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SENOMYX ANNOUNCES CORPORATE UPDATE AND SECOND QUARTER 2014 FINANCIAL RESULTS
Date:7/31/2014

ste Program, as research funding under the Company's collaboration with Firmenich expired in June 2013.

Commercial revenues were $1.4 million for the second quarter of 2014 and $1.5 million for the second quarter of 2013.  Commercial revenues were $2.9 million for each of the six months ended June 30, 2014 and 2013. These results reflect non-recurring revenues in the second quarter of 2013 related to a Savory Taste Program collaboration, as well as direct sales and increases in other commercial revenues from the Savory and the Sweet Taste Programs in the first half of 2014.

Research, development and patents expenses, including stock-based compensation expenses, decreased to $6.6 million for the second quarter of 2014 from $7.0 million in the second quarter of 2013.  For the six month periods ended June 30, research, development and patents expenses decreased to $13.6 million in 2014 from $14.3 million in 2013.  The primary factor for the decreases from 2013 to 2014 was reduced outside services costs for safety studies to support regulatory filings.

Selling, general and administrative expenses, including stock-based compensation expenses, were $3.3 million for the second quarter of 2014 and $2.9 million for the second quarter of 2013.  Selling, general and administrative expenses for the six months ended June 30, 2014 were $6.4 million compared to $6.0 million for the six months ended June 30, 2013.  The increases from 2013 to 2014 were primarily due to increased non-cash stock-based compensation expenses in 2014 resulting from a higher fair value for stock options granted in 2014 based on the higher price of Senomyx's common stock.

The net loss for each of the quarters ended June 30, 2014 and 2013 was $0.06 per share.  The net loss for the six months ended June 30, 2014 was $0.11 per share compared to $0.13 per share for the six months ended June 30, 2013.

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SOURCE Senomyx, Inc.
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