Codexis priced a public offering of about 16.7 million shares at $1.50 each, targeting net proceeds of approximately $23.1 million to fund working capital and R&D. The enzymatic-technology company also granted underwriters an option to purchase additional shares over the next 30 days. Codexis’ strategy includes using CodeEvolver technology for therapeutics manufacturing enzymes and scaling enzymatic routes for RNAi therapeutics through its Eco Synthesis platform. The financing comes as the company reported revenue gains in part tied to a Merck technology transfer agreement.