Under the new partnership Pepsi will fund Senomyx's Salt Taste Program for 2014. Pepsi will gain non-exclusive rights to the salt flavor modifiers during the funding period, and Senomyc will have the right to supply the flavors directly to the soda maker.
Financial terms of the agreement were not disclosed.
"We are pleased to establish this new type of research agreement, which provides research funding to Senomyx while retaining our ability to add potential new flavor offerings to our direct sales portfolio," Senomyx president and CEO John Poyhonen said in a press release.
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TheStreet Ratings team rates SENOMYX INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SENOMYX INC (SNMX) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income and disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: