amyris inc (AMRS) Key Developments
Bernstein Liebhard LLP Files a Class Action Against Amyris, Inc
May 23 13
Bernstein Liebhard LLP announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of a class of purchasers of Amyris, Inc. securities between April 29, 2011 and February 8, 2012, inclusive the Class Period. Defendants are alleged to have violated the federal securities laws, specifically Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Defendants in the case are Amyris and CEO John G. Melo.
Milberg LLP Files Class Action Against Amyris, Inc. Alleging Violations of U.S. Federal Securities Laws
May 15 13
Milberg LLP has filed a federal securities class action against Amyris, Inc. alleging violations of the Securities Exchange Act of 1934. The action, filed in the United States District Court for the Northern District of California, is on behalf of purchasers of Amyris securities between April 29, 2011 and February 8, 2012, inclusive. Defendants' are alleged to have violated the federal securities laws, specifically Section 10(b) and 20(a) of the Securities Exchange Act of 1934. Defendants in the case are Amyris and CEO John G. Melo. According to the complaint, throughout the Class Period Amyris's priority was the commercialization and production of Biofene and its derivatives for sale in a range of specialty chemical applications. The complaint further alleges that defendants represented to investors hat it had the ability to produce Biofene in commercially meaningful volumes, and that such representations were materially false and misleading because in fact Amyris could not produce Biofene in the amounts represented.
Amyris Appoints R. Neil Williams as Member of Board of Directors and the Chair of the Audit Committee
May 13 13
Amyris, Inc. announced the appointment of R. Neil Williams, Chief Financial Officer of Intuit, as a member of Amyris's Board of Directors and the Chair of the Audit Committee. R. Neil Williams has been Senior Vice President and Chief Financial Officer of Intuit, Inc. since January 2008.
Amyris, Inc. Approves the Amendment to Certificate of Incorporation
May 10 13
Amyris, Inc. at its AGM held on May 9, 2013, approved the amendment to the company's certificate of incorporation.
Amyris, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013 ; Provides Sales Guidance for the Year 2013 and Cash Flow Guidance for the Year 2014
May 1 13
Amyris, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $7,869,000 compared to $29,469,000 a year ago. Loss from operations was $31,672,000 compared to $94,053,000 a year ago. Loss before income taxes was $32,079,000 compared to $94,652,000 a year ago. Net loss attributable to company’s common stockholders was $32,614,000, or $0.44 per basic and diluted share compared to $94,548,000 or $1.88 per basic and diluted share a year ago. Net loss attributable to company’s common stockholders (non- GAAP) was $28,421,000, or $0.39 per basic and diluted share compared to $51,375,000, or $1.02 per basic and diluted share a year ago. Capital expenditures, net of disposals, were about $2 million for the quarter.
The company expects renewable product sales revenue to be in the $30 million to $40 million range for the full year of 2013.
The company also continues to expect to achieve cash-flow-positive company operations in 2014.