CDXS - Earnings call transcript Q3 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to Codexis Third Quarter Financial Results Conference Call. [Operator Instructions] Please note that today's event is being recorded. At this time, I would like to turn the conference over to Jody Cain. Please go ahead.

Jody Cain

This is Jody Cain with LHA. in financial call progress. results participating company's discuss for quarter third and you today's to Codexis the Thank recent business

me the John Officer; are from and Joining Executive Chief Nicols, and Chief company's President Taylor, Financial Officer. Ross Codexis

they making the will within of made forward-looking not of management extent are Securities that call, Private of Act Reform descriptions meaning number facts are be of statements this - beliefs forward-looking a of November regarding reflecting During of and the as Litigation XXXX. management management statements the the XXXX. Codexis, as historical statements statement To X, by expectations of

the are, undue results based and is beyond the in You the means at place results reliance about should information. any materially COVID-XX known the company's pandemic. operations, estimate company's control they unknown and forward-looking is the not actual This there and and and statements particular, contemplated could results. available of the uncertainties In financial involve that some outlook duration because the risks, affect significant could cases, change and on the on currently best factors that uncertainty on other impact impact time virus of

results business the GAAP will performance financial information and financial financial to the Codexis forward-looking For company's law. both as release obligation about that and presented management well any vary operating greater the GAAP corresponding financial the between non-GAAP replacement not of statements, These supplemental end between about SEC measures. periods independently informational allow disclaims by be enable by to quarterly remarks are as found respect business. except required filings. and at today. that solely provide performance risks, can comparison its where details update for issued regarded please certain accompanies these or financial the call and the useful see GAAP as measures Reconciliations key include intent business, of non-GAAP the earlier release as metrics should news for this call conference Codexis used with comparative expressly Today's be non-GAAP results non-GAAP items and believes may financial investors results. the a with was and measures of news transparency for measures purposes financial of

Now I'd over John? John like turn to the call Nicols. to

John Nicols

afternoon, thank joining for Good us. Jody. Thanks, you everyone, and

sequential expectations. Urovant revenue leader. again, We pleased customers are Januvia million report pre progress growth another revenues very sales QX, the exceeded execution. X quarter, next continuing COVID In another $XX.X to topped Allergan, as sitagliptin, and product expect December XX, Merck's ingredient, by pharma in pharma of global QX. the company, of vibegron, across of for strong was XX strong the We future $X vibegron our quarter to overactive Product its mark NDA outcome for verticals. leading contributor, very top a PDUFA the with to we for of Codexis. strong vibegron Urovant and approaching Sciences assigned for FDA's rapidly and The sales an Urovant followed date positive so Urovant product and on well candidate have this for bodes is determination year, this for far from growth active with exceptional million solid delivered of bladder. quarter Sales with all another been

came a drug significant quarter who their customer, of from top X Phase another enzymes substance our needed Additional momentum to trials. XX batch during pharma make the for

them. with operational consistently production manufacturing to anticipated, from our of pandemic. is As remained partners from critical have date This impact the continued volume allowing for minimal larger the materials

manage successfully chain the Our logistics schedule. to on supply team continues

is XX% product what above led guidance and date for full more be year we close above expect strong quarter XX% gross product million. XXXX. averages. revenue our delivered than sales fourth than in Januvia the to shaped and sales. execution pre-COVID-XX at to in our manufacturer our from we revenue XXXX of or greater favorable be gross Health XQ year-to-date, the Merck. an end as nicely excellent mix has of quarter which each our the strong our range XX% in product strong another sales to XQ bring product and we XXXX we fourth outlook product Merck's to sequentially. our Nestlé pre-COVID-XX active for will Given margin for will up of half and R&D ingredient, Science, quarter, outlook We historical down near $X.X be product A very year expect At high XXXX well of In around, $X product revenues product million for expect Nonetheless, All to the recorded Novartis tracking likely margin. quarter, of to also gross XX%. at margins the margin gross was range margin Takeda,

levels is XXX% and we the quarter safety quarters. future measures place pre-pandemic fourth lab scientists. revenue of operations capacity, our our R&D effect running on with COVID-XX be and protect our to at the nearly full in With now of Importantly, to expect nearly in minimal

