Codexis Announces Agreement for Assignment and Assumption of San Carlos Facility Lease
2023年9月8日 - 5:05AM
Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company,
today announced the Company has executed an Assignment and
Assumption of Lease for its San Carlos, California location. As a
result of consolidating operations to its headquarters facility in
Redwood City, California, Codexis estimates it will realize
cumulative cash savings of more than $30 million through 2031. The
execution of the Assignment Agreement is consistent with the
Company’s ongoing strategy to focus resources on programs with the
strongest commercial opportunity and greatest probability of
near-term success, including the Company’s enzyme-catalyzed
oligonucleotide (ECO) Synthesis™ technology platform, designed to
enable scalable production of RNA interference (RNAi) therapeutics.
“The swift execution of this lease assignment demonstrates our
ability to efficiently streamline the business and concentrate on
the priorities we outlined in July as part of our enhanced
strategic focus,” said Kevin Norrett, MBA, Chief Operating Officer
of Codexis. “Having the entire Company in one location will enable
the close collaboration of our teams while also reducing overhead
and positioning us to meet our projected cash runway to
mid-2026.”
Additional information regarding the Assignment Agreement can be
found in the Company’s most recent Form 8-K filed with the U.S.
Securities and Exchange Commission on September 7, 2023.
About Codexis
Codexis is a leading enzyme engineering company leveraging its
proprietary CodeEvolver® technology platform to discover,
develop and enhance novel, high-performance enzymes and other
classes of proteins. Codexis enzymes solve for real-world
challenges associated with small molecule pharmaceuticals
manufacturing and nucleic acid synthesis, and the Company is
currently developing its proprietary ECO Synthesis™ platform to
enable the scaled manufacture of RNAi therapeutics through an
enzymatic route. Codexis’ unique enzymes can drive improvements
such as higher yields, reduced energy usage and waste generation,
improved efficiency in manufacturing and greater sensitivity in
genomic and diagnostic applications. For more information,
visit www.codexis.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended and the Private Securities Litigation Reform Act of 1995.
In some cases, you can identify forward-looking statements by
terminology such as “aim,” “anticipate,” “assume,” “believe,”
“contemplate,” “continue,” “could,” “design,” “due,” “estimate,”
“expect,” “goal,” “intend,” “may,” “objective,” “plan,”
“positioned,” “potential,” “predict,” “seek,” “should,” “suggest,”
“target,” “on track,” “will,” “would” and other similar expressions
that are predictions of or indicate future events and future
trends, or the negative of these terms or other comparable
terminology. To the extent that statements contained in this press
release are not descriptions of historical facts, they are
forward-looking statements reflecting the current beliefs and
expectations of management, including, but not limited to, our
expectations regarding our cash runway through mid-2026 and
cumulative cash savings resulting from consolidating operations to
our headquarters facility. You should not place undue reliance on
these forward-looking statements because they involve known and
unknown risks, uncertainties and other factors that are, in some
cases, beyond Codexis’ control and that could materially affect
actual results. Factors that could materially affect actual results
include, among others: Codexis’ dependence on its licensees and
collaborators; if any of its collaborators terminate their
development programs under their respective license agreements with
Codexis; Codexis may need additional capital in the future in order
to expand its business; Codexis’ dependence on a limited number of
products and customers, and potential adverse effects to Codexis’
business if its customers’ products are not received well in the
markets; if Codexis is unable to develop and commercialize new
products for its target markets; if competitors and potential
competitors who have greater resources and experience than Codexis
develop products and technologies that make Codexis’ products and
technologies obsolete; and market and economic conditions may
negatively impact Codexis business, financial condition and share
price. Additional information about factors that could materially
affect actual results can be found in Codexis’ Annual Report on
Form 10-K for the year ended December 31, 2022 filed with the
Securities and Exchange Commission (“SEC”) on February 27, 2023 and
in Codexis’ Quarterly Report on Form 10-Q for the quarter ended
June 30, 2023 filed with the SEC on August 3, 2023, including under
the caption “Risk Factors,” and in Codexis’ other periodic reports
filed with the SEC. The forward-looking statements contained in
this press release are based on information currently available to
Codexis and speak only as of the date on which they are made.
Codexis expressly disclaims any intent or obligation to update
these forward-looking statements, except as required by law.
For More Information
Investor ContactCarrie McKim(336) 608-9706ir@codexis.com
Media ContactLauren Musto(781) 572-1147media@codexis.com
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