Codexis priced a public offering to bolster working capital and advance manufacturing and enzyme innovation for therapeutics. The company announced the sale of about 16.7 million shares at $1.50 per share, targeting net proceeds of $23.1 million. Codexis said proceeds will fund working capital and general corporate purposes, including research and development, as it continues to develop CodeEvolver enzyme discovery technology and its Eco Synthesis manufacturing platform aimed at scaled RNAi therapeutic production. The offering comes after a revenue uptick tied to a technology transfer agreement with Merck, which Codexis said added revenue recognition in the fourth quarter of 2025, reinforcing the company’s reliance on platform monetization through partnerships.