CDXS - Codexis streamlining operations reducing headcount
2023-07-20 18:32:06 ET
- Codexis ( NASDAQ: CDXS ) said that as part of its strategic focus, it will streamline operations, including laying off ~25% of its staff.
- The enzyme engineering company said it will prioritize the advancement and marketing of its Enzyme-Catalyzed Oligonucleotide ("ECO") Synthesis platform and pharmaceutical manufacturing business.
- Codexis ( CDXS ) had $92.1M in cash and equivalents as of June 30, 2023. With the streamlining, the company anticipates it will have enough money to fund operations through mid 2026 .
- Seeking Alpha's Quant Rating views Codexis ( CDXS ) as a strong sell.
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Codexis streamlining operations, reducing headcount