dyadic international inc (DYAI) Key Developments
Dyadic Appoints Michael Tarnok to Board of Directors
Jun 12 14
Dyadic International, Inc. announced the appointment of Michael Tarnok to the company's Board of Directors. Mr. Tarnok will also serve on the company's audit and compensation committees. Mr. Tarnok has extensive experience in the pharmaceutical industry across many key areas including finance, operations and marketing. He is the current Chairman and former Interim CEO of Keryx Biopharmaceuticals, Inc., a biotechnology company focused on the development of therapeutics for renal disease. Prior to joining Keryx in 2007, Mr. Tarnok spent the majority of his career at Pfizer Inc., joining in 1989 as Director of Finance for U.S. Manufacturing. From 2000-2007, he served as Senior Vice President in Pfizer's U.S. Pharmaceuticals Division. Prior to joining Pfizer, he worked primarily in financial disciplines for ITT Rayonier, Inc., Celanese Corporation, and Olivetti Corporation of America. Mr. Tarnok earned an MBA in marketing from New York University and a Bachelors of Science in accounting from St. John's University. He also serves on the Board of the Global Health Counsel, a Washington, D.C.-based NGO.
Dyadic International, Inc., Annual General Meeting, Jun 25, 2014
Jun 7 14
Dyadic International, Inc., Annual General Meeting, Jun 25, 2014., at 10:00 US Eastern Standard Time. Location: Doubletree Hotel, 4431 PGA Boulevard,. Agenda: To elect two Class I directors to the Board of Directors to serve until the company's 2017 Annual Meeting of Stockholders or until their successors are duly elected and qualified; to ratify the appointment of Mayer Hoffman McCann P.C., as the company's independent registered public accounting firm for the year ending December 31, 2014; and to transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.
Dyadic International, Inc. Presents at World Congress on Industrial Biotechnology, May-12-2014
May 9 14
Dyadic International, Inc. Presents at World Congress on Industrial Biotechnology, May-12-2014 . Venue: Philadelphia, Pennsylvania, United States.
Dyadic International Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014
May 8 14
Dyadic International announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. Net loss for the three months ended March 31, 2014 was $1.6 million or $0.05 per basic and fully diluted share, as compared to a net loss of $1.5 million or $0.05 per basic and fully diluted share, for three months ended March 31, 2013. Exclusive of litigation related legal fees, the net loss for the three months ended March 31, 2014 would have been $894,000 or $0.03 per basic and fully diluted share, as compared to a net loss of $1.3 million or $0.04 per basic and fully diluted share, for the three months ended March 31, 2013. Total revenue increased 20% for the three months ended March 31, 2014 to $3.0 million as compared to $2.5 million for the prior year. Loss from operations was $1.4 million against $1.3 million of prior year period. Capital expenditures for the three months ended March 31, 2014 were approximately $84,000 as compared to $88,000 for the same period last year. Net cash used in operating activities was approximately $1.8 million in the first quarter of 2014 as compared to $153,000 provided by operations in the first quarter of 2013. The majority of the cash used in operating activities in the first quarter of 2014 was related to the increase in litigation related legal expenses and increased inventory levels previously mentioned.
Dyadic International, Inc. Announces Board Appointments
May 6 14
Dyadic International, Inc. announced that they have strengthened their European leadership team with the addition of two senior level positions. Dr. Ronen Tchelet has joined the Company's European leadership team as the Vice President of Business Development. He joins Dyadic from Codexis, where he served as Vice President and Managing Director of their Research and Development laboratories in Hungary. Prior to Codexis, Dr. Tchelet served as Chief Technology Officer of Biotechnology for the API division of Teva Pharmaceuticals. In this new position, Ronen will play a key role in driving business development efforts across all markets, as well as, Dyadic's internal and third party research and development projects. The company also announced that next month Andre Klaassen will be joining Dyadic's European sales team as the new Director of Sales for Europe. Andre has spent the past two decades in enzyme sales at DuPont and Genencor in a variety of senior roles. He began his career in engineering and operational roles at Gist-Brocades, now part of DSM. As Director of Sales, Andre will manage the day-to-day European sales operations and help support new product development in Dutch research facility. In addition, Andre will provide key account management, and assume global responsibility for starch and alcohol enzyme business. Both Dr. Tchelet and Mr. Klaassen will be based out of research center in Wageningen, Netherlands.