BioAmber narrows loss for Q3 as succinic acid sales rise

In Minnesota, BioAmber announced a net loss of $9.0 million, or $0.48 per share, for the three months ended September 30, 2013, compared to $11.6 million, or $1.12 per share, for the three months ended September 30, 2012.

Highlights including achieving the final development milestone for the yeast licensed exclusively from Cargill, sales of $866,000 in bio-succinic acid in Q3 2013. The sales generated a gross margin of 24%. BioAmber stated that it had reduced its monthly operating cash burn to $1.68M in Q3 2013, 17% lower than Q2 2013.

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