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Verenium Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2007
Date:11/6/2007

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kelly.lindenboom@verenium.com wendy.kelley@verenium.com

Selected Financial Information

Condensed Consolidated Statements of Operations

(unaudited, in thousands, except per share amounts)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

Revenues:

Product $6,331 $4,690 $ 17,727 $10,566

Collaborative 4,075 9,200 13,202 22,149

Grant 455 422 2,374 1,705

Total revenues 10,861 14,312 33,303 34,420

Operating expenses:

Cost of product revenues 4,751 3,662 13,889 8,664

Research and development 16,119 11,162 41,247 37,676

Selling, general and

administrative 9,873 3,078 20,724 10,628

In-process research and

development -- -- 42,400 --

Restructuring expenses -- 776 58 11,533

Total operating expenses 30,743 18,678 118,318 68,501

Loss from operations (19,882) (4,366) (85,015) (34,081)

Interest and other income,

net (611) 391 (996) 933

Net loss $(20,493) $ (3,975) $(86,011) $(33,148)

Basic and diluted net loss

per share $(0.34) $(0.08) $(1.64) $(0.72)

Weighted average shares used

in computing basic and

diluted net loss per share 60,483 46,779 52,334 46,
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SOURCE Verenium Corporation
Copyright©2007 PR Newswire.
All rights reserved

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