Friday, August 14, 2020
Dyadic International Inc. (DYAI)
Q2 EPS: Making Progress with C1 Technology
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, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.
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Q2 earnings reported. Dyadic announced Q2 2020 earnings results yesterday. In the second quarter, research and development (R&D) revenue was $524,000, increased 66% compared to the previous quarter, attributed to the new research collaborations. R&D expenses were $1.81 million and general and administrative expenses were $1.48 million in the quarter. The net loss was $2.65 million or $0.10 per share. Our estimates are in line with the reported numbers. We are maintaining our F2020 estimates of $1.77 million revenue and $11.6 million operating expenses including $5.8 million R&D and $5.8 million SG&A expenses. We forecast ($0.32) EPS.
Multiple milestones achieved in the quarter. Dyadic established multiple research collaborations with companies and institutions to develop vaccine and antibody to combat coronavirus. The partners include Frederick National Laboratory, Israel Institute for Biologic Research (IIBR), EU ZAPI initiative, Ufovax, and others. The company also …
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