SAN DIEGO, Aug. 1, 2013 /PRNewswire/ -- Senomyx, Inc. (NASDAQ: SNMX), a company using proprietary taste science technologies to discover, develop, and commercialize novel flavor ingredients for the food, beverage, and ingredient supply industries, today reported financial results for the second quarter 2013. The Company ended the second quarter with $37.5 million in cash and highly liquid investments.
"Senomyx is continuing to advance the implementation of our new direct sales strategy," stated Kent Snyder, Chief Executive Officer of the Company. "Our primary goal for the second quarter – to complete the hiring of key personnel for the initial commercial organization – has been achieved. We are very pleased to have new regional sales account managers who have strong track records in the flavor ingredients and packaged foods industries. In addition, Ken Simone, who has nearly 30 years of global supply chain, manufacturing, quality and product application experience, has joined Senomyx in the newly created position of Vice President, Supply Chain."
Kenneth Simone has held leadership positions at global food industry companies, including eight years at Firmenich in both their U.S. and Swiss headquarters, where he served as Vice President, Supply Chain Integration. He received a Bachelor of Engineering from Stevens Institute of Technology and a Master of Business Administration from Fairleigh Dickinson University.
"Ken has expertise in all aspects of supply chain management for food, beverage, and ingredient supply businesses," noted John Poyhonen, Senomyx's President and Chief Operating Officer. "Importantly, he spent the past 12 years focused on categories that are integral to Senomyx's direct sales: flavors, high potency sweeteners, and food ingredients. Ken has an
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