五星体育直播 Announces Preliminary Second Quarter 2022 Results and Updates Guidance

Final financial results for the second quarter to be reported on August 4, 2022

REDWOOD CITY, Calif., July 14, 2022 (GLOBE NEWSWIRE) -- 五星体育直播 (NASDAQ: CDXS), a leading enzyme engineering company enabling the promise of synthetic biology, today announced preliminary revenue results for the second quarter ending June 30, 2022 and updated its revenue guidance for 2022. 五星体育直播 currently expects total revenues for the second quarter of 2022 to be approximately $38 million, and total revenues for full year 2022 are expected to be in the range of $135 million to $141 million.

鈥淲e remain very pleased with 五星体育直播鈥� growth trajectory in recent years and the strong product revenue that we continue to expect to report this year,鈥� said John Nicols, President and CEO of 五星体育直播. 鈥淥n the R&D revenue front, we continue to be confident in our ability to execute on our pipeline of partnerships in the coming quarters. However, our prior total revenue guidance for 2022 anticipated more R&D revenue from these partnerships in 2022 than we believe is now possible at this point in the year, due to a mix of fewer new deals being signed in 2022 and lower-than-anticipated revenue from existing customers. As a result, we are reducing our 2022 total revenue guidance to reflect our updated expectations. We look forward to providing additional perspectives during our second quarter earnings call on August 4.鈥�

五星体育直播鈥� updated 2022 full year financial guidance is now as follows:

  • Total revenues are expected to be in the range of $135 million to $141 million.
  • Product revenues are expected to be in the range of $112 million to $118 million, consistent with prior guidance; however, product revenues from Pfizer are now expected to be at the low end of prior guidance of $75 million to $80 million, which is expected to be offset by product revenues from other customers.
  • Gross margin on product revenue is expected to be in the range of 65% to 70%, consistent with prior guidance.

Second Quarter Conference Call and Webcast

五星体育直播 expects to report its final financial results for the second quarter of 2022 after the close of the market on Thursday, August 4, 2022 followed by a conference call at 4:30 p.m. Eastern Time to discuss the Company鈥檚 financial results and provide a business update.

Participants may access a live webcast on the where it will be archived for 90 days. The live call can be accessed by dialing (877) 705-2976 (domestic) or (201) 689-8798 (international), conference ID聽#13730777. A replay of the call will be available for 48 hours by dialing (877) 660-6853 (domestic) or (201) 612-7415 (international), access ID #13726635.

About 五星体育直播

五星体育直播 is a leading enzyme engineering company leveraging its proprietary CodeEvolver庐 platform to discover and develop novel, high performance enzymes and novel biotherapeutics. 五星体育直播 enzymes have applications in the sustainable manufacturing of pharmaceuticals, food, and industrial products; in the creation of the next generation of life science tools; and as gene therapy and oral enzyme therapies. The Company鈥檚 unique performance enzymes drive improvements such as: reduced energy usage, waste generation and capital requirements; higher yields; higher fidelity diagnostics; and more efficacious therapeutics. 五星体育直播 enzymes enable the promise of synthetic biology to improve the health of people and the planet. For more information, visit .

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding 五星体育直播, including, without limitation, 五星体育直播鈥� updated 2022 financial guidance for total revenues, product revenues and gross margin on product revenue, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond 五星体育直播鈥� control and that could materially affect actual results. Additional information about factors that could materially affect actual results can be found in 五星体育直播鈥� Annual Report on Form 10-K filed with the Securities and Exchange Commission (鈥淪EC鈥�) on February 28, 2022 and in 五星体育直播鈥� Quarterly Report on Form 10-Q filed with the SEC on May 9, 2022, including under the caption 鈥淩isk Factors,鈥� and in 五星体育直播鈥� other periodic reports filed with the SEC. 五星体育直播 expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Investor Relations Contact:

Argot Partners
Brendan Strong/Carrie McKim
(212) 600-1902


Source: 五星体育直播

Released July 14, 2022