Dyadic International, Inc. announced its third quarter 2024 financial results, reporting a total revenue of US$1.96 million. This represents a substantial increase of 393% compared to the same period in the prior year.
The significant revenue growth was primarily driven by Dapibus™ license fees and various milestone payments. These included a $1 million milestone payment for animal-free recombinant albumin products.
Additionally, the company received $425,000 in success fees for achieving production targets within a dairy enzyme collaboration. These achievements highlight the progress in Dyadic's alternative protein and pharmaceutical partnerships.
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