Business
Codexis Reports First Quarter 2025 Financial Results
Secured first revenue-generating contract for ECO Synthesis™ manufacturing services Company reiterates full-year financial guidance Six presentations to
About this update from Codexis, Inc.
[{"type":"text","content":"Secured first revenue-generating contract for ECO Synthesis™ manufacturing services Company reiterates full-year financial guidance Six presentations to feature the ECO Synthesis platform at upcoming TIDES USA annual meeting, including three from leading CDMO collaborators REDWOOD CITY, Calif., May 14, 2025 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced financial results for the first quarter ended March 31, 2025, and provided a business update. “Codexis finished the first quarter with $60 million in cash, which remains on track to fund the company through cash flow positivity by the end of 2026,” said Stephen Dilly, MBBS, PhD, Chairman and Chief Executive Officer at Codexis. “Importantly, the Q1 revenue guidance we outlined in February included a $2.5 million one-time payment from a Pharma Biocatalysis customer due in March which was received in April. Since this has no impact on our overall 2025 revenue projections, we are confident in reiterating our 2025 guidance and the current range of published analyst estimates. “On the commercial front, we have already executed on several key milestones this year, including our first revenue-generating contract for our ECO Synthesis manufacturing services. Our ligase business is also gaining traction, reflected by the delivery of our first order to a large pharma customer, a new order from a second important drug innovator, and three key CDMO collaborators planning to highlight the performance of our ligases in their facilities at the upcoming TIDES USA meeting. Between those positive developments, several recent advancements in the siRNA therapeutic landscape, and the macro trends toward building out U.S.-based manufacturing infrastructures, we believe the broader environment is becoming increasingly favorable for our unique toolbox of enzymatic solutions.” First Quarter and Recent Business Highlights In March 2025, Codexis announced its first revenue-generating contract to manufacture siRNA material in its ECO Synthesis Innovation Lab. The Company also announced that it successfully completed development of the first generation of its core ECO Synthesis enzymes, having met the pre-specified criteria to support scaling to industrial capacity.Since the first of the year, C...