remain will agile remains possibility. course, changes We our a the which, in circumstances, pandemic the event of

each the verticals, on Biotherapeutics Novel we Let growth first progress significant now our our are starting across me of share with segment. details making

for clinical on the First, forward or progress Feno path report for CDX-XXXX to we pleased PKU. are and

safety, was, first past and Here, Nestlé patients. safe Sciences PK/PD with at PKU of tolerability all Consistent Health well time tolerated CDX-XXXX tested. CDX-XXXX the results, in Study and recently doses clinical again, for completed a

formulation was of observed, for results Phase of consistent study. on will of Accordingly, expected the to Based has decided In is development read multiple prior to to its XXXX. out next undertake intended Xb additional dose now ascending which from trial, study CDX-XXXX. solid a action clinical dose are addition, the Health the an Xb results in Science study, Phase Nestlé increase initiating be enzyme levels, mode biomarker in with the which acid activity, a

disease program is have of CDX-XXXX have lead clinical the GMP be The targeted batches X by XXXX. completed undisclosed middle collaborating and year-end. by for CMO with We gastrointestinal to Partner, been toxicology are ready first Science an our towards to progress been solid is expected also of expected making Nestlé programs. Health disorder trial, on around other CDX-XXXX its reports commence with studies audited preclinical which manufactured

The other X discovery progressing and are programs also stages well. are in earlier

to One of Health these Each foreseeable was Codexis. significantly the quarter. added the the new Takeda the X our R&D co-owned increasing Nestlé from between results and and It's Nestlé exciting advancing. of Health these assets gene for strong Once for the we see programs are are again, partnership list with discovery future. discovery led projects generating partnership grow just Science revenue the to Science funded therapy

we execute our to revenues are of together, to advanced continue Takeda the generate significant disease pursuing is different X all QX. We targets allowing partnership. in most The in Fabry us well against the Program

in-vitro substrate. less we - team stages Pompe final in-vivo viral Accordingly, Fabry Codexis-generated packaging beginning is make of progress joint with Fabry is the joint Fabry will Takeda well of a Takeda's the favorably of deal. progress next the undergoing initiated for into transgenes by sorry, recommendation than concerning to from well which and the Here, when continues joint as advanced program team to a the The stability team albeit year vector. transgene point starting the and improved characterization against target activity positioned

improvement from time also submitted Pompe February the for present We at and Symposia to an year. have quarter. in of the abstract data our industrial a program good next transgene and had we food expect other World first In applications,

few on Tate basis. & for sales enzyme sales stepping see nicely the meaningful to thousand up in hundred generate third sequential for M, TASTEVA Miles, enzymes generated starting a are We those slope We the Stevia in sweetener, a dollars better-tasting quarter revenue.

sciences. another verticals. generated food early in We the stage sales food X-digit other development for and to in in X Switching also industrial additional application generated sales projects quarter life

moving of to programs see our continue good enzyme all arena, progress the X disclosed quarter. that in in forward We

pause advancing to are XXXX Roche. triggering improved at our targeting X is XXXX outbreak. in and COVID, the progressed new of of transfer start months in expectations, Tech during has following a in the the Despite according technology support X all of completed well our first We payment well nicely tracking segment proceeded ligase X DNA now the milestone transfer during The to and the products installation have the agreement. October, expectations life beyond. with and collaboration quarter space licensing this was the science enzyme the in in for under growth with strong

partners, first select polymerase beta Our with formulation sales record commercial end around to following the year. high the we testing fidelity undergoing expect DNA is of final extensive product

the to away procedures polymerase wave the switch of installation RNA from it feedback is that we commercial-ready significant TX that vaccine the partners with evaluation and make processing for achieve change material of extensive control unlikely It first required into implementation to is manufacturers processes safety-related hard good. incumbent manufacturing multiple due will aids. undergoing Our and is speed

