Codexis Inc made an agreement with Merck: New Strategies.

Codexis Inc Signs Supply Agreement with Merck

Codexis Inc (NASDAQ:CDXS) has signed a crucial supply assurance agreement with Merck, securing a cash infusion that dilutes shares. This agreement is enhancing the company's commercial momentum. The company currently holds 11 revenue-generating contracts and is preparing an additional 40 contracts.

Codexis Inc, as a full-service manufacturer, is undergoing a transformation to strengthen its capabilities in oligonucleotide production. The company is preparing to sign a leasing agreement for a new facility and plans to transition to GMP-quality production using ecological synthesis technologies.

The company’s technical team has made significant progress in scaling the ecological platform, and this new data will be presented at the Tides Europe event.

Total revenues in the third quarter of 2025 fell to $8.6 million, down from $12.8 million in the same period of 2024. A strategic deviation from the historical small molecule biocatalysis business is occurring due to changes in market dynamics and pricing pressures.

Research and development expenses increased to $13.9 million in the third quarter of 2025, thanks to workforce increases and laboratory material costs. This figure was $11.5 million in the same period of 2024. The company reported a net loss of $19.6 million in the third quarter, slightly better than the $20.6 million loss reported in the same period of 2024.

Codexis Inc is undergoing a restructuring process by reducing its workforce in various groups to align with its new strategic focus. However, CEO Dr. Steven Dilly stated that this management transition will not affect partnership strategies. The company is focused on growth through partnerships and proving technology.

In particular, it positively mentioned progress in the scaling partnership with Nitto. Additionally, Georgia Herbes emphasized that the existing contracts are in the service area and service revenue is expected to remain stable. Dr. Alison Moore stated that initiatives aimed at becoming a leader for siRNA therapeutic developers are expected to significantly impact commercial progress.