Dyadic International, Inc. announced its financial results for the full year ended December 31, 2024, reporting total revenue of approximately $3.495 million. This marks an increase from $2.899 million reported for the year ended December 31, 2023.
The revenue growth was primarily driven by $1.0 million in license revenue from Proliant and approximately $890,000 from Inzymes ApS, including success fees. The company also reported a decrease in research and development expenses to approximately $2.044 million, down from $3.297 million in 2023, largely due to the completion of its Phase 1 clinical trial for the DYAI-100 COVID-19 vaccine candidate.
The net loss for the full year 2024 decreased to approximately $5.809 million, or $(0.20) per share, compared to a net loss of $6.795 million, or $(0.24) per share, for the prior year. As of December 31, 2024, cash, cash equivalents, and investment-grade securities totaled approximately $9.288 million, an increase from $7.273 million at the end of 2023.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.