Codexis, Inc. Announces Revenue Forecast for Second Quarter and Reiterating Full Year 2023
July 20, 2023 at 04:05 pm EDT
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Codexis, Inc. announced revenue forecast for second quarter and reiterating full year 2023. For the quarter the company announced that Total revenues are expected to be in the range of $21 million to $22 million, which includes product revenues in the range of $11 million to $12 million and R&D revenues of approximately $10 million.
The company is reiterating its 2023 product revenue as outlined in the Company?s first quarter earnings release issued on May 4, 2023. Specifically, product revenues are expected to be in the range of $30 million to $35 million.
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.
CODEXIS, INC. 