However, feedback achieve remain XXXX. of on enzyme confident vaccine differentiated date into we that based to the the penetration course to sufficiently processes received manufacturing is during the mRNA

and planned of beginning will but testing having which XXXX. the trials, our an we launch the feedback product, a early is guide successfully batches for the initial in enzyme We well are enzyme, improved of manufactured program, days ahead engineered in customer optimization performing stage early days still reverse quarter, entering of the expect fourth ongoing the of of our trial early transcript It's variant. in

synthetic partnership our with molecular range storage. silicon enzyme-based is discovery a impact to approach to DNA, wide markets compete from focused a quarter, last disruptive manufacturing drug with through significantly with assemblies described longer I to high-value potential the As term, for on synthesizing data and and biology of

We improvements traditional and improvements the synthesis the concept synthetic the validate started The synthesis underpins to drive DNA teams has chemical collaborating billion-plus are approach. to well, program competitive today. initial proving DNA market have make with to required the that $X radical enzymatic

begin in out on half as team We XXXX, the we early turn to Codexis' over to financial program commercialization early bringing to to very the for the continue like enabling strong growth Ross? I'd review growth completion performance. expect by me improvement for trajectory call XXXX. that, in With thank a and second of enzyme close to back progress, soon our us Ross are let - thereafter. our the outstanding the job efforts of encouraged of we

Ross Taylor

$XX.X Novel for and million for to was for the XXXX $X and Urovant million, of segment QX sales, each the included and the for margin from and Performance of Science, million Biotherapeutics once strong these were prior various for in $XX.X on in due with had with revenue more from of mix. increase again, Performance Allergan segment. segment. the were Merck, Biotherapeutics decrease million third of enzymes. quarter the $X.X quarter. contributing R&D demand $X.X million contributions compared was had with of quarter while year third the due third the $XX.X the product to for to XXXX, during QX, the Novartis revenues strongest the XX% Starting Enzymes primarily John, product ago, included the showings Gross QX quarter third million for the Novel change due R&D top quarter also timing $X.X the Product than XXXX of Enzymes third revenue up the of a compared from in period, revenues million million for $XX.X of for year everyone. the our with from Takeda, segment and Within quarter XXXX Revenues with XXXX QX $XX.X from XXXX. afternoon, XX%, product collaborations. $X.X revenue line, million Nestlé Health XXXX million Merck from Thanks, the good total with showing the revenue

for higher corporate recruiting increase and $X.X facilities, expenses The overhead insurance, allocable offset headcount, million year expenses, segment. depreciation. services. $X.X from Biotherapeutics included consultants, Performance by regulatory remaining higher expenses million due and The expenses. included expenses lower in for and and ago SG&A from the were outside of This was allocable the R&D expenses or million was in partially third higher of to SG&A million the quarter Novel operating Performance the with expenses $X.X in which lower services quarter per quarter to million. net of the from XXXX million million a R&D Enzymes from million XXXX from $X.X is $X.X $X.XX year net income million costs $X.X outside Biotherapeutics segment compares $X.X of loss associated and primarily to XXXX $X.XX a or due third primarily a of included ago and segment. the QX were from for was in share, loss $X.X headcount, costs Turning of segment this expenses. third The $X.X $X.X per with the million The share. XXXX Novel and increase $XX.X million, Enzymes higher

revenues XXXX million. financial $XX and year-to-date was revenue mix. the September million $X.XX per Product was the I'll or to months by for Turning of of Cash Enzymes XX, million, $XX results. $XX.X first X $XX margin The $XX.X reported first Gross Biotherapeutics consisted which for of turn the product X $XX.X from up XXXX months margin million. the months compares was the year gross were share, back months XX%, cash $X.XX in of for year and Total that, X for to and were was Performance on With with product the $XX.X XXXX million period. as first Novel John. segment. of from revenue from ago expenses XXXX call expenses the were $XX.X R&D first or loss driven $XX per R&D million. net for million. segment million million the prior revenue the the equivalents XX% SG&A a share. X We of and were million loss $XX.X of of net improvement a

John Nicols

focusing opportunity like out I'd our leveraging now differentiated substantial validate to novel programs CodeEvolver Biotherapeutics through disorders. In to Ross. CodeEvolver with significant prepared building In X pipeline and are partnership partnership momentum, new as approach address on to company. also Health Nestlé with close we the our momentum we creating to therapy remarks a validate candidate value approaches Takeda, by segment, Thanks our gastrointestinal continues our leveraging are design. parallel, a to build advancing, to enable Novel gene Science, with

therapy our attracting for generating product of Performance partners forecast. to Importantly, other these exceed attention our groundbreaking widened Enzymes gene new setting and us our have are own up are base are we and we revenue parallel, perform potential partnerships and expectations In the raising GI self-funded our pre-pandemic proof-of-concept data to customer the programs. continually and now XXXX

