Codexis Inc

Codexis, Inc. announced an agreement with a pioneering siRNA drug innovator to explore stereo-defined fragment synthesis using its ECO Synthesis Manufacturing Platform. Under the agreement, Codexis will use the platform to produce stereo-defined oligonucleotide fragments through a fully enzymatic process, which the innovator will assemble into the final duplex via ligation. The collaboration will also compare enzymatically synthesized fragments with conventional solid-phase oligonucleotide synthesis, evaluating purity, product quality, and ligation performance, with results allowing the innovator to assess the technology's potential for future clinical development programs. The agreement builds on advances presented at TIDES USA 2026, where Codexis for the first time demonstrated full-length siRNA synthesis with precise control of phosphorothioate stereochemistry via StereoSelect, a capability of ECO Synthesis. Alison Moore, President and CEO at Codexis, said the agreement is an important next step in bringing the company's latest ECO Synthesis capabilities to a customer.

Codexis reiterated its 2026 revenue guidance of $72 million to $76 million and announced plans for an approximately $25 million GMP manufacturing facility build-out. CEO Alison Moore said the company delivered second-quarter 2026 revenue of $14.9 million and highlighted a financing that raised $25 million in net proceeds, extending the cash runway through 2028. CFO Georgia Erbez noted product gross margin reached 73% in the quarter and raised full-year gross margin expectations to the high 60s. The GMP facility, which will support IND filings and clinical trial supply, is proceeding according to plan with a building permit application to be submitted imminently and manufacturing equipment already ordered. Management also reported progress on ECO Synthesis, including small-scale technology transfers at three CDMOs and negotiations for a long-term commercial contract with the most advanced partner.