Verenium Soars As BP Announces The Purchase Of VRNM’s Biofuels Business

Shares of Verenium Corporation VRNM are soaring after the BP Plc BP announced the purchase of VRNM’s biofuels business. VRNM’s shares jumped up 74.39% to settle around $4.29 at 9:42 am EDT. BP has areed to purchase the biofuels business in California from VRNM for $98.3 million. The company has also promoted Janet Roemer to the post of President and Chief Operating Officer. Verenium’s shares have risen 11.31% over the past week, while they have lost 45.33% so far this year. Read more from Benzinga's Markets.