mlkrborn
13 years ago
Verenium spikes 20% in pre-market trading; co announced earlier that it has completed a $37 million sale of certain assets to DSM (VRNM) 3.09 : Co announced it has closed a transaction with DSM Food Specialties B.V., a business group of Royal DSM, in which Verenium has sold to DSM its Oilseed Processing business, licensed certain enzymes for use in the food and beverage markets, and will provide access to new gene libraries to be developed by Verenium. Verenium will receive $37 million in total consideration, including transaction and related expenses, on Monday, March 26, 2012. Verenium will develop new gene libraries for use by DSM. Both companies will have full access to the libraries for the purpose of identifying new product opportunities. This transaction does not impact Verenium's existing gene libraries. The products acquired by DSM represented approximately $7.5 million in revenue to Verenium in 2011.
Edgar2010
14 years ago
Verenium Corporation
Laatste 4,2400 19:30 1.600
+/- 0,9900 30,46%
Slot 3,2500 19-10-10
Open 3,5000 15:30
Hoog 4,3400 19:29
Laag 3,3600 15:30
Bied
Laat
Volume
pennystockbrad
14 years ago
optimistic for the long term, no?
Analysts at Jefferies & Co reiterate their "hold" rating on Verenium Corp (NASDAQ: VRNM), while raising their estimates for the company. The target price for VRNM has been reduced from $3.60 to $2.90.
According to Jefferies & Co, βVerenium has laid out a framework for developing its core enzyme business. These include: 1/ Organization (streamlining the business); 2/ Transition out of San Diego facility (and establish a new fermentation lab); 3) Manufacturing improvements (projects to decrease costs of and variability in production, i.e. debottlenecking); 4/ Capacity additions (the company currently has enough scale in its facility to meet market needs for all of its commercial enzymes but may add capacity in the medium-term to meet growing demand; a 1m L greenfield enzyme facility would require ~$100m capital); 5/ Invest in the pipeline (Verenium currently has 15 specific biomolecules that are in various stages of development).β
βVerenium has retained its entire regulatory staff which has extensive experience in registering products with the U.S. EPA, FDA, Center for Veterinary Medicine and other global Agencies,β the analysts add.
Jefferies has raised its EPS estimate for FY10 from -$3.00 to -$2.26.
pennystockbrad
14 years ago
What do you mean simple math? It doesn't explain WHY the pps is NOT at the $6 - $8 of your evaluation.
With decreasing sales (see below) and fewer assets (see sales to BP) I just don't see how VRNM is going anywhere.
That guy wasn't trying to give out false info, he made a mistake.
It appears that BP Biofuels and BP LLC and BP Plc are all the same thing. The other guy wasn't saying anything about a fake BP, just that the biofuel buyer may not have been the BP we all know and love.
saw this info this AM:
"Total revenues for the quarter ended March 31, 2010, were $13.0 million compared to $14.4 million for the same period in the prior year, with product revenues representing 89% of total revenues for the three months ended March 31, 2010, compared to 73% for the same period in the prior year.
"BP and VRNM recently announced an agreement for BP Biofuels North America to acquire VRNM's cellulosic biofuels business, including the Company's facilities in Jennings, La., and San Diego, Calif., for $98.3 million. VRNM will retain its commercial enzyme business, including its biofuels enzymes products and have the right to develop its own lignocellulosic enzyme program. VRNM will also retain select R&D capabilities, as well as rights to access select biofuels technology developed by BP using the technology it is acquiring from VRNM through this agreement."
Orvis
14 years ago
From Market watch:
By Robert Daniel VRNM BP UK:BP. NEW YORK (MarketWatch) - Verenium Corp. /quotes/comstock/15*!vrnm/quotes/nls/vrnm (VRNM 3.90, +1.44, +58.53%) shares leaped 57% on Thursday after the Cambridge, Mass., developer of enzymes for industrial processes agreed to sell its cellulosic biofuels unit to BP Plc, /quotes/comstock/13*!bp/quotes/nls/bp (BP 37.08, +0.90, +2.49%) /quotes/comstock/23s!a:bp. (UK:BP. 401.75, +0.75, +0.19%) the U.K. integrated oil giant, for $98 million. The deal includes cellulosic biofuel facilities in Jennings, La., and San Diego. Verenium will retain its commercial enzyme business, including a technology platform for biofuels, as well as its right to develop its own lignocellulosic enzyme program. BP becomes the sole investor in Vercipia Biofuels, a 50-50 joint venture that BP and Verenium formed in February 2009. Galaxy Biofuels, which they also own 50-50, will be owned 100% by BP.
This differs with what you are saying.