GAAP net loss attributable to Amyris common stockholders for the recently ended quarter was $53.2 million, or $1.03 per diluted share, compared with a GAAP net loss attributable to Amyris common stockholders of $2.9 million, or $0.06 diluted share in the comparable period a year ago.
Amyris’ previous quarter earnings calls audios
The agreement between Amyris and LAVVAN, Inc., a newly-formed company backed by leaders across the pharmaceutical, cannabis, and financial sectors, intends to bring the first fermentation-derived cannabinoid products to market.
“Our results for the quarter and year are below expectations,” said CEO John Melo. “The negative results for the quarter and full year reflect the inability to recognize revenue for a $50 million multi-party Vitamin E deal in China during the fourth quarter. Our financial results for the fourth quarter were also impacted by a 30-day delay to our manufacturing scale-up and production of our natural sweetener product,” he added.
The company said that the sweetener issues were quickly resolved in the first quarter of 2019. Melo added that Amyris has undertaken a thorough review of its business plan for 2019 and will take a more conservative approach in assessing likely revenue opportunities.
Amyris stock ended today’s trading session at $3.81, down 3.05%.
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