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Verenium Reports Financial Results for the First Quarter 2008
Date:5/5/2008

r availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, changes in the U.S. or global energy markets and risks and other uncertainties more fully described in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's annual report on Form 10-K for the year ended December 31, 2007 and the Company's Form 8-K filed on April 8, 2008. These forward-looking statements speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update these forward-looking statements.

Contacts:

Kelly Lindenboom

Vice President, Corporate Communications

617-674-5335

kelly.lindenboom@verenium.com

Sarah Carmody

Sr. Corporate Communications Associate

617-674-5357

sarah.carmody@verenium.com

Selected Financial Information

Condensed Consolidated Loss from Operations

(unaudited, in thousands)

Three Months Ended March 31,

2008 2007

Revenues:

Product $11,201 $5,352

Collaborative 3,475 4,735

Grant 559 1,221

Total revenues 15,235 11,308

Cost of product revenues 7,877 4,892

Product gross profit 3,324 460

Operating expenses:

Research and development 14,861 11,639

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SOURCE Verenium Corporation
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