Codexis announced the pricing of an approximately 16.7 million-share public offering at $1.50 per share, projecting net proceeds of about $23.1 million. The transaction is expected to close around July 27, with underwriters granted a 30-day option to buy up to an additional 2.5 million shares. Codexis said it will use net proceeds for working capital and general corporate purposes, including research, development, and business activities tied to its enzymatic solutions. The company highlighted CodeEvolver technology and the Eco Synthesis manufacturing platform, which targets scaled production of RNAi therapeutics through an enzymatic route. The financing comes after Codexis reported first-quarter revenues of $15.2 million, more than double the prior-year period, aided by revenue recognition tied to a Merck technology transfer agreement executed in Q4 2025. For the broader CDMO and enzyme-enabling supply chain, the offering indicates continued commercialization investment in manufacturing capabilities supporting next-generation biologics and RNA-based products.