REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Codexis Inc. (CDXS) on Wednesday reported a loss of $20.7 million in its first quarter.
The Redwood City, California-based company said it had a loss of 25 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The producer of custom industrial enzymes posted revenue of $7.5 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $10.6 million.
Codexis expects full-year revenue in the range of $64 million to $68 million.
In the final minutes of trading on Wednesday, the company’s shares hit $2.47. A year ago, they were trading at $3.65.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDXS at https://www.zacks.com/ap/CDXS
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