Shares of Amyris (NASDAQ: AMRS) are higher after the bioscience company issued an update on certain aspects of its business and financial results for 2016. Amyris reported three key updates: record revenue in both collaborations and product sales for 2016; near-term debt maturities resolved; and the completion of strategic transition out of commodity products. “We are pleased to have achieved a record year of revenue growth, and of having completed all of the 2016 strategic milestones we set out to, and we continue to make good progress on our debt structure by having resolved our near-term debt maturity issues in pushing out approximately $44 million in debt as announced just before year end,” president and CEO John Melo stated in the news release. “Also, we are meeting our expectations in securing collaborations that will result in future product sales and this is accelerating our growth rate.” Amyris said it will provide more detail on its financial results for 2016 after the close of market on March 2, 2017, and plans to host an investor day in May.
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About Amyris
Amyris is an integrated renewable products company focused on enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, and pharmaceuticals and nutraceuticals. More information about the company is available at www.amyris.com.
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