date:Nov 15, 2013
were derived from deferred royalty payments from ADM for CLARISOY that were recognized in the quarter.
While ADM reported its first commercial sale of CLARISOY from its semi-works facility in December 2012, suggesting CLARISOY commercialization would expand in calendar 2013, the subsequent royalty revenues from CLARISOY sales have been marginal due to lengthy product development cycles typical of major brands in the food and beverage industry.
Research and development expenses in the second fi