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Amyris, Inc. (Nasdaq: AMRS) is a pioneering synthetic biotechnology company that leverages its Lab-to-Market™ technology platform to facilitate the world's shift towards sustainable consumption. Founded with the vision of transforming the Clean Health & Beauty and Flavors & Fragrances markets, Amyris specializes in converting plant sugars into essential hydrocarbon molecules, specialty ingredients, and consumer products using innovative bioscience solutions. The company's proprietary technology platform utilizes advanced machine learning, robotics, and artificial intelligence to bring new innovations to market at commercial scale, resulting in products incorporated into over 20,000 items from leading global brands, impacting more than 300 million consumers.
Recently, Amyris has undergone significant changes to optimize its operations and financial health. In June 2023, the company announced the resignation of its President & CEO, John Melo, with Han Kieftenbeld stepping in as Interim CEO while continuing his role as CFO. This leadership change aligns with Amyris' broader strategy to streamline its business and achieve cost reduction targets, including a global reduction in force and collaboration with PricewaterhouseCoopers (PwC) to implement 'Fit-to-Win' cost actions estimated at $250 million.
Further advancing its strategic transformation, Amyris commenced voluntary Chapter 11 proceedings in August 2023 to restructure its operations and financial framework. This restructuring aims to enhance the company's cost structure, capital position, and liquidity, allowing it to refocus on its core competencies in research and development, commercialization, and the application of sustainable ingredients through biofermentation. As part of this effort, Amyris plans to exit from its consumer brands, marketing them for sale while continuing to operate them through retail and e-commerce platforms during the transition.
Amyris has secured $190 million in debtor-in-possession financing from Foris Ventures to support its daily operations and meet its commitments to employees, customers, and partners throughout the restructuring process. The company is committed to maintaining its innovative edge and remains dedicated to introducing sustainable, effective, and accessible products to market, ensuring a path toward profitable growth and sustained cash generation.
More information about Amyris and its ongoing projects and initiatives can be found on their official website, www.amyris.com.
Amyris announced the closing of its acquisition of Beauty Labs International Ltd. on August 31, enhancing its position in the clean beauty market. The acquisition integrates AI technology to improve customer experiences through personalized cosmetic recommendations. This strategic move aims to boost ecommerce revenue across Amyris brands, leveraging data science for better consumer engagement. CEO John Melo emphasized that Amyris is achieving significant revenue growth compared to peers. The integration of Beauty Labs technology is already showing promising early results, indicating potential for further growth.
Amyris, Inc. (Nasdaq: AMRS) announced the closing of acquisitions of OLIKA, Inc. and MG Empower Ltd. on August 11. OLIKA is known for its clean consumer products, particularly hydrating hand sanitizers, recently expanding its retail presence. MG Empower, a digital marketing agency, partners with global brands to drive influencer marketing innovations. CEO John Melo expressed optimism about these acquisitions, indicating they will generate new revenue and enhance growth capabilities for Amyris.
Amyris, Inc. (Nasdaq: AMRS) has launched Rose Inc., a clean color cosmetics brand created in collaboration with Rosie Huntington-Whiteley. The first collection, Modern Essentials, features products that are vegan, cruelty-free, and made with sustainable ingredients like Squalane. Registration for exclusive sales opens on August 24, 2021, with a global launch on August 27, 2021. Amyris aims to set a new standard in ethical and effective beauty products, leveraging its biotechnology platform to enhance product performance and sustainability.
Amyris, Inc. (Nasdaq: AMRS) announced positive in-vivo results for its licensed RNA vaccine, developed with the Infectious Disease Research Institute (IDRI). The study demonstrated that intranasal delivery generates antibodies and provides upper respiratory protection against SARS-CoV-2, potentially enhancing immunity compared to existing vaccines. Targeted for underserved countries, this vaccine is expected to enter human trials in South Africa next year. The company continues to explore a nasal delivery system to improve accessibility and effectiveness against respiratory diseases.
Amyris, Inc. (Nasdaq: AMRS) launched Terasana™ Clinical, marking its entry into the clean skincare market. The first product, Clear + Control Healthy Skin Serum, targets dry skin and blemishes, showing a 92% reduction in blemishes in clinical trials. The serum combines Squalane and Cannabigerol (CBG), both sustainably sourced. The launch is part of a strategy to introduce three new brands this summer, projected to boost revenue significantly in the second half of the year. Terasana Clinical emphasizes clean, effective formulations and eco-friendly packaging.
Amyris, Inc. (Nasdaq: AMRS) announced the continuation of its virtual investor mini-series, themed "Delivering on the Promise of Synthetic Biology." The fourth webinar is scheduled for September 28, 2021, focusing on its innovative cannabigerol (CBG) ingredient. The company reports strong demand for its ingredients and is launching three new consumer brands this month. CEO John Melo highlighted the robust growth expected in the second half of the year driven by these new launches and accelerated sales from existing brands.
Amyris, a synthetic biotechnology firm, reported Q2 2021 financial results with total revenue of $52.3 million, a 74% increase YoY. Underlying revenue rose 41% to $42.3 million, marked by a 59% surge in consumer sales. The company achieved a GAAP net income of $15 million versus a loss of $104 million last year. Cash at quarter-end totaled $215 million. Despite increased cash operating expenses of 46%, adjusted EBITDA improved, signaling positive operational momentum. The firm anticipates revenue exceeding $400 million for the year and aims for $2 billion by 2025.
Amyris, Inc. (Nasdaq: AMRS), a leader in synthetic biotechnology focusing on sustainable health, beauty, and wellness markets, announced that CEO John Melo will present at the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 10, 2021, at 9:55 am ET. A live webcast and replay of the presentation will be available on the company’s Investor Relations website. Amyris develops sustainable ingredients used in over 20,000 products globally.
Amyris, Inc. (Nasdaq: AMRS) announced a partnership with Naomi Watts to launch a menopause-focused wellness brand. By 2025, over 1 billion people will experience menopause, highlighting the need for effective personal care products. The new brand aims to destigmatize menopause and provide clean, science-backed solutions. Leveraging its Lab-to-Market™ technology, Amyris seeks to lead this emerging market segment. The brand launch is expected in 2022 and will complement Amyris' existing family of consumer brands, which emphasize sustainable ingredients.
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