they pivoted to low-volume, high-price beauty & personal care ingredients, which actually generated a bunch of revenue, but not enough to cover costs. and then also bought a ton of celebrity beauty brands, which didn't. 2022 stock plunge, 2023 bankruptcy.
there are kind of...zero large profitable firms founded after 2000 that specialize in industrial fermentation/biomanufacturing, EXCEPT a couple of biotechs that make enzyme drugs.
there's plenty of biomanufactured products but pretty much all from very large old boring firms at sorta commodity prices?