Dyadic International director to retire in June

JUPITER, FL – Dyadic International Inc. (NASDAQ:DYAI), a $37 million market cap company specializing in biological products with 20% revenue growth in the last twelve months, announced on Monday that board member Arindam Bose will retire from his position effective June 20, 2025. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 4.01. Bose, who has not cited any disagreements with the company’s operations, policies, or practices, will continue to serve until the annual meeting on the specified date.

The departure, disclosed in a recent SEC filing, marks a change in the composition of Dyadic’s board of directors. The company, headquartered in Jupiter, Florida, operates under the industrial classification of biological products, excluding diagnostic substances.

Dyadic International, incorporated in Delaware and known formerly as CCP Worldwide Inc., has not indicated any immediate plans for a successor or how Bose’s retirement will affect the board’s dynamics.

This development comes as the company prepares for its annual meeting, where shareholders and board members gather to discuss the year’s performance and future strategies. The filing did not elaborate on any further changes to the board or executive team.

Investors and stakeholders are advised to monitor Dyadic’s announcements for updates regarding the transition and any potential impact on the company’s governance. The information provided is based on a press release statement.

In other recent news, Dyadic International Inc. announced its fourth-quarter 2024 earnings, showcasing a strong revenue performance but a shortfall in earnings per share (EPS). The company reported revenue of $3.5 million, significantly exceeding the forecast of $1.1 million, although the EPS registered a loss of $0.20, missing the anticipated loss of $0.07. Dyadic’s revenue growth was bolstered by a $3 million grant from the Gates Foundation, enhancing its cash position to $9.3 million. Despite the revenue increase, the company reported a net loss of $5.8 million, indicating ongoing profitability challenges. The company is also planning to launch its first commercial products in 2025, focusing on recombinant albumin and DNase I. Additionally, Dyadic is expanding its strategic partnerships in high-growth markets like alternative proteins and industrial biomaterials. Analysts have noted the company’s strategic initiatives and partnerships as positive steps toward future growth, despite the current financial challenges.

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