REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Codexis Inc. (CDXS) on Thursday reported a loss of $20.6 million in its third quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of 29 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The producer of custom industrial enzymes posted revenue of $12.8 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $11.6 million.
In the final minutes of trading on Thursday, the company's shares hit $3.14. A year ago, they were trading at $1.66.