Dyadic International, Inc. (NASDAQ: DYAI) Announces 2025 Financial Results and Major Corporate Developments

Date: March 25, 2026
Location: Jupiter, Florida

Key Highlights and Recent Achievements

• Commercial Launch & Profit Participation: Proliant Health & Biologicals launched AlbuFree™ DX, a recombinant human albumin produced on Dyadic’s platform, with Dyadic eligible to receive a share of profits from sales.
• Expanded Strategic Collaboration: Dyadic deepened its partnership with Fermbox Bio, leading to the launch of animal-origin-free recombinant DNase I (RNase-free)—the first product commercialized under the new agreement.
• OEM Distribution Agreement: Dyadic signed a global OEM distribution deal with IBT Bioservices for recombinant DNase I and transferrin, targeting research and cell culture applications.
• Development and Commercialization Agreement: Dyadic entered a deal with BRIG Bio to produce animal-free bovine alpha-lactalbumin for global nutrition markets, including funded development, milestones, and potential revenue participation.
• Milestone Achievements: Inzymes will commercialize recombinant non-animal bovine chymosin in 2026, having met development milestones and made an additional payment to Dyadic.
• Cash Position: As of December 31, 2025, Dyadic reported cash, cash equivalents, restricted cash, and investment-grade securities totaling \$8.6 million, down from \$9.3 million a year earlier.

Corporate Strategy and Market Expansion

Dyadic continues its transition to a commercially driven organization, expanding market access, launching new products, and broadening its partner network across life sciences, food and nutrition, and bioindustrial sectors. President and COO Joe Hazelton emphasized the company’s commitment to accelerating commercialization and generating recurring revenue streams through its proprietary microbial production platforms.

Detailed Company Developments

Life Sciences Segment

• AlbuFree™ DX Launch: In February 2026, Proliant Health and Biologicals began commercial sales of AlbuFree™ DX recombinant human albumin, produced using Dyadic’s platform. Dyadic is entitled to profit-sharing from these sales.
• OEM Distribution (IBT Bioservices): A global distribution agreement signed in March 2026 covers recombinant DNase I and transferrin.
• DNase-1 (RNase-free) Validation: Production validation completed, and commercial launch with Fermbox Bio in March 2026.
• Transferrin & Growth Factors: Ongoing development of animal-free transferrin and fibroblast growth factor (FGF) for cell culture media, diagnostics, and research.
• Nucleic Acid Enzymes: Advancing a portfolio including RNase inhibitors and T7 RNA polymerase.

Food and Nutrition Segment

• Alpha-Lactalbumin: Agreement with BRIG Bio in December 2025 for global nutrition markets.
• Human Lactoferrin: Stable cell line established, with ongoing optimization and characterization for future nutrition uses.
• Non-Animal Dairy Enzymes: Partner Inzymes plans launch of recombinant non-animal bovine chymosin in 2026, following milestone achievements.
• Pipeline Expansion: Anticipated broadening of partner-led and internal programs targeting non-animal dairy proteins and enzymes for food, baking, and brewing applications.

Bio-Industrial Segment

• Fermbox Bio Collaboration: Expanded to develop and manufacture animal-free recombinant proteins and enzymes across multiple verticals.
• EN3ZYME™ Platform: Fermbox Bio launched an enzyme cocktail using Dyadic’s Dapibus™ platform to convert agricultural residues into fermentable cellulosic sugars, with first large-scale orders fulfilled and sampling expanding in Asia Pacific.

Biopharmaceutical Programs

• C1 Platform Access: Dyadic is advancing collaborations with global health organizations, academia, and industry for vaccine and monoclonal antibody development, generating non-dilutive funding and supporting potential pharmaceutical products.
• Gates Foundation Grant: Dyadic received ~\$2.4 million of a \$3.1 million grant for low-cost monoclonal antibody development (RSV, malaria), with early data showing comparability to CHO-derived antibodies.
• CEPI / FBS Program: Dyadic participates in a \$4.5 million CEPI-funded program with eligibility for up to \$2.4 million, advancing recombinant vaccine development including H5 antigen preclinical evaluation.
• Other Government/Partner Programs: Dyadic is involved in several early-to-mid stage programs, including NIAID/NIH malaria vaccine candidates, Scripps Research Institute (RSV, hMPV, PIV3), AdaptVac (CEPI-supported filovirus vaccine), European Vaccines Hub (€170 million pandemic preparedness initiative), Uvax Bio (MERS vaccine antigen), and Rabian (EUROSTARS RABIVA rabies vaccine program).

Corporate Development

• CRISPR License Agreement: Non-exclusive CRISPR/Cas9 license from ERS Genomics to expand genetic engineering capabilities and accelerate strain optimization.
• Rebranding: Dyadic rebranded as Dyadic Applied BioSolutions and launched a new corporate website to bolster product commercialization and customer engagement.
• Asia Expansion: Engaged Intralink to support commercial development in Japan and South Korea.
• Peer-Reviewed Publication: Successful production of SARS-CoV-2 spike protein using Dyadic’s C1 platform reported in Vaccine (October 24, 2025).

Financial Performance: 2025 vs. 2024

Balance Sheet Overview

• Total Assets: \$9,945,725 (2025), \$9,930,275 (2024)
• Total Liabilities: \$8,713,315 (2025), \$7,459,985 (2024)
• Total Stockholders’ Equity: \$1,232,410 (2025), \$2,470,290 (2024)

Conference Call Details

Date & Time: March 25, 2026, 5:00 p.m. ET
Dial-in: +1-877-407-9219 / +1 412-652-1274
Conference ID: 13758915
Webcast: Click here

Potential Shareholder Impact & Price Sensitivity

• Commercialization Progress: Multiple new product launches and agreements indicate Dyadic is successfully transitioning from R&D to revenue-generating commercial operations, potentially improving long-term valuation.
• Profit Participation: Direct profit-sharing from partners (Proliant, Inzymes) could provide recurring revenue streams.
• Expanded Partnerships: Strategic collaborations (Fermbox, BRIG Bio, IBT Bioservices) open Dyadic to broader markets in life sciences, food/nutrition, and bio-industrial sectors.
• Cash Position: Adequate liquidity (\$8.6 million) but declining cash reserves and increased net loss may raise concerns about future funding needs.
• Grant Funding: Substantial grant income (Gates Foundation, CEPI) supports continued innovation with less dilution risk.
• Asia Market Entry: Expansion efforts in Japan and South Korea could unlock new commercial opportunities.
• Losses & Reduced License Revenue: Net losses increased year-over-year, and license/milestone revenue declined sharply. Investors should monitor burn rate and commercialization pace.
• Balance Sheet: Lower equity and higher liabilities may affect future financing options and share valuation.

About Dyadic Applied BioSolutions

Dyadic Applied BioSolutions is a biotechnology company specializing in precision-engineered, animal-free proteins and enzymes for diverse commercial applications. Its proprietary Dapibus™ and C1 expression systems enable partners in life sciences, nutrition, and bio-industrial sectors to develop scalable and sustainable products.

Disclaimer

Forward-Looking Statements: This article contains forward-looking statements based on Dyadic’s press release. Actual results may differ due to risks including, but not limited to, commercialization challenges, regulatory acceptance, competitive pressures, funding needs, and other uncertainties. Investors should review Dyadic’s filings with the SEC for a complete list of risk factors. This article is for informational purposes only and does not constitute investment advice or an offer to purchase securities.

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