Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Diversa Corporation (DVSA) -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (125)	12/19/2006 5:22:04 PM
From: tuck	Read Replies (1) \| Respond to of 144

>>Diversa Corporation Announces FDA GRAS Approval of Its Purifine(TM) Enzyme Tuesday December 19, 4:35 pm ET Novel Enzyme Increases Oilseed Processing Efficiency for Biodiesel Fuel and Edible Oil Production SAN DIEGO, Dec. 19 /PRNewswire-FirstCall/ -- Diversa Corporation (Nasdaq: DVSA - News), a leader in the development of high-performance specialty enzymes, today announced that its Purifine(TM) enzyme has obtained GRAS (Generally Recognized As Safe) approval from the U.S. Food and Drug Administration (FDA) for edible oil applications. This food-application approval follows the September 28th approval by the Environmental Protection Agency (EPA) for non-food applications, including the use of Purifine enzyme for increasing the efficiency of oilseed processing for the production of biodiesel fuel. Purifine enzyme facilitates a novel degumming process designed to increase the oil yield and reduce low-value byproducts by removing oil phospholipids in the oil refining process. The total yield increase is expected to vary between 1-2%, depending on the phospholipid content of the crude vegetable oil. The enzyme has been developed to be compatible with current processing technologies, and, therefore, minimal capital investment is anticipated to be required to obtain the significant yield benefits that can be achieved with Purifine enzyme. "The FDA GRAS approval has come earlier than anticipated and will allow us to accelerate the full commercial launch of Purifine enzyme," said Edward T. Shonsey, Diversa's Chief Executive Officer. "We now have the flexibility to initiate full-scale trials in oilseed plants in the U.S. that refine vegetable oil for either food or biofuel applications, or both, greatly increasing the number of plants that can potentially adopt our improved enzymatic degumming process." The oilseed processing market is highly concentrated and dominated by three major players. Diversa intends to market Purifine enzyme directly to these leading oilseed processors. Diversa will manufacture Purifine enzyme under its agreement with Fermic S.A. de C.V. According to the 2006 Soya and Oilseed Bluebook, the estimated worldwide production of high phosphorus oils (soybean, canola, sunflower) will be more than 58 million metric tons in 2006. Diversa estimates the addressable market for Purifine enzyme within the global oilseed processing market to be approximately $200 million annually.<< snip After closing off some, and getting me tempted to buy, this comes out and the stock has tacked on 7% or after hours. This is the second time today a stock I almost bought the day before would have rewarded my actually buying it the day before. KERX being the other. OTOH, had I bought PANC the day before, which I was also considering, I would have been unhappy. Cheers, Tuck