If you haven't read the transcript from the recent Dyadic 3rd QTR Earnings conference call you should. The CEO of Dyadic said in reference to Codexis CodeXyme ,"I think it is the best platform out there today in the marketplace." Additionally went on to say they are still hopeful they will find a partner for the technology "bigger and better than people expect."
Would have to disagree. CodeXyme and CodeXol are still available to any parties interested in putting forth the money to move forward with it, they are just making a smart business decision to become profitable with the existing pharma partners they have. To boot the american heart association is pushing to increase the use of statin drugs, estimating to double the number of people currently taking them...who won an EPA award last year for developing an efficient biocatalytic process to mass produce Simvastatin...Codexis of course and working heavily with Merck to manufacture. Don't get me wrong, I think it is unfortunate the CodeXyme and CodeXol were financially "turned off" for the immediate future.....you can't forget, Raizen is the largest shareholder of CDXS.....they could turn this back on at a moments notice if they chose. Just my thoughts. These guys are still a player and could be worth a lot in the next year/beyond.
While not what most were hoping to hear, the siding of CodeXyme and CodeXol efforts will at least ensure the company becomes profitable in 2014. Hell, they still beat the estimates of -$0.31 at -$0.24. Maybe Raizen will get the wake-up call and pour a little fundage their way to get the cellulostic training rolling again. Still lots of potential here IMO.
This litigation seems to be dragging on longer than one would have originally anticipated. Any thoughts on Codexis attempting to possibly purchase an 'exclusive right' to the C-1 technology or even outright 'buy' Dyadic? Codexis has around $50 mil cash in hand, Dyadic around $10; interestingly both have similar quarterly cash burn rates.
An article posted on Seeking Alpha this past week, "DSM sticks to profit goal, lifted by nutrition business". Doesn't speak to specifically who DSM is working with on this effort, however, DSM and Codexis have an existing 'enzyme supply agreement'. Another possibility.....
Was reviewing the CDXS 2Q 2013 transcript, specifically the part that the CEO made the following comment: "In the second quarter, we entered into a joint development agreement with a large market-leading food ingredients company. Because of the confidentiality, we are precluded from providing the name of the company or specific details."
I'm wondering if this 'unnamed company' Codexis is doing business with has possibly something to do with the recent Dyadic Licensing fiasco....that being said, I found an article on Seeking Alpha that , " DuPont is changing its identity as a chemical conglomerate to a food and agriculture company." and has been in the transition of doing so over the course of the past few years.
Would make sense as to why Dyadic, under considerable pressure from BASF, would want them to revoke their C-1 license. Just a thought.
Does anyone have any comments or concerns regarding the recent BASF purchase of VRNM at $4/shr? For those who don't know, VRNM is a similarly sized company whom also specialized in bio-catalysts and also held license agreements with Dyadic. I would hate to see a similar thing happen to Codexis!
The more research I do, the more it apparent it becomes that Dyadic needs Codexis probably more than the other way around. From a recent article posted by the Street Authority, Dyadic only has $7 million of cash on hand while Codexis has $38 million. I am willing to bet this will be resolved shortly and will rebound both of these companies in a BIG way.
Obama proposes carbon limits on new US power plants. From an article posted on the BBC this morning.
According to the plan outlined by Ms McCarthy, new gas-fired power plants would be limited to 1,000 pounds of carbon dioxide emissions per megawatt hour. New coal-powered plans would be limited to 1,100 pounds.
Currently, the average coal plant emits about 1,800 pounds of carbon dioxide per hour.
The proposal would eventually impact existing power plants, which account for around a third of all US greenhouse gas emissions.
From Royal DSM's website dated jan 2011: "DSM Pharmaceutical Products, the custom manufacturing organization of Royal DSM NV, and Codexis, Inc. (Nasdaq:CDXS) today announce signing of an enzyme supply agreement.'
Possible that it could all be related.
Go to the Codexis Website, under Investors they have all SEC filings listed to include the 2x CT ORDERS that posted this week.
Doing a little reserch on Verenium recently sold a portion of its enzyme business to Royal DSM. this may/or may not be related to the recent Codexis announcement made during last quarters fincial results " joint development agreement with a market-leading food ingredients company and delivering the first commercial shipment to a separate company of an enzyme used for producing a food additive"...name fo the actual company involved was not included in the report.
Curious as to the content of the recent CT ORDERS, any speculation? One references Verenium Corp. a major competitor of Codexis.