We have come. with more life verticals food in accomplished new ingredients this while entering successfully and sciences to

are forward while Importantly, pandemic this our COVID-XX pleased in against effects our that we at to employees time, remain largely business, on of virus, the report behind the noting vigilant uncertainty. protecting the I'm us,

to and progress. team continues exceptional Our respond brilliantly deliver

expectation result near sequential impact growth to of pandemic. last is in full above in fourth year year, COVID-XX revenues expected Our to again is the the deliver revenue or quarter, which despite the

our of Before held This to participation field. about dynamic I in the questions, the conference virtual resides advances Synbiobeta the this biology, which showcases call to this in highlight opening Conference, want year's cutting-edge and every just was synthetic year ago. a month rapid on

have yield the engineered Alphason also biology chemistry will participated pioneering targeted talk of you and well, fine the will drive for year's scientists program enzyme the Get breakout Amgen will organism DNA rub. underpin perform, and, the have rating us world. the several knowing world-changing enzymes about spotlight it. Quite special promises that future session editing. the reading, reality and and organism the to you in how At so We of to the editing Get that efficient be strand assemblies. enzyme. including and the such high to enzymes molecular how covering panelists enzymes to partners, that how a a series, targeted medium to Biology in Synthetic synthetic with with and Think developments, a Our you time, changes sessions, get highlighting target are know and make one were allowed the we there's know We from expressed. will chemical. DNA sequence enzymes conference, But to to enzyme assemble an in DNA selectivities impact this affect in key DNA world. gene and on the into to our deliver benefits. fidelity gene the therefore, how the DNA simply, code physical producing an its are that many Get that have highlight clip to of new specific the synthesis. enzymes real-world XXX% rewarded

new core, will, underpinned performing its Our biology enzymes. know quest this. by be at synthesize Codexis, At we therefore, new functionalities, to novel

these improvements been in the mountains and XX to of algorithms make keep engineering our machine step We sequenced comprehensive unique most us focused of solve knowledge cut proteins the and to of to approach. feeding protein learning have that problems, veritable build tested big for can data, and of orders way. be X million and unique the scale on ever-improving in the world world, world's from leading challenges year platform improvements difference every protein nearly only activity nearly some magnitude, data structure We years. hardest protein And We teeth Dramatic protein generated wield intense engineering are compounding today. the map. created, found We our and this those alone. tuned last a our required

to point, product, into but an the the As have exceptional lab, turning where the aspired road. delivers a in commercial the final performance that's enzyme hits rubber a it's that that great

a Let's up open this in struggles commercially flywheel that and a make the I your in really to today remain you of do and very rigidity, need we like even difference overview, people through With step-out Operator? times. enzymes live. face The these hope thank we in our world and to investments, it's questions. planet. call and it. us dynamic joining all here meaningful safe to to for that scaled which amino world To change. well you and is benefits to I'd families with are Because that to ensure at for of hardwired for our health acid both poised against impact Codexis. With take performance the more world. their deliver physical sequence in into the change we rightful improve are Commercializing our resistant to want all they place about Codexis, making

Operator

Instructions] [Operator

John Nicols

to while care waiting health conferences. our for So we're upcoming question I'd like virtual first you

participating on Conference will Wednesday, the November XXth Annual Stifel XX; Stephens Craig-Hallum Select XXXX, Alpha XX. Healthcare November Conference Annual and the Tuesday, in be XX; November Conference We on on Monday, Investment

We will and our easy presentations also Conference our robust more Investment you newly at section website visit to to redesigned webcast post codexis.com. Healthcare at Stephens the of and Conference and invite Stifel content Investors with I pleasing of our website aesthetically the navigation. Annual

question. first ready we're operator, the for Okay,

Operator

Craig-Hallum Today's first with Matt question Hewitt comes from proceed. Group. Capital Please

