Metabolix, Inc. Reports First Quarter 2007 Financial Results

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Metabolix, Inc. (NASDAQ: MBLX), a biotechnology company focused on developing clean, sustainable solutions for the world’s needs for plastics, fuels, and chemicals, today reported financial results for the three months ended March 31, 2007. The company reported a net loss of $4.7 million or $0.22 per share for the first quarter of 2007 as compared to a net loss of $0.3 million or $0.11 per share for the first quarter of 2006. The number of shares used in the calculation of earnings per share was 21.4 million for the first quarter 2007 as compared to 3.0 million for the first quarter 2006. The increase in the number of shares primarily reflects the shares issued in the Company’s November 2006 initial public offering and the conversion of its convertible preferred stock and the exercise of certain warrants.