NASDAQ Morning Movers; Amyris (NasdaqGS: AMRS) Gains over 27% Following Third Quarter Results
Category: Investment, Renewable Energy
News about Amyris, Inc.
New York, New York - November 7, 2012 (Investorideas.com renewable energy newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors, reports on the top percentage gainers on the NASDAQ for November 7th. In spite of a massive sell off following the election results, there are a few winners in the market for investors. Amyris, Inc. (NasdaqGS: AMRS) is trading at $ 3.3150, up 0.7250 or 27.99% as of 11:18AM EST on over 1.1 Million shares following third quarter results.
Aggregate revenues for the quarter ended September 30, 2012 were $19.1 million versus $36.3 million in the third quarter of 2011. The decline in revenue was due to the Company's planned transition out of the ethanol and ethanol-blended gasoline business, which is now complete. Partially offsetting this decline were increased revenues from renewable products sales and collaborations, primarily related to the amendment of the Company's collaboration agreement with Total.
Total research & development and sales, general & administrative expenses declined 26% to $33.1 million for the quarter from the same quarter the prior year primarily due to lower compensation and benefits expense.
Amyris is an integrated renewable products company focused on providing sustainable alternatives to a broad range of petroleum-sourced products. Amyris uses its industrial synthetic biology platform to convert plant sugars into a variety of molecules -- flexible building blocks that can be used in a wide range of products. Amyris's initial portfolio of commercial products is based on Biofene(R), Amyris's brand of renewable farnesene, a long-chain hydrocarbon. Amyris is commercializing these products both as No Compromise(R) renewable ingredients in cosmetics, flavors and fragrances, polymers, lubricants and consumer products, and also as No Compromise renewable diesel and jet fuel. Amyris Brasil Ltda., a subsidiary of Amyris, oversees the establishment and expansion of Amyris's production in Brazil. www.amyris.com.
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