Senomyx Inc., a San Diego biotech that makes flavor-enhancers, announced financial earnings for the fourth quarter and full 2015 year.
The company reported a net loss of $2.9 million on revenue of $6.3 million in the fourth quarter of 2015, compared with a net loss of $3.1 million on revenue of $6.3 million in the same period the previous year.
Senomyx reported a net loss of $12.6 million on full year revenue of $24.9 million in 2015, compared with a net loss of $12.2 million on revenue of $27.7 in 2014.
"Senomyx is starting 2016 well-positioned for continued commercial growth and R&D progress," said John Poyhonen, president and CEO of Senoymx, in a statement. "Our flavor ingredient Sweetmyx S617 was first commercialized by PepsiCo and made available to consumers in the fourth quarter of 2015. In addition, our direct sales efforts continue to build momentum with additional flavor house wins."
The company stated that it has made “meaningful advances” in its zero calorie sweetener discovery programs.
“Our R&D team has identified multiple novel sweeteners from certain plant sources known to have a sweet taste,” Poyhonen said.
The company’s next step is to fine tune the taste profile of the lead candidate sweeteners, and investigate manufacturing scale-up routes.
“We remain optimistic that we will identify a commercially viable natural high intensity sweetener with competitive advantages to currently available sweeteners, although the discovery and development timeline is uncertain,” Poyhonen said.