10:1, ratify Crowe LLP as auditor, and approve 2025 executive pay on an advisory basis. As of April 24, 2026, the company had 36,438,703 common shares outstanding, with directors and executives beneficially owning about 20.9%. The filing also details $6.0 million of 8.0% senior secured convertible notes issued in 2024, of which $5.09 million remained outstanding as of April 24, 2026, held in part by trusts and family members related to the CEO.