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Verenium Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2010
Date:3/1/2011

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  • SG&A: $23 to $25 million

  • Planned capital investments for the commercial business, including manufacturing debottlenecking, are expected to be between $4 and $6 million.  In addition, the Company expects to spend up to $10 million to build out a new San Diego, CA facility over the next two years and is exploring opportunities for spreading the capital expenditure over a longer period of time.

    About VereniumVerenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes.  Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets.  Read more at www.verenium.com.

    Forward-Looking StatementsStatements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty.  These include, but are not limited to, statements related to Verenium's lines of business, operations, capabilities, commercialization activities, corporate partnerships, target markets and future financial performance, results and objectives, all of which are prospective.  Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements.  Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's strategic focus, risks associated with Verenium's technologies, risks associated with Verenium's ability to obtain additional capital to support its planned operations and financial obligations, risks associated with Verenium's dependence on patents and proprietary rights, risks associated with Verenium's protection and enforcement of its patents and proprietary rights, the commercial prospects of the industries in which Verenium operate
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    SOURCE Verenium Corporation
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