Verenium Reports Financial Results for the Third Quarter and Nine Months Ended Septembe...(705 Total Revenues 1086...),Health

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

Product Gross Profit 1,580 1,028 3,838 1,902

Product Gross Margin 25% 22% 22% 18%

Restructuring Expenses -- 766 58 11,533

Non-cash in-process

research and development

charge -- -- 42,400 --

Total Operating Expenses 30,743 18,678 118,318 68,501

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

Net Loss Per Share $(0.34) $(0.08) $(1.64) $(0.72)

Revenues for the third quarter and nine months ended September 30, 2007 were $10.9 million and $33.3 million, respectively, compared to $14.3 million and $34.4 million for the same periods in 2006. Net loss for the third quarter and nine months ended September 30, 2007 was $20.5 million, or $0.34 per share, and $86.0 million, or $1.64 per share, respectively, which included a preliminary one-time, non-cash charge of $42.4 million for in-process research and development related to the merger with Celunol Corporation in June 2007. Net loss for the third quarter and nine months ended September 30, 2006 was $4.0 million, or $0.08 per share, and $33.1 million, or $0.72 per share, respectively, which included a restructuring charge of $0.8 million in the third quarter and $11.5 million in the first nine months of 2006. As of September 30, 2007, the Company had cash, cash equivalents, and short-term investments totaling $87.6 million.

Product revenues for the third quarter and nine months ended September 30, 2007 were $6.3 million and $17.7 million, respectively, compared to $4.7 million and $10.6 million in 2006, representing an increase of 35% and 68% when compared to the same periods in the prior year. The increase in product revenues was primarily due to increased sales of Phyzyme(TM) XP
'/>"/>