Form 4: Opaleye Management Increases Stake in Codexis, Acquiring Additional Shares

Opaleye Management Inc., a 10% owner of Codexis, Inc., acquired an additional 100,000 shares of common stock at $2.39 per share, increasing its total indirect beneficial ownership to 12,600,000 shares.

Summary

• Opaleye Management Inc. reported a transaction involving Codexis, Inc. common stock.
• The transaction occurred on June 27, 2025.
• Opaleye Management Inc. acquired 100,000 shares of common stock.
• The acquisition price was $2.39 per share.
• Following this transaction, Opaleye Management Inc. indirectly beneficially owns a total of 12,600,000 shares of Codexis, Inc. common stock.
• This total includes 12,350,000 shares owned by Opaleye, L.P. and 250,000 shares owned by a separately managed account.
• Opaleye Management Inc. disclaims beneficial ownership of the shares except to the extent of its pecuniary interest.

Sentiment

Score: 8

Explanation: The acquisition of additional shares by a 10% owner indicates strong confidence in the company's prospects, which is a positive signal for investors.

Positives

• A significant 10% owner, Opaleye Management Inc., increased its stake in Codexis, Inc. by acquiring 100,000 shares.
• This purchase signals confidence from a major investor in the company's future prospects.

Negatives

• No explicit negatives are present in this Form 4 filing.

Risks

• No specific risks are detailed in this Form 4 filing, as it primarily reports an insider transaction.

Future Outlook

This Form 4 filing does not provide any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

This Form 4 filing reports an insider transaction by a significant shareholder and does not provide broader industry context or trends. It reflects a specific investment decision by Opaleye Management Inc. regarding Codexis, Inc.

Comparison to Industry Standards

• This document reports a specific insider transaction and does not contain information suitable for comparison to global benchmarks, comparable companies, projects, or results.

Related Party Transactions

• The reported transaction is an acquisition of common stock by Opaleye Management Inc., a 10% owner and investment manager of Codexis, Inc., which constitutes a related party transaction under SEC regulations.

Stakeholder Impact

• Shareholders: The purchase by a significant owner may instill confidence among existing and potential shareholders, potentially influencing stock price positively due to perceived insider confidence.

Next Steps

• This Form 4 filing does not outline any specific future actions, events, or milestones for the company or the reporting person beyond the reported transaction.

Key Dates

Recommendation

Keywords

SEC Form 4, Insider Purchase, Beneficial Ownership, CDXS, Codexis, Opaleye Management, Stock Acquisition, 10% Owner, Equity Investment