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Metabolix's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Before we begin our formal remarks, I need to remind everyone that part of our discussion today will include forward-looking statements. These statements are not guarantees of future performance, and therefore undue reliance should not be put upon them. Investors are also cautioned that statements in the discussion today which are not strictly historical statements constitute forward-looking statements.

Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the other risks and uncertainties detailed in the Metabolix filings with the Securities and Exchange Commission including the company s 10-K filed on March 12, 2012. The company undertakes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of the conference call.

With that, I d like to turn the call now over to Rick Eno, President and CEO of Metabolix. Rick?

Rick Eno

Thank you, Allison. I d like to welcome all of you to the second quarter 2012 earnings conference call for Metabolix. Today, as part of my update on our three platform areas I will provide additional detail and perspective on the announcement today of the signing of an LOI with Antibióticos for the manufacture of biopolymers which is a significant milestone in the launch of the Mirel biopolymer business under Metabolix s control.

I will also provide you with an update on our chemicals program which is advancing rapidly with both the achievement of technical milestones and with the engagement of potential customers. After my remarks Joe will then take you through the financials. With so much to cover today I will not provide an overview, but I will remind you that at Metabolix we are focused on three business platforms, first Mirel, a family of biobased and biodegradable polymers. Second, industrial chemicals initially focused on C4 and C3 biobased chemicals as dropped in replacements for conventional chemicals. And third, crop-based activities which include our programs in switchgrass, oilseeds and sugarcane. All of these efforts are enabled by our PHA or polyhydroxyalkanoates technology around which we have over 700 patents either awarded or pending.

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