Shares of Verenium (VRNM) nearly doubled at the open this morning before giving much of it back after it was announced that BP would purchase their cellulosic biofuels business for $98 million which includes facilities in Jennings, LA and San Diego, California.  Verenium retains its commercial enzyme business and retains the right to develop its own cellulosic enzyme program, select R&D capabilities and access to select biofuel technology developed by BP.

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