Codexis, Inc. Develops Novel Enzyme Therapeutic Product Candidate for the Potential Treatment of Phenylketonuria
Dec 3 14
Codexis, Inc. announced that it has developed a novel enzyme therapeutic product candidate for the potential treatment of phenylketonuria (PKU) through oral administration. PKU is an inherited metabolic disorder in which the enzyme that converts the essential amino acid phenylalanine into tyrosine is deficient. As a result, phenylalanine accumulates in high levels in the brain causing serious neurological problems, including intellectual disability, seizures and cognitive and behavioral problems. Phenylalanine is found in many foods, including meat, dairy products, fish, poultry and many fruits and vegetables. Codexis has conducted studies in a PKU animal model that demonstrate proof of concept for Codexis' therapeutic enzyme product candidate. In these studies, Codexis' enzyme therapeutic candidate was introduced into the stomach of the animal resulting in decreased blood phenylalanine levels. Codexis has filed patent applications covering the composition of matter for its therapeutic enzymes and the use of these enzymes as a treatment for PKU. Codexis is seeking partners for its PKU program to advance its development. Codexis expects to begin preclinical studies for its enzyme therapeutic candidate in 2015.
Codexis, Inc. Presents at LD Micro Conference, Dec-04-2014 12:30 PM
Nov 25 14
Codexis, Inc. Presents at LD Micro Conference, Dec-04-2014 12:30 PM. Venue: Luxe Sunset Boulevard Hotel, 11461 Sunset Boulevard, Los Angeles, California, United States.
Codexis, Inc. Approves the Resignation of Pedro Mizutan as Board Member
Nov 7 14
At the meeting of the board of directors of Codexis, Inc. held on November 6, 2014, Pedro Mizutani resigned from the board effective November 6, 2014.
Codexis, Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014
Nov 4 14
Codexis, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues were $7,472,000 against $3,943,000 a year ago, driven in part by the higher R&D service revenue it has achieved in any quarter in the last 2 years. Loss from operations was $4,255,000 against $9,214,000 a year ago. Loss before provision for income taxes was $4,309,000 against $9,227,000 a year ago. Net loss was $4,562,000 or $0.12 basic and diluted per share against $9,262,000 or $0.24 basic and diluted per share a year ago. Non-GAAP net loss was $1,932,000 or $0.05 basic and diluted per share against $6,026,000 or $0.16 basic and diluted per share a year ago.
For the nine-month period, the company reported total revenues were $21,116,000 against $22,397,000 a year ago. Loss from operations was $19,562,000 against $31,295,000 a year ago. Loss before provision for income taxes was $19,730,000 against $31,530,000 a year ago. Net loss was $19,416,000 or $0.51 basic and diluted per share against $31,489,000 or $0.83 basic and diluted per share a year ago. Non-GAAP net loss was $8,609,000 or $0.23 basic and diluted per share against $20,290,000 or $0.53 basic and diluted per share a year ago.
Codexis is maintaining its previously stated 2014 financial guidance, which includes revenues of between $35 million and $38 million, representing growth of 10% to 19% compared to the prior year. Gross margins are expected in the range of 70% to 75% as a % of total revenues, which would reflect a significant increase from the 54% gross margin delivered in 2013. Codexis continues to expect to achieve positive cash flow from operations for fiscal year 2014.