Movers and SHAKERS
Dyadic International Inc. (DYAI)
Q3 2019: Continuing Expansion of C1 Technology Applications
Dyadic International Inc. is a biotechnology company developing a proprietary C1 expression platform to express and manufacture biologic products. The C1 technology is part of a fungi expression system, which utilizes inexpensive substrates yielding a high level of production. Dyadic is currently improving and optimizing the production of biological products in a C1 expression system. The company’s partnership portfolio with pharmaceutical and institutions includes the Zapi Project, Israel Institute for Biological Research, Mitsubishi Tanabe Pharma, Sanofi-Aventis covering the production of a diverse range of biologics, such as monoclonal antibodies, bispecific and Fc-fusion proteins. Dyadic also established a sub-licensing agreement with an Australian based drug development and contract manufacturing firm, Luina Bio, to utilize C1 platform for the development and commercialization of biological products to prevent and treat animal diseases. The company’s C1 bioenergy business was sold to Dupond Industrial Biosciences (DuPont) for $75 mm in 2015 granting the company the right to use the C1 platform in biopharma applications.
Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.
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- Multiple collaborations progressing towards validation of C1 technology. Dyadic continues to follow its business model by establishing research collaboration with large pharmaceuticals, institutions and biotechnology firms to validate C1 technology in biologics for human and animal health, in addition to the company’s own in-house efforts. Management continues to maintain costs in check with low cash-burn while increasing the probability of success of C1 technology’s potential in the biologics market. The company recently added animal health segment via partnerships to its current portfolio of human biotherapeutics including vaccines, biosimilars, metabolites, and viral vectors.
- Third Quarter Earnings Update. On November 13, the company reported $0.46 million in revenues, $0.9 million in R&D expenses and $1.1 million in G&A expenses. Net loss was $1.7 million, or ($0.06) per share. The reported numbers are in-line with our estimates. Therefore, we are maintaining our...
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*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.