Wednesday, April 1, 2020

Dyadic International Inc. (DYAI)

Q4 2019: Constructive 2019 Leading to a Promising Year Ahead

Dyadic International, Inc. is a global biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical gene expression platform based on the industrially proven hyper productive engineered fungus Thermothelomyces heterothallica (formerly Myceliophthora thermophila), named C1.
The C1 microorganism, which enables the development and large scale manufacture of low cost proteins, has the potential to be further developed into a safe and efficient expression system that may help speed up the development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales. Dyadic is using the C1 technology and other technologies to conduct research, development and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles (VLPs) and antigens, monoclonal antibodies, Fab antibody fragments, Fc-Fusion proteins, biosimilars and/or biobetters, and other therapeutic proteins. Dyadic pursues research and development collaborations, licensing arrangements and other commercial opportunities with its partners and collaborators to leverage the value and benefits of these technologies in development and manufacture of biopharmaceuticals. In particular, as the aging population grows in developed and undeveloped countries, Dyadic believes the C1 technology may help bring biologic vaccines, drugs and other biologic products to market faster, in greater volumes, at lower cost, and with new properties to drug developers and manufacturers, and improve access and cost to patients and the healthcare system, but most importantly save lives.

Ahu Demir, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2019 financial results were in line with expectations. Dyadic International Inc. (DYAI) released the full year of 2019 financial and operational results. The company reported $10.1 million in total expenses. The net loss was $8.3 million or $0.31 per share compared to a net loss of $5.7 million or $0.21 per share in 2018. Our F2019 estimates were for a net loss of $8.8 million and EPS of ($0.31). For F2020 and F2021, we forecast revenue of $1.8 mm, and $1.9 mm, and EPS of ($0.32) and ($0.34), respectively.

Not a month passes without adding another partnership to the pipeline. Dyadic’s business development flow continues by establishing research collaboration with large pharmaceuticals, institutions and biotechnology firms to validate C1 technology in biologics for human and animal health. The company has maintained a low cash-burn while increasing the probability of success of C1 technology’s potential in...

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report.  NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.