Codexis signs 10-year supply deal with Pfizer for PAXLOVID enzyme CDX-616; receives $25.9M retainer

CODEXIS, INC.

Supply Agreement covers Codexis enzyme CDX-616 used in Pfizer's PAXLOVID (nirmatrelvir).
Pfizer pays $25.9M retainer fee by July 31, 2022; up to 90% creditable against future orders through 2023.
Revenue recognition: nominal portion in 2022, remainder in 2023-2024.
No minimum purchase commitments; Codexis must maintain sufficient inventory for estimated Pfizer orders.
Pfizer may terminate on 180 days' notice; term of 10 years with 3-year renewal options.

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