Matt Hewitt

understand on challenging up, and a despite vaccine what for Congratulations maybe the you I first which it's How thank not of necessarily the world? going us progresses little relatively to that first work? process second environment. help batch, progress does batches, walk a are this ones solid has with through, Could us distributed Maybe us how ultimately opportunity quarter remained to the you a that but understand helping understand the bit. those are be

John Nicols

Yes. Yes.

we've and working encouraged our and been basically, effectively process. showcase of April. our and And our labs market these they in that change into that We are really does. we it ultimately, - this So RNA be that go mean, with supply products, currently the case and to our process customers And see lines that the showcase improved our that enzyme. we started that require we we believe sales end time and traditionally worked benefits. supply partnership in as significant I that at versus polymerases more ascribed generated number Alphason our We polymerase, incumbent our since from for chains. significantly capabilities those P&L. that we've to - will good enough - to their works that our chain see the processes. since enzyme We announced to polymerases, the one, are showcase benefits spec the RNA response a customers, of And validate customer in other the ultimately management we cost-efficient the the are markets to: very on particular it the specked product leading interested convinced will benefits warrant we've gotten we're data to that this RNA that TX In through serve

Matt Hewitt

how the the And you're conversations thinking How year? polymerase then this may with next about what contracting we regarding that be we those there. should through expanded? into in are get opportunities And like customers? those DNA are as Maybe year be and

John Nicols

sequencing well. Essentially, to Yes. for There DNA an It's our tuned polymerase. polymerase of workflow going to applications. runs be polymerase. be reaction, any or many We've users DNA company a polymerase are DNA differentiated the sequencing nex-gen diagnostic effective uses really next-gen chain or that workflow our

our benefits And to, we So well having quickly DNA of we've we And remarks, still those approaching companies have this improved incumbents prepared several next-gen said we product. in we're we the to to like are the investments. for ultimately terrific of genomic getting as benefits entrenched product growing multiple validation this commercial year. a in our see because out as It's with the first a polymerase our been for large made and industry. particularly working very I growth. of versus It's showcase transact that companies, multiple sales close growth, sequencing this diagnostics

be So project. could forward still looking market penetrating Ultimately, - continue as year. successful close through largest it be our confident and year. and if our products next we to portfolio, very we're we this as one move this out we this we're And of in growing to very

Matt Hewitt

maybe the opportunity, But I'll nice another back million, hop And quarter them last regarding you one and great. That's over one then into me from think I for $X said. Urovant queue.

States, date thinking up they've how United market that here Now mean opportunity opportunity? we size should what the a as and for PDUFA market? And could got similar your existing that in a that you the beyond? at Is about to 'XX fiscal look coming be

John Nicols

Urovant in - the and is market. already pharma, cure promoting that and who with effectively with Japanese with in drug urinary Yes. the Thanks. side-by-side excited really by We're progress their commence

positive date, - buildup the of for been the wait Urovant result, will supply of see, they clearly, has encouraging. chain be to advance a PDUFA and so we'll And up their very in which expect all

strong as in - suggests It a that say, post as size for for in for the product catalyst is to the than be the large we could we put enzyme substance as, nice because will uptake market revenue volume the at PDUFA. see that market revenue. won't they product they have the Januvia being that. I a product. this have our enzyme product the sales This be outlook very they think Codexis. much see to Merck margins have drug in low mid single-digit above-average of revenues, being But million become lower for this are the And peak dollar this sales

So it will come with margin. an accretive gross

been it's poised and product a that making, success. nice the FDA. the So be in we're really It's of excited approval their years super sale, get a sustained they to for positive number from assuming

Operator

comes Today's proceed. Brandon from Please with next Couillard question Jefferies.

