On Wednesday, Shares of Metabolix, Inc. (NASDAQ:MBLX) declined -1.03% to $0.96. The stock attained the volume of 47,767 shares. Metabolix, an innovation-driven specialty materials company focused on delivering high- performance biopolymer solutions to customers in the plastics industry, declared today that it has reached an amendment to its license agreement with Tepha, Inc., a Lexington, Massachusetts based medical device company that licenses Metabolix PHA biopolymer technology for use in certain medical applications. The amendment calls for a $2.0 million lump sum payment to Metabolix. In exchange, Metabolix agreed to forgo future royalties under its existing license agreement with Tepha and to provide two additional Metabolix production strains and related intellectual property to Tepha for use in the production of Tepha’s medical devices.
As formerly declared, Metabolix is evaluating planned alternatives for its specialty biopolymers business and Yield10 crop science program and is engaged in ongoing efforts to secure additional funding for its planned review process and operations.
Metabolix, Inc. (NASDAQ:MBLX), as of current trade, has shown weekly downbeat performance of 30.71 percent which was maintained at -39.75 percent in 1-month period. The year-to-date (YTD) performance reflected a 37.01 percent below last year. During the past three months the stock loses 39.75 percent, bringing six-month performance to -53.81 percent. The stock holds the market capitalization of $28.53M.
