DYADIC INTERNATIONAL (DYAI) Company Report

On December 23, 2025, Dyadic International, Inc. entered into a Third Amendment to its Senior Secured Convertible Promissory Note due March 8, 2027.
The maturity date of the note has been extended from March 8, 2027, to December 31, 2027.
The conversion price for the convertible notes is now $1.05 per share of common stock.
Holders of the convertible notes no longer have the right to elect company redemption of the principal amount, except in the case of an Event of Default.

Dec 29, 2025, 9:00 PM

8-K

Dyadic and Fermbox Bio Expand Strategic Collaboration

DYAI

New Projects/Investments

Product Launch

Dyadic Applied BioSolutions (DYAI) has announced a significant expansion of its collaboration with Fermbox Bio to accelerate the commercialization of animal-free proteins and enzymes across life science, food & nutrition, and bioindustrial markets.
The expanded agreement enables Fermbox Bio to manufacture and commercialize an expanding portfolio of Dyadic-developed proteins and enzymes using both the Dapibus™ and C1 expression systems.
Key elements of the collaboration include dual-sourcing flexibility for production strains and finished products, the integration of Fermbox-developed products into the joint commercial portfolio, and a jointly managed, continuously updated product pipeline.
This partnership aims to broaden Dyadic's product portfolio and accelerate commercialization across various markets by combining Dyadic's microbial platforms with Fermbox's manufacturing infrastructure.

Dec 17, 2025, 12:20 PM

Press Release

Dyadic International Transitions to Commercial Revenue Generation

DYAI

Product Launch

Revenue Acceleration/Inflection

New Projects/Investments

Dyadic International, now operating as Dyadic Applied Biosolutions, is at a commercial inflection point, shifting its focus from R&D and therapeutic projects to commercial applications of animal-free recombinant protein solutions in the life sciences, food nutrition, and bio-industrial markets.
The company anticipates meaningful revenues to begin in the first and second quarters of 2026, with a goal to demonstrate revenue growth by the end of 2026.
Key product launches in 2025 include human albumin with Proliant, DNase I, and initial shipments of transferrin and bovine growth factors, contributing to this revenue acceleration.
Dyadic employs a "buy, brand, and build" monetization strategy, encompassing direct sales, licensing its C1 and Dapibus microbial platforms, and co-developing products with partners.
The company aims to reach cash flow positive financials with an approximate $12 million revenue run rate, noting an average annual burn of $4 million to $5 million.

Dec 9, 2025, 2:30 PM

Transcript

Dyadic Applied Biosolutions Shifts to Commercial Execution with Multiple Product Launches and Revenue Inflection Expected

DYAI

Product Launch

Revenue Acceleration/Inflection

New Projects/Investments

Dyadic Applied Biosolutions is undergoing a strategic shift from an R&D-focused company to commercial execution, prioritizing non-therapeutic applications to achieve near-term revenue, faster timelines, and lower regulatory thresholds.
The company leverages its C1 and Dapibus microbial platforms to produce scalable, animal-free recombinant protein solutions for the life sciences, food nutrition, and bio-industrial markets.
Dyadic anticipates a step change in commercial revenue starting in late 2025, with meaningful revenues expected in the first and second quarters of 2026 from multiple product launches and partnerships. Notable product launches include human albumin (with Proliant), DNase I, and human transferrin in 2025, following initial bulk purchase orders for growth factors in Q4 2025.
The company aims to reach cash flow positive financials with an approximate $12 million revenue run rate, driven by a "buy, brand, and build" monetization strategy across its three strategic growth verticals.

Dec 9, 2025, 2:30 PM

Transcript

Dyadic International Announces Commercial Inflection Point and Multiple Product Launches

DYAI

Product Launch

Revenue Acceleration/Inflection

New Projects/Investments

Dyadic International is at a commercial inflection point, transitioning from R&D and therapeutic projects to commercial applications of animal-free recombinant protein solutions in life sciences, food nutrition, and bio-industrial markets.
The company anticipates multiple product launches and revenue generation through direct sales and partner channels starting in 2025 and continuing into 2026 and 2027.
Key commercial activities in 2025 include the launch of human albumin with Proliant, DNase I, and initial shipments of human transferrin and bovine growth factors, with meaningful revenues expected in the first and second quarters of 2026.
Dyadic aims to achieve cash flow positive financials with an approximate $12 million revenue run rate, noting that this target could be lower if higher margins are achieved from life science products.

