Dyadic International Inc (DYAI)

[tykundegex]

Thanks. I listened again, and here was my take-away:

On commercialization:
C1 is a platform technology, not "cure cancer or go broke"
dozens even hundreds of shots on goal
addresses multiple industries: therapeutic proteins, vaccines, metabolites, potentially viral vectors, etc

On balance sheet:
41.5MM in cash, no debt
8-10MM burn if zero revenue
a single license agreement likely enough to be profitable
in 2020 expect to have one or more license deals
so years of runway, no need to raise funds

"unlimited potential valuation"
"one of the safest bets on the street"
CEO spent $6MM of own profits from DuPont sale to buy back shares

On reaching profitability:
in the past and industrial deals lead them to $10MM (Shell), $6MM (BASF), $15MM (Abengoa))
"expect much bigger up-front fees in pharma that with industrial"

On becoming a CDMO:
Yes, would consider if the time & conditions were right.
Thermo Fisher bought CDMO Patheon for $5bn (using single-use reactors and using vastly inferior CHO platform)
"If we can demonstrate that C1 can produce human-like proteins in high-quality and low cost, the sky is the limit"