Codexis Inc

CDXS remains in a Stage 4 decline with a clear medium-term bearish bias and neutral short-term timing due to extreme oversold conditions. Execution posture is to trim into strength near intermediate resistance defined by the short-term EMAs.

• ↑Q1 2026 revenues $15.2M (+102.7% YoY) driven by Merck agreement
• ↑Product gross margin rose to 71% in Q1 from 55% last year
• ↓Q1 net loss narrowed to $8.7M vs $20.7M prior year, profitability elusive