Amyris, Inc. (AMRS)
- Reuters
Retail investors flock to penny stocks WeWork, Amyris, Proterra
WeWork, a prized startup just four years ago but now a micro-cap, and other penny stocks such as Amyris and Proterra are the latest focus of speculative bets from retail traders, with shares of the financially struggling firms rising in strong trading volume after hitting record lows this week. The three penny stocks, up in the range of 40% to 120%, were the most actively traded U.S. shares at 10:45 a.m. ET on Friday. Amyris and WeWork were the second and third most traded stocks by retail investors, respectively, while Proterra was twelfth on the list at 10 a.m. ET, according to J.P.Morgan data.
- Reuters
Biotech firm Amyris files for bankruptcy in US
Amyris said it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S. are not included in the bankruptcy proceedings. In a filing with the Delaware bankruptcy court, the company listed estimated assets in the range of $500 million to $1 billion and liabilities in the range of $1 billon to $10 billion. "Restructuring is intended to improve the Company's cost structure, capital structure, and liquidity position while streamlining Amyris' business portfolio to focus on its core competencies in R&D...," the company said.
- Reuters
UPDATE 1-Biotech firm Amyris files for bankruptcy in US
Biotech firm Amyris Inc on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company's liquidity position. Amyris said it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S. are not included in the bankruptcy proceedings. In a filing with the Delaware bankruptcy court, the company listed estimated assets in the range of $500 million to $1 billion and liabilities in the range of $1 billon to $10 billion.
