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Senomyx Q4 Rev Falls; But Adds New Savory Flavor

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Senomyx’s fourth-quarter and full year revenue fell although the company is now adding to its direct sales portfolio a new savory flavor ingredient Savorymyx UM33 (S336), which offers heightened meaty, pepper and spicy taste notes at low use levels.

With the aim to boost its savory business, Synomyx said Savorymyx UM33 can be used in almost all food categories, as well as selected beverages. “It has broad regulatory authorization and is available for commercialization by Senomyx's customers in nearly every major country outside of Asia," said Sharon Wicker, Senomyx's senior vice president and chief commercial development officer.

In addition, the company’s new flavor ingredient Sweetmyx S617 received regulatory authorization to be commercialized by partners in the United States and other critical markets. Senomyx has two partners, PepsiCo and Firmenich, preparing for the commercialization of Sweetmyx S617. Based on recent feedback from these partners, the company continues to expect that the first commercial sale of a product containing Sweetmyx S617 will occur mid-year 2015. Also, Senomyx's direct sales team is now marketing five Complimyx brand flavor offerings to leading flavor houses. Senomyx said its commercial revenue growth in 2015 and beyond will be driven primarily by Sweetmyx S617 commercialization and direct sales.

For the fourth quarter, the company’s revenue fell 15.5% to $6.26 million and its fourth-quarter loss widened to $3.10 million from $3.09 million. Full-year revenue fell 5.5% to $27.3 million and its loss widened to $12.2 million from $11.9 million a year ago. For the full year 2015, Senomyx expects total revenues of approximately $25 million to $30 million and a net loss of $13 million to $15 million.