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SENOMYX ANNOUNCES FOURTH QUARTER AND YEAR-END 2008 FINANCIAL RESULTS
Date:2/12/2009

, and the new bitter blockers that are now moving into the development phase. We are confident that during Mark's leave we have the experience and expertise to continue to advance our Discovery and Development programs."

On other management news, Susan R. Firestone has been promoted to Vice President, Human Resources. Ms. Firestone is an accomplished Human Resource executive with more than 12 years of diverse experience in consulting, start-up, and Fortune 500 companies. She has expertise in driving organizational initiatives and implementing targeted employee programs. Ms. Firestone received an M.S. in Chemistry at the University of California, Los Angeles and a B.S. in Chemistry, Magna Cum Laude from Texas Christian University.

"Susie has made significant contributions to the Company since joining Senomyx in April 2007," Snyder commented. "We are pleased to have her join the management team."

Financial Review:

Revenues for the fourth quarter were $3.5 million, compared to $6.4 million for the same period in 2007, a decrease of 45%. Revenues were $17.2 million for the full 2008 year, compared to $18.2 million for 2007, a decrease of 6%. The decrease in revenue for the fourth quarter and full year is primarily due to higher non-recurring upfront payment revenue in 2007 compared to 2008. Specifically, under its collaboration with Ajinomoto, in 2007 the company received an $8 million upfront payment, the majority of which was recognized as revenue in the second half of 2007. Included in revenues for the full year 2008 were $347,000 in commercial revenues, compared to $23,000 for 2007. Commercial revenues are comprised of amounts associated with commercialization of products containing Senomyx's flavor ingredients and are generally recognized one quarter in arrears.

Research and development expenses (including non-cash stock-based compensation expe
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SOURCE Senomyx, Inc.
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