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DYAI recently uplisted from OTC to NASDAQ recently and rung the closing bell today.

They have a new paradigm in manufacture of biologics, vaccines, and proteins using a specialized, patented strain of fungi.

This seems to be a good summary of the technology:

Anyone following this stock and have thoughts?

I was turned onto this by who wrote it up in March or earlier, just ahead of the uplisting is when I first read about it
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Hey 2k10,

The good: current mammalian expression systems are expensive and inefficient.

The ugly:

. The CEO is a journalism major with a checkered past. His pay equal to annual revenues.
. Prior to becoming CEO, he was in the pumice industry inventing better stonewash products.
. Six employees and five of these are executives. In other words, they are a virtual company.
. I would speculate that they “discovered” the C1 system from work an off-shore post-doc did.
. None of the executives appear to be scientists, and the website doesn’t list board composition nor scientific advisory board.
. While they tout all of the current biologics as candidates for the C1 system, nobody is going to switch midstream.
. There are hundreds of mycologists working on mammalian protein expression.

Not for me.

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Cosmid -- the pumice part is true -- from the 1980's. They call it the 'Jeans to Genes' story.

Started with pumice for stonewashed jeans (1980's), replaced by enzymes, and that's when they discovered and started developing the C1 platform and transformed the company.

In 2015 they sold rights/assets to the industrial side of the business that uses same/similar approach.

On December 31, 2015 Dyadic sold substantially all the assets of its Industrial Technology business to DuPont’s Industrial Biosciences business for US$75 million in cash. Following completion of the transaction, Dyadic intends to focus exclusively on its biopharmaceutical business. DuPont has granted back to Dyadic co-exclusive rights to the C1 technology for use in human and animal pharmaceutical applications, with exclusive ability to enter into sub-license agreements in that field.

So that's the color of the story. Selling the surer thing (industrial revenues) and working to build new pharma revenues may be why management might be taking hefty salaries.

I have not looked at staff levels but business model does seem built to focus on partnerships and licensing the technology. e.g. recent announced partnership with one of world's largest vaccine companies:

Thanks for giving me some more to look into in terms of leadership, scientific advisors, etc. If I find something of note there I'll report it back to the board.
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Hey 2K,

While you are looking, I would suggest digging into publication on the C1 system. None listed on their site. Not implying it is invalid, but what have they done to evaluate, for example, fidelity of post-translational modification of the proteins? Are they glycosylated correctly? A fucose here and galactose there and pretty soon you are staring affinity in the face ;-) I can assure you that they are not doing this in-house.

Also, 1% insider ownership is worrisome, especially given what salary the CEO is pulling

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Appreciate the skepticism here for DYAI but I have held/added.

There was a minor hope/hype they would help produce COVID vaccines in collaboration with Isreal but haven't heard much on that front lately. COVID Vaccines are a crowded space and probably too big a lift to get a first-in-humans technology for vaccine rushed out to millions of healthy people.

Anyway, positive news on collaborations trickles out from time to time. A new collaboration with Chinese pharma company announced today.

Usually with DYAI these collaborations are fully funded but nothing on funding was announced today.

Cosmid -- not sure where you see 1% inside ownership. The story I've heard is large inside ownership. e.g. here 'With a 29% stake, CEO Mark Emalfarb is the largest shareholder.'
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Cosmid -- not sure where you see 1% inside ownership

Sorry, don't recall where I found it back in June. I almost always use SEC Form 3 and 4 filings. I can assure you it was NOT Yahoo ;-)

good luck

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Okay thanks I don't really know the ins and outs of checking SEC forms for definitive data but I did google and found a 13G for Marc Elmafarb with 7 million shares (22.8%) of company beneficially owned.

I think family members have smaller stakes - I heard rounding up to about 30% total family ownership - so maybe you saw one of their schedules.

Obviously this is a very speculative stock and I have not deeply researched it so appreciate skepticism and forcing me to verify some of my assumptions or things I've taken at face value.
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