BioFuels Journal

Emeryvilla, CA - May 10, 2016 - Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced financial results for the first quarter ended March 31, 2016.

"The financing announced today in our SEC filings, along with proceeds from our previously announced plan for strategic asset divestments and other cash generating activities, provides us the capital to support our business plan for the year," said John Melo, Amyris President & CEO.

"We are successfully expanding our collaboration portfolio, executing on several significant farnesene supply agreements for disruptive applications for our partners, and growing our overall sales of high-value, No Compromise® ingredients.

"While we still have work to do, we believe we are currently on track to deliver on our goal of becoming a self-sustaining business by the end of this year."

Continued Melo, "We thank our investors, including the Bill & Melinda Gates Foundation, for their continued strong financial support in helping our company to deliver on its mission to make renewable products mainstream while saving lives and reducing the impact of a growing population on our planet's resources."

Key Highlights

Other key operating and development highlights during the first quarter and more recently included:

• Signed five-year Biofene® supply agreement with leading nutraceuticals company with over $100 million of expected value and an expected revenue contribution of approximately $9 million in 2016, and with minimum annual purchase commitments in each of the remaining years of the agreement

• Announced program to reduce the cost and increase access to Amyris's leading malaria treatment, which included a $5 million equity investment from the Bill & Melinda Gates Foundation expected to close in May 2016

• Closed a convertible note financing of $15 million with an existing investor on May 9, 2016

• Closed a $20 million private placement of unsecured promissory notes to existing investors in February 2016

Financial Performance

• Revenues were $8.8 million, compared with $7.9 million for the first quarter of 2015.

The increase from the first quarter of 2015 was due to a 50% increase in product sales, from $2.1 million to $3.1 million, driven by continued growth in our personal care business.

Approximately 92% of our Q1 2016 product sales related to the personal care business, which represents stronger margins than our industrial business.

Collaboration and grants revenues contributed $5.7 million to total revenues for the quarter, which was flat compared to the first quarter of 2015.

• Q1 2016 selling, general and administrative expenses of $12.3 million represented a decline of 15% from the year ago quarter, reflecting the ongoing actions taken to reduce operating expenses.\

• Net loss attributable to Amyris common stockholders for the first quarter of 2016 was $15.3 million, or $0.07 per basic share and $0.12 per diluted basis.

Included in the net loss were several non-cash related items, including a net loss from debt extinguishment, and changes in fair value of derivatives.

Adjusted net loss, excluding these items, and excluding stock-based compensation, was $34.7 million, or $0.17 per basic share.

For more information, please contact Peter DeNardo at 510-740-7481.

See Related Websites/Articles:

• Amyris

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