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look at all the law firms questioning the sale price !
I guess I dont care -- I sold for 3.97.
Chris
VRNM agrees to be bought by BASF ! $4 per share !!
Wheeeeee !!!
wow somebody decided to dump some shares today !
Chris
Yay !
Sorry - I couldn't help it -- I sold into the spike.
Chris
Conference call today....
Sounded very forward looking. A lot of deals in the pipeline as well.
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.
~ Monday! $VRNM ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $VRNM ~ Earnings expected on Monday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
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*If the earnings date is in error please ignore error. I do my best.
well looks like VRNM ended up exactly as I said it would
What the hell is wrong with this POS stock?
What the hell is wrong with this POS stock?
Is this stock really good for the long term or will it keep going up and down from 6 to 2.90 or whatever for another while so I'd still get know where if I bought it tomorrow and longed it for a year? I was thinking of investing in it for the long term because so many say it will be big. Well that sounds great but the most important question is when? I saw that it was very high priced a long time ago but for a couple years it has had many ups and downs and hasn't really got anywhere.
Very True... IMHO, 10$ EOY!
Finally seeing this stock's true potential. Nice day, longs!
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
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Last Friday was the closing of the BP deal, were VRNM sold the cellulosic biofuels business to BP for $98.3 million. The facilities were a money pit for VRNM I am glad to see them gone. Now they can start to make money with their enzyme products $$$
Why is this going to sky rocket? Please explain because I've been out of the loop. Thanks!
I think you're right, it's time to buy.
Today is the day we were all waiting for...this is going to skyrocket!!! Enjoy the ride :0)
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, “Verenium 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).”
“Verenium 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,” the analysts add.
Jefferies has raised its EPS estimate for FY10 from -$3.00 to -$2.26.
that's probably just the start....
and the pps is falling hard......
VRNM is pretty quiet now that the one day of hooplah came and went
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."
yep, any longs here who stand to make a profit should take a chunk of profit and run like the devil, imo
,,,,,,,Goodnight...Have a plane to catch tomorrow...vacation time. Finally!!
Your not the only one who shorted...why do you think it tanked so fast at the open! ROFL!!
I prefer to take the money and run
but I do hear what you're saying
shorting this thing has been the best strategy for me
this recent development was just an amazing one day run
and it paid off
at first I was quite optimistic and then became very skeptical
plus with the way the market has behaved the past 20 months or so
shorting was the only way to play it, imo
not to mention all the competition
Trinity,,,Tomorrow look for pullback...& entry.
It's by simple math....the company now has 123 million in cash. (98 million for buyout, 10 million on Lease buyout, and 15 million in cash) The company has 12 million OS. Yes they do have debt (100 million) but it is longterm debt. Their enzyme business has revenues of 63 million last year. The company had a loss..but most of that was R&D associated with the Biofuels division, and ALL of the revenue was based on the existing enzyme business. They can now be profitable and expand the enzyme business.
As far as being harsh...the guy needs to learn how to read a 10Q before he posts about how worthless a company is.
He is trying to state VRNM assets are 149 thousand! They are 149 MILLION per the last 10q. He is trying to give out false info.
Add to that the guy was trying to say this was a fake BP....he was posting garbage to help his short. Useless poster.
wow, that's a little unnecessary. Please explain to us then WHY the stock is not trading at $6 - $8 per share.
So If i was to invest based on your knowledge Google would have the following total assets from their 10Q.
Total assets
$ 40,497 $ 42,871
But I would have forgot to look and see it says in MILLIONS.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7230611-816-253434&type=sect&dcn=0001193125-10-108704
But I guess they only have 40k in assets....damn them!
Are you a moron??? That is in THOUSANDS! Assets are 149 million!! Revenues are 13 million for the quarter. They sold their biofuels plant and cali facility for 98 million dollars. They have cash of 130 million with this sale and debt of only 100 million. They also have 100's of patents for their enzyme business. The stock should be worth at leat 6-8$ dollars based on just facts.
nicely done!
and money in the bank real fast
Either way, VRNM sold it's bio-fuels for $98mil
yup...something just didn't seem right with it which is why I went short at $3.88 avg...also short on LNET...appears one of the larger shareholders has been unloading lately (Black horse)
BP's just hiding money for a select few, imo
I may be wrong
but it sure looks that way to me
obviously there was some value but that appears to be a win for vrnm. seems like a windfall actually.