Dec 9, 2025, 2:30 PM

Transcript

Dyadic International Reports Q3 2025 Financial Results and Commercial Milestones

DYAI

Earnings

Product Launch

New Projects/Investments

For Q3 2025, Dyadic International reported total revenues of $1,165,000 and a net loss of $1,976,000, with $10,400,000 in cash and equivalents as of September 30, 2025.
The company achieved its first commercial bulk sale of a Dyadic-produced protein (recombinant bovine fibroblast growth factor) into the cultivated meat market at the start of Q4 2025, marking a significant step in its transformation into a commercially focused biotechnology company.
Dyadic strengthened its technology foundation by licensing CRISPR Cas9 gene editing capabilities from ERS Genomics and expanded its global commercial reach by partnering with Intralink for market penetration in Japan and South Korea.
Several products, including animal-free transferrin and DNase one, are in active manufacturing and sampling for commercial launch, with the recombinant human albumin program targeting a commercial launch in early 2026. The company expects product revenue growth in life sciences and food and nutrition markets for the remainder of 2025.

Nov 12, 2025, 10:00 PM

Transcript

Dyadic International Reports Q3 2025 Financial Results and Commercial Milestones

DYAI

Earnings

Product Launch

New Projects/Investments

Dyadic International reported total revenues of $1,165,000 for Q3 2025, a decrease from the prior year, and an increased net loss of $1,976,000, or $0.06 per share.
The company's cash and equivalents stood at $10.4 million as of September 30, 2025, following net proceeds of approximately $4.9 million from a public offering closed on August 1, 2025.
Dyadic achieved its first commercial bulk sale of a Dyadic-produced protein (recombinant bovine fibroblast growth factor) in October, marking its transition to a commercially focused biotechnology company.
Key product developments include the advancement of the recombinant human albumin program with Proliant for a commercial launch in early 2026, and active manufacturing and sampling for animal-free transferrin and DNase I.
The company also licensed CRISPR-Cas9 gene editing capabilities from ERS Genomics to accelerate product development and optimize yields.

Nov 12, 2025, 10:00 PM

Transcript

Dyadic International Announces Q3 2025 Financial Results and Strategic Pivot

DYAI

Earnings

New Projects/Investments

Dyadic International, Inc. reported a net loss of $1,976,000, or $(0.06) per share, for the third quarter ended September 30, 2025, compared to a net loss of $203,000, or $(0.01) per share, for the same period a year ago.
Total revenue for the three months ended September 30, 2025, decreased to $1,165,000 from $1,958,000 in the prior year period, primarily due to decreases in research and development revenue and license and milestone revenue, partially offset by an increase in grant revenue.
As of September 30, 2025, the company's cash, cash equivalents, restricted cash, and investment-grade securities totaled approximately $10.4 million, an increase from $9.3 million as of December 31, 2024.
Dyadic completed a strategic pivot from an R&D focus to a commercial focus, rebranded as Dyadic Applied BioSolutions, and secured an ERS Genomics CRISPR license to optimize production and product performance.
The company strengthened its liquidity by completing an equity offering on August 1, 2025, which generated approximately $4.9 million in net proceeds for working capital and general corporate purposes.

Nov 12, 2025, 9:08 PM

8-K

Dyadic International Reports Q3 2025 Financial Results and Strategic Pivot

DYAI

Earnings

New Projects/Investments

Dyadic International reported a net loss of $1,976,000 or $(0.06) per share for the third quarter of 2025, compared to a net loss of $203,000 or $(0.01) per share for the same period a year ago.
Total revenue for Q3 2025 decreased to $1,165,000 from $1,958,000 in the prior year period, primarily due to decreases in research and development and license/milestone revenue, partially offset by an increase in grant revenue.
The company strengthened its liquidity, with cash, cash equivalents, restricted cash, and investment-grade securities totaling $10.4 million as of September 30, 2025, following an equity offering in August 2025 that generated approximately $4.9 million in net proceeds.
Dyadic completed a strategic pivot from an R&D to a commercial focus, rebranding as Dyadic Applied BioSolutions, and secured an ERS Genomics CRISPR license to optimize production.
The company achieved key commercial milestones, including receiving its first purchase order in cell culture media and molecular biology reagent segments, and initial purchase orders for recombinant Fibroblast Growth Factor (FGF) in the cultured meat segment in October 2025.

Nov 12, 2025, 9:05 PM

Press Release

Dyadic Achieves Milestones and Regains Nasdaq Compliance

DYAI

New Projects/Investments

Delisting/Listing Issues

Dyadic Applied BioSolutions announced milestone achievements in Q3 2025, including a $500,000 payment anticipated in Q4 2025 from its Proliant Health & Biologicals partnership for Recombinant Human Albumin, and a $250,000 payment received from its Inzymes ApS partnership for non-animal dairy enzymes.
The company regained compliance with Nasdaq's minimum market value and minimum bid price requirements in early October 2025, with the previously issued deficiency notices now closed.
Dyadic's President and COO, Joe Hazelton, stated the company is advancing its transition to a commercially focused, revenue-driven company, with commercial launches for key products targeted for late 2025 and early 2026.