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Redpoint Q2, 1H 2010 Results
Posted: August 13, 2010
Redpoint Bio (Ewing, New Jersey) has reported second quarter 2010 recorded revenues of $0.8 million, bringing its first half revenues to $1.9 million. Research and development expenses for the six months of the year were $1.6 million, compared to $3.4 million in the same period of 2009. Redpoint reported a net loss for the second quarter and first half of 2010 of $1.4 million and $3.1 million, respectively. The company reported ~$2.5 million in cash and cash equivalents at June 30. Results were in part driven by a previously announced agreement with IFF.
"We believe that Redpoint's unique technology platform could lead to additional opportunities for discovering novel natural flavorings and flavor enhancers, to help meet increasing consumer demand for more healthful foods and beverages that still taste great," said CEO Ray Salemme.