August 24, 2011

Genomatica files for IPO

The market may be in upheaval but that doesn't deter renewable chemical company Genomatica from filing an IPO (initial public offering) worth up to $100m on the NASDAQ stock exchange today.

 Source: Buckingham Research, ICIS

The green blogger was out on vacation last week and so was not able to post Genomatica's recent announcement on its joint venture with Italian bioplastic producer Novamont and its milestone in producing bio-butadiene. The blog, however, already speculated a long time ago that Genomatica seems to be intent on filing an IPO this year as well.

Under Genomatica's S-1 filing on the US Securities and Exchange Commission (SEC), the company reported a loss of $9m for the first six months this year compared to a loss of $6m in the same period in 2010. The company said it has accumulated a deficit of $43.5m as of June 30, and had not yet generated any revenue on biobased chemical sales.

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