Codexis’s cash flows turn positive ahead of schedule

August 11, 2014 |

In California, Codexis will be delivering a positive cash flow in 2014 according to recently released financial results for its second quarter. Revenues for the quarter ended June 30, 2014 were $6.6 million, a 6% decrease from $7.0 million of revenues recorded in the second quarter of 2013.

According to President and CEO John Nicols, “After delivering results in line with our expectations in the second quarter of 2014, and based on our recently announced Technology Collaboration and Licensing Agreement with GSK, we are revising all of our financial guidance metrics for fiscal year 2014. We look forward to executing on the new agreement with GSK, continuing to deliver growth from our biocatalyst opportunity pipeline, as well as working to bring in additional CodeEvolver® protein engineering license deals with other innovative blue chip customers in the future.”

 

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