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Zymergen Provides Business Update

Zymergen Provides Business Update
Zymergen Inc.
Jay Flatley, Chairman of the Board, Appointed Acting CEO; Josh Hoffman to Step Down
Conference Call to be Held at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time Today
EMERYVILLE, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) Zymergen Inc. (“Zymergen” or the “Company”), today provided a business update regarding its commercial product pipeline and financial forecast.
Zymergen recently became aware of issues with its commercial product pipeline that will impact the Company’s delivery timeline and revenue projections. Accordingly, the Company no longer expects product revenue in 2021, and expects product revenue to be immaterial in 2022.
During the quarter, several key target customers encountered technical issues in implementing Hyaline into their manufacturing processes typical of new product and process development learnings. The Company has made significant progress towards addressing these chall ....

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Synthetic Biology Company Zymergen Plunges 68% After Saying Product Revenue Will Be 'Immaterial' in 2022, Removing CEO – NBC Connecticut

By Ari Levy, CNBC •
Updated on August 3, 2021 at 8:15 pm
Mark Neuling | CNBC
Zymergen went public at $31 a share in April and traded as high as $48.50, valuing the company at $4.8 billion.
The stock sank to $11.07 after hours on Tuesday, leaving its market cap at just over $1 billion.
The company has yet to start generating product sales and said it now expects revenue from its products to be immaterial through 2022.
A little more than three months after pricing its IPO at the top of its expected range and soaring out of the gate, Zymergen is warning investors that revenue from its experimental products won t be coming anytime soon. ....

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Why Zymergen Stock Is Plunging 76% Today

Why Zymergen Stock Is Plunging 76% Today
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.

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ZY Stock Down 74%, Zymergen Expects No Product Revenue in 2021-2022

ZY Stock Down 74%, Zymergen Expects No Product Revenue in 2021-2022
coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.

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Zymergen CEO Quits, Shares Plunge 68% as Revenue Plans Derailed

Zymergen CEO Quits, Shares Plunge 68% as Revenue Plans Derailed
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