附录 99.1
Codexis公布2024年第三季度财务业绩
季度亮点包括管理团队的关键成员加入以及通过自动柜员机融资3100万美元将Cash Runway延长至2027年
公司重申全年财务指导;与 FY2023(不包括酶)相比,有望实现至少 10% 的产品收入增长 与 PAXLOVID 相关的销售™
加利福尼亚州雷德伍德城,十月 31, 2024 — Codexis, Inc.(纳斯达克股票代码:CDXS)是高效和可扩展疗法制造酶解决方案的领先提供商,今天公布了截至2024年9月30日的第三季度财务业绩,并提供了一项业务 更新。
“Codexis第三季度表现强劲,我们超额完成了产品收入目标,欢迎两位经验丰富的新高管加入我们 管理团队,并通过我们现有的自动柜员机筹集了3,100万澳元的收入,将我们的现金流延至2027年,超过了盈利水平。由 超出许可 我们的基因组学酶产品组合为 Alphazyme,我们还增强了专注于关键战略优先事项的能力:药品制造业务的增长和我们的生态合成™ 制造 平台,” Codexis董事长兼首席执行官MBBS博士斯蒂芬·迪利说。“我们有能力在即将举行的TIDES欧洲大会上发布三份数据,以高调结束本财年,我们在会上发布了三份数据 将展示我们的 ECO Synthesis 的实际应用™ 平台并突出具体的商业利益。我们还预计将宣布与一家主要企业的首次技术合作 到今年年底成为制药合作伙伴。再加上我们的 ECO Synthesis 的入境查询量不断增加™ 技术,我们即将成为第一家公司 从寡核苷酸疗法的酶促合成中获得重要价值。”
第三季度及近期业务亮点
• | 2024年10月,Codexis宣布通过总额筹集资金来增加其现金储备 通过公司现有资金筹集3,100万美元 在市场上 (自动取款机)设施。扩大的储备金使公司能够在2027年之前自筹资金,为实现这一目标提供了明确的途径 预计将在2026年底左右实现正现金流。现有股东的持续关注证实了公司加速的技术进步,并将使Codexis能够投资于合适的人才和技术 以及继续执行其战略的能力。 |
• | 2024 年 10 月,Codexis 宣布任命 Georgia Erbez 为首席财务官。Erbez 女士是 一位经验丰富的财务高管,最近在Walking Fish Therapeutics担任首席运营官。在此之前,她曾担任Harpoon Therapeutics的首席财务官。Erbez 女士还担任过首长 Zosano Pharma Corp. 的业务官兼首席财务官,曾担任革命药业、Asterias Biotherapeutics和Raptor Pharmicals的首席财务官。 |
• | Codexis宣布任命艾莉森·摩尔博士担任新设立的首席技术官一职 2024 年 10 月。摩尔博士曾任Allogene Therapeutics的首席技术官,在公司董事会任职四年后加入Codexis管理团队。在加入 Allogene 之前,她总共工作了 20 年 在安进,最近担任工艺开发高级副总裁,并在供应链和制造部门任职。摩尔博士还曾在基因泰克担任化学、制造和控制以及监管方面的董事 事务。 |
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• | 2024年10月,Codexis宣布该公司将其基因组学生命科学酶组合许可给Alphazyme, 有限责任公司,Maravai LifeSciences的一部分。该协议包括HiFi DNA聚合酶、HiTemp逆转录酶、HiREV等温聚合酶和其他正在开发的用于基因组学和诊断的酶的许可 公司于 2023 年 7 月宣布战略转变之前的申请。根据协议条款,Codexis有资格获得基于销售的特许权使用费。 |
• | 2024年9月,Codexis参加了美国RNA领导人大会的演讲和小组讨论。 该公司的演讲侧重于其酶催化寡核苷酸(ECO)合成的用途™ 制造平台利用酶来推动可扩展和 经济高效地生产短抑制性核糖核酸 (siRNA) 双联体。 |
• | 2024年8月,Codexis宣布发布其首份可持续发展披露声明,详细说明了 公司截至2023年12月31日的财年的环境、社会和治理(ESG)业绩。要了解有关Codexis可持续发展计划的更多信息或获取公司首份可持续发展报告的副本 会计准则委员会 (SASB) 索引,请访问 公司网站上的可持续发展页面. |
