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Codexis , Inc. (NASDAQ:CDXS), a leading enzyme engineering company, has seen its stock price touch a 52-week low, reaching $2.55. According to InvestingPro data, the stock’s RSI indicates oversold conditions, with shares now trading 59% below their 52-week high of $6.08. This latest price point underscores a challenging period for the company, which has experienced a significant downturn over the past year. The stock’s performance reflects a broader trend in the biotech sector, which has faced headwinds from regulatory pressures and a shift in investor sentiment. Despite the innovative nature of Codexis’s technology and its applications in pharmaceuticals and bio-manufacturing, the company’s shares have not been immune to market fluctuations. Over the past year, Codexis’s stock has declined by 35%, with particularly steep losses of 42.7% year-to-date. InvestingPro analysis reveals 12 additional key insights about Codexis’s financial health and market position, available in the comprehensive Pro Research Report.
In other recent news, Codexis Inc. reported its fourth-quarter 2024 earnings, which showed a larger-than-expected loss per share and lower-than-anticipated revenue. The company posted an EPS of -$0.13, missing the forecast of -$0.04, and recorded revenue of $21.5 million, falling short of the expected $28.2 million. For the full year, Codexis reported revenue of $59.3 million, down from $62 million in 2023, and a net loss of $65.3 million, an improvement from the $84.4 million loss in 2023. Despite these challenges, Codexis continues to focus on expanding its enzymatic synthesis technology and aims for revenue growth in 2025, projecting $64-68 million. The company anticipates significant revenue increases in the second half of the year and aims for cash flow positivity by the end of 2026. Codexis is also planning to secure a CDMO scale-up partner and exploring the construction of a kilogram-scale GMP facility to enhance its production capabilities. Additionally, Codexis’s COO, Kevin Norrett, emphasized the transition of its Ecosynthesis technology from development to commercial execution in 2025.
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