IHS Chemical Week

People & Business :: Earnings/Finance

Codexis net loss widens

7:46 AM MDT | May 8, 2013 | Deepti Ramesh

Codexis (Redwood City, CA), a company that engineers enzymes for pharmaceutical, biofuel, and chemical production, has reported a net loss of $9.62 million in the first quarter of 2013, compared with a net loss of $7.49 million in the year-ago quarter. First-quarter sales decreased 63%, to $11.48 million, primarily because of the termination of Codexis’s collaborative research agreement with Shell in August 2012 and the resulting loss of associated collaborative R&D revenue, Codexis says. Codexis says that, as a result of the termination of the...

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