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In other recent news, Codexis (NASDAQ:CDXS), Inc. has reported encouraging Q2 2024 results, with revenues reaching $8 million. The company has forecasted double-digit product revenue growth for 2024, powered by its pharmaceutical manufacturing business and the development of its ECO Synthesis platform for siRNA therapeutics. Piper Sandler, reiterating its Overweight rating for Codexis, has maintained a steady price target of $10.00 based on these recent developments.
Codexis' strategic focus on the production of RNAi therapeutics through its proprietary ECO Synthesis platform has been highlighted as beneficial by Piper Sandler. The company's recent success in commercializing its dsRNA ligase program has also contributed to its strong performance. Codexis aims to achieve positive cash flow by the end of 2026, leveraging its pharmaceutical manufacturing pipeline and ligase orders.
In further developments, Codexis has plans to become a Contract Development and Manufacturing Organization (CDMO) and aims to produce GLP-grade siRNA in 2025. These recent developments underscore the company's commitment to growth and innovation, as reflected in the maintained Overweight rating and price target by Piper Sandler.
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