Codexis, Inc. (NASDAQ:CDXS) Q4 2023 Earnings Conference Call February 28, 2024 4:30 PM ET

Company Participants

Carrie McKim - Director of IR

Stephen Dilly - President and CEO

Kevin Norrett - COO

Sri Ryali - CFO

Stefan Lutz - SVP of Research

Conference Call Participants

Brandon Couillard - Jefferies

Evan Stampler - Stifel

Steven Mah - TD Cowen

Jacob Johnson - Stephens

Matthew Hewitt - Craig-Hallum Capital Group

Operator

Welcome to the Codexis Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions] Please note that this call is being recorded.

And now I'll turn the call over to Carrie McKim, Director of Investor Relations. Please go ahead.

Carrie McKim

Thank you, operator. With me today are Dr. Stephen Dilly, Codexis' President and Chief Executive Officer; Kevin Norrett, Chief Operating Officer; Sri Ryali, Chief Financial Officer; and Stefan Lutz, SVP of Research.

During this call, management will be making a number of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including our guidance for 2024 revenue, product revenues and gross margin on product revenues as well as our strategies and prospects for revenue growth and successful execution of current and future programs and partnerships.

To the extent that statements contained in this call are not descriptions of historical facts regarding Codexis, they are forward-looking statements reflecting the beliefs and expectations of management as of the statement date, February 28, 2024.

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 Codexis control and that could materially affect actual results. Additional information about factors that could materially affect actual results can be found in Codexis filings with the Securities and Exchange Commission. Codexis expressly disclaims any intent or obligation to update these forward-looking statements such as required by law.

And now I'll turn the call over to Stephen.

Stephen Dilly

Thank you, Carrie, and thanks, everyone, for joining.

Seven months ago, we took decisive action to reduce our cash burn by more than 50% and execute on a clear prioritized strategy. We ended 2023 strongly with clear indications that the strategic decisions we made last year are translating into real momentum.

This was illustrated by the series of exciting and validating announcements we made in December, specifically the achievement of ground-scale synthesis with our ECO Synthesis manufacturing platform, the completion of an exclusive licensing agreement with Aldevron for our Codex HiCap RNA polymerase and our purchase agreement with Nestle for CDX-7108.