REDWOOD CITY, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the publication of its inaugural sustainability disclosures detailing the Company's environmental, social, and governance ("ESG") performance for the fiscal year ended December 31, 2023. The disclosures are aligned with guidance provided by the International Financial Reporting Standards' ("IFRS") Sustainability Accounting Standards Board ("SASB"). This marks an importa ...

Financial Data and Key Metrics - Q2 2024 total revenues were $8 million, including $6.3 million in product revenues and $1.7 million in R&D revenues, down compared to Q2 2023 [23] - Product gross margin was 45% in Q2 2024, down from Q2 2023 due to product mix [23] - R&D expenses decreased by 34% year-over-year to $11.4 million in Q2 2024, reflecting cost-saving measures [24] - SG&A expenses were $15.7 million in Q2 2024, including a one-time $2 million stock-based compensation charge [24] - The company ended Q2 with $73.2 million in cash, cash equivalents, and investments, sufficient to fund operations through positive cash flow expected by the end of 2026 [28] Business Line Performance - The pharma manufacturing business is expected to drive strong product revenue growth in the second half of 2024, supported by existing and expected orders [6][26] - The ECO Synthesis platform has accelerated commercial momentum, with the company now engaging with major players in the siRNA manufacturing space [7] - The double-stranded RNA ligase program is gaining traction, with a large pharma customer testing the technology for a Phase 2 asset moving into Phase 3 [13] Market and Strategic Focus - The company is focused on growing its pharmaceutical manufacturing business and enabling siRNA therapeutics through the ECO Synthesis platform [4] - The ECO Synthesis platform has demonstrated the ability to synthesize full-length oligonucleotides and achieve coupling efficiency of over 98%, comparable to traditional chemical methods [8][10] - The company is targeting a stepwise approach to becoming a direct producer of GMP-grade siRNA, with plans to produce GLP-grade material in 2025 [7][18] Management Commentary on Outlook - Management reiterated full-year 2024 guidance, expecting double-digit product revenue growth and a strong second half of the year [4][22] - The company is confident in its path to positive cash flow by the end of 2026, driven by growth in the pharma manufacturing pipeline and double-stranded RNA ligase orders [28][29] - The ECO Innovation Lab and potential GMP facility are seen as key drivers of future growth and value creation [19][21] Q&A Session Summary Question: How can the ECO Synthesis platform be leveraged for drugs in clinical testing? - The platform is applicable to drugs in development or on the market, with companies showing interest in the margin improvements it offers [31][32] - The double-stranded RNA ligase provides immediate cost savings for products in clinical trials, while the full ECO Synthesis platform can be applied for sequential synthesis and ligation [33] Question: What technical milestones remain for the ECO Synthesis platform? - Key priorities include reducing cycle time for iterative additions and developing an enzymatic route for critical reagents [36] - The company is ahead of schedule, with progress in delivering constructs for proof-of-concept comparisons with traditional chemical methods [37] Question: What is the demand for the ligase optimization service? - Customers are increasingly opting for in-house optimization services, which are faster and more efficient [38] - The service has expanded the pipeline of potential candidates, with confidence in securing additional ligase orders and attracting new customers [39] Question: What is the rationale for hiring Britton Jimenez as SVP of Commercial Operations? - Britton brings 20+ years of CDMO experience, addressing a skills gap as the company enters its next growth phase [41] Question: How is the funding environment impacting customer behavior? - The funding environment has improved, with no significant pushback on innovation budgets, and customers are eager to fund projects in the siRNA space [45][46]

| --- | --- | --- | |---------------------------------|-------|----------------------| | | | | | | | | | | | | | August 8, 2024 Q2 2024 Results | | | | | | We engineer enzymes | Forward Looking Statements 1 These slides contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results or levels of activity, ...

Codexis (CDXS) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -23.08%. A quarter ago, it was expected that this producer of custom industrial enzymes would post a loss of $0.17 per share when it actually produced a loss of $0.16, delivering a surprise of 5.88%. Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34705 ___________________________ Codexis, Inc. (Exact name of registrant as specified in its charter) _________________________ ...

Exhibit 99.1 Codexis Reports Second Quarter 2024 Financial Results Company Reiterates Full-year Financial Guidance; On Track to Achieve Product Revenue Growth of at Least 10% vs. FY2023 Excluding Enzyme Sales Related to PAXLOVID™ Anticipate Entering First Technical Collaboration for ECO Synthesis™ Manufacturing Platform by End of Year REDWOOD CITY, Calif., August 8, 2024 -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced financial results for the second quarter ended June ...

REDWOOD CITY, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced that it will report its financial results for the second quarter of 2024 on Thursday, August 8, 2024, following the close of market. Codexis management will host a conference call and webcast at 4:30 pm Eastern Time to discuss the Company's financial results and provide a business update. Participants may access the live webcast on the Codexis Investor Relations website ...

About Codexis REDWOOD CITY, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced that it will report its financial results for the second quarter of 2024 on Thursday, August 8, 2024, following the close of market. Codexis management will host a conference call and webcast at 4:30 pm Eastern Time to discuss the Company's financial results and provide a business update. Codexis is a leading enzyme engineering company leveraging its propr ...

REDWOOD CITY, Calif., May 22, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the Company will attend the Jefferies Global Healthcare Conference, being held June 5-6, 2024, in New York, New York. Management will participate in a fireside chat on Wednesday, June 5, 2024, at 11:30 am ET. A live webcast of the event will be available here and in the Investor Relations section of the Company's website, http://ir.codexis.com. A replay will be archived ...

For More Information The panel will take place on Wednesday, May 22, 2024, at 4:25 pm ET. A live webcast of the event will be available here and in the Investor Relations section of the Company's website, https://www.codexis.com/investors. A replay will be archived for 90 days following the event. About Codexis Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of prote ...