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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Codexis (CDXS) (NASDAQ:CDXS) develops biocatalysts for manufacturing purposes in the pharmaceutical and biofuels industries. Biocatalysts are enzymes or microbes that stimulate or accelerate the chemical reaction. Many manufacturers have relied on naturally occurring biocatalysts, which has its inherent limitations, therefore Codexis provides biocatalysts to allow manufacturers to use them at anytime. The biocatatlysts can improve the manufacturing and commercialization processes for the pharmaceutical industry. In the biofuels industry, it uses biocatalysts to convert biomass into biofuels. [1]
The biocatalyst has specific advantages. Most chemical compounds for manufacturing cannot operate at room temperature, and biocatalyst uses simpler machinery. However there are limitations. Biocatalysts have not been stable enough to be used in industrial setings, therefore it is harder to scale and commercialize the product. Thus, there have been researchers attempting to use biotechnology to alter the genes in the biocatalysts, however there has not be any success to date. [1]
The company's initial public offering of stock filed on the NASDAQ exchange on 29 December 2009. The proposed offer price range is $13.00-$15.00. The company is offering 6.0 million shares and raising $84 million. [1]
For FY2009 with year ended 31 December 2009, the company reported $82.9 million in total revenue, up 64.2% from $50.5 million in total revenue for FY2008. Furthermore, the company had a net loss of $20.3 million in FY2009, an increase from a net loss of $45.1 million in FY2008. The revenues are distributed with 22% in product, 76% in related party collaborative R&D, 2% in collaborative R&D, and the rest in government grants. [1]
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