IHS Chemical Week

People & Business :: Emerging Companies

Verenium reports first-quarter loss

3:31 PM MDT | May 9, 2013 | Rebecca Coons

Enzyme producer Verenium reported a net loss from operations of $3.8  million for its fiscal first quarter ended 31 March, compared with $32.1  million in the year-ago quarter. The year-ago quarter included a $31.3 million gain on the sale of Verenium’s oilseed processing business to DSM. Sales fell 20%, to $13.8 million, primarily due to 2 licensing deals signed in the year-ago quarter.  Combined product and contract manufacturing revenue increased 6%, to $12.4 million. Product revenue decreased 13%, to $10.2 million, primarily due to a...

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