1. Dyadic rebranded as Dyadic Applied BioSolutions, emphasizing commercial execution. 2. Completed a $5.3 million equity offering to enhance liquidity. 3. Achieved increased revenue of $967,000 in Q2 2025, marking significant growth. 4. Key milestones reached in life sciences and food/nutrition markets. 5. Strategic focus shifting from R&D to commercialization for product launches.
The rebranding and strategic refocus may attract funding and partnerships, boosting DPAC's market perception. Past transformations in similar biotech firms led to positive price movements.
The article outlines significant operational changes and financial maneuvers that are poised to drive DYAI's growth, representing high value to stakeholders.
The ongoing commercialization efforts and expected product launches suggest growth potential over the coming quarters, aligning with investor expectations for future profitability.
JUPITER, Fla., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Dyadic International, Inc. ("Dyadic", "we", "us", "our", or the "Company") (NASDAQ:DYAI), a global biotechnology company focused on the scalable production of high-value, precision engineered functional input proteins for non-therapeutic applications in life sciences, food and nutrition, and industrial biotechnology utilizing its proprietary gene expression platforms, today announced its financial results for the second quarter of 2025, highlighting recent company progress.
"Q2 marked a pivotal turning point in Dyadic's evolution as we advanced our transformation from a technology development organization to a market-facing, revenue-focused biotechnology company. Our rebranding to Dyadic Applied BioSolutions and strategic realignment have sparked renewed interest across our ecosystem — from partners and customers to investors — and reflect our commitment to commercial execution," said Joe Hazelton, President and COO. "We achieved critical milestones in our life sciences and nutrition pipelines, while our microbial production platforms continued to demonstrate the ability to disrupt the cost, speed, and scalability of protein production across life sciences, food, nutrition, and bio-industrial markets that are rapidly shifting toward non-animal sources. The recent capital raise should enable us to accelerate our shift from R&D-driven to commercially focused, and we are particularly excited about the anticipated upcoming launches of DNase I and recombinant human albumin through our partnership with Proliant Health and Biologics, the first of a potential series of product-driven revenue catalysts as we continue delivering on our mission to engineering proteins that power progress."
Recent Company Developments and Updates
Life Sciences
Food and Nutrition
BioPharmaceutical Programs
Bio Industrial Products
Financial Highlights
Cash Position: As of June 30, 2025, cash, cash equivalents, restricted cash and cash equivalents, and the carrying value of investment-grade securities, including accrued interest, were approximately $7.3 million compared to $9.3 million as of December 31, 2024.
On August 1, 2025, the Company closed its public offering (the "Offering") of 6,052,000 shares of its common stock, par value $0.001 per share at a public offering price of $0.95 per share. The net proceeds to the Company from the Offering were approximately $5.3 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes, such as product development, sales and marketing.
Revenue: Total revenue for the three months ended June 30, 2025, increased to $967,000 compared to $386,000 for the same period a year ago. The increase was driven by the $250,000 milestone revenue upon the achievement of commercially viable target yield related to the Inzymes Agreement and grant revenue from the Gates Foundation and CEPI.
Cost of Revenue: Cost of research and development revenue and cost of grant revenue for the three months ended June 30, 2025, increased to approximately $614,000 compared to $302,000 for the same period a year ago. The increase was related to the cost of grant revenue from the Gates Foundation and CEPI.
R&D Expenses: Research and development expenses for the three months ended June 30, 2025, increased to $629,000 compared to $516,000 for the same period a year ago. The increase was driven by a rise in the number of active internal research initiatives undertaken to expedite product development.
G&A Expenses: General and administrative expenses for the three months ended June 30, 2025, decreased by 10.6% to $1,437,000 compared to $1,608,000 for the same period a year ago. The decrease reflected reductions in business development and investor relations expenses of $82,000, accounting and legal expenses of $41,000, insurance expenses of $28,000, and management incentives of $22,000, partially offset by other expense increases of $2,000.
Loss from Operations: Loss from operations for the three months ended June 30, 2025, decreased to $1,729,000 compared to $2,043,000 for the same period a year ago.
