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Senomyx Q4 Loss Widens; Gets E.U. OK for S6973 Sucrose Modifier
Posted: March 13, 2014
Senomyx, which gained E.U. approval for another sucrose modifier, said its fourth-quarter loss widened to $3.1 million from $2.21 million a year earlier.
Revenue fell 9.5% to $7.41 million from $8.18 million a year earlier. For the full year, the company’s loss widened to $11.9 million from $9.19 million a year ago and revenue fell 6.5% to $29.3 million.
In further regulatory news, Senomyx said the European Food Safety Authority has completed its review of the S6973 sucrose modifier, which can now be marketed in the European Union, allowing commercialization in nearly every major country. S6973, also known as Sweetmyx SR69, is a flavor with modifying properties that is used as part of a flavor system to restore the original taste profile in products in which sugar has been reduced. It is applicable for almost all food categories, as well as selected beverages.
“Senomyx is starting 2014 well-positioned for commercial growth and continued achievements with our R&D and regulatory efforts,” said John Poyhonen, the company’s president and CEO.
On Tuesday, the company announced its new Sweetmyx flavor ingredient, previously referred to as S617, was determined to be Generally Recognized As Safe (GRAS) under the provisions of the Federal Food, Drug and Cosmetic Act, administered by the United States Food and Drug Administration (FDA).