Softbank-Backed Zymergen (ZY) Crashes Over 70% as CEO Departs, Product Revenue Not Possible in 2021 and 'Immaterial' in 2022, At Least 6 Firms Downgrade

Zymergen Provides Business Update

Jay Flatley, Chairman of the Board, Appointed Acting CEO; Josh Hoffman to Step Down

Conference Call to be Held at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time Today

EMERYVILLE, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Zymergen Inc. (Zymergen or the Company), today provided a business update regarding its commercial product pipeline and financial forecast.

Zymergen recently became aware of issues with its commercial product pipeline that will impact the Companys delivery timeline and revenue projections. Accordingly, the Company no longer expects product revenue in 2021, and expects product revenue to be immaterial... More