Metabolix Inc shares climbed today following the release of its 4th Quarter results. Metabolix Inc. trades on the “NASDAQ” under the stock symbol “MBLX”. For the Latest information regarding “MBLX”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Shares of Metabolix Inc. (NASDAQ:MBLX) climbed Thursday; a day after the biosciences company reported fourth-quarter earnings and updated analysis on product development. The Cambridge, Mass., company on Wednesday said it lost $9.8 million, or 39 cents per share, in the final quarter of 2009 compared to a net loss of $8.9 million, or 40 cents per share, in the fourth quarter of 2008.
Revenue fell to $200,000 from $400,000, with money in both quarters coming primarily from government research contracts.
Metabolix executives said in a statement they are already working with some customers on product prototyping and testing.
"I think a lot of people felt good about that," Horowitz said, adding that he expects
About Metabolix Inc:
Metabolix, Inc., a bioscience company, develops and commercializes alternatives to petrochemical-based plastics, chemicals, and energy. It applies metabolic engineering and molecular biology tools to produce biobased plastic in microbial systems and directly in non-food plant crops. The company offers its proprietary microbial fermentation system to produce a family of polymers known as polyhydroxyalkanoates under the Mirel name. Mirel is used for injection molding, cast sheet, cast and blown film applications, and thermoforming. It sells these bioplastic alternatives to petroleum-based plastics for use in a range of commercial applications, including products used in agriculture and horticulture, compost and organic waste diversion bags, marine and aquatic applications, consumer products, business equipment and durable goods, and general packaging materials. In addition, the company is also developing a proprietary platform technology for co-producing plastics, chemicals, and energy from crops, such as switchgrass, oilseeds, and sugarcane. It has a strategic alliance with ADM Polymer Corporation. The company was founded in 1992 and is headquartered in Cambridge, Massachusetts.
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