Dyadic International Inc. ( (DYAI) ) has released its Q3 earnings. Here is a breakdown of the information Dyadic International Inc. presented to its investors.
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Dyadic International, Inc. is a biotechnology company specializing in the large-scale production of proteins for vaccines, therapeutics, and various non-pharmaceutical applications, leveraging its proprietary microbial platforms.
In its third quarter of 2024, Dyadic reported significant financial growth and strategic advancements, primarily driven by its Dapibus™ and C1 technology platforms. The company highlighted increases in revenue and expanded partnerships in both alternative protein and pharmaceutical sectors.
Financially, Dyadic achieved a substantial increase in revenue, reaching approximately $1.96 million for the quarter, compared to $397,000 in the same period last year. This growth was largely attributed to milestone payments and licensing fees. The company also reported a decrease in net loss to $203,000 from $1.6 million, showcasing improved operational efficiency and strategic collaborations. Dyadic’s cash position strengthened with approximately $10 million in cash and investment-grade securities.
Strategically, Dyadic made notable progress in expanding its product portfolio in alternative proteins and forming collaborations in human health. Key developments include the co-development of a monkeypox antigen and collaborations targeting diseases like HIV and RSV. The company’s advancements in producing recombinant proteins for various applications underscore its commitment to innovation and market expansion.
Looking forward, Dyadic aims to continue leveraging its innovative platforms for sustained revenue growth and market penetration in both human and animal health sectors, while maintaining strong partnerships and financial stability.
