| |
• |
|
The net loss for third quarter 2024 was $20.6 million, or $0.29 per share, compared to a net loss of
$34.9 million, or $0.50 per share, for third quarter 2023. |
| |
• |
|
As of September 30, 2024, the Company had $90.3 million in cash, cash equivalents and short-term
investments, which is expected to fund planned operations into 2027 and past the point of positive cash flow, anticipated around the end of 2026. |
2024 Financial Guidance Reiterated
Codexis reiterated
its full-year 2024 financial guidance originally issued on February 28, 2024, as follows:
| |
• |
|
Product revenues are expected to be in the range of $38 million to $42 million, excluding revenue
related to PAXLOVID™. |
| |
• |
|
R&D revenues are expected to be in the range of $18 million to $22 million. |
| |
• |
|
Gross margin on product revenue is expected to be in the range of 58% to 63%, excluding revenue related to
PAXLOVID™. |
Conference Call and Webcast
Codexis will hold a conference call and webcast today beginning at 4:30 pm ET. A live webcast and slide presentation to accompany the conference call will
be available on the Investors section of the Company website at www.codexis.com/investors. The conference call dial-in numbers are 877-705-2976 for domestic callers and 201-689-8798 for international callers.
A telephone recording of the call will be available for 48 hours beginning approximately two hours after the completion of the call by dialing 877-660-6853 for domestic callers or 201-612-7415 for international callers. Please use the
passcode 13726635 to access the recording. A webcast replay will be available on the Investors section of the Company website for at least 90 days, beginning approximately two hours after the completion of the call.
About Codexis
Codexis is a leading provider of enzymatic
solutions for efficient and scalable therapeutics manufacturing, leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes
and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule and nucleic acid therapeutics manufacturing. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy
usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit https://www.codexis.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by
terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,”
“goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “suggest,” “target,”
“on track,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. To the extent that
statements contained in this press release are not descriptions of historical facts, they are forward-looking statements reflecting the current beliefs and expectations of management,
Page | 3