IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Industrial Biotech

Solazyme's loss widens

3:15 PM MDT | May 8, 2013 | Rebecca Coons

Solazyme reported a GAAP net loss of $26.5 million for its fiscal first quarter ended 31 March, down from a net loss of $16.8 million in the prior-year period. On a non-GAAP basis, the net loss was $21.5 million, compared with a net loss of $12.8 million in the prior-year quarter. Sales fell 51%, to $6.7 million. The 2012 quarter included $5.5 million in government-funded revenues, Solazyme says. “We strengthened our financial position with over $250 million in new capital through a number of strategic initiatives including a successful convertible...

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