CAMBRIDGE, Mass., Sept. 9 /PRNewswire-FirstCall/ -- Verenium Corporation
(Nasdaq: VRNM), a pioneer in the development of next-generation cellulosic
ethanol and high-performance specialty enzymes, announced that the 1-for-12
reverse split of the Company's common stock became effective at 5:00 p.m.
today. Verenium's shares will continue to trade on the NASDAQ Global Market
under the symbol "VRNM", with the letter "D" added to the end of the trading
symbol for a period of 20 trading days to indicate the reverse stock split has
occurred. The Company's symbol will revert back to its original symbol "VRNM"
on October 7, 2009. Verenium's common stock has been assigned the new CUSIP
number 92340P 209.
Additional information about the reverse stock split is available in
Verenium's definitive proxy statement filed with the Securities and Exchange
Commission on August 4, 2009 and the Form 8-K filed on September 8, 2009.
About Verenium
Verenium Corporation is a leader in the development and commercialization of
cellulosic ethanol, an environmentally-friendly and renewable transportation
fuel, as well as high-performance specialty enzymes for applications within
the biofuels, industrial, and animal health markets. The Company possesses
integrated, end-to-end capabilities and cutting-edge technology in
pre-treatment, novel enzyme development, fermentation and project development
for next-generation biofuels. Through a joint venture with BP, the Company is
moving rapidly to commercialize its proprietary technology for the production
of ethanol from a wide array of non-food feedstocks, including dedicated
energy crops, agricultural waste, and wood products. In addition to the vast
potential for biofuels, a multitude of large-scale industrial opportunities
exist for the Company for products derived from the production of low-cost,
biomass-derived sugars.
Verenium's Specialty Enzyme business harnesses the power of enzymes to create
a broad range of specialty products to meet high-value commercial needs.
Verenium's world class R&D organization is renowned for its capabilities in
the rapid screening, identification, and expression of enzymes-proteins that
act as the catalysts of biochemical reactions. For more information on
Verenium, visit http://www.verenium.com.
Forward Looking Statements
Statements in this press release that are not strictly historical are
"forward-looking" and involve a high degree of risk and uncertainty. These
include, but are not limited to, statements related to the Company's
strengthening of its balance sheet and the impact on the exchange on future
growth and success, the Company's financing flexibility or ability to obtain
future financing, operations, capabilities, commercialization activities,
target markets, cellulosic ethanol facilities, target markets and future
financial performance, results and objectives, all of which are prospective.
Such statements are only predictions, and actual events or results may differ
materially from those projected in such forward-looking statements. Factors
that could cause or contribute to the differences include, but are not limited
to, risks associated with Verenium's technologies, risks associated with the
costs, labor requirements and labor availability associated with Verenium's
demonstration plant, risks associated with Verenium's ability to obtain
additional capital to support its planned operations and financial
obligations, risks associated with Verenium's dependence on patents and
proprietary rights, risks associated with Verenium's protection and
enforcement of its patents and proprietary rights, technological, regulatory,
competitive and other risks related to development, production, and
commercialization of cellulosic ethanol and other biofuels and the commercial
prospects of those industries, Verenium's dependence on existing
collaboration, manufacturing, and/or license agreements, and its ability to
achieve milestones under existing and future collaboration agreements, the
ability of Verenium and its partners to commercialize its technologies and
products (including by obtaining any required regulatory approvals) using
Verenium's technologies and timing for launching any commercial products and
projects, the ability of Verenium and its collaborators to market and sell any
products that it or they commercialize, the development or availability of
competitive products or technologies, the future ability of Verenium to enter
into and/or maintain collaboration and joint venture agreements and licenses,
changes in the U.S. or global energy markets and laws and regulations
applicable to them, and risks and other uncertainties more fully described in
the Company's filings with the Securities and Exchange Commission, including,
but not limited to, the Company's annual report on Form 10-K for the year
ended December 31, 2008 and any updates contained in its subsequently filed
quarterly reports on Form 10-Q. These forward-looking statements speak only
as of the date hereof, and the Company expressly disclaims any intent or
obligation to update these forward-looking statements.
Verenium Contacts:
Kelly Lindenboom Sarah Carmody
Vice President, Corporate Sr. Corporate Communications
Communications Associate
617-674-5335 617-674-5357
kelly.lindenboom@verenium.com sarah.carmody@verenium.com
SOURCE Verenium Corporation
Kelly Lindenboom, Vice President, Corporate Communications, +1-617-674-5335,
kelly.lindenboom@verenium.com, or Sarah Carmody, Sr. Corporate Communications
Associate, +1-617-674-5357, sarah.carmody@verenium.com, both of Verenium
Corporation
