Solazyme Inc. (SZYM: Quote) announced after the bell Thursday the successful completion of multiple initial fermentations at ADM's Clinton, Iowa facility. Solazyme is initially targeting annual production of 20,000 metric tons of oil starting in early 2014 at the ADM facility, with targeted expansion to 100,000 metric tons.
Solazyme has gapped open sharply higher Friday and is now up 1.51 at $9.66 on above average volume. The stock has broken out to nearly a 2-month high and has re-crossed its 50-day moving average.
by RTT Staff Writer
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