"In the first quarter we produced densified biomass polylactic acid, a key C3 chemical and we expect to sample it to perspective customers beginning in the second quarter. The sampling process is a key step along the path toward securing industry partnerships." - MetabolixThe company said it has also been able to demonstrate that its switchgrass PHB techology can function in sugarcane.
"Apart from goals of $48-$50m in cash on hand at year-end and entering 2013 with a cash burn of ~$24m, Metabolix remains wary of giving sufficient financial details to assess the relative importance of the different announcements. We expect the shares to remain range-bound until the announcements have more context--either directly, through financial disclosures, or indirectly, through partnerships that provide some sketch of a framework for Metabolix's ability to capture value created by its unique technology positions."