Codexis, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 02:35 am IST
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Codexis, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 26.56 million compared to USD 30.38 million a year ago. Net loss was USD 7.19 million compared to USD 12.61 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.19 a year ago.
For the full year, revenue was USD 70.14 million compared to USD 138.59 million a year ago. Net loss was USD 76.24 million compared to USD 33.59 million a year ago. Basic loss per share from continuing operations was USD 1.12 compared to USD 0.51 a year ago.
Codexis, Inc. is an enzyme engineering company. It is leveraging its CodeEvolver technology platform to discover, develop, enhance, and commercialize novel, high performance enzymes and other classes of proteins. It utilizes its CodeEvolver technology platform to develop optimized enzymes that are used by some pharmaceutical companies to reduce their costs and improve the efficiency and productivity of their manufacturing processes for small molecule therapeutics. It is developing its Enzyme-Catalyzed Oligonucleotide Synthesis (ECO Synthesis) manufacturing platform to enable the scaled manufacture of RNA interference (RNAi) therapeutics through an enzymatic route. It also uses the CodeEvolver platform technology to develop enzymes for the synthesis of nucleic acids, such as DNA/RNA, including enzymes utilized in its ECO Synthesis manufacturing platform, where its enzymes are poised to deliver many of the same benefits it offers in pharmaceutical manufacturing.