AMRS stock continues to attract buyers on breakout performance of its Clean Beauty product line.
On January 23, 2020, Amyris, Inc. (Nasdaq: AMRS) announced the leader of clean beauty, Biossance™ is coming to the UK this month and is setting a new standard in the beauty industry’s commitment to sustainable products. Biossance will land on Cult Beauty, which is one of the UK’s fastest-growing online beauty businesses with significant market presence and a reputation for choosing the best performing, coolest cult products the world has to offer.
Pioneering sustainable beauty through biotechnology and known for innovating the first renewably sourced, 100% plant-based squalane – the mega-moisturising molecule that keeps skin healthy and hydrated – Biossance first launched in 2015. Its No Compromise® approach underpins the core of the brand which sees upwards of 2,000 questionable and potentially toxic ingredients banned in the use of its products, surpassing Europe which leads the way globally, with 1,367+ not allowed for cosmetic use.
Since launching into Sephora stores in 2017, Biossance has become one of the top selling brands within its stores today and is Sephora’s first and only EWG Verified™ (Environmental Working Group) beauty brand. The brand has set the global standard for clean beauty by creating clinically proven, effective products made from vegan, cruelty-free ingredients and sustainably sourced packaging. All products are dermatologist tested, non-comedogenic and suitable for all skin types, including sensitive skin.
The early success of the brand has led to rapid expansion beyond the US into Canada, Brazil, Mexico, Southeast Asia, Australia, New Zealand and now the UK. This strong expansion speaks to the change happening with consumers’ thirst for brands whose products deliver great performance, whilst also being good for the planet.
“We are proud to continue our global expansion into the UK market by introducing the best performing skincare with clean and sustainable formulas that deliver unprecedented results,” said Catherine Gore, President of Biossance. “Our products use the most effective and conscious ingredients. We want our consumers to know that what they are putting on their skin is good for them, the environment and is ultimately giving them their healthiest skin yet.”
The brand’s commitment to people and planet extends to every aspect of the company and its supply chain to do better and be leading pioneers in sustainable beauty. This includes renewable resources, planet-first processes and ready-to-recycle, FSC certified conscious packaging, with outer boxes made from sustainable sugarcane fibre.
In June 2019, Biossance announced TV personality, podcaster, comedian and beauty expert to the stars, Jonathan Van Ness, as its first brand ambassador. Jonathan has played a pivotal role in helping Biossance to launch The Clean Academy™, an educational initiative designed to become the complete clean beauty resource for consumers and industry alike, empowering everyone to make smart choices. The brand’s partnership with Jonathan Van Ness marks a milestone in visibility for the brand to advance its mission to make clean the new standard in beauty.
On January 13, 2020, Amyris (Nasdaq: AMRS) reported record production for the fourth quarter of 2019. In addition, the company’s Clean Beauty business continued its breakout performance.
The company executed very well operationally during fourth-quarter 2019 toward meeting its customer product requirements and delivered record recurring sales in 2019 that more than doubled prior year performance. These product volume results were driven by strong market and consumer demand for clean and natural products that are sustainably sourced from fermentation as well as the competitively differentiated high performance of the company’s ingredients and products.
“Our team executed very well in producing and shipping record volumes in the fourth quarter and extended our leading role in bringing high performance renewable products to more and more consumers,” said John Melo, President and CEO of Amyris. “We are off to an excellent start for 2020 and are particularly pleased by our Clean Beauty performance which is tracking to again more than double sales in 2020. Our January 2019 Biossance results were very strong and, on a comparative basis, already in the first 12 days of January 2020 we are delivering more than 190% growth over last year.”
Continued Melo, “Our technology advantage, growth trajectory and reputation as the only company in our sector to have scaled multiple products with commercial success has provided us with opportunities to apply our intellectual property to disrupt markets and fund the business. This positioning is helping provide us greater scale and the means to meet our financing needs with market participants that are familiar with our leadership in synthetic biology. We delivered record volumes to each of our major customers and 8 of our 10 fermentation-based products are now enjoying market leadership. We expect 2020 to be another great year with the very strong potential to once again more than double our recurring revenue and set new records for our current customers while celebrating the commercialization of our first cannabinoids.”
On February 3, 2020, Amyris was able to raise a lot of money for further expansion. The company announced that it entered into definitive securities purchase agreements in a $112M recapitalization anchored by Foris Ventures, an entity affiliated with Amyris board member John Doerr, a large mutual fund investor and several other long-term holders. Foris exercised existing warrants to purchase common stock at $2.87 to facilitate the conversion of approximately $70M of debt into common stock. In addition to the debt reduction, the company raised $42M in new financing led by one of the largest global mutual fund investors, Foris and several other long-term holders. The agreements are for the sale of 14,749,117 shares of common stock at $2.87 per share and rights to purchase up to 9,871,731 shares of common stock at $2.87 per share for a period of 12 months. About half of the 14.7M shares are from outstanding warrants that were converted in this transaction.