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REDWOOD CITY, CA – Codexis , Inc. (NASDAQ:CDXS), a leading developer in industrial organic chemicals currently trading at $2.81 per share, announced today the appointment of Cynthia Collins to its Board of Directors as a Class II director, with immediate effect. Collins, who brings extensive experience in the healthcare sector, will also join the Compensation Committee of the Board. According to InvestingPro data, the company faces significant challenges with its financial health score currently rated as weak, making this board appointment particularly crucial for strategic oversight.
Collins, 66, currently serves as Executive Chair and Interim Chief Executive Officer of Nutcracker Therapeutics, Inc. since February 2025. Her previous roles include CEO positions at Editas Medicine (NASDAQ:EDIT), Inc., Human Longevity Inc., and GenVec, Inc., showcasing her leadership in gene therapy and healthcare innovation. She also holds board memberships at several healthcare organizations, demonstrating her broad industry influence. This appointment comes as Codexis faces challenging market conditions, with its stock down 41% year-to-date and currently trading near its 52-week low of $2.43.
The Board has affirmed Collins’ independence according to Nasdaq Listing Rule 5605 and looks forward to her contributions. Her initial term will extend until the 2027 annual meeting of stockholders, subject to earlier departure.
As per Codexis’ compensation policy for non-employee directors, Collins will receive an annual cash retainer of $50,000 for her board service and an additional $20,000 for her role on the Compensation Committee. She was also granted restricted stock units valued at $200,000, based on the closing trading price of Codexis’ common stock on March 28, 2025, which will vest over three years. Collins is slated to receive further stock awards at each subsequent annual stockholder meeting.
Codexis confirmed there are no existing transactions or relationships between Collins and the company that would require disclosure under SEC regulations. The company also plans to enter into a standard indemnification agreement with Collins.
This appointment is part of Codexis’ ongoing commitment to strong corporate governance and strategic leadership, particularly important given the company’s current financial metrics showing negative EBITDA of -$53.41M in the last twelve months. For deeper insights into Codexis’s financial health and growth prospects, including 10 additional ProTips and comprehensive analysis, visit InvestingPro. The information provided is based on a press release statement from Codexis, Inc. and InvestingPro data.
In other recent news, Codexis Inc. reported its fourth-quarter 2024 earnings, revealing a larger-than-expected loss and lower-than-anticipated revenue. The company posted an earnings per share (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. Despite these setbacks, Codexis is focusing on expanding its enzymatic synthesis technology for siRNA production. Additionally, Codexis has granted equity to two newly hired employees under its 2024 Inducement Plan, which includes options to purchase 10,000 shares of common stock and 5,000 restricted stock units each. These equity grants are part of Codexis’ efforts to attract new talent. The company also emphasized its strategic initiatives, including the development of its Ecosynthesis technology platform, which it plans to transition from development to commercial execution in 2025. Codexis has provided revenue guidance of $64-68 million for 2025, anticipating significant growth in the second half of the year. Furthermore, the company is exploring the construction of a kilogram-scale GMP facility to enhance its production capabilities.
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