SAN DIEGO--(BUSINESS WIRE)--Senomyx, Inc. (NASDAQ:SNMX), a company focused on using proprietary taste receptor-based technologies to discover novel flavor ingredients for the food, beverage, and ingredient supply industries, today reported financial results for the first quarter ended March 31, 2008. Revenues were $6.1 million for the first quarter of 2008, compared to $3.1 million for the first quarter of 2007, an increase of 98%. The increase was primarily due to the expansion of Senomyx’s collaboration with Ajinomoto in 2007, revenue associated with a research milestone achieved in the first quarter of 2008, and revenue recognized in connection with collaborations established with two new partners, Solae and Firmenich SA. As of March 31, 2008, the Company had cash, cash equivalents, and short term investments of approximately $55.4 million.
