Slide 1: Q3 2024 Results
Q3 2024 Results October 31, 2024 We engineer enzymes
Slide 2: Forward Looking Statements
Forward Looking Statements 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 actua
Slide 3: Q3: Another Strong Quarter of Execution
Q3: Another Strong Quarter of Execution • Strengthened the Balance Sheet • Raised $31M from existing investors via ATM • Strengthened the Executive Team with Two Key Hires • Georgia Erbez as Chief Financial Officer • Alison Moore as Chief Technical Officer • Strengthened the Business • Strong quarte
Slide 4: Clear Path to Profitability by End of 2026
Clear Path to Profitability by End of 2026 Pharmaceutical • Existing products and customers Manufacturing • Pipeline of higher-margin products expected to drive continued growth Double-Stranded • Expect increasing orders from existing customers RNA Ligase Path to • $90M in cash and equivalents at en
Slide 5: Recent Capital Raise Strengthens Our Trajectory
Recent Capital Raise Strengthens Our Trajectory Strengthen Existing 1 Manufacturing Facility • Accelerate adoption in Pharma Manufacturing Invest in Downstream • Support initial commercial orders of double- 2 Purification Capabilities stranded RNA ligase Design a Kilogram-Scale • Supply GMP-grade si
Slide 6: Consistent Commercial Focus
Consistent Commercial Focus 01 Deliver consistent growth in Pharmaceutical Manufacturing product revenues Secure expected orders for double-stranded RNA ligase from existing customers 02 Add new double-stranded RNA ligase customers to drive continued growth 03 Demonstrate capabilities of ECO Synthes
Slide 7: TIDES Europe: Three Upcoming Presentations
TIDES Europe: Three Upcoming Presentations Joint Poster Presentation Oral Presentation #1 Oral Presentation #2 • Demonstrate superiority • Compare data on siRNA • Demonstrate synthesis of Codexis double- manufacturing using of commercially stranded RNA ligase Codexis double- available asset using va
Slide 8: RNA Building Blocks: an Enzymatic Route
RNA Building Blocks: an Enzymatic Route Developing an Enzymatic Route to Source NQPs • NQPs = siRNA building blocks • Synthesized chemically today • Enzymatic process in development to potentially produce NQPs more sustainably and at comparable cost to chemical approach • Drug innovators want a full
Slide 9: ECO Synthesis Platform: Demonstrating a Reliable Source of siRNA
ECO Synthesis Platform: Demonstrating a Reliable Source of siRNA Kilogram-Scale ECO Synthesis Innovation Lab GMP Facility Offers Customers Path Supports GMP Provides siRNA for to GLP-Grade Material Scale Up Early-Stage Clinical Trials • Enables in-house manufacture • Allows for tech transfer to • En
Slide 10: Anticipated News Flow for ECO Synthesis Manufacturing Platform
Anticipated News Flow for ECO Synthesis Manufacturing Platform 2024 2025 Demonstrate full-length, named siRNA compounds Achieve pilot scale synthesized enzymatically production with ECO Synthesis Innovation Launch double-stranded RNA ligase Screening and Lab for GLP material Optimization Services TI
Slide 11: Strong Q3 2024 Financial Results: Exceeds Expectations
Strong Q3 2024 Financial Results: Exceeds Expectations $M, Except Per Share Amounts Q3 2023 Q3 2024 Q3 Takeaways Product Revenue $5.4 $11.2 R&D Revenue $3.9 $1.7 • Q3’24 revenue exceeds guidance Total Revenue $9.3 $12.8 • Remain on track to achieve 10%+ YOY product Cost of Product Revenue $2.2 $4.3
Slide 12: Reiterating 2024 Guidance
Reiterating 2024 Guidance Excluding Product Revenue Related to PAXLOVID $38M–$42M Product Revenue Cash, Cash Equivalents and Investments as of 9/30/24 = $90 Million $56M–$64M 58%–63% Path to Profitability by End of Total Revenue Product Gross Margin 2026 Cash Runway into 2027 $18M–$22M R&D Revenue 1
Slide 13: Nasdaq: CDXS www.codexis.com
Nasdaq: CDXS www.codexis.com