Dyadic International Inc. (DYAI:NASDAQ), doing business as Dyadic Applied BioSolutions, announced that it generated stable pools of C1 cell lines and produced and completed initial purification of two Scripps Research-designed recombinant protein antigens for Bundibugyo ebolavirus within about 15 days of receiving the required plasmids, according to a July 28 release.
The company said it has delivered both C1-produced antigens to FBS and Scripps Research for preclinical testing as part of efforts to develop a potential non-mRNA vaccine candidate against Bundibugyo ebolavirus in response to the ongoing outbreak.
Dyadic said the rapid turnaround is especially significant because of the severity and fast-moving nature of the current outbreak. There is currently no approved vaccine or treatment specifically targeting Ebola disease caused by the Bundibugyo virus.
According to Dyadic, the situation underscores the need for protein-production technologies capable of quickly generating vaccine antigens, monoclonal antibodies, and other biologic countermeasures while also providing the manufacturing capacity, scalability, cost efficiency, and accessibility needed to respond effectively to disease outbreaks.
"This is not simply about developing a protein quickly," said Dyadic Chief Executive Officer Mark Emalfarb. "It is about establishing a potentially faster, more productive, scalable, and affordable path for developing and manufacturing non-mRNA vaccines, monoclonal antibodies, and other biologics in the quantities needed to respond to active outbreaks and rapidly evolving health emergencies. When infections can spread faster than conventional countermeasures can be developed and produced, every week matters. Importantly, broader validation and adoption of C1 for infectious-disease vaccines and therapeutics could also help establish a pathway for its use in producing therapeutic proteins for oncology, immunology, and neurology. Success in infectious disease could therefore represent an important first step toward expanding C1 into some of the largest and most valuable areas of biologic medicine.”
Emalfarb continued, "Scale flexibility with C1 works in both directions. Production may be expanded to larger microbial bioreactors when substantial quantities or doses are required — or higher yields, greater productivity, and shorter bioreactor cycle times may allow manufacturers to produce more protein using a smaller biomanufacturing footprint. That can mean more batches, more protein, and more doses from the same manufacturing infrastructure — or potentially less of it. Because C1 is a fungal production system, it also does not require the mammalian or insect-cell viral-clearance steps typically associated with CHO and insect-cell manufacturing, potentially eliminating additional purification operations that can add time, complexity, and cost."
Co. Says Biologics Market Continues to Grow
The milestone provides additional validation for its proprietary C1 platform as a rapid protein-production technology with the potential to support future licensing opportunities, commercial manufacturing partnerships, and expanded biologics product development across multiple markets, Dyadic said.
The company also highlighted several externally funded collaborations involving FBS, the Coalition for Epidemic Preparedness Innovations (CEPI), the Gates Foundation, the European Vaccines Hub, and other international scientific organizations that are helping advance and validate the capabilities of its C1 protein-development and manufacturing platform.
The company said C1 has been used to produce both vaccine antigens and monoclonal antibodies and has demonstrated antibody titers exceeding 12 g/L within seven days. Those efforts include monoclonal antibody programs targeting respiratory syncytial virus and malaria that have been supported by a US$3.1 million Gates Foundation grant, which Dyadic said it has now received in full.
Dyadic noted that the global biologics market continues to grow, with industry forecasts generally calling for annual expansion in the high-single-digit-percentage range and even stronger growth for monoclonal antibodies. The company believes this trend creates meaningful opportunities for manufacturing platforms that can shorten development timelines, improve productivity, scale efficiently, and reduce production costs.
According to Dyadic, broader adoption of the C1 platform could transform biologics manufacturing, strengthen the commercial potential of vaccines, monoclonal antibodies, and other therapeutic proteins, and improve patient access in markets where manufacturing cost, production capacity, and development speed are critical factors.
Dyadic Applied BioSolutions said it is a global biotechnology company focused on developing and commercializing scalable, non-animal protein production platforms designed to meet increasing demand across the life sciences, food and nutrition, and bio-industrial sectors. The company said its proprietary Dapibus™ and C1 expression systems are intended to provide rapid, flexible, and cost-efficient protein manufacturing that enables customers to develop more scalable, sustainable, and efficient products.
