Why Codexis Stock Is Sliding Afterhours - Codexis (NASDAQ:CDXS)

Codexis, Inc. CDXS has appointed Dr. Stephen Dilly, Board member, and biotechnology veteran, as President and CEO, effective August 9, 2022.
After ten years of leading the transformation and growth of Codexis, the current President and CEO, John Nicols, will step down for personal reasons.
Mr. Nicols will remain on Codexis' Board through the annual meeting in June 2023 and will assume a new multi-year role as Strategic Advisor to provide ongoing support to the company.
Most recently, Dr. Stephen Dilly served as President and CEO of Sierra Oncology through its recent sale to GlaxoSmithKline GSK for $1.9 billion.
Previously, he served as CEO of Aimmune Therapeutics, acquired by Nestle Health Science for $2.6 billion. He holds an MBBS and a Ph.D. in Cardiac Physiology from the University of London.
Recently,
Last week, Codexis released the preliminary revenue expectations for Q2, which were lower than the prior guidance.
Price Action: CDXS shares are trading lower by 2.79% at $6.62 during the post-market session on Monday.