Amyris Inc (NASDAQ:AMRS) Surges On Back Of 2014 Guidance And 4Q Revenue Jump
Amyris Inc (NASDAQ:AMRS) which is a small capped drug maker saw its market valuation balloon upwards by 26.3 percent during trading on 26th February, after the firm reported strong results from its fourth quarter operations and provided a aggressive guidance for its FY14 operations. The drug maker which is co owned by Total SA indicated that it is all set to restart production operations at its now idle manufacturing set up in Brazil. On the back of the pickup in production and sales activity, the drug maker has forecasted return to profitability in 2014.
Amyris Inc (NASDAQ:AMRS) reported revenues of $15.4 million from its 4Q operations for the fourth quarter of 2013 which was three times more than 4QFY12 revenue of $5.9 million. Highlighting the achievements in 2013 operations John Melo who is Amyris Inc (NASDAQ:AMRS) Chief Executive Officer has been quoted to have said that, “we delivered our best financial results, technology progress and operational performance to date. This year, we successfully scaled our production and demonstrated that our farnesene strain can perform as well at Brotas as in our labs in California. The combination of continued technological and operational improvements allowed us to reduce farnesene production costs from $12 per litre to $4 per litre.”
Providing a strong guidance for its FY14 operations, Amyris Inc (NASDAQ:AMRS) reported that it expects new cash flow from operations to come in the $100 to $115 million range for FY14 on the back of close to doubling of sales over its FY13 sales figures. It hopes to set aside $80 million towards research and development and capital expenditures for the full year operations in FY14. It is also aiming at commencing “cash payback” towards it Brotas bio refinery by 2016. The funding for the same is expected to come in from $15 million cash generated during 2014 and $50 million generated in 2015.