Senomyx announces $40M and no debt in 2008

Senomyx reported it has ended 2008 with more than $40 million in cash, cash equivalents, and investments available-for-sale and no debt.

“2008 was an important year for Senomyx, with both scientific and business accomplishments that culminated in the receipt of a generally recognized as safe (GRAS) designation for our sucralose enhancer, S2383, and a new collaboration with Firmenich for the commercialization of S2383 in the US and elsewhere,” says Kent Snyder, president and CEO of the company.

“Sucralose is a widely used high-intensity sweetener and we believe Firmenich has the ability to drive worldwide market acceptance and maximize the long-term revenue potential for S2383.”

During the past year, Senomyx increased the number of granted patents in its intellectual property portfolio of proprietary taste receptor technologies.

As of December 31, 2008, Senomyx is the owner or exclusive licensee of 152 issued patents and 392 pending patent applications in the U.S., Europe, and elsewhere.