Other Income (Expenses), Net: For the three months ended June 30, 2025, total other income (expenses), net, was an expense of $65,000 compared to an income of $3,000 for the same period a year ago.
Net Loss: Net loss for the three months ended June 30, 2025, decreased to $1,794,000 or (0.06) per share compared to $2,045,000, or (0.07) per share for the same period a year ago.
Conference Call Information
Date: Wednesday, August 13, 2025
Time: 5:00 p.m. Eastern Time
Dial-in numbers: Toll Free: 1-877-407-0784 or 1-201-689-8560
Conference ID: 13751388
Webcast Link: https://viavid.webcasts.com/starthere.jsp?ei=1706019&tp_key=4747da0ef3
An archive of the webcast will be available within 24 hours after completion of the live event and will be accessible on the Investor Relations section of the Company's website at www.dyadic.com. To access the replay of the webcast, please follow the webcast link above.
About Dyadic Applied BioSolutions
Dyadic Applied BioSolutions is a global biotechnology company that uses its proprietary microbial platforms to produce recombinant proteins that are sold or licensed to partners across the life sciences, food and nutrition, and bio-industrial markets. These high-quality proteins are designed to enable customers to develop more efficient, scalable, and sustainable products. Dyadic's C1 and Dapibus™ expression systems support flexible, cost-effective manufacturing, and are the foundation of a growing portfolio of commercial and partnered programs.
For more information, please visit http://www.dyadic.com.
Safe Harbor Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including those regarding Dyadic International's expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance, such as the success of our clinical trial and interest in our protein production platforms, our research projects and third-party collaborations, as well as the availability of necessary funding. Forward-looking statements involve many risks, uncertainties or other factors beyond Dyadic's control. These factors include, but are not limited to, the following: (i) our history of net losses; (ii) market and regulatory acceptance of our microbial protein production platforms and other technologies; (iii) failure to commercialize our microbial protein production platforms or our other technologies; (iv) competition, including from alternative technologies; (v) the results of nonclinical studies and clinical trials; (vi) our capital needs; (vii) changes in global economic and financial conditions; (viii) our reliance on information technology; (ix) our dependence on third parties; (x) government regulations and environmental, social and governance issues; (xi) intellectual property risks; and (xii) our ability to comply with the listing standards of the Nasdaq Stock Market LLC. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled "Risk Factors" in Dyadic's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, as such factors may be updated from time to time in Dyadic's periodic filings with the SEC, which are accessible on the SEC's website and at www.dyadic.com. All forward-looking statements speak only as of the date made, and except as required by applicable law, Dyadic assumes no obligation to publicly update any such forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations.
Contact:
Dyadic International, Inc.
Ping W. Rawson
Chief Financial Officer
Phone: (561) 743-8333
Email: ir@dyadic.com
DYADIC INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues: | ||||||||||||||||
| Research and development revenue | $ | 213,449 | $ | 385,896 | $ | 396,549 | $ | 720,513 | ||||||||
| Grant revenue | 503,181 | — | $ | 713,653 | $ | — | ||||||||||
| License and milestone revenue | 250,000 | — | $ | 250,000 | $ | — | ||||||||||
| Total revenue | 966,630 | 385,896 | 1,360,202 | 720,513 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Costs of research and development revenue | 148,457 | 301,956 | 274,937 | 445,911 | ||||||||||||
| Costs of grant revenue | 465,134 | — | 636,312 | — | ||||||||||||
| Research and development | 629,379 | 515,629 | 1,124,358 | 1,038,352 | ||||||||||||
| General and administrative | 1,436,630 | 1,607,756 | 3,032,968 | 3,396,350 | ||||||||||||
| Foreign currency exchange loss | 16,098 | 3,146 | 23,170 | 8,049 | ||||||||||||
| Total costs and expenses | 2,695,698 | 2,428,487 | 5,091,745 | 4,888,662 | ||||||||||||
| Loss from operations | (1,729,068 | ) | (2,042,591 | ) | (3,731,543 | ) | (4,168,149 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 49,127 | 138,471 | 137,585 | 225,914 | ||||||||||||
| Gain on sale of Alphazyme | — | — | — | 60,977 | ||||||||||||
| Interest expense | (89,456 | ) | (88,634 | ) | (178,699 | ) | (110,273 | ) | ||||||||
| Interest expense - related party | (24,377 | ) | (52,469 | ) | (48,696 | ) | (63,288 | ) | ||||||||
| Total other income (expense), net | (64,706 | ) | (2,632 | ) | (89,810 | ) | 113,330 | |||||||||
| Net loss | $ | (1,793,774 | ) | $ | (2,045,223 | ) | $ | (3,821,353 | ) | $ | (4,054,819 | ) | ||||
| Basic and diluted net loss per common share | $ | (0.06 | ) | $ | (0.07 | ) | $ | (0.13 | ) | $ | (0.14 | ) | ||||
| Basic and diluted weighted-average common shares outstanding | 30,102,324 | 29,291,259 | 30,071,285 | 29,085,696 | ||||||||||||
See Notes to Consolidated Financial Statements in Item 1 of Dyadic's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 13, 2025.