Technical Analyst Paints Bullish Outlook for Company
1A July 14 review of the stock by Technical Analyst Stewart Thomson presented a bullish outlook for Dyadic, highlighting the biotechnology company's transition from a research-focused organization to a commercial manufacturer built around its proprietary C1 and Dapibus fungal protein-expression platforms. Thomson said Dyadic has established strategic partnerships across the human and animal health, food technology, cell culture media, and industrial enzyme markets. According to the analysis, a combination of new commercial agreements, the scalability of its technology, and renewed investor interest in small-cap biotechnology stocks could position the company for positive cash flow and a higher valuation. The report also stated that, as of July 2026, Dyadic appears to have successfully evolved into a commercial-stage biomanufacturer.
He described biotechnology as one of the market's strongest-performing sectors based on technical indicators, noting it remains in a sustained uptrend, with On Balance Volume (OBV) supporting continued strength. It also noted that biotechnology stocks have been outperforming the S&P 500, making the group increasingly attractive to institutional investors seeking sectors with relative strength.
According to Thomson's, Dyadic's commercial prospects have improved as the U.S. government shifts away from dependence on foreign mRNA supply chains, increasing demand for domestic, protein-based technologies such as the company's C1 platform. The analysis argued that successful commercialization of the C1 system could become the company's primary valuation driver because the platform offers faster development, efficient scale-up, higher production yields, and lower manufacturing costs than conventional mammalian or bacterial expression systems.
The report also pointed to Dyadic's expanding commercial relationships, saying the company has progressed beyond pilot projects into longer-term supply agreements. As an example, it cited the company's March 2 announcement that it plans to commercialize a recombinant non-animal bovine chymosin enzyme with Denmark-based Inzymes during 2026. According to the report, Dyadic received a US$200,000 milestone payment upon completing development work, advancing the product into commercialization for the multibillion-dollar dairy enzyme market. The analysis further described the C1 platform as having strategic national security value because it can be manufactured entirely within the United States, remains stable without ultra-cold storage requirements, and supports domestic production capabilities.
Thomson also highlighted analyst support for the stock. On May 14, 2026, Craig-Hallum analysts Matthew Hewitt and Tollef Kohrman reiterated their Buy rating and maintained a US$5 price target. They wrote, "We continue to believe the company's commercialization efforts are bearing fruit as it moves from early-stage development toward initial revenue generation, supported by a growing base of partnerships, distribution agreements, and product launches."
Dyadic Is Undervalued Next to Peers, Thomson Says
From a technical perspective, Thomson said Dyadic appears undervalued relative to its biotechnology peers, pointing to a potential base formation against the XBI Biotech ETF, and said technical indicators, including MACD and RSI, suggest the shares may outperform the broader biotech sector. The report also noted that institutional investors, including Vanguard, already own shares and suggested successful execution of the company's strategy could eventually result in inclusion in a biotechnology exchange-traded fund, potentially attracting additional institutional investment.
Thomson further stated that the stock has formed a double-bottom pattern on its daily chart with a technical objective of US$1.30, which it said could help strengthen the company's Nasdaq listing. It added that Stochastics, MACD, and the FORCE money flow indicator all generated constructive technical signals. On the weekly chart, the analysis identified a large bullish wedge pattern, projected a possible move toward US$2.60, and said rising OBV, along with bullish crossover signals from both Stochastics and MACD, supports the longer-term outlook.
The author said biotechnology continues to outperform the broader market while attracting institutional capital and attributed Dyadic's constructive technical picture in part to the successful commercialization of its C1 platform and said the federal government's growing interest in non-mRNA fungal-based technologies could provide an additional tailwind. He concluded that, with partnerships in place and much of the company's fixed-cost structure already established, additional revenue could significantly improve EBITDA margins during late 2026 and 2027.
At the time of writing on July 13, the stock was US$1 and assigned short-, medium-, and long-term technical price targets of US$1.30, US$1.90, and US$2.60, respectively, while maintaining a Speculative Buy rating.
The Catalyst: Ebola Outbreak in African Countries
As of the CDC's May 16 update, the agency is monitoring an Ebola disease outbreak in remote parts of the Democratic Republic of the Congo (DRC) and Uganda. No cases connected to this outbreak have been confirmed in the United States, and the CDC assesses the overall risk to the American public and to travelers as low.
The outbreak surfaced in early May, when a hospital in the Bunia Health Zone of northeastern DRC identified a cluster of severe illnesses among healthcare workers. Initial samples tested negative, but by May 15, eight of 13 samples came back positive, and five were inconclusive. Genetic fingerprinting identified the cause as Bundibugyo virus, one of the four types of orthoebolaviruses that cause Ebola disease in people. There is no vaccine for this particular virus, so care is limited to supportive treatment.
