Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 10, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | AMYRIS, INC. | |
Entity Central Index Key | 1,365,916 | |
Trading Symbol | amrs | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 50,176,739 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 24,084 | $ 57,059 |
Restricted cash | 2,454 | 2,994 |
Accounts receivable, net of allowance of $642 as of March 31, 2018 and December 31, 2017 | 25,730 | 24,281 |
Unbilled receivable | 9,247 | 9,340 |
Inventories | 4,998 | 5,408 |
Prepaid expenses and other current assets | 7,340 | 5,525 |
Total current assets | 73,853 | 104,607 |
Property, plant and equipment, net | 12,880 | 13,892 |
Unbilled receivable, noncurrent | 7,940 | 7,940 |
Restricted cash, noncurrent | 959 | 959 |
Recoverable taxes from Brazilian government entities | 1,226 | 1,445 |
Other assets | 21,302 | 22,640 |
Total assets | 118,160 | 151,483 |
Current liabilities: | ||
Accounts payable | 16,054 | 15,921 |
Accrued and other current liabilities | 26,622 | 29,402 |
Deferred revenue | 6,466 | 4,880 |
Debt, current portion | 34,252 | 36,924 |
Related party debt, current portion | 27,171 | 20,019 |
Total current liabilities | 110,565 | 107,146 |
Long-term debt, net of current portion | 62,489 | 61,893 |
Related party debt, net of current portion | 39,147 | 46,541 |
Derivative liabilities | 183,189 | 119,978 |
Other noncurrent liabilities | 8,981 | 10,632 |
Total liabilities | 404,371 | 346,190 |
Commitments and contingencies (Note 9) | ||
Stockholders’ deficit: | ||
Preferred stock - $0.0001 par value, 5,000,000 shares authorized, and 22,171 shares issued and outstanding as of March 31, 2018 and December 31, 2017 | ||
Common stock - $0.0001 par value, 250,000,000 shares authorized as of March 31, 2018 and December 31, 2017; 45,850,847 and 45,637,433 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively | 5 | 5 |
Additional paid-in capital - common stock and other | 1,050,587 | 1,048,274 |
Accumulated other comprehensive loss | (42,293) | (42,156) |
Accumulated deficit | (1,300,447) | (1,206,767) |
Total Amyris, Inc. stockholders’ deficit | (292,148) | (200,644) |
Noncontrolling interest | 937 | 937 |
Total stockholders' deficit | (291,211) | (199,707) |
Total liabilities, mezzanine equity and stockholders' deficit | 118,160 | 151,483 |
Contingently Redeemable Common Stock [Member] | ||
Current liabilities: | ||
Mezzanine Equity | $ 5,000 | $ 5,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts receivable, allowance | $ 642 | $ 642 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 22,171 | 22,171 |
Preferred stock, shares outstanding (in shares) | 22,171 | 22,171 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in shares) | 45,850,847 | 45,637,433 |
Common stock, shares outstanding (in shares) | 45,850,847 | 45,637,433 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenue | ||
Revenues | $ 22,998 | $ 12,980 |
Cost and operating expenses | ||
Cost of products sold | 5,315 | 12,768 |
Research and development | 18,813 | 14,778 |
Sales, general and administrative | 18,757 | 12,778 |
Total cost and operating expenses | 42,885 | 40,324 |
Loss from operations | (19,887) | (27,344) |
Other income (expense) | ||
Interest expense | (8,205) | (12,184) |
Gain (loss) from change in fair value of derivative instruments | (63,913) | 2,339 |
Gain upon extinguishment of debt | 96 | |
Other income (expense), net | 509 | (319) |
Total other expense, net | (71,609) | (10,068) |
Loss before income taxes | (91,496) | (37,412) |
Benefit from income taxes | 41 | |
Net loss attributable to Amyris, Inc. | (91,496) | (37,371) |
Less cumulative dividends on Series B preferred stock | (395) | |
Net loss attributable to Amyris, Inc. common stockholders | $ (91,891) | $ (37,371) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (1.79) | $ (1.93) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted (in shares) | 51,200,922 | 19,335,948 |
Product [Member] | ||
Revenue | ||
Revenues | $ 5,195 | $ 8,037 |
Licenses and Royalties [Member] | ||
Revenue | ||
Revenues | 11,437 | 255 |
Grants and Collaborations [Member] | ||
Revenue | ||
Revenues | $ 6,366 | $ 4,688 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues, related party | $ 12,941 | $ 0 |
Product [Member] | ||
Revenues, related party | 151 | 0 |
Licenses and Royalties [Member] | ||
Revenues, related party | 11,400 | 0 |
Grants and Collaborations [Member] | ||
Revenues, related party | $ 1,390 | $ 0 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Comprehensive loss: | ||
Net loss attributable to Amyris, Inc. | $ (91,496) | $ (37,371) |
Foreign currency translation adjustment, net of tax | (137) | 323 |
Total comprehensive loss attributable to Amyris, Inc. | $ (91,633) | $ (37,048) |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Stockholders' Deficit and Mezzanine Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Mezzanine