Codexis Reports Increase In Its Cash Reserves Through Capital Raises Totaling $31M Via Existing ATM Facility, Bringing Cash Runway Into 2027; Georgia Erbez Named As CFO
Portfolio Pulse from Benzinga Newsdesk
Codexis has increased its cash reserves by $31 million through capital raises, extending its cash runway into 2027. The company also appointed Georgia Erbez as CFO and Alison Moore as CTO.
October 02, 2024 | 8:10 pm
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Codexis has raised $31 million through its ATM facility, extending its cash runway into 2027. The company also strengthened its management team with new appointments.
The capital raise of $31 million significantly extends Codexis's financial runway, which is a positive indicator for investors as it suggests financial stability and potential for growth. The appointment of a new CFO and CTO indicates a strategic focus on strengthening leadership, which could further enhance company performance.
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