Metabolix reports third quarter 2012 financial results and provides business update

Friday, Nov 02, 2012

Metabolix, Inc. (NASDAQ: MBLX), an innovation-driven bioscience company delivering sustainable solutions to the plastics, chemicals and energy industries, today reported financial results for the three months ended September 30, 2012.

“We made progress in each of our business areas during the quarter. We entered the demonstration phase with Antibióticos, our manufacturing partner for biopolymers, and have begun the engineering and ordering of the equipment needed to begin production in Spain. We expect Antibióticos to begin delivering demonstration quantities of biopolymer in early 2013 and commercial quantities later in the year. We also increased our product shipments during the third quarter utilizing our inventory position to expand the roster of customers placing new and repeat orders,” commented Richard P. Eno, President and Chief Executive Officer of Metabolix. “In our biobased chemicals platform, we have accelerated discussions with potential partners for our C4 and C3 chemicals programs. In our crops platform, which we believe has excellent long term potential, we have continued to execute on our $6 million DOE grant and are pursuing a number of opportunities for additional funding.”

Source: Business Wire