Codexis Q2 loss widens to $11.5M; pivots to ECO Synthesis RNAi platform, cuts headcount 25%

CODEXIS, INC.

2023-Q2 EPS reported -$0.51 revenue$34,305,000

Net loss of $11.5M ($0.17/share) vs $2.6M loss in Q2 2022; total rev $21.3M (ex-PAXLOVID up 46% YoY).
Prioritizing ECO Synthesis RNAi therapeutics platform; aims for gram-scale synthesis by end-2023.
Discontinued Biotherapeutics programs; reduced headcount ~25%; consolidated to HQ.
Cash $92.1M as of June 30; projected runway extended to mid-2026.
FY 2023 guidance reiterated: product rev $30-35M (ex-PAXLOVID), R&D rev $21-24M, gross margin 55-65%.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CODEXIS, INC. updated its second quarter ended June 30, 2023 guidance (reaffirmed).

Period: second quarter ended June 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced financial results for the second quarter ended June 30, 2023, and provided a business update.

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Source: SEC EDGAR

accession 0001200375-23-000027

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