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CDXS

Codexis

$5.05

-0.1 (-1.94%)

16:40
08/08/17
08/08
16:40
08/08/17
16:40

Codexis obtains court order awarding judgment of EnzymeWorks patent case

Codexis on Tuesday secured a federal court order awarding it summary judgment on 10 claims of patent infringement it brought in a lawsuit against Suzhou, China-based EnzymeWorks, Inc. and its San Diego-based affiliate, also called EnzymeWorks, Inc. The court's order establishes EnzymeWorks' uncontested infringement of 10 of Codexis' patents and eliminates any need for a trial on those issues. The 10 Codexis patents cover dozens of engineered enzymes that have wide industrial applicability. In the lawsuit, filed in February 2016 in United States District Court for the Northern District of California in San Francisco, Codexis sued EnzymeWorks and EnzymeWorks founder Junhua "Alex" Tao for willful infringement of 10 biocatalysis patents and also for trade secret misappropriation, breach of contract, interference with business relationships and unfair competition. After nearly 18 months of legal process, EnzymeWorks never contested the infringement charges or challenged the validity of Codexis' patents. This set the stage for District Judge William H. Orrick awarding Codexis summary judgment of patent infringement. The court's order was based on a stipulation in which EnzymeWorks acknowledged that it "has not denied or disputed its infringement" of Codexis' 10 patents, or the validity of those patents. This partial summary judgment order in favor of Codexis is a key milestone in the lawsuit, but additional disputes remain to be resolved at a jury trial.

  • 09

    Aug

CDXS Codexis
$5.05

-0.1 (-1.94%)

01/04/17
LTCO
01/04/17
UPGRADE
Target $6.25
LTCO
Buy
Codexis upgraded to Buy from Neutral at Ladenburg
Ladenburg Thalmann analyst Kevin DeGeeter upgraded Codexis to Buy saying a potential CodeEvolver tech transfer agreement in 2017 offers upside to the shares. The analyst has a $6.25 price target for the name.
01/26/17
FANA
01/26/17
DOWNGRADE
Target $5.5
FANA
Equal-Weight
Codexis downgraded to Equal-Weight from Overweight at First Analysis
First Analysis analyst Steven Schwartz downgraded Codexis to Equal-Weight citing valuation. The stock's valuation multiple is high relative to peers and the company's historical level, Schwartz tells investors in a research note. He has a $5.50 price target for the shares.
05/31/17
JEFF
05/31/17
INITIATION
Target $8
JEFF
Buy
Codexis initiated with a Buy at Jefferies
Jefferies analyst Brandon Couillard started Codexis with a Buy rating and $8 price target. The company is an expert in protein engineering and custom enzymes used in commercial manufacturing, Couillard tells investors in a research note. He views Codexis as an "under-appreciated small-cap growth idea."

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