Codexis, Inc. (NASDAQ: CDXS) shares, having experienced a notable upswing in the standard trading session on Wednesday, sustained their momentum in the extended session. The after-market trading witnessed Codexis stock registering a robust 12.92% increase, reaching $2.36. This ascent followed a 4.50% upturn in CDXS stock during the regular session, concluding at $2.09. The surge in stock value can be attributed to strategic maneuvers employed by the company.

Codexis (CDXS) announced to formalize an agreement with Aldevron, a prominent global player in the tailored development and production of plasmid DNA, RNA, and proteins for the biotech sector. Per the terms of the agreement, Aldevron secures a global exclusive license for Codexis’ Codex HiCap RNA Polymerase.

In return, Aldevron gains worldwide manufacturing and commercialization rights for the Codex HiCap RNA Polymerase, with CDXS receiving compensation for imminent technical milestones, as well as commercial and sales-based royalties. Collaboratively, CDXS and Aldevron are committed to ensuring a seamless transition for customers during the transitional phase.

Teaming up with Aldevron, a leading manufacturer of mRNA, enhances CDXS’s market reach, providing a pathway to a GMP-grade version of its Codex HiCap RNA Polymerase. This development facilitates the efficient production of mRNA-based therapeutics, potentially impacting a substantial patient population.

The successful execution of this partnership underscores Codexis’ adeptness in extracting value from its transformative enzyme portfolio by strategically placing them in the hands of suitable collaborators.

In a separate announcement yesterday, CDXS revealed the accomplishment of gram-scale synthesis using its Enzyme-Catalyzed Oligonucleotide (ECO) Synthesis technology. This pivotal technical achievement signifies the preparative-scale production of an oligonucleotide, comprising modified nucleotide building blocks commonly utilized in RNA therapeutics, under conditions akin to industrial processes.

The successful attainment of this milestone empowers Codexis engineers to commence a thorough evaluation of the purity profile for small interference RNA (siRNA) developed through ECO Synthesis technology. Anticipated early access customer testing is scheduled to commence in 2024, paving the way for a comprehensive commercial launch in 2026.