Metabolix, Inc. (NASDAQ: MBLX), a bioscience company focused on developing clean, sustainable solutions for plastics, chemicals and energy, today reported financial results for the three months ended June 30, 2009.

The Company reported a net loss of $9.7 million or $0.42 per share for the second quarter of 2009 as compared to a net loss of $8.9 million or $0.39 per share for the second quarter of 2008.

The Company’s net cash used for operating activities during the second quarter of 2009 was $4.0 million, which compares to net cash used of $3.8 million for the comparable quarter in 2008. Unrestricted cash and short-term investments at June 30, 2009 totaled $77.6 million. The Company has no long-term debt.

SECOND QUARTER AND FIRST HALF 2009 FINANCIAL OVERVIEW

Metabolix used $4.0 million of net cash in operating activities for the second quarter 2009, which compares to net cash used of $3.8 million for the comparable quarter in 2008. Metabolix currently manages its finances with an emphasis on cash flow. The increase in cash used for operating activities during the three months ended June 30, 2009 as compared to the respective period in 2008 was primarily due to expansion of activities in advance of the start-up of the Clinton manufacturing facility. Cash usage was also affected by the timing of quarterly support payments and pre-commercial cost sharing payments received from Archer Daniels Midland Company (ADM) and by reduced investment income driven by lower investment yield in 2009. The Company expects its net cash used in operating activities to increase from this level in the next quarters as it expands its operations in advance of the full commercialization of Mirel™ bioplastics.

Through the first six months of 2009 ending June 30^th, net cash used in operating activities was $12.6 million, as compared to net cash used of $8.3 million for the comparable period of 2008. The year-over-year increase in cash usage for the first six months of 2009 is primarily attributed to decreased cash receipts in 2009 versus 2008. This decrease in cash receipts for the first six months of 2009 is a result of timing of pre-commercial cost sharing payments received from ADM, a decrease in funds received from investment income, a decrease in proceeds received from the exercise of stock options, and lower grant revenue from the Strategic Environmental Research Development Program grant that expired in February 2009.

Total revenue in the second quarter of 2009 was $0.3 million, which included revenue recognized from delivery of Mirel sample product (included in research and development revenue), license fees and royalties, and government research grants. This compared to $0.4 million in the same period of 2008. The year-over-year decrease in quarterly revenue was primarily attributed to lower grant revenue as a result of a decrease in billable activity related to the Strategic Environmental Research Development Program grant that expired in February 2009. Revenue for the six months ended June 30, 2009 was $0.6 million compared to $0.8 million in the same period of 2008, and the year-over-year decrease was primarily related to lower sample product revenue and lower grant revenue.

For the three months ended June 30, 2009, total operating expenses were $10.3 million as compared to $10.1 million for the comparable quarter in 2008. The majority of the year-over-year increase in quarterly expenses related to increased spending on research and development associated with the hiring of additional personnel needed to support the Company’s pre-commercial manufacturing processes for Mirel as well as microbial and plant research programs. These were partially offset by lower pre-commercial manufacturing costs.

For the six months ended June 20, 2009, total operating expenses of $20.0 million were essentially in line with results for the comparable six months in 2008 as higher research and development expenses were offset by lower general and administrative expenses.

The net loss for the six months ended June 30, 2009 was $18.8 million compared to $17.4 million for the comparable six months of 2008. The modest increase in the year over year loss for the comparable six month period relates to the aforementioned decrease in revenue and lower net interest income.

The loss per share for the six months ended June 30, 2009 was $0.82 compared to $0.76 in the year ago period.

BUSINESS UPDATE

Richard Eno, President and Chief Executive Officer, commented, "We are rapidly approaching the startup of the first commercial scale plant in Clinton, Iowa, now under construction by Archer Daniels Midland for our Telles joint venture. Operators have been trained, market demand for Mirel remains strong, and plant start-up timing is consistent with the time frame outlined in our first quarter earnings release. We are optimistic that as operations at the Clinton plant commence we will be able to satisfy the growing needs of our existing customers and convert our large pipeline of leads into new customers. We believe the markets for our Mirel products are substantial and that our unique value proposition will continue to command premium pricing.”

Conference Call Information

Richard Eno, the Company's President and CEO, and Joseph Hill, CFO, will host a conference call on Wednesday, July 29, 2009, at 4:30 p.m. (Eastern Time) to discuss these results. To participate, dial toll-free 1-800-260-6066 or 1-913-312-1278 (international). The passcode is 8148088. The conference call will be webcast and can be accessed from the Company's website at www.metabolix.com in the investor relations section.

To listen to a telephonic replay of the conference call, dial toll-free 1-888-203-1112 or 1-719-457-0820 for international callers and enter passcode 8148088. The replay will be available beginning at 7:30 p.m. (Eastern Time) on July 29, 2009 and will remain available through 11:59 PM (Eastern Time) on August 5, 2009. In addition, the webcast will be archived on the Company's website in the investor relations section.

About Metabolix

Founded in 1992, Metabolix, Inc. is an innovation driven bioscience company focused on providing sustainable solutions for the world’s needs for plastics, chemicals and energy. The Company is taking a systems approach, from gene to end product, integrating sophisticated biotechnology with advanced industrial practice. Metabolix is now developing and commercializing Mirel™, a family of high performance bioplastics which are biobased and biodegradable alternatives to many petroleum based plastics. Metabolix is also developing a proprietary platform technology for co-producing plastics, chemicals and energy, from crops such as switchgrass, oilseeds and sugarcane.

For more information, please visit www.metabolix.com. (MBLX-E)

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding completion of construction of the commercial manufacturing facility and timing of commencement of commercial production of Mirel™ bioplastics, commercial supply and pricing of Mirel, future financial performance, and management's strategy, plans and objectives for future operations, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with: the Company’s dependence on ADM for construction of the commercial manufacturing facility, ADM’s ability to complete construction of that facility on time and on budget, the ability of Metabolix and ADM to successfully manufacture Mirel at commercial scale and in a timely and economic manner, the Company’s ability to develop and successfully commercialize Mirel, market acceptance of Metabolix products, and other risks detailed in Metabolix's filings with the Securities and Exchange Commission, including its 10-K for the year ended December 31, 2008, which was filed on March 12, 2009. Metabolix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

Investor Relations:
ICR
Anthony Gallo, 203-682-8335
ir@metabolix.com
or
Media:
ICR
Brian Ruby, 203-682-8200
brian.ruby@icrinc.com