SAN DIEGO, July 31, 2014 /PRNewswire/ -- Senomyx, Inc. (NASDAQ: SNMX), a leading company using proprietary taste science technologies to discover, develop, and commercialize novel flavor ingredients for the food, beverage, and ingredient supply industries, today reported financial results for the second quarter 2014. The Company ended the second quarter with $33.6 million in cash and highly liquid investments.
"During the past quarter Senomyx achieved another important milestone with the regulatory approval of a new flavor ingredient," said John Poyhonen, President and Chief Executive Officer of the Company. "We were very pleased to receive notification from the Expert Panel of the Flavor and Extract Manufacturers Association of the United States (FEMA) that S2227, a novel cooling agent, has been designated Generally Recognized As Safe (GRAS). This approval opens new commercial opportunities for Senomyx and marks the fourth taste modality – sweet, savory, bitter, and now cooling - for which the Company has completed the discovery, development and regulatory process."
The FEMA GRAS determination allows Senomyx's partner for the Cooling Taste Program, Firmenich, to pursue commercialization of S2227 in the U.S. and a number of other countries. The FEMA GRAS status also assists with approvals in other regions of the world. S2227 has demonstrated preferred cooling properties and advantages over currently available agents such as menthol, including greater potency, longer cooling duration, and a lack of undesirable aroma for certain applications. The FEMA GRAS designation permits usage in a variety of product categories including confectionaries, sauces, beverages, and dairy products.
"In other regulatory news, Senomyx's Sweetmyx® SR96 (S9632) ha
|SOURCE Senomyx, Inc.|
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