Codexis Inc
NASDAQ:CDXS
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Codexis Inc
Codexis, Inc. is an enzyme engineering company, which engages in the development and sale of therapeutics. The company is headquartered in Redwood City, California and currently employs 261 full-time employees. The company went IPO on 2010-04-22. The firm is engaged in discovering, developing and sells enzymes and other proteins. The company operates through two segments: Performance Enzymes and Novel Biotherapeutics. The Company’s CodeEvolver technology platform accelerates biologic discovery through the transformation of a starting enzyme into a biocatalyst or therapeutic candidate. The firm has commercialized its CodeEvolver protein engineering technology platform and products in the pharmaceutical’s markets. Its products include biocatalysts, chemical intermediates and Codex biocatalyst panels and kits. The company also commercialized three additional enzymes, such as Codex HiFi DNA Polymerase for use in next generation sequencing, Codex HiTemp Reverse Transcriptase for use in molecular diagnostic applications, and Codex HiCap RNA Polymerase for use in RNA synthesis applications. The firm is developing its lead program, CDX-6114 for the treatment of hyperphenylalaninemia (HPA).
Codexis, Inc. is an enzyme engineering company, which engages in the development and sale of therapeutics. The company is headquartered in Redwood City, California and currently employs 261 full-time employees. The company went IPO on 2010-04-22. The firm is engaged in discovering, developing and sells enzymes and other proteins. The company operates through two segments: Performance Enzymes and Novel Biotherapeutics. The Company’s CodeEvolver technology platform accelerates biologic discovery through the transformation of a starting enzyme into a biocatalyst or therapeutic candidate. The firm has commercialized its CodeEvolver protein engineering technology platform and products in the pharmaceutical’s markets. Its products include biocatalysts, chemical intermediates and Codex biocatalyst panels and kits. The company also commercialized three additional enzymes, such as Codex HiFi DNA Polymerase for use in next generation sequencing, Codex HiTemp Reverse Transcriptase for use in molecular diagnostic applications, and Codex HiCap RNA Polymerase for use in RNA synthesis applications. The firm is developing its lead program, CDX-6114 for the treatment of hyperphenylalaninemia (HPA).
Leadership Changes: Alison Moore, previously Chief Technical Officer, will succeed Stephen Dilly as CEO, with Dilly moving to Executive Chair. The commercial lead role has also transitioned to Britton Jimenez.
Merck Agreement: Codexis signed a supply assurance agreement with Merck, providing a significant nondilutive cash infusion and supporting revenue confidence for 2025.
Revenue Performance: Q3 2025 revenue was $8.6 million, down from $12.8 million in Q3 2024, mainly due to changes in customer manufacturing schedules and trial progression.
Cost Base Reduction: The company is restructuring and reducing headcount, aiming to lower burn by about 25% and extend its cash runway through 2027.
Strategic Shift: Codexis is focusing on the ECO Synthesis platform for oligonucleotide manufacturing and scaling back efforts in its legacy small molecule biocatalysis business.
Outlook: Management expects to meet or slightly exceed the top end of 2025 revenue guidance and will offer 2026 guidance after the new year.
