Senomyx Inc. (NASDAQ:SNMX) reported that total revenues in 3Q2016 came at $6 million. It also included commercial revenue amounting to $2.5 million. John Poyhonen, the CEO and President of Senomyx, said that the company delivered significant results in 3Q2016 to fulfill key commercial revenue, R&D goals and business development.
In the last week of September, the company reported a 3-year extension of Natural Sweet Plan with PepsiCo, offering non-exclusive rights to natural flavor ingredients and natural sweeteners discovered, developed and chosen under the deal for use in non-alcoholic beverage segment.
The management speaks
The CEO of Senomyx said that pursuing new collaborative associations for Natural Sweet Taste Plan that increase the commercial potential of the plan continues to be of top priority for them. Potential associates continue to express considerable interest in Sweet Taste Plan to support their objective of minimizing calories while maintaining taste.
The company has advanced strong pipeline of interested third groups and they remain confident in their ability to cash on new business advancement opportunities in the future. On the R&D front, they continue to report progress in zero calorie sweetener discovery plan. The R&D team is now focused on progressing natural sweetener into the advancement phase.
This unique sweetener derived from a plant source has shown a better taste profile and greater potency than rebaudioside-A in sensory evaluations. The CEO said that they have commenced preliminary safety trials and are continuing their measures to decide on the commercial feasibility of probable fermentation scale-up routes. Though the discovery and advancement timeline is uncertain, still the management is enthusiastic about the prospects of this product candidate.
Additionally, Senomyx continues to look for new products so as to excel in the non-alcoholic beverage industry. The company have advanced next-gen product, ‘Sweetmyx® FS22’, into the final advancement phase activities depending on the clean report from preliminary safety trials with an objective of submitting application for U.S. regulatory nod in 2H2017.
Senomyx’s direct sales plan has shown substantial progress since last quarterly release. The win count has surged to 13 wins across ten different clients. Additionally, the company is thrilled by the volume growth from existing clients, led by repeat orders, enabling them to improve direct sales base business.