Through Amyris, Inc. (NASDAQ:AMRS), Biossance has launched The Illuminator, a dual peptide eye gel that comes with proven and tested clinical solution.
Amyris has also issued its earnings report for the second quarter and first half of the fiscal year (FY) 2016 earlier this month.
The Illuminator is a nontoxic, organic product that helps reduce dark circles and bagginess around the eyes. Its ingredients play significant roles in lymphatic drainage. Specifically, the product is proven to improve cutaneous microcirculation.
Katey Denno, a trusted celebrity makeup artist, boasted that The Illuminator is a promising solution that keeps consumers always fresh on the go.
Caroline Hadfield, Amyris Senior Vice President (SVP) of Personal Care, suggested that organic products are now more prominent than ever as consumers become more environmental friendly. Consequently, the product line of Biossance appeals highly to the consumers not just for their respective safety and efficacy features but also for their organic manufacturing.
Q2 Financial Highlights
For the period, Amyris had a revenue of $9.60 million, which is up year-over-year from $7.80 million. Product revenue jumped 47% year-over-year to $4.90 million from $3.30 million, primarily accounting for the surge in consolidated revenue. Meanwhile, Collaboration and Grants revenue accounted for nearly 50% of the consolidated revenue.
The company had a net loss of $13.60 million, which is equivalent to a net loss of $0.06 per common share.
Selling, General, and Administrative (SG&A) expenses declined 21% year-over-year to $11.40 million.
The second quarter marks the company’s best-performing three-month period in terms of new collaborations. During the period, Amyris has sealed respective deals with Bill & Melinda Gates Foundation, Biogen Inc (NASDAQ:BIIB), Ginkgo Bioworks, Givaudan S.A. (VTX:GVN), and Janssen Biotech, Inc.
H1 Financial Highlights
For the first half of the full-year 2016, Amyris had a total of $18.40 million in revenue, which is up year-over-year from $15.70 million. The increase in consolidated revenue is highly driven by the 47% rise in Product revenue. Meanwhile, Collaboration and Grant revenue accounted for more than half of the consolidated revenue for the period.
The company had a net loss of $28.90 million, which is equivalent to a net loss of $0.13 per common share.