Codexis announced a 50‑gram siRNA manufacturing agreement for the preclinical development of a cardiovascular therapeutic candidate, using its proprietary ECO Synthesis platform. The deal marks the first time the company has produced a substantial quantity of siRNA on a commercial‑scale facility, demonstrating the platform’s ability to move beyond early research volumes.
The agreement is a key milestone in Codexis’s strategic pivot toward oligonucleotide manufacturing. “We are excited about this relationship as it represents an important entry point into what could become a high‑volume opportunity,” said President and CEO Alison Moore. The deal illustrates the company’s path to growth as it expands partnerships and positions the platform for potential commercial‑scale applications.
Codexis’s Q3 2025 results showed a net loss of $19.6 million on $8.6 million in revenue, and the company has been cutting costs—including eliminating 46 positions—to extend its cash runway through 2027. A $37.8 million supply‑assurance agreement with Merck and the new manufacturing agreement provide additional revenue streams and reinforce the company’s financial footing amid ongoing restructuring.
“This facility marks a fundamental pivot in Codexis’s transformation into a development partner of choice for enzymatic manufacturing of oligonucleotides,” Moore added. Former CEO Stephen Dilly noted that “Our ECO Synthesis and ligase businesses have evolved to the point where we are confident of their market potential.”
Shares of Codexis traded near their 52‑week low of $0.99, and analysts have revised earnings upward for the upcoming period. No immediate market reaction data beyond these adjustments were reported.
The 50‑gram agreement positions Codexis for future scale‑up and commercial manufacturing, reinforcing its strategic pivot and laying the groundwork for potential high‑volume opportunities in the growing RNA therapeutics market.
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