This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Enzyme Developer Codexis Files For $100M IPO

NEW YORK (AP) ¿ Industrial enzyme developer Codexis Inc. plans to raise up to $100 million in an initial public offering in 2010.

The Redwood City, Calif., company has not yet set a date for the proposed IPO and did not say how many shares it would sell. Codexis said it will use the funds from the IPO to fund working capital and corporate activities, potentially including acquisitions or increasing its production capacity.

The planned IPO was disclosed in a filing made Monday with the Securities and Exchange Commission. The offering will be underwritten by Credit Suisse, Goldman Sachs, RBC Capital Markets, Pacific Crest Securities. Shares will trade on the Nasdaq Global Market under the symbol "CDXS."

Codexis develops technology that is used to create biocatalysts, or enzymes and microbes that are used to start or speed up chemical reactions. The company said its technology allows companies to use biological catalysts that can make their industrial processes faster, cleaner, and more efficient, and work in less complex conditions and with less expensive equipment.

Codexis gets most of its revenue from a research collaboration with oil and gas company Royal Dutch Shell PLC. It has also worked with drugmakers Dr. Reddy's Laboratories Ltd., Merck & Co., Pfizer Inc., and Ranbaxy Laboratories Ltd., and said its target markets are the pharmaceutical, biofuel, air, water, and chemicals industries.

The collaboration with Shell is currently set to last through November 2012. Codexis reported $50.5 million in revenue in 2008, and $58.7 million in the first nine months of 2009. It has lost $15.1 million from January to September this year.

Codexis incorporated in January 2002 as a subsidiary of biotechnology company Maxygen Inc. It became a separate company in March of that year.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,341.36 +272.49 1.60%
S&P 500 2,000.83 +28.09 1.42%
NASDAQ 4,617.6680 +69.8340 1.54%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs