secwatch.observer — SEC 8-K summary
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Issuer:     CODEXIS, INC. (CDXS)
CIK:        0001200375
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001193125-23-303503
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02
LLM model:  deepseek-v4-flash:cloud@v2

Codexis assigns CDX-7108 to Nestlé for $5M upfront plus milestones; closing expected Jan 5
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- Upfront payment of $5M, potential $15M development milestones, $25M commercial milestones, and royalty on net sales above baseline.
- Nestlé gets option to buy amylase/protease assets for $2.5M, plus $2.5M milestone payment.
- Codexis restricted from developing lipase PERT products for at least three years.
- Collaboration and Development Agreements terminated; closing expected Jan 5, 2024.
- Company also receives scaled percentage of proceeds from future sale or licensing of CDX-7108 by Nestlé.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1200375/000119312523303503/0001193125-23-303503-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1200375/000119312523303503/d940896d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-303503

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer