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Senomyx Announces Fourth Quarter And Full Year 2012 Financial Results And Initiation Of New Direct Sales Strategy
Date:3/15/2013

0; We expect that our costs of commercial revenues will be comprised of royalty payments related to in-licensed technologies and the cost of goods sold related to our direct sales strategy.  As we increase commercial revenues, these expenses will increase accordingly," Rogers added.

Cash Balance:"We continue to maintain a keen focus on our cash balance and cash requirements.  Based on our strong balance sheet, which includes approximately $42 million in cash and no debt, as well as approximately $15 million in additional cash commitments from collaborators; and considering our long-range financial expectations, we do not have plans to raise additional capital from investors to fund existing operations," Rogers added.

In addition to its year-end cash balance, the Company has potential future sources of cash including the following:

  • $15 million in commitments from current collaborators for research and development funding, license fees and milestones achieved
  • $24 million in potential milestone payments under current collaborations
  • $22 million related to extension options under current collaborations
  • Conference Call:Senomyx will host a conference call at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) today to discuss these financial results and provide an update on the Company.  To participate in the live conference call, U.S. residents should dial (888) 680-0892, and international callers should dial (617) 213-4858, at least 10 minutes prior to the call start time.  The participant passcode for this conference call is 74341080.

    Participants may pre-register for the call at any time, including up to and after the call start time, at https://www.theconferencingservice.com/prereg/key.process?key=PLQBV9XBC. Pre-registrants will be issued a pin number to use when dialing into the live call
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    SOURCE Senomyx
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