Shares of Codexis, Inc. (NASDAQ: CDXS) experienced a sharp rise, climbing 22.16% to $3.12 per share following the announcement of a significant revenue-generating contract. This surge reflects growing investor confidence in the company’s innovative enzymatic synthesis technology and its expanding role in the biopharmaceutical industry.
First Revenue-Generating Contract for ECO Synthesis
The first revenue-generating contract for the synthesis of small interfering RNA (siRNA) material has been formally obtained by Codexis, a major supplier of enzymatic solutions for scalable therapeutics manufacturing. This agreement will be carried out at CDXS’ recently opened ECO Synthesis Innovation Lab, enhancing the proprietary ECO Synthesis platform’s industrial suitability.
Codexis’ double-stranded RNA (dsRNA) ligation technology has been successful in the past, and this contract builds on that accomplishment. The business has made significant progress in commercializing its platform by effectively creating a suite of enzymes that can power the ECO Synthesis process on an industrial scale. At future scientific conferences, CDXS will submit data showing how their enzymatic method may equal or even exceed the efficiency of conventional chemical synthesis.
Scaling Up: Partnerships and Industrial Viability
Codexis has recently validated the technical feasibility of its ECO Synthesis approach through collaborations with multiple industry partners. Codexis was the first to demonstrate four different pathways for producing an authorized siRNA treatment when it presented groundbreaking results at the TIDES Europe annual meeting in November 2024.
Potential partners have shown a great deal of interest in these innovative developments, which has resulted in many successful feasibility studies. Among them, Codexis completed studies with Bachem, a leading manufacturer of siRNA therapeutics, and another major innovator in the field.
Future Growth and Industry Impact
With the completion of its ECO Synthesis Innovation Lab, the company is now well-positioned to convert ongoing collaborations into formal revenue-generating contracts. The lab facilitates the delivery of GLP-grade siRNA material to its partners and offers analytical and process development services.
Codexis has effectively proven the end-to-end enzymatic synthesis of inclisiran by utilizing its exclusive Enzyme Catalyzed Oligonucleotide (ECO) Synthesis platform. CDXS wants to change the siRNA therapeutics manufacturing environment as it expands its creative enzymatic solutions.