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 gapped up sharply Friday, but gradually declined for the bulk of the session. The stock closed down by 0.45 at $8.60 on strong volume. Solazyme closed challenging the upper end of a month and a half long range.
by RTT Staff Writer
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