---
schema_version: "secwatch.filing_event.v1"
accession: "0001200375-23-000022"
form_type: "8-K"
ticker: "CDXS"
cik: "0001200375"
company_name: "CODEXIS, INC."
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:26:02.875878+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Codexis reduces headcount 25%, extends cash runway to mid-2026; Q2 preliminary revenue $21-22M

## Summary
- Workforce reduction of ~25% (approx. $2.9M expense in Q3 2023); expects completion by Sep 30, 2023.
- Discontinuing investment in Biotherapeutics programs, consolidating to Redwood City HQ.
- Preliminary Q2 2023 total revenue $21-22M (product $11-12M, R&D $10M); cash $92.1M.
- Reiterates 2023 product revenue guidance $30-35M; lowers R&D revenue guidance to $21-24M (from $28-33M).
- Expects cash runway to mid-2026; anticipates Pharma Manufacturing growth in 2024; ECO Synthesis demo by end of 2023.

## SEC filing metadata
- accession: 0001200375-23-000022
- form_type: 8-K
- ticker: CDXS
- cik: 0001200375
- company_name: CODEXIS, INC.
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.05, 2.06, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000022/0001200375-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000022/cdxs-20230720.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001200375-23-000022
- JSON: https://secwatch.observer/filing/0001200375-23-000022.json
- Plain text: https://secwatch.observer/filing/0001200375-23-000022.txt

## Key facts
- Earnings Releases
  CODEXIS, INC. updated its the quarter ended June 30, 2023 guidance (reaffirmed).
  - Period: the quarter ended June 30, 2023
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: On July 20, 2023 Codexis, Inc. (the “Company”) announced certain of its preliminary unaudited financial results for the quarter ended June 30, 2023, reiterated and provided new financial guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000022/0001200375-23-000022-index.htm
- Restructurings & Charges
  CODEXIS, INC. announced a restructuring with charges of approximately $2.9 million (approximately 25%).
  - Type: restructuring
  - Charge: approximately $2.9 million
  - Headcount: approximately 25%
  source text: On July 20, 2023, in alignment with its enhanced strategic focus, the Company publicly announced and informed its employees that it was implementing a workforce reduction of approximately 25%. This measure was implemented in support of the Company’s organizational streamlining to focus on the continued advancement and commercialization of its Enzyme-Catalyzed Oligonucleotide (ECO) SynthesisTM platform and its highly complementary Pharmaceutical Manufacturing business. The Company expects the payment of post-employment benefits to impacted employees, as well as the payment of other expenses such as related tax costs, will result in the Company recording an expense of approximately $2.9 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000022/0001200375-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.