Boston, MA 06/17/2013 (wallstreetpr) – The share prices of Codexis Inc. (NASDAQ:CDXS) had surged by 25.35 percent to close at $2.72 per share for the end of last trading session on Friday. The shares of the company had been trading in the range of $2.16 to $2.89 per share during the day. The shares of Codexis Inc. (NASDAQ:CDXS) had recorded 52 week high price level of $4.00 per share and 52 week low price level of $1.99 per share.
Codexis Inc. (NASDAQ:CDXS) is primarily engaged in the development of engineered enzymes for pharmaceutical, biofuel and chemical production and is presently in the ongoing effort to develop a fully integrated biomass to detergent alcohols technology in collaboration with Chemtex, a leader in chemical engineering and renewable processes. The two companies had on Friday announced that their Codexol detergent alcohols made using cellulosic sugars had scaled up in the production levels.
The scale-up was achieved at a 1,500 liter demonstration facility at Chemtex’s R&D complex in Tortona, Italy and is a key milestone in the ongoing effort initiated by the two companies to develop a fully integrated biomass to detergent alcohols technology. A combination of Chemtex’s commercially proven PROESA® cellulosic sugar technology and Codexis’ CodeXyme® 4X cellulase enzymes was used to produce cellulosic sugars from non-food biomass, while the CodeXol® detergent alcohol fermentation process technology – which includes Codexis’ proprietary microorganism strain – converted these cellulosic sugars to detergent alcohols.
Such a scale up in production is believed to represent the world’s first successful large scale effort to produce commercially relevant detergent alcohols from cellulosic biomass feedstock. Codexis Inc. (NASDAQ:CDXS) had witnessed the trade of 1.79 million shares on Friday, while the average trading volume for the company is at 191,093 shares per day.
Codexis Inc. (NASDAQ:CDXS) presently holds 38.01 million shares outstanding in the market with an institutional ownership of 44 percent of its holdings.
