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JUPITER, Fla. - Dyadic International, Inc. (NASDAQ:DYAI), a $34 million market cap biotechnology company focused on protein production platforms, announced Wednesday it has commenced an underwritten public offering of common stock shares. According to InvestingPro data, the company has shown strong revenue growth of 57.59% over the last twelve months, though it remains unprofitable.
The company, which specializes in developing gene expression platforms for producing proteins used in life sciences, food, nutrition, and industrial biotechnology, has appointed Craig-Hallum Capital Group LLC as the sole managing underwriter for the offering.
According to the press release statement, Dyadic intends to use the net proceeds from the offering for working capital and general corporate purposes, including product development, sales, and marketing initiatives.
The offering is subject to market conditions, with no guarantees regarding completion timing, size, or terms. The securities will be offered pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.
Dyadic’s technology platforms include its proprietary C1 and Dapibus expression systems, which the company states are designed to enable more efficient, scalable, and sustainable protein production for its customers and partners.
The biotechnology firm’s announcement comes as it seeks to strengthen its financial position while continuing development of its microbial platforms that produce recombinant proteins for various markets.
The company noted that a preliminary prospectus supplement and accompanying prospectus describing the offering will be filed with the SEC.
In other recent news, Dyadic International reported its first-quarter 2025 financial results, showing a net loss of $0.07 per share, aligning with analysts’ expectations. The company’s revenue was slightly below projections, reaching $393,570 compared to the expected $394,000. Dyadic International also announced a strategic rebranding, planning to operate under the name Dyadic Applied BioSolutions in 30 days, as part of its focus on commercial growth in non-therapeutic protein markets. Additionally, the company received a notice from Nasdaq regarding a minimum bid price deficiency, with a deadline to regain compliance by January 13, 2026. In a move to support its commercial ambitions, Dyadic appointed Joe Hazelton as the new President, who will also continue as Chief Operating Officer. The company’s shareholders recently approved board proposals, including the election of Mark A. Emalfarb as a Class III director. These developments reflect Dyadic’s strategic shift towards commercializing its technology and expanding its market presence.
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