• | Codexis于2024年7月宣布,该公司已与Crosswalk Therapeutics敲定了收购协议 用于两项基因疗法资产。根据该协议的团队,Crosswalk收购了该公司在研的Fabry和Pompe病化合物,Codexis有资格获得未来的开发和商业里程碑付款 此外还有基于净销售额的特许权使用费。 |
2024 年第四季度即将到来的里程碑
• | Codexis预计将宣布与ECO合成公司的首次技术合作™ 到2024年底将建成制造平台。 |
• | 该公司预计将完成 扩建 其生态合成™ 2024 年底左右的创新实验室。 |
2024 年第三季度财务 亮点
• | 2024年第三季度的总收入为1,280万美元,而第三季度为930万美元 2023。受客户订单时机的推动,2024年第三季度的产品收入为1,120万美元,而2023年第三季度为540万美元。2024年第三季度的研发收入为170万美元,相比之下 2023年第三季度为390万美元;下降的主要原因是下跌 非经常性的 项目,包括公司先前终止的生物治疗项目。 |
• | 2024年第三季度的产品毛利率为61%,而2023年第三季度为58%。总额的增加 利润率主要是由于产品组合的可变性。 |
• | 2024年第三季度的研发费用为1150万美元,而第三季度为1,370万美元 2023 年;下降的主要原因是与化学、制造和控制相关的外部服务的使用量减少、监管费用减少以及公司San的分配导致的租赁和设施成本下降 卡洛斯在2023年第四季度租赁设施。 |
• | 2024年第三季度的销售、一般和管理费用为1,360万美元 2023年第三季度为1,230万美元;增长主要是由于咨询和外部服务的增加。 |
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• | 2024年第三季度净亏损为2060万美元,每股0.29美元,相比2023年第三季度净亏损3490万美元,每股0.50美元。 |
• | 截至2024年9月30日,公司现金、现金等价物和短期投资总额为9030万美元,预计可资助计划到2027年及正现金流点之后,预计在2026年底左右到达。 |
2024年财务业务展望重申
Codexis 重申了全年2024年财务指引,最初于2024年2月28日发布,具体如下:
• | 产品营收预计在3800万美元至4200万美元的范围内,不包括与 PAXLOVID 相关的营收。™. |
• | 研发收入预计在1800万美元至2200万美元的区间。 |
• | 产品营收毛利率预计在58%至63%的区间内,不包括与 PAXLOVID 相关的收入。™. |
电话会议和网络直播
codexis将于今天下午4:30开始举行电话会议和网络直播。 与电话会议配套的现场网页直播和幻灯片演示将在公司网站的投资者部分提供。www.codexis.com/investors电话会议 拨号 的号码是 877-705-2976 适用于国内呼叫者,电话号码为 201-689-8798 国际呼叫者。
拨打电话录音将在48小时内提供,大约在通话结束后两小时开始,拨打国内或 877-660-6853 拨打电话录音将在48小时内提供,大约在通话结束后两小时开始,拨打国内或 201-612-7415 国际打电话者。请使用 密码13726635访问录音。网络直播重播将在公司网站的投资者部分提供至少90天,大约在通话结束后两小时开始。
关于Codexis
Codexis是提供高效可扩展的治疗制造酶解决方案的领先供应商,利用其专有的CodeEvolver技术平台发现、开发和增强新颖的高性能酶和其他类蛋白质。Codexis酶解决了与小分子和核酸治疗制造相关的现实挑战。公司目前正在开发其专有的ECO合成® 技术解决方案。™ 制造业-半导体平台可通过酶途径实现RNAi治疗药物的规模化生产。Codexis的独特酶能够推动诸如更高收益、降低能源使用和废物生成、提高生产效率以及在基因组和诊断应用中提高敏感性等方面的改进。欲了解更多信息,请访问https://www.codexis.com.
