Amyris reports earnings Tuesday; focus on ramp-up expected

In California, Amyris reports its Q1 earnings tomorrow (Tuesday, May 8).

Cowen & Company’s Rob Stone writes: “There could be downside, since the majority of revenue still comes from the non-core fuels distribution business. However, we think a bigger focus will be on progress ramping farnesene production and meeting partner development milestones. We believe the decision to not provide any targets for production is a big part of lost confidence in the stock. Therefore, more transparency on production volume and other parameters of Q1 output should be welcome. The appointment of a new CFO offers a chance to provide greater clarity on the model and the sometimes complex accounting for Total R&D funding. The departure of Neil Renninger (CTO and founder) gives us less comfort, though he will remain on the board.”