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Codexis Grows Revenue 35 Percent in Third Quarter; Raises 2010 Outlook
Date:10/28/2010

ed EBITDA, which is defined elsewhere in this press release.  You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect actual results.  Factors that could materially affect actual results can be found in Codexis' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2010, including under the caption "Risk Factors."  Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law. Codexis, Inc.Condensed Consolidated Statements of Operations(Unaudited)(In Thousands, Except Per Share Amounts)Three Months EndedNine Months EndedSeptember 30,%September 30,%20102009change20102009changeRevenues:Product$  9,491$  4,636105%$ 24,250$  13,40181%Related party collaborative research and development16,17815,0008%46,87343,9637%Collaborative research and development1,065426150%2,5771,29599%Government grants379-nm3,59311nmTotal revenues 27,11320,06235%77,29358,67032%Costs and operating expenses: Cost of product revenues8,5634,61885%19,85611,88667%Gross margin $928184,3941,515Gross margin %10%0%18%11%Research and development13,07012,2397%39,05639,486-1%Selling, general and administrative7,9408,699-9%25,19220,93920% . . Total costs and operating expenses29,57325,55616%84,10472,31116%Loss from operations (2,460)(5,494)-55%(6,811)(13,641)-50%Interest income6164-5%135141-4%Interest expense and other, net(35)(744)-95%(1,047)(1,530)-32%Loss before provision (benefit) for income taxes (2,434)(6,174)-61%(7,723)(15,030)-49%Provision (benefit) for income taxes 298(16)nm32479310%Net loss$ (2,732)$ (6,158)-56%$ (8,047)$ (15,109)-47%Net loss per share of common stock,basic and diluted$   (0.08)$   (2.35)$   (0.38)$
(5.79)Weighted average common shares used in computing net loss per shar
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