Increase in Total Revenue
Total revenue for the quarter ended March 31, 2025 increased to approximately $394,000 compared to $335,000 for the same period 1 year ago.
Major Collaboration and Grant Achievements
Dyadic secured a $4.5 million grant from CEPI and a $3 million program funded by the Gates Foundation, contributing to non-dilutive funding for vaccine and antibody development.
Commercialization of Non-Pharmaceutical Products
Focus on commercial-ready non-pharmaceutical products, including the expected launch of recombinant human serum albumin in Q3 2025 and ongoing development of other enzyme products.
Strategic Partnerships and Milestone Payments
Anticipation of achieving a third milestone payment related to productivity improvements in Q2 2025.
Cost Reduction
G&A expenses decreased by 10.8% to $1,596,000 compared to $1,789,000 for the same period a year ago.
Progress in Industrial Applications
Significant progress with enzyme systems that enhance process efficiency, including a large follow-on purchase order for EN3ZYME from Fermbox Bio.