REDWOOD CITY, Calif., July  23, 2026  (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ:CDXS), a leading provider of enzymatic solutions for efficient and scalable manufacturing of complex oligonucleotide therapeutics, today

CDXS

Codexis Announces Pricing of Public Offering of Common Stock

Codexis prices public offering to raise about $23 million

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>REDWOOD CITY, Calif., July  23, 2026  (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ:CDXS), a leading provider of enzymatic solutions for efficient and scalable manufacturing of complex oligonucleotide therapeutics, today</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Codexis announced an underwritten public offering of 16,666,667 shares at $1.50, with a 30-day greenshoe for up to 2.5 million more. Net proceeds are expected to be about $23.1 million to fund working capital and R&amp;D. The deal signals near-term dilution but provides capital to advance ECO Synthesis and CodeEvolver initiatives.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Codexis prices 16.67M shares at $1.50. Net proceeds ~$23.1M; closing July 27, 2026.</li><li>Upsize option adds 2.5M shares; greenshoe available for 30 days.</li><li>Proceeds to fund working capital and R&amp;D; no near-term profitability guidance changes noted.</li><li>Underwriters: Piper Sandler and Cantor Fitzgerald; Craig-Hallum co-manager; SEC prospectus filings.</li><li>Forward-looking statements cover market risks and completion uncertainties; risks include market conditions.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Codexis, Inc. (CDXS)</strong>: Public offering priced; dilutive potential; proceeds targeted for working capital and R&amp;D.</li><li><strong>Piper Sandler &amp; Co. (N/A)</strong>: Underwriter; joint bookrunner for the offering.</li><li><strong>Cantor Fitzgerald &amp; Co. (N/A)</strong>: Underwriter; co-manager for the offering.</li><li><strong>Craig-Hallum Capital Group (N/A)</strong>: Co-manager; securities financing and distribution support.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The article describes a capital-raising event, a common driver of stock movement due to dilution and capital deployment plans; CDXS-specific implications center on liquidity, burn rate reduction, and progress toward manufacturing/enzyme platforms.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Dilution from 16.67M new shares may weigh on CDXS near-term.</li><li>Greenshoe option up to 2.5M shares introduces uncertainty.</li><li>Proceeds earmarked for working capital and R&amp;D may unlock longer-term value.</li><li>No impact unless proceeds accelerate ECO Synthesis or CodeEvolver milestones.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Offering: 16,666,667 shares at $1.50.</li><li>Net proceeds: approximately $23.1 million.</li><li>Closing: on or about July 27, 2026.</li><li>Greenshoe: up to 2,500,000 shares.</li><li>Managers: Piper Sandler and Cantor Fitzgerald; Craig-Hallum co-manager.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term CDXS dilution pressure likely weighs on shares; long-term upside hinges on deployment of proceeds and milestone progress.</p>
  </section>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>REDWOOD CITY, Calif., July  23, 2026  (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CDXS">CDXS</a>), a leading provider of enzymatic solutions for efficient and scalable manufacturing of complex oligonucleotide therapeutics, today announced the pricing of an underwritten public offering of 16,666,667 shares of its common stock at a public offering price of $1.50 per share. Net proceeds to Codexis from the offering are expected to be approximately $23.1 million after underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on or about July 27, 2026, subject to customary closing conditions. Codexis has granted the underwriters of the offering the right for a period of 30 days to purchase up to an additional 2,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions.</p>  <p>Codexis intends to use the net proceeds from the offering to fund working capital and other general corporate purposes, including research, development and business activities.</p>  <p>Piper Sandler and Cantor are acting as joint bookrunning managers for the offering. Craig-Hallum is acting as co-manager.</p>  <p>A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on May 14, 2024. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, by contacting Piper Sandler &amp; Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, MN 55401, by telephone at (800) 747-3924, or via email at prospectus@psc.com; or Cantor Fitzgerald &amp; Co., Attention: Capital Markets, 110 East 59th Street, 6th floor, New York, NY 10022 or by email at prospectus@cantor.com.</p>  <p>This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.</p>  <p><strong>About Codexis, Inc.</strong></p>  <p>Codexis&#xAE; is a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, leveraging its proprietary CodeEvolver&#xAE; technology to discover, develop and enhance novel, high-performance enzymes. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing, and greater sensitivity in genomic and diagnostic applications.</p>  <p><strong>Forward-Looking Statements</strong></p>  <p><em>To the extent that statements contained in this press release are not descriptions of historical facts regarding Codexis, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995, including Codexis’ expected use of the proceeds of the public offering. Such forward-looking statements involve substantial risks and uncertainties that could cause Codexis’ future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. Codexis undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Codexis’ business in general, please refer to Codexis’ prospectus supplement filed with the SEC on July 23, 2026, including the documents incorporated by reference therein, which include Codexis’ Quarterly Report on Form 10-Q filed with the SEC on May 7, 2026, and Codexis’ other periodic reports filed with the SEC.</em></p>  <p><strong>Investor Relations Contact:</strong><br></br>Georgia Erbez<br></br>(650) 421-8100<br></br>ir@codexis.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc2NzU3OSM3NzIxNTY1IzIwMTY1MzQ="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/YThmYTFlNTAtOWQ5YS00ZGIyLWFmNmMtZmM3NzdlZWMzZGJhLTEwMjgxMDctMjAyNi0wNy0yNC1lbg==/tiny/Codexis-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/ebbfa755-c2db-4783-aace-43c700ba3369"><img src="https://ml.globenewswire.com/media/ebbfa755-c2db-4783-aace-43c700ba3369/small/codexis-logo-september-2023-png.png" border="0" width="150" height="41" alt="Primary Logo"></img></a></p>

Codexis announced an underwritten public offering of 16,666,667 shares at $1.50, with a 30-day greenshoe for up to 2.5 million more. Net proceeds are expected to be about $23.1 million to fund working capital and R&D. The deal signals near-term dilution but provides capital to advance ECO Synthesis and CodeEvolver initiatives.

News insight

Codexis Announces Pricing of Public Offering of Common Stock

AI summary

Sentiment rationale

Key facts

Corporate Developments