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Opaleye Management Inc., a significant shareholder of Codexis , Inc. (NASDAQ:CDXS), recently made a notable acquisition of shares in the company. According to a Form 4 filing with the SEC, Opaleye purchased a total of 115,000 shares of Codexis common stock over a series of transactions from April 1 to April 3, 2025. The shares were acquired at prices ranging from $2.3032 to $2.4792, with the total transaction amounting to $271,788. The timing appears strategic, as InvestingPro data shows the stock trading near its 52-week low of $2.22, with analyst price targets ranging from $4 to $11.
The purchases were made across three separate transactions: 35,000 shares on April 1, 5,000 shares on April 2, and 75,000 shares on April 3. Following these transactions, Opaleye Management’s total holdings in Codexis increased to 9,365,000 shares. The shares were acquired indirectly through Opaleye, L.P., with Opaleye Management Inc. acting as the investment manager.
This acquisition highlights Opaleye Management’s continued interest in Codexis, a company specializing in industrial organic chemicals.
In other recent news, Codexis, Inc. reported its fourth-quarter 2024 financial results, revealing a larger-than-expected loss and lower-than-anticipated revenue. The company posted an EPS of -$0.13, missing the forecast of -$0.04, with revenue at $21.5 million, falling short of the expected $28.2 million. Despite these challenges, Codexis remains focused on expanding its enzymatic synthesis technology, anticipating revenue growth in 2025. In a bid to strengthen its board, Codexis appointed Cynthia Collins as a new independent director, bringing her extensive experience in the healthcare sector to the company. Additionally, the company approved equity grants for two new employees under its 2024 Inducement Plan, aimed at attracting fresh talent. These inducement awards include options to purchase shares and restricted stock units that vest over several years. Analysts are closely monitoring Codexis’s strategic initiatives, such as its efforts to secure a CDMO scale-up partner and develop a kilogram-scale GMP facility to enhance production capabilities. The company continues to emphasize its strategic shift towards more value-added drug supply and partnership services, aiming for cash flow positivity by the end of 2026.
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