From Investing.com: 2024-09-19 18:18:53

Opaleye Management Inc. raises its stake in Codexis, purchasing 61,000 shares at an average price of $3.1638 each. The investment totals around $193,000, boosting Opaleye’s total holdings to 7,585,000 shares.

Codexis reports in-line Q2 results, driven by its dsRNA ligase program. Revenues hit $8 million, with double-digit growth expected in 2024. The company aims for positive cash flow by 2026 and is focusing on RNAi therapeutics and becoming a CDMO.

Investors take note of Codexis’ financial metrics, including a negative P/E ratio of -2.94 signaling conservative valuation. Revenue has declined, but the company holds more cash than debt. Despite challenges, Codexis has seen a 77.71% one-year price total return, indicating long-term potential.



Read more at Investing.com: Opaleye Management Inc. buys $193k worth of Codexis stock By Investing.com