CDXS - Biotech Stock Rally's Strongly On Exclusive Licensing Agreement

2024-02-27 12:43:51 ET

A California-based %Biotech company is turning heads during Tuesday’s session after the company announced it entered into an exclusive licensing agreement for newly engineered double-stranded DNA ligase with Roche, according to a press release.

Shares of %Codexis (Nasdaq: CDXS) rallied strongly on the news, with shares of the small cap climbing up to $4.43/share (+38.44%) at the early session high. Be sure to add this one to the watchlist.

Codexis Inc is involved in the business of providing enzyme optimization services, commercialization of proteins, and developing biocatalyst products. The firm's products and services include Screening and Evolution services, Enzymes, Screening Kits. It also develops protein engineering and biocatalyst platforms such as Codeevolver, Ketoreductases, Transminases, Imine reductases, etc. The company operates in two business segments namely Performance Enzymes and Novel Biotherapeutics. It generates maximum revenue from the Performance Enzymes segment.