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Business
Metabolix considering strategic alternatives
by Alexander H. Tullo
May 23, 2016
| A version of this story appeared in
Volume 94, Issue 21
Metabolix, a developer of renewable polyhydroxyalkanoate polymers, is considering a sale of its core polymers business as well as a crop yield technology. The company says it is already in discussions regarding the polymers unit. Metabolix is down to about $5.3 million in cash. It raised $14.7 million from stock offerings in 2015 but burned through $21.9 million that same year. Soon after announcing the potential divestitures, the company signed a licensing agreement with medical device maker Tepha that will garner it a $2 million lump-sum payment.
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