Well, BP needs to worry about bailing their own asses out rather than running around purchasing worthless companies.
from VRNM's last 10-Q
Total assets
$ 149,426
Total revenues
$ 13,031
$98 million seems like a high price tag
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.
BEWARE: BP Biofuels North America LLC is NOT the same company as BP Plc nor are they affiliated.
Look at the balance sheet. Less than $12,000 in revenues last quarter. Not to mention, the "BP" in the press release that everyone thinks is involved here is in fact a totally different BP. "BP Biofuels North America LLC" is not BP Plc, which appears to be the mistake people are making
kind of what I figured....
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This board is for fundamental and technical discussion about Verenium Corporation, VRNM.
Verenium Corporation, formerly Diversa Corporation, is engaged in biomolecule discovery. The Company employs its enzyme discovery and evolution technologies to enable higher throughput and improved environmental outcomes. In addition to its internal and partnered research and development programs, the Company has a portfolio of commercialized enzyme products, as well as several late-stage product candidates. The Company's key areas of focus for internal product development are integrated solutions for the production of cellulosic biofuels, such as cellulosic ethanol, and specialty enzymes for biofuels, specialty industrial processes, and health and nutrition. It has formed alliances with companies, such as BASF, Bunge Oils, Cargill Health and Food Technologies, DSM, DuPont Bio-Based Materials, Syngenta AG, and Xoma, to complement its internal product development efforts. The Company has two inactive subsidiaries: Innovase LLC and TNEWCO Inc.
Verenium Corporation is a leader in the development and the commercialization of cellulosic ethanol, an environmentally-friendly and renewable transportation fuel, as well as higher performance specialty enzymes for applications within the biofuels, industrial, and animal nutrition and health markets.
The Company possesses integrated, end-to-end capabilities in pre-treatment, novel enzyme development, fermentation, engineering, and project development and is moving rapidly to commercialize its proprietary technology for the production of cellulosic ethanol from a wide array of feedstocks, including sugarcane bagasse, 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 that act as the catalysts of biochemical reactions.
Verenium operates one of the nation’s first cellulosic ethanol pilot plants, an R&D facility, in Jennings, Louisiana and has recently entered the start-up phase at its 1.4 million-gallon-per-year demonstration-scale facility. In addition, the Company’s process technology has been licensed by Tokyo-based Marubeni Corp. and Tsukishima Kikai Co., LTD and has been incorporated into BioEthanol Japan’s 1.4 million liter-per-year cellulosic ethanol plant in Osaka, Japan -- the world’s first commercial-scale plant to produce cellulosic ethanol from wood construction waste.
Verenium and Marubeni are continuing to advance the commercialization of cellulosic ethanol projects utilizing Verenium’s proprietary technology in Asia with the opening of a three million-liter-per-year plant in Saraburi, Thailand. The cellulosic plant in Thailand is co-located with a facility that will produce ethanol from sugar-cane derived sucrose, which is widely abundant in the region.
Verenium Corporation Verenium Corporation Verenium Biofuels, LLC
55 Cambridge Parkway, 8th Floor 4955 Directors Place PO Box 389
Cambridge, MA 02142 San Diego, CA 92121 11107 Campbell Wells Road
TEL: 617.674.5300 TEL: 858.526.5000 East Highway 90
Jennings, LA 70546
TEL: 337.785.4500
Charts
http://stockcharts.com/c-sc/sc?s=VRNM&p=D&yr=1&mn=0&dy=0&i=p97368207901&a=159379713&r=422
The plant will make ethanol from energy cane, a variety of sugar cane bred specifically for ethanol production.
Verenium owns a robust intellectual property portfolio with patents covering our key technologies in the discovery, optimization, production and use of novel protein-based products. In addition, we maintain numerous composition of matter patents covering our novel enzyme products and product candidates. Verenium currently has over 300 issued patents and over 400 patents pending (as of June 2008).