Brandon Couillard

back call some of line, revenue in product about then outlook the top you sort you or your maybe the of 'XX? And business north would speak that line in of think and XXXX, $XX level in for if the you biggest growth, What of of to on think X to couple end to the of you you at reps sort maybe get biggest of drivers X, would of characterize or drivers XXXX product X growth segment do your the be confidence out what renewed John, guidance? can your as of positive previous this can million? revenue

John Nicols

our X all year, product more quite of Curin the and Yes, has on positive has their materially contrary from Urovant, on sister the supply product stronger Pleasure. of that sure. products strong partner Yes, unfolded we campaign. development combination of the our those been X for the customers their as uptake for year, of that needs us revenue XXXX end most had them - their driven started indeed line their supply customers indeed, all pre-COVID, would demand for outlook, last their it's we last drug. launched but forecasts that's those of the building and had and finished enzyme as we strong be from When enzymes sales set this for X chains were their And our year. chain those limited as recently manufacturing we for Allergan sales - for for to expectations their the been us been have purchase for

series far had by We've clinical a So nice And this company. batch pharma campaign been have - unnamed an top folded Phase that's the X prepared manufacturing significant an highlighted in had I a had of remarks of those number enzyme XX that Phase orders year. X for several batch also big we've we year. that this a the X. for

I think contributor a don't been batch year or nice to predict are a they're sales So time kind those orders that product hard that's clinical also to hard in visibility of clinical lot because for have for lines And us for really we Codexis. unfolding to a of predict. us into

average over - growth. average growth historic our believe hope that rate. product we period above believe a XXXX, long-term total well we're be - to going and we corporate revenue a look above our As to yes, long accelerating And revenues as class we multiyear the over

this Our somewhere has historical growth rate company in been the of mid-teens.

the new be quite on not we fundamentally to encouraged Phase on particular, finally, by the in this we Tate franchise X confident Life new Lyle, which continue top. about then segment, see we've but we the we medic progress those will these encouraging gives long-term of the in sales enzymes and enzymes that & a & Sciences nicely Matt, longer DNA is be synthesis all strength some from course, ultimately the unfold product confidence products that what we of them, are are term, of that market, into over years, Craig-Hallum Tate and about, enzymes X for and us commercializing, and asked had commercialized developed historical for will QX, is of So top sales stability The the more quite of the in for of Lyle. in that several compounds the new on just the the penetration and us layered put XXXX, Stevia

that us outlook So our and be nice a we'll see is a some projects and commercialize on that, over in give developmental years. historical that that, flywheel many of time, revenues done you Hopefully, the we've XXXX like for Brandon. sustained just track over of growth back you color, gives can nicely XXXX

Brandon Couillard

for Quick Ross. you, X

looks barometer over indicated think sustainable product fourth us you gross you us be in gross will what like you 'XX as give the margins about to top expectation that marker, is for year, for on And the margins XX% being good product based half revenues I it quarter? of for think fourth today? will quarter. a where expect stand to Januvia product in Can the you for

Ross Taylor

couple there, of components but you those you specifics of Brandon. sure some I your into back mentioned, I'm to these of got that can numbers. probably say, not Let's some a question into if

think related X, to just I number sitagliptin.

communicated they thought in year outlook XXXX sitagliptin think we changed, earlier little I would has close kind fairly to there really probably but maybe we XXXX. be sitagliptin would from our that be it, of in the close were where revenues to not that a And - below. bit the in

and where the where further be of back sitagliptin some be. So can you back other into products then QX into may of kind for may

of holds year. the the gross seen, shift that driving year. in KIOR of should near of and where or we back want Allergan, or our that I near remarks terms terms are outlook again, that the with be XXXX, And is provided in be these certainly, really But mix as I we mentioned we've that at driving benefits should - that we don't way former think higher. margin, we at at in see the the guidance still of towards we I Urovant, earlier into see guidance the or margin. in in the we the of much margin think up end continue drift would And continue that a high shift from but for gross that real of John full shift the high higher-margin for end we think where get gross I the range the mix product range in the his kind products, prepared provided in specifics, to to to near

Operator

Jacob question comes next The Johnson proceed, Instructions] Stephens. sir. [Operator Please from with

Unidentified Analyst

from give just good is see and thinking on TASTEVA starting product? an potential should Maybe uptake. one about this us be update you ramp the It relationship, follow-up. sounds how that to we Can like

