bioamber inc (BIOA) Key Developments
BioAmber Inc. Announces Management Changes
Jan 6 15
BioAmber Inc. announced that chief financial officer Andrew Ashworth retired on December 31, 2014 and Francois Laurin has been hired to succeed Andrew as the company's chief financial officer. BioAmber also announced that long-time board member Denis Lucquin had resigned effective December 31, 2014. Andrew will continue in an advisory role to the company in the first half of 2015 to ensure a smooth transition. Francois was most recently the CFO of Alderon Iron Ore Corp. Denis Lucquin is the Managing Partner of Sofinnova Partners. Denis' decision to resign was due to his firm's policy to step down from board memberships following initial public offerings.
Bioamber Inc. Refinances $25 million Loan
Dec 19 14
BioAmber Inc. announced that it has repaid the $25 million loan that it secured in June 2013 and secured a new debt facility with funds managed by Tennenbaum Capital Partners, LLC. The new $25 million term loan has a three-year maturity and an interest-only period that defers principal repayment until at least September 30, 2015. The company has improved terms with Tennenbaum and the debt facility is expected to free up an additional $12 million of cash through to the end of 2015.
Bioamber Signs Exclusive Supply Agreement for Bio-Succinic Acid with Oleon
Dec 2 14
BioAmber Inc. announced that it has signed an exclusive supply agreement for bio-based succinic acid with Oleon. Under the terms of the 5-year contract, which runs from 2014 to the end of 2018, will supply Oleon with bio-based succinic acid for the development and production of succinate lubricants. Oleon is developing a new line of succinic acid based lubricants that target 100% carbon renewability. Oleon is combining bio-succinic acid and (bio-based) alcohols to produce a new line of lubricants for industrial uses requiring high performance, biodegradability and renewable content.
BioAmber Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2014
Nov 6 14
BioAmber Inc. announced unaudited consolidated earnings results for the third quarter ended September 30, 2014. For the quarter, the company reported product sales of $469,000 against $866,000 a year ago. Operating loss was $8,287,000 against $5,848,000 a year ago. Loss before income taxes was $8,448,000 against $8,945,000 a year ago. Net loss attributable to the company shareholders was $8,161,000 or $0.39 basic per share against $8,834,000 or $0.48 basic per share a year ago. Net cash used in operating activities was $2,253,000 against $5,342,000 a year ago. Acquisition of property and equipment was $26,746,000 against $2,494,000 a year ago. Adjusted net loss attributable to the company shareholders was $8,622,000 or $0.41 basic per share against $6,834,000 or $0.37 basic per share a year ago.
BioAmber Inc. to Report Q3, 2014 Results on Nov 06, 2014
Oct 15 14
BioAmber Inc. announced that they will report Q3, 2014 results at 4:30 PM, US Eastern Standard Time on Nov 06, 2014