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BRIEF-Metabolix updates on strategic restructuring, cash position
October 17, 2016 / 9:12 PM / a year ago

BRIEF-Metabolix updates on strategic restructuring, cash position

Oct 17 (Reuters) - Metabolix Inc

* Metabolix names Yield10 Bioscience Management team; provides update on strategic restructuring and cash position

* Metabolix -CEO Joseph Shaulson is stepping down and will provide transition support to management team through end of 2016

* Metabolix Inc- Shaulson will also remain on company’s board of directors

* Metabolix -ceased pilot production of biopolymer materials,reached agreements with biopolymer pilot production facilities regarding termination of services

* Metabolix-Estimates cash on hand with expected cash receipts from outstanding government research grants to be sufficient for operations into q4 2017 Source text for Eikon: Further company coverage:

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