Sweetener wars
Coke has signed a new agreement to identify natural sweeteners with Chromocell, the company that developed Stevia with Cargill. Details are thin because company is private, but appears to be no upfront payment.
In comparison, Senomyx received $30m upfront from Pepsi for their new deal, which is admittedly broader in scope. SNMX is up 35+% in a matter of about 3 weeks without any materially positive news. The stock is pretty thinly traded and tends to overshoot upside and downside of its swings. I am a seller this afternoon. The progress and newsflow has been negative on balance for the past year, so I do not feel the company warrants multiyear highs in valuation.
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