By May 16, the DRC had eight laboratory-confirmed cases alongside 246 suspected cases and 80 suspected deaths, a suspected death rate of about 32%, though those figures are expected to shift as the outbreak develops. Historically, Bundibugyo virus has carried death rates in the 25-50% percent range. Patients have shown classic Ebola symptoms, including fever, headache, vomiting, severe weakness, abdominal pain, nosebleeds, and vomiting blood. Most cases so far have been in people between 20 and 39 years old, and about two-thirds have been in women.
The outbreak has also crossed a border. A patient who traveled from the DRC to Uganda became ill and died, and on May 15, Uganda's Ministry of Health confirmed the death was caused by Ebola disease. One high-risk contact of that patient is in isolation, and no locally transmitted cases have been reported in Uganda so far.
Streetwise Ownership Overview*
Dyadic International Inc. (DYAI:NASDAQ)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 04/17/19 | DYAI:OTCQX | 1 | DYAI:NASDAQ | 1 |
The global Ebola vaccine market size was valued at US$790.74 million in 2024 and is projected to reach US$1.4 billion by 2032, with a CAGR of 7.58% during the forecast period of 2025 to 2032, according to Data Bridge Market Research.
"The Ebola vaccine market is experiencing significant growth due to ongoing innovations aimed at combating the deadly virus," the report said. "With advancements in vaccine development technologies, companies are exploring new platforms such as mRNA vaccines to enhance efficacy and speed up production. A notable trend is the increasing use of multi-dose vaccines, which offer broader protection against different strains of the virus. In addition, rising investments in global health initiatives and partnerships between governments and pharmaceutical companies are driving the market forward. The push for faster and more scalable vaccine production methods, particularly post-pandemic, is likely to boost market growth, as efforts to control potential outbreaks gain momentum."
Ownership and Share Structure2
About 16% of the company is held by insiders and management, about 15% by institutions, and about 9% by strategic investors. The rest is retail.
Its market cap is US$38.63 million with 36.44 million shares outstanding. It trades in a 52-week range of US$0.65 and US$1.60.
Common Investor Questions
What did Dyadic announce? Dyadic International, operating as Dyadic Applied BioSolutions, said it produced and purified two Scripps Research-designed recombinant protein antigens for Bundibugyo ebolavirus within about 15 days of receiving the required plasmids, according to a July 28 release.
What is Bundibugyo ebolavirus, and why does it matter right now? It's one of four orthoebolavirus species that cause Ebola disease in people. There's currently no approved vaccine or treatment specifically for it, and it's the strain behind an active outbreak in the Democratic Republic of the Congo and Uganda that the CDC has been tracking since mid-May 2026.
What did Dyadic actually deliver? Two C1-produced antigens, delivered to Fondazione Biotecnopolo di Siena (FBS) and Scripps Research for preclinical testing, as part of an effort to develop a potential non-mRNA vaccine candidate against Bundibugyo ebolavirus.
What is the C1 platform? C1 is Dyadic's proprietary Myceliophthora thermophila-based fungal protein-production platform, designed to develop and manufacture vaccines, monoclonal antibodies, and other recombinant proteins faster, at higher productivity, and potentially at substantially lower cost than traditional mammalian and insect-cell systems. Unlike CHO and insect-cell platforms, C1 grows rapidly, can produce greater quantities of protein in shorter manufacturing cycles and does not require certain viral-clearance steps commonly associated with those systems. These advantages could reduce development timelines, manufacturing complexity, facility requirements, and overall production costs — while increasing the number of doses that can be produced from existing biomanufacturing capacity. The platform has already demonstrated monoclonal antibody titers exceeding 12 grams per liter in just seven days — approximately half the production time of a conventional CHO antibody process. This combination of speed, yield, and manufacturing efficiency could become increasingly valuable as the global demand for biologics continues to grow. With broader validation, regulatory acceptance, and commercial adoption, C1 has the potential to help reshape biologics manufacturing by improving the economic viability of vaccines, monoclonal antibodies, and other therapeutic proteins. For Dyadic, successful adoption could create significant licensing, collaboration, and recurring revenue opportunities across multiple high-value markets. More importantly, by increasing manufacturing speed, capacity, and affordability, C1 could help expand access to potentially lifesaving biologics in regions where cost, production limitations, and supply constraints often determine whether treatments ever reach the patients who need them.
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Important Disclosures:
- Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Disclosure for the quote from the Stewart Thomson article published on July 14, 2026
- For the quoted article (published on July 14, 2026, Dyadic International Inc. has paid Street Smart, an affiliate of Streetwise Reports, US$4,000.
- Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
2. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
