AMRS stock is moving in after-hours trading on December 11, 2019.

AMRS stock rips in after-hours trading on December 11, 2019.

Oppenheimer analyst Colin Rusch initiated coverage of Amyris with an Outperform rating and $8 price target.

On December 4, 2019, Biossance, a pioneering clean skincare brand from Amyris, Inc. (Nasdaq:AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today announced that its sales on for Cyber Monday, on December 2, were up over 3X from last year and resulted in the highest one-day sales in the brand’s history. Product sales through have been comprising a greater portion of sales channel mix and these sales deliver much higher margins.

Sephora North American sales, Biossance Brazil sales and those within new global markets also delivered solid performance during the quarter thus far and are incremental to the sales. Overall, Biossance is experiencing significant consumer adoption across all the brand’s geographies with particularly strong recent international performance in Brazil and Australia.

“We are pleased with our sales results as brand momentum for Biossance continues through the holiday season,” said Catherine Gore, President of Biossance. “Consumers continue to seek out effective clean beauty skin care products from responsible companies and Biossance is at the forefront of that trend in offering the only EWG verified products at Sephora that provide the best performance and are safer for them and their families. We are very pleased with the consumer love this year and the continued growth Biossance is realizing. We are tracking well to finish the quarter at a $50 million annualized sales rate.”

Biossance is setting the standard for clean beauty and leveraging the consumer trend toward clean, sustainable ingredients that also deliver the best skin care performance they can expect. This is the No Compromise® promise of Biossance products that the brand’s customers have come to know and love.

On November 18, 2019, Amyris announced that it is moving into the regulatory stage with a new, undisclosed health and nutrition molecule. Amyris has proven its capability to produce health and nutrition molecules at commercial scale with three others; artemisinin, vitamin E and, most recently, Reb Amyris developed a process for this ingredient that enables the highest purity at the lowest cost and has now successfully manufactured material via large scale fermentation. The company plans to submit formal regulatory filings for this ingredient (currently not being named due to partner’s requirements) where required for rapid approval and market entry during the first half of 2020.

“Our ability to speed time to market at lower cost and with better purity is why the leading companies continue to rely on Amyris,” said John Melo, Amyris President and CEO. “This molecule serving a large market in the health and nutrition space, is another example of our development success and we are pleased to be readying it for regulatory approval. We are pleased with our continued delivery momentum in the fourth quarter and the potential of 2020 delivering a record year for new product launches and for the health and nutrition business becoming our largest revenue activity. We are very excited about the continued potential of synthetic biology to deliver a significant impact in making the world healthier one molecule at a time and our transition to profitable growth.”

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