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SENOMYX ANNOUNCES CORPORATE UPDATE AND SECOND QUARTER FINANCIAL RESULTS
Date:8/1/2013

te perception.  Activities include targeted analytical approaches to discover specific proteins that could be viable candidates for the receptors or co-factors responsible for salt taste.   The Company is currently focusing a greater effort on a smaller subset of taste bud proteins that includes potential lead candidates for the salt receptor, as well as candidates involved in signaling the sensory perception of saltiness.Intellectual Property:  Senomyx continues to be diligent in seeking protection for its intellectual property.  As of June 30, 2013, the Company is the owner or exclusive licensee of 394 issued patents and several hundred pending patent applications in the U.S., Europe, and elsewhere related to proprietary taste science technologies.Financial Review:At June 30, 2013, the Company held $37.5 million in cash, cash equivalents and investments available-for-sale.

Total revenues were $7.7 million for the quarter ended June 30, 2013, an increase from $6.9 million for the quarter ended June 30, 2012. Total revenues for the six months ended June 30, 2013 were $15.1 million compared to $15.2 million for the six months ended June 30, 2012.

Development revenues increased to $6.2 million in the second quarter of 2013 from $6.1 million in the second quarter of 2012.  Development revenues decreased to $12.2 million for the six months ended June 30, 2013 from $13.2 million for the six months ended June 30, 2012. This decrease for the six month period is primarily due to a $500,000 milestone earned in the first quarter of 2012 related to our Cooling Taste Program.  Also contributing to the decrease in development revenues for the six month period was a reduction in upfront license fee revenues recognized in 2013 compared to 2012 related to license payments under the 2009 Sweet Program collaboration with Firmenich.  There was no impact to cash flow as the license payments were received prior to 2012. 


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