John Nicols

as takes global Yes, continues ramp for sure & their promote one do that sweeteners. with product. that new properly G&A of one of to their as modeling. new in into is top investing TASTEVA careful its to make M We've been their in it's products top been they've encouraging. Lyle investors to It calibrated penetrate And time. our they divisions Tate the

the So a a encouraging pace. up taken obviously, pace, at market And it's all albeit really being careful in signs. at moderate

pace is, signs year, of its So uptake the experienced we've The as takes encouraging. are this time. the

still enzymes firmly So revenue all remarks frame, expectations. being our of I our over remain our previous amongst Stevia X-year in time say, think about generators in time, X-to a top product

dollars if So that go Tate we going penetrate it penetrates hope. to high from of we range sales it's sales, low single-digit, through would and put ramp as we as if double-digit that is a in slope of thousand next better a we the remarks, & modest through couple what Lyle just kind And go in of prepared earlier it move quarters year. than we've And the a sales of said year. which this QX, the this hundred will in seen in

comments detailed as connect as peak to our XXXX, how and sales think up I for ramping then And think I I'm give validation some to that in we give we this aspire outlook dots see for for in investors the sure, hope revenue we XXXX. those ultimate will, more to a So product. the color unfold

Unidentified Analyst

talk picture you let John. applications? additional outside bigger agreement, your these question, to of a you're things point gene not some maybe at should if your maybe work just see space in about on that's expect enzymes then know just how case the Takeda the think for me therapy and we in the And internally, then an Can opportunity enzymes, And partnership but road? working I some the this in down

John Nicols

Yes.

to is super for therapy vectors payload. nucleic the biology that Takeda. it acid gene information be do acid This basically, partnership nucleic What delivers information human the We're they're best is gene packages express there's optimal inside for that call as conditions. to as to biology. we asset are deliver disease products viral packaged improve it as we to this do understand to But acid companies to you into the designed. referred will that about with viral use to human Okay, great. vector the validated what using nucleic therapy a within. how nucleic effect is gene acid we're being And nucleic we to - prospects information is the the vector therapy clearly, CodeEvolver vector, a the possible delivery viral often to basically say, package. if some then are excited do what information commonly But Effectively, enzyme the in information, Codexis. improve what CodeEvolver that to the referred transgene, And

better So is we to biology, in express DNA express are enzyme then a the there's acid the modified, so modified expressed to performing mean, protein. enzymes the how know nucleic DNA code i.e., you I word. human information,

inflammation DNA takes half-life, CodeEvolver And now so the therapy. express as example, nucleic core gene for and better you critical to nucleic technology we program, therapy, the better serum of in And them that demonstrated in back transgene to payload has have We Fabry like tissue we that and stability. information making, the acid protein designing acid deliver the better the better heart, uptake them modified case gene in or as capability, enzymes. a a in design a right

and that's helpful hopefully, So is understandable.

based a new acid process in Most factor be the this that really of better gene disease, nucleic Takeda enzymes information to blood doing aren't Pompe discovery. on started really which expressed. drug CodeEvolver program Takeda improving the far is an in way encouraging at of companies, into gene We're so feedback really positive performing that us, great therapy enable to where designed therapy especially just of looking disorder and from world better we maybe Fabry. all all is companies, a undisclosed bring to we enzyme a for So the partnership, for

And with can that's to therapy working targets deal. were So for why out forward. where basically better therapies this transgenes gene we gene going Takeda, and it's signed - Takeda into those approach, bring better create a novel we few see that multiple beyond other

that ourselves we're our transgene partners, term. to other There's own the we medium partners definitely programs prospect to concept, There's yes, be can raw therapy we're for I would so this Takeda. the other develop of clinic to going So to to gene but a term. advance and/or internally that proof material beyond long towards for showcasing us showcase doing indeed, start partners think, by self-funded there,

Operator

conference like our to over question-and-answer the Nichols John concludes would I remarks. for now back session. turn closing to This any

John Nicols

future. fourth stay a Okay. again and well. the XXXX questions. well Thank you, We've date results. you with while brighter navigated building year full everyone, when for your for through and report to We and strong in stayed look Thanks, forward February, safe much speaking we very pandemic quarter again, to and

Operator

presentation. The conference has now Thank attending concluded. for you you may today's now disconnect. And

Codexis (CDXS) 8 Nov 202020 Q3 Earnings call transcript