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November 4 , 2021 CODEXISⓇ Codexis Reports Third Quarter 2021 Financial Results Record Quarterly Total Revenue , Product Revenue and Product Gross Margin Reiterating Total Revenue Guidance of $ 98-103M ; Raising Product Revenue Guidance to $ 63-66M REDWOOD CITY Calif . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Codexis , Inc. ( Nasdaq : CDXS ) , a leading enzyme engineering company enabling the promise of synthetic biology , today announced financial results for the third quarter ended September 30 , 2021 and provided a business update . " Codexis delivered another quarter of exceptional strategic and operational performance , " said John Nicols , Codexis President and CEO . " Our Sustainable Manufacturing business demonstrated remarkable growth , as we significantly executed against the large enzyme orders we received from Pfizer to support its COVID - 19 antiviral therapeutic candidate . Our capacity to fulfill this order in such a rapid timeframe highlights the strength of our supply chain and the value of our deep library of performance enzymes . Also in the third quarter , with Merck and Almelo , we established our first two multi - year agreements to extend our longstanding sitagliptin product business into its generic chapter . We also delivered strong results in the faster - to - market food sector , including enzyme sales for Tate & Lyle sweeteners and a milestone from Kalsec for their newest natural hop ingredient . " In the Life Science Tools market , we are extremely pleased to have recorded our first sales of Codex® HiFi DNA Polymerase in the third quarter . We remain on track with our groundbreaking collaboration with Molecular Assemblies ( MAI ) for the commercialization of enzymatic DNA synthesis . Underscoring our enthusiasm for this disruptive approach , we recently made an additional investment in MAI alongside Casdin Capital enabled by our SynBio Innovation Accelerator . Our high - value Biotherapeutics pipeline is also advancing steadily , including the recent initiation of our Phase 1 clinical trial of CDX - 7108 , our program co - owned with Nestlé Health Science , for the treatment of exocrine pancreatic insufficiency . Codexis remains on the cutting edge of synthetic biology's evolution , leveraging the near boundless potential of our enzymes to improve the health of people and the planet . " Key Performance Indicators and Recent Business Highlights • Product revenues increased 242 % to $ 28.7 million in Q3'21 , primarily driven by the sale of a proprietary Codexis enzyme to manufacture Pfizer's clinical - stage COVID antiviral therapeutic candidate . • Product gross margin increased to a record 76 % in Q3'21 , driven by a shift in the sales mix to higher margin products . In the third quarter , Codexis had 19 customers who contributed over $ 100,000 in revenue , seven of which contributed over $ 1 million in revenue .