Nov. 14 at 4:50 AM
$CDXS 2022 was Codexis’s highest-revenue year: about
$138.6 million; all-time high stock price was
$41.78, 11/8/21. 2024 total expenses
$118M. High end 2025 revenue projection
$68M, may exceed to
$70M?
Based off past presentations and SEC filings:
ECO Synthesis / platform evaluation / early-access agreements
• Typical range:
• Evaluation / early access:
$0.1M –
$2M (engineering/testing fees, evaluation payments)
•Commercial platform license / commercialization:
$10M –
$100M+ (upfront + multi-phase milestones + royalties), depending on breadth of license and customer scale.
•Phase-based development milestone buckets (when deals are structured by clinical phase)
• Phase 1: small technical milestone(s):
$0.5M –
$5M
• Phase 2: moderate milestone(s):
$2M –
$15M
• Phase 3: larger milestone(s):
$10M –
$50M
• Commercialization / launch milestones + royalties:
$10M –
$100M+ plus royalties (highly variable)
• Ligase
$5-10M/each/Big Pharma