Codexis Rolls Into Second Half Armed with Cash
The first half of 2019 was relatively boring for Codexis (NASDAQ: CDXS). It bagged Novartis as a software customer in the first quarter and landed a $50 million equity investment in the second quarter, but not much else stood out. That could be about to change.
The enzyme engineering leader exited June with $93 million in cash and the most diverse customer base in its history. That positions the existing platform to stabilize growth and frees up considerable bandwidth for management to explore new growth opportunities. Turns out, there's no shortage of new verticals to capitalize upon, the business just has to execute. Here's what investors need to know about the latest operating results.
Image source: Getty Images.
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