secwatch.observer — SEC 8-K summary
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Issuer:     CODEXIS, INC. (CDXS)
CIK:        0001200375
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001200375-23-000017
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Codexis Q1 revenue $13M (-63% YoY); net loss $22.6M; lowers product revenue guidance
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- Q1 total revenue $13.0M (ex-PAXLOVID -8% YoY); net loss $22.6M ($0.34/share) vs $8.4M loss in Q1 2022.
- Product revenue guidance lowered to $30-$35M from $35-$40M; gross margin guided 55-65% (down from prior).
- R&D revenue guidance raised to $28-$33M, includes $5M non-cash Pfizer license revenue in Q2 2023.
- CDX-7108 Phase 1 interim data showed improved lipid absorption; IND filing by end 2023, Phase 2 H1 2024.
- Cash $102.8M at March 31, 2023; estimated runway through end of 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1200375/000120037523000017/0001200375-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1200375/000120037523000017/cdxs-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001200375-23-000017

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