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REDWOOD CITY, Calif. - Codexis , Inc. (NASDAQ: NASDAQ:CDXS), a prominent player in enzymatic solutions for pharmaceutical manufacturing whose stock has surged over 50% in the past year, announced today the addition of Arthur Levin, PhD, to its Strategic Advisory Board (SAB). According to InvestingPro data, the company maintains a strong financial position with liquid assets exceeding short-term obligations by a factor of 3.2x. Levin, a recognized figure in the RNA therapeutics space, brings over thirty years of experience to the table, having been instrumental in the development of the first approved antisense drugs and the first clinical trial for a microRNA-targeted therapeutic.
Dr. Levin’s current tenure includes serving on the Board of Directors at Avidity Biosciences, a company known for its innovative RNA-based treatments. His extensive background in oligonucleotide development is expected to be a significant asset to Codexis as the company seeks to expand its customer base for its Enzyme Catalyzed Oligonucleotide (ECO) Synthesis™ manufacturing platform.
Codexis’s SVP of Research, Stefan Lutz, PhD, expressed enthusiasm about Dr. Levin’s appointment, citing his vast experience and potential to provide valuable guidance during the company’s growth phase. While InvestingPro analysis shows the company faces profitability challenges with negative EBITDA of $45.8 million in the last twelve months, its strong cash position provides runway for strategic initiatives. InvestingPro subscribers can access 8 additional key insights about Codexis’s financial health and growth prospects. Dr. Levin reciprocated the sentiment, noting his excitement to contribute to Codexis’s advancements in RNAi therapeutics through its enzymatic technologies.
The Codexis SAB, established in 2023, plays a crucial role in steering the company’s strategic direction and enhancing the development of the ECO Synthesis™ platform. Current SAB members boast a wealth of expertise across oligonucleotide synthesis and commercialization, including John Maraganore, PhD, founder and former CEO of Alnylam Pharmaceuticals (NASDAQ:ALNY).
Codexis is known for leveraging its proprietary CodeEvolver® technology platform to create high-performance enzymes, addressing challenges in small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The company is also developing its proprietary ECO Synthesis™ platform to enable scaled manufacture of RNAi therapeutics.
This expansion of the SAB underscores Codexis’s commitment to advancing its capabilities in the rapidly evolving field of RNA therapeutics. Based on InvestingPro’s Fair Value analysis, the stock appears slightly undervalued despite its recent 35.7% gain over the past six months. The company has not disclosed any financial details related to Dr. Levin’s appointment. For comprehensive analysis including detailed financial metrics and expert insights, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers. The news is based on a press release statement from Codexis, Inc.
In other recent news, Codexis, Inc. has been actively expanding its board with new appointments. Christos Richards, a seasoned executive with significant healthcare and life sciences experience, joined the Codexis Board of Directors. Richards’ appointment is part of Codexis’ ongoing efforts to strengthen its board with independent voices and industry expertise. In another development, Codexis announced the appointment of Dr. Raymond (NSE:RYMD) De Vré to the board. Dr. De Vré is recognized for his extensive experience in the biopharmaceutical sector, particularly in oligonucleotide manufacturing, a field relevant to Codexis’ operations. These appointments are expected to provide valuable insights and guidance to the company. Codexis also reported amendments to its bylaws, aligning with recent Delaware law developments. These recent developments indicate Codexis’ strategic positioning for growth within its sector.
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