前瞻性声明
本新闻稿包含根据1933年修订版《证券法》第27A条和1934年修订版《证券交易法》第21E条的前瞻性声明。在某些情况下,您可以通过类似“旨在”、“预期”、“假设”、“相信”、“思考”、“继续”、“可能”、“设计”、“到期”、“估计”、“期望”、“目标”、“打算”、“可能”、“客观”、“计划”、“定位”、“潜力”、“预测”、“寻求”、“应该”、“建议”、“目标”、“在途中”、“将”、“将会”等术语识别前瞻性声明,这些术语是对未来事件和未来趋势的预测,或者指示未来事件和未来趋势的表达,或者这些术语的否定形式或其他类似术语。在本新闻稿中包含的陈述并非对历史事实的描述时,它们是反映管理层当前信仰和期望的前瞻性声明
投资者和媒体
including but not limited to statements regarding anticipated milestones, including product launches, technical milestones, data releases and public announcements related thereto; whether Codexis will be able to, and the timing of it entering its first technical collaboration with its ECO Synthesis™ manufacturing platform in 2024; whether Codexis will be able to, and the timing of it substantially completing, the build-out of its planned ECO Synthesis™ Innovation Lab around the end of 2024; Codexis’ expectations regarding 2024 product revenues, R&D revenues and gross margin on product revenue, as well as its ability to fund planned operations into 2027; Codexis’ ability to achieve positive cash flow around the end of 2026; potential receipt by Codexis of certain milestone and royalty payments pursuant to its recent transactions with Alphazyme and Crosswalk Therapeutics; the potential to grow the pharmaceutical manufacturing business; and the potential of the ECO Synthesis™ manufacturing platform, including its ability to be broadly utilized and to enable commercial-scale manufacture of RNAi therapeutics through an enzymatic route. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Codexis’ control and that could materially affect actual results. Factors that could materially affect actual results include, among others: Codexis’ dependence on its licensees and collaborators; if any of its collaborators terminate their development programs under their respective license agreements with Codexis; Codexis may need additional capital in the future in order to expand its business; if Codexis is unable to successfully develop new technology such as its ECO Synthesis™ manufacturing platform and dsRNA ligase; Codexis’ dependence on a limited number of products and customers, and potential adverse effects to Codexis’ business if its customers’ products are not received well in the markets; if Codexis is unable to develop and commercialize new products for its target markets; if competitors and potential competitors who have greater resources and experience than Codexis develop products and technologies that make Codexis’ products and technologies obsolete; Codexis’ ability to comply with debt covenants under its loan facility; if Codexis is unable to accurately forecast financial and operational performance; and market and economic conditions may negatively impact Codexis business, financial condition and share price. Additional information about factors that could materially affect actual results can be found in Codexis’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 28, 2024 and in Codexis’ Quarterly Report on Form 10-Q filed with the SEC on or about the date hereof, including under the caption “Risk Factors,” and in Codexis’ other periodic reports filed with the SEC. Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law. Codexis’ results for the quarter ended September 30, 2024, are not necessarily indicative of our operating results for any future periods.
For More Information
Investor Contact
Carrie McKim
(336) 608-9706
ir@codexis.com
Media Contact
Lauren Musto
(650) 421-8205
media@codexis.com
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Codexis, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In Thousands, Except Per Share Amounts)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Revenues: |
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Product revenue |
$ | 11,158 | $ | 5,395 | $ | 26,968 | $ | 24,807 | ||||||||
Research and development revenue |
1,675 | 3,882 | 10,917 | 18,775 | ||||||||||||
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Total revenues |
12,833 | 9,277 | 37,885 | 43,582 | ||||||||||||
Costs and operating expenses: |
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Cost of product revenue |
4,317 | 2,249 | 12,634 | 9,947 | ||||||||||||
Research and development |
11,505 | 13,662 | 34,164 | 47,651 | ||||||||||||
Selling, general and administrative |
13,568 | 12,302 | 42,100 | 41,066 | ||||||||||||
Restructuring charges |
— | 3,140 | — | 3,284 | ||||||||||||
Asset impairment and other charges |
— | 9,984 | 165 | 9,984 | ||||||||||||
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Total costs and operating expenses |
29,390 | 41,337 | 89,063 | 111,932 | ||||||||||||
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Loss from operations |
(16,557 | ) | (32,060 | ) | (51,178 | ) | (68,350 | ) | ||||||||
Interest income |
849 | 1,056 | 2,730 | 3,266 | ||||||||||||
Interest and other expenses, net |
(4,922 | ) | (3,895 | ) | (6,421 | ) | (3,930 | ) | ||||||||
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Loss before income taxes |
(20,630 | ) | (34,899 | ) | (54,869 | ) | (69,014 | ) | ||||||||
Provision for income taxes |
10 | 9 | 31 | 34 | ||||||||||||
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Net loss |
$ | (20,640 | ) | $ | (34,908 | ) | $ | (54,900 | ) | $ | (69,048 | ) | ||||
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Net loss per share, basic and diluted |
$ | (0.29 | ) | $ | (0.50 | ) | $ | (0.78 | ) | $ | (1.02 | ) | ||||
Weighted average common stock shares used in computing net loss per share, basic and diluted |
72,032 | 69,466 | 70,759 | 67,670 |
Codexis, Inc.
