Senomyx, Inc.(SNMX) saw its loss widen to $3.44 million, or $0.07 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.42 million, or $0.05 a share. Revenue during the quarter dropped 28.54 percent to $4.47 million from $6.25 million in the previous year period. Operating margin for the quarter stood at negative 77.21 percent as compared to a negative 39.01 percent for the previous year period.
Operating loss for the quarter was $3.45 million, compared with an operating loss of $2.44 million in the previous year period.
"Senomyx is off to a good start in 2017," stated John Poyhonen, president and chief executive officer of the Company. “We exceeded our financial guidance for the first quarter of 2017 and are well-positioned to meet key commercial revenue, business development and R&D goals. During the first quarter, we grew direct sales to well over twice that of our previous highest quarter, we advanced business development discussions on siratose, our lead natural high intensity sweetener, and we received regulatory authorization to commercialize a new cooling flavor ingredient."
For the second-quarter 2017, Senomyx, Inc. expects revenue to be $4.60 million. The company forecasts net loss to be $3.30 million. It company projects diluted loss per share to be $0.07.
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