Codexis' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Codexis, Inc. (CDXS)

Q2 2012 Results Earnings Call

August 09, 2012 4:30 PM ET


John Nicols – President and CEO

Mark Ho – Interim Controller and Senior Director, Accounting

Doug Sheehy – General Counsel


Edward Westlake – Credit Suisse

Ben Kallo – Robert W. Baird

Weston Twigg – Pacific Crest Securities

Pavel Molchanov – Raymond James

Michael Klein – Sidoti & Company

Mike Ritzenthaler – Piper Jaffray



Welcome to Codexis' Second Quarter of 2012 Earnings Conference Call. This call is being webcast live on the Investor section of Codexis' website at This call is property of Codexis and any recording, reproduction or transmission of this call without the expressed written consent of Codexis is strictly prohibited. As a reminder, today's call is being recorded. You may listen to a webcast replay of this call by going to the Investor section of Codexis' website.

I would now like to turn the call over to Mr. Doug Sheehy, Codexis' General Counsel. You have the floor, sir.

Doug Sheehy

Thank you and good afternoon. Today after the market closed, we announced our fiscal second quarter 2012 financial results. The press release is available on the Investors' page on our website at

With me today is John Nicols, our President and Chief Executive Officer; and Mark Ho, Interim Controller and Senior Director of Accounting at Codexis. During the course of today's call, management will make a number of forward-looking statements. These forward-looking statements include our 2012 forecast for revenue, adjusted EBITDA, total cash burn and total pharmaceutical product sales; our ability to advance our position in pharmaceuticals and to deliver against opportunities in fuels and chemicals; including development timelines for our CodeXol Detergent Alcohol project; our ability to monetize our technology; our ability to develop our enzyme package for second generation ethanol; our ability to obtain the right to market our enzymes in a biofield field to parties other than Shell; our expectation that Shell will notify us of a reduction in funding of FTEs under our collaboration with Shell, effective September 1, 2012; and discontinue FTE funding after October 31, 2012 and our expected cost reduction measures.

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