Dyadic Q3 revenue falls on lower grant activity

Overview

• US biotechnology firm's Q3 revenue fell 61% yr/yr as grant and R&D revenue declined

• Company's Q3 net loss narrowed from prior year, helped by lower costs and non-cash gain

• Dyadic recorded first direct commercial product sales in Q3, though amounts were not material

Outlook

• Company is emphasizing larger strategic partnerships and licensing to accelerate commercialization

• Dyadic continues to evaluate financing alternatives to strengthen its balance sheet

Result Drivers

• GRANT AND R&D REVENUE DECLINE - Co said Q3 revenue decrease was driven by lower grant activity and completion of prior collaboration projects

• FIRST DIRECT PRODUCT SALES - Co recorded its first direct commercial product sales in Q3, though amounts were not material

• PARTNER-LED COMMERCIALIZATION - Co cited momentum from partners expanding promotion and commercialization of products using its platforms

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Dyadic International Inc is $5.50, about 1,317.5% above its November 11 closing price of $0.39

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)