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People & Business :: Earnings/Finance

Codexis’s loss widens in fourth quarter

10:20 AM MST | February 28, 2013 | Deepti Ramesh

Codexis (Redwood City, CA), a developer of engineered enzymes for pharmaceutical, biofuel, and chemical production, has reported a net loss of $15.5 million in the fourth quarter of 2012, compared with a net loss of $5.3 million in the year-ago quarter. Fourth-quarter sales decreased 76%, to $7.9 million, primarily because of the termination of Codexis’s collaborative research agreement with Shell as of 31 August 2012, Codexis says. Product revenue in the fourth quarter of 2012 was $6.8 million, a decrease from $15.5 million in the prior-year quarter...

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