Metabolix, Inc. Reports 1st Quarter Earnings

Metabolix, Inc. (NASDAQ: MBLX), a bioscience company focused on developing sustainable solutions for plastics, chemicals and energy, today reported financial results for the three months ended March 31, 2010.

The Company reported a net loss of $9.8 million or $0.37 per share for the first quarter of 2010 as compared to a net loss of $9.1 million or $0.40 per share for the first quarter of 2009.

The Company's net cash used for operating activities during the first quarter of 2010 was $9.4 million, which compares to net cash used of $8.6 million for the comparable quarter in 2009. Unrestricted cash and short-term investments at March 31, 2010 totaled $82.8 million. The Company continues to have no debt.

BUSINESS UPDATE

Richard Eno, CEO of Metabolix, stated, “We are very pleased to report that the Clinton manufacturing facility is producing Mirel™ bioplastics and that we have shipped commercial product to customers and prospects. Clinton product has satisfied our own internal testing requirements including the processing of resin into final products. This is encouraging in that it illustrates continued success in the scale-up of our technology and bodes well for the implementation of our next generation technology.”

The Company noted that it continues to be in the early stages of commercialization and therefore capacity utilization levels at Clinton are expected to remain relatively low for the next few quarters. Capacity utilization is expected to increase steadily as production processes are optimized and as demand increases through acquisition of new customers. The Company continues to see significant demand for Mirel and is focused on the ramp up of sales, the implementation of next generation Mirel technology, and the prospects for a plant expansion.

For more information, please visit www.metabolix.com. (MBLX-E)