SENOMYX ANNOUNCES CORPORATE UPDATE AND THIRD QUARTER 2009 FINANCI...(gust 2007. The upfront payment was reco...)

Date:11/5/2009

gust 2007. The upfront payment was recognized as revenue ratably over the nine month period from August 2007 through April 2008, with $3.6 million recognized as revenue through the third quarter of 2008 and none recognized as revenue through the third quarter of 2009. This decrease from 2008 to 2009 was partially offset by higher revenue in 2009 related to the Company's July 2009 Sweet Enhancer collaboration with Firmenich.

Research and development expenses, including non-cash stock-based compensation expense, were $7.0 million for the third quarter of 2009, compared to $7.7 million for the third quarter of 2008, a decrease of 9%. This decrease was primarily due to lower patent legal expenses associated with timing of patent prosecution of the Company's intellectual property portfolio. Also contributing to this decrease were lower expenditures for research supplies, partially offset by increased personnel expenses. Research and development expenses, including non-cash stock-based compensation expense, were $22.4 million for the nine months ended September 30, 2009, compared to $23.9 million for the nine months ended September 30, 2008, a decrease of 6%. This decrease was primarily due to lower patent legal expenses associated with timing of patent prosecution of the Company's intellectual property portfolio. Also contributing to this decrease were lower non-cash stock-based compensation expenses and lower expenditures for research supplies, partially offset by higher expenses attributable to activities in support of product candidate regulatory filings.

General and administrative expenses, including non-cash stock-based compensation expense, were $3.5 million for the third quarter of 2009, compared to $3.1 million for the third quarter of 2008, an increase of 13%. The increase was primarily due to higher personnel expenses. General and administrative expenses, including non-cash stock-based compensation expense, were $10.0 million for th
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SOURCE Senomyx, Inc. Copyright©2009 PR Newswire. All rights reserved

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