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Codexis Reports First Quarter 2011 Results
Date:5/5/2011

rkets for the company's biocatalyst-enabled solutions include chemicals and water treatment. 

Forward-Looking StatementsThis press release contains forward-looking statements relating to the company's forecast for 2011 revenue and Adjusted 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' Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 10, 2011, 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 EndedMarch 31,20112010% changeRevenues:Product$
2,932$
,275106%Related party collaborative research and development14,82316,042-8%Collaborative research and development2,663661303%Government grants6162,722-77%Total revenues 31,03425,70021%Costs and operating expenses: Cost of product revenues11,6505,218123%Gross margin $1,2821,057Gross margin %10%17%Research and development13,75012,9826%Selling, general and administrative9,0138,6005%Total costs and operating expenses34,41326,80028%Loss from operations (3,379)(1,100)207%Interest income492875%Interest expense and other, net17(358)nmLoss before provision (benefit) for income taxes (3,313)(1,430)132%Provision (benefit) for income taxes 158(61)nmNet loss$
(3,471)$
(1,369)154%Net loss per share of common stock,basic and diluted$
(0.10)$
(0.50)Weighted average common shares used in computing net loss per share of common stock, basic and diluted35,1162,714Codexis, Inc.Condensed Consol
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SOURCE Codexis, Inc.
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