Condensed Consolidated Statements of Comprehensive Loss
(Unaudited)
(In Thousands)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Net loss |
$ | (20,640 | ) | $ | (34,908 | ) | $ | (54,900 | ) | $ | (69,048 | ) | ||||
Other comprehensive gain: |
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Unrealized gain on available-for-sale short-term investments, net of tax |
149 | — | 126 | — | ||||||||||||
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Comprehensive Loss |
$ | (20,491 | ) | $ | (34,908 | ) | $ | (54,774 | ) | $ | (69,048 | ) | ||||
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Codexis, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(In Thousands)
September 30, 2024 | December 31, 2023 | |||||||
Assets |
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Current assets: |
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Cash and cash equivalents |
$ | 37,452 | $ | 65,116 | ||||
Restricted cash, current |
514 | 519 | ||||||
Short-term investments |
52,803 | — | ||||||
Financing assets: |
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Accounts receivable |
9,721 | 10,036 | ||||||
Contract assets |
3,424 | 815 | ||||||
Unbilled receivables |
3,460 | 9,142 | ||||||
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Total financing assets |
16,605 | 19,993 | ||||||
Less: allowances |
(65 | ) | (65 | ) | ||||
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Total financing assets, net |
16,540 | 19,928 | ||||||
Inventories |
2,103 | 2,685 | ||||||
Prepaid expenses and other current assets |
3,490 | 5,218 | ||||||
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Total current assets |
112,902 | 93,466 | ||||||
Restricted cash |
1,062 | 1,062 | ||||||
Investments in non-marketable equity securities |
5,790 | 9,700 | ||||||
Right-of use assets - Operating leases, net |
10,772 | 13,137 | ||||||
Property and equipment, net |
13,266 | 15,487 | ||||||
Goodwill |
2,463 | 2,463 | ||||||
Other non-current assets |
1,928 | 1,246 | ||||||
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Total assets |
$ | 148,183 | $ | 136,561 | ||||
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Liabilities and Stockholders’ Equity |
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Current liabilities: |
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Accounts payable |
$ | 4,212 | $ | 5,947 | ||||
Accrued compensation |
10,320 | 11,246 | ||||||
Other accrued liabilities |
6,505 | 4,735 | ||||||
Current portion of lease obligations - Operating leases |
4,081 | 3,781 | ||||||
Deferred revenue |
10,011 | 10,121 | ||||||
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Total current liabilities |
35,129 | 35,830 | ||||||
Deferred revenue, net of current portion |
610 | 640 | ||||||
Long-term lease obligations - Operating leases |
9,134 | 12,243 | ||||||
Long-term debt |
28,631 | — | ||||||
Other long-term liabilities |
1,279 | 1,233 | ||||||
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Total liabilities |
74,783 | 49,946 | ||||||
Stockholders’ equity: |
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Common stock |
8 | 7 | ||||||
Additional paid-in capital |
625,696 | 584,138 | ||||||
Accumulated other comprehensive income |
126 | — | ||||||
Accumulated deficit |
(552,430 | ) | (497,530 | ) | ||||
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Total stockholders’ equity |
73,400 | 86,615 | ||||||
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Total liabilities and stockholders’ equity |
$ | 148,183 | $ | 136,561 | ||||
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