Selected Patents
5,939,250 Production of enzymes having desired activities by mutagenesis. 5,958,672 Protein activity screening of clones having DNA from uncultivated microorganisms 6,001,574 Production and use of normalized DNA libraries 6,168,919 Screening methods for enzymes and enzyme kits 6,171,820 Saturation mutagenesis in directed evolution 6,280,926 Gene expression library produced from DNA from uncultivated microorganisms and methods for making the same 6,344,328 Method for screening for enzyme activity 6,455,254 Sequence based screening 6,537,776 Synthetic ligation reassembly in directed evolution 6,632,600 Altered thermostability of enzymes
Verenium Facilities
Located on a 140-acre company-owned site are Verenium’s Pilot and Demostration-scale plants.
Pilot Plant:
Verenium operates a cellulosic ethanol pilot plant, a real-time research and development facility, in Jennings, Louisiana. Opened in 1999, the facility was capable of CF hemicellulose fermentations. During 2006 the company completed extensive upgrades on the pilot facility, enabling it to conduct combined C5 and C6 fermentations. The Jennings pilot facility is capable of processing approximately two tons of biomass per day into ethanol. It is operated as an R&D facility to improve the company’s process technology and to validate the company’s process on a wide variety of biomass feedstocks.
Demonstration Plant:
Next door to the pilot facility, Verenium has recently achieved mechanical completion of a 1.4 million gallon per year demonstration-scale plant - the first of its kind in the nation. Over the next few months, more than forty separate systems will be electronically energized. Operating teams have begun evaluations, and the project will move to validate the implementation of Verenium’s process and technology. By year-end, Verenium will move to fully optimize the demonstration plant.
Commercial Projects:
Preparations are being made for Verenium’s first commercial-scale facilities, which are expected to produce 30 million gallons of ethanol per year. With the optimization of Verenium’s pilot and demo plants, the commercial plant development program is underway. Currently, a variety of sites are being explored for plant development in Florida, Louisiana, and Texas.
Osaka, Japan:
In addition, the Company’s process technology has been licensed by Tokyo-based Marubeni Corp. and Tsukishima Kikai Co., LTD and has been incorporated into BioEthanol Japan’s 1.4 million liter-per-year cellulosic ethanol plant in Osaka, Japan -- the world’s first commercial-scale plant to produce cellulosic ethanol from wood construction waste.
Developing A Pipeline of Commercial Projects Implementing First-Generation Cellulosic Ethanol Technology
Verenium is advancing the strategic development of a pipeline of sites in the Gulf region of the U.S. for its first series of commercial facilities.
Verenium’s Commercial Development team is actively working on developing a series of projects for 30 to 60 million gallon per year commercial-scale cellulosic ethanol facilities in the US Gulf region. Ultimately, the Company plans to expand its development globally, however, its initial focus is in the Gulf region, given the proximity to areas with strong growing conditions for high biomass dedicated energy crops and in some cases sugarcane bagasse.
As projects are being developed, critical areas of activity will focus on site feasibility, permitting, feedstock supply agreements, other commercial agreements, and financing. The current projects that the Company has under development in the Gulf region have the following key attributes:
Energy crops and sugar cane bagasse feedstocks
Local agricultural partners
Good logistical interfaces
Potential options for co-locating with other facilities
Partnerships are key
As the Company continues to develop commercial projects, bringing partners into the mix will be a critical component of the overall strategy. The goals of these partnership arrangements will be to bring additional, specialized skills into the value chain, particularly in the areas of agronomics, engineering and construction, and marketing / off take as a means for helping to both de-risk and accelerate the development of each project.
Verenium expects to continue to advance a pipeline of multiple sites, and to have its first commercial plant ready for construction by the middle of 2009.
ThinkEquityLLC Audio:
http://www.wsw.com/webcast/think/vrnm/
Videos:
http://www.youtube.com/watch?v=itgtacaM_dM
http://www.youtube.com/watch?v=EkrvYfwVaLw
http://www.verenium.com/_about_verenium.asp
New Secretary of Energy on cellulosic ethanol:
http://www.youtube.com/watch?v=V448U2SYU7U
http://www.youtube.com/watch?v=m7RkwcpejAQ
Power Point Presentation:
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