Mon, May 16, 6:29 PM
- Prompted by a tough business climate and apparent buyer interest, thinly traded nano cap Metabolix (NASDAQ:MBLX) announces that it is exploring strategic alternatives for its specialty biopolymers unit and its Yield10 crop science program.
- If a deal can be reached for the biopolymers business, the company may redirect resources on developing and commercializing Yield10 or it may jettison it as well. According to the company, negotiations with interested parties are underway.
- Metabolix is currently trying to secure additional capital before the end of the month. As of the end of March, it had only $5.3M in quick assets.
- Citing these developments, management will not be hosting a conference call to discuss Q1 results.
Oct. 6, 2014, 5:01 PM
- Pursuant to its intent to focus on commercializing performance additive solutions based on polyhydroxyalkanoate (PHA), Metabolix (MBLX -3.3%) will discontinue the operations of its wholly-owned German subsidiary, Metabolix GmbH and pursue a sale of all or part of the business. It expects to cease operations by the end of 2014.
- The company will take a $900K charge in Q3 as a loss on disposal of discontinued operations of which $750K is non-cash related.
- Management expects to save $2M in cash per year by discontinuing the business.