February 26, 2013

Amyris: Weak results, fair progress

The blog is navigating the intricacies of financial reporting after Amyris and Solazyme recently announced their fourth quarter earnings results. Accounting and financial are not my strong suits so hopefully my reporting about some of their numbers are correct.

Let's first start with Amyris, which reported good enough progress on its milestones for 2012 but unfortunately, cash flows are still in the weak-to-negative territories and operating expenses still need to be toned down.

The key here -- and a JP Morgan equity report pointed it out -- is that Amyris needs additional funding this year as new product introductions, commercialization rates and product cost profiles have been unequal to business plans. Amyris currently has $45m cash balance. The company was able to secure gross proceeds of $42.25m in equity funding by the end of December.

Amyris roll out its first truckload shipment of Biofene in January

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