DYADIC INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
| June 30, 2025 | December 31, 2024 | |||||||
| (Unaudited) | (Audited) | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 2,140,899 | $ | 6,506,750 | ||||
| Short-term investment securities | 2,842,419 | 2,756,577 | ||||||
| Restricted cash and cash equivalents, current | 1,588,384 | — | ||||||
| Interest receivable | 34,736 | 24,248 | ||||||
| Accounts receivable | 715,317 | 237,027 | ||||||
| Prepaid expenses and other current assets | 84,984 | 303,066 | ||||||
| Total current assets | 7,406,739 | 9,827,668 | ||||||
| Non-current assets: | ||||||||
| Long-term investment securities | 409,670 | — | ||||||
| Restricted cash and cash equivalents, noncurrent | 245,147 | — | ||||||
| Operating lease right-of-use asset, net | 65,961 | 92,211 | ||||||
| Other assets | 10,529 | 10,396 | ||||||
| Total assets | $ | 8,138,046 | $ | 9,930,275 | ||||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 738,794 | $ | 482,320 | ||||
| Accrued expenses | 929,850 | 970,462 | ||||||
| Deferred research and development obligations | 1,833,531 | 833,813 | ||||||
| Operating lease liability, current portion | 57,577 | 54,249 | ||||||
| Accrued interest | 80,000 | 80,000 | ||||||
| Accrued interest- related party | 21,800 | 27,173 | ||||||
| Total current liabilities | 3,661,552 | 2,448,017 | ||||||
| Non-current liabilities: | ||||||||
| Convertible notes, net of issuance costs | 3,930,170 | 3,911,471 | ||||||
| Convertible notes, net of issuance costs - related party | 1,070,971 | 1,065,876 | ||||||
| Operating lease liability, net of current portion | 5,054 | 34,621 | ||||||
| Total liabilities | 8,667,747 | 7,459,985 | ||||||
| Commitments and contingencies (Note 5) | ||||||||
| Stockholders' equity: | ||||||||
| Preferred stock, $.0001 par value: | ||||||||
| Authorized shares - 5,000,000; none issued and outstanding | — | — | ||||||
| Common stock, $.001 par value: | ||||||||
| Authorized shares - 100,000,000; issued shares - 42,389,300 and 42,089,301, outstanding shares - 30,135,798 and 29,835,799 as of June 30, 2025, and December 31, 2024, respectively | 42,390 | 42,090 | ||||||
| Additional paid-in capital | 108,265,657 | 107,444,595 | ||||||
| Treasury stock, shares held at cost - 12,253,502 | (18,929,915 | ) | (18,929,915 | ) | ||||
| Accumulated deficit | (89,907,833 | ) | (86,086,480 | ) | ||||
| Total stockholders' equity | (529,701 | ) | 2,470,290 | |||||
| Total liabilities and stockholders' equity | $ | 8,138,046 | $ | 9,930,275 | ||||
See Notes to Consolidated Financial Statements in Item 1 of Dyadic's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 13, 2025.
