Dyadic International Inc (DYAI)

[tykundegex]

I hesitated to move some of my DYAI into PFNX, but never pulled the trigger. At just twice the valuation they have considerable commercial traction and are seeing strong milestone payments already. I can see both Dyadic and Pfenex as attractive acquisitions. Dyadic's C1 platform should ultimately be more valuable, but is likely a longer hold IMO.

Does anyone have a sense of what the milestone and royalty potential is from the already signed deals? If Serum were to use C1 for just 1 or 2 of the 12 antibodies they are targeting, what might that mean to Dyadic? We only have the past industrial deals to compare yet Mark has hinted that the pharma space would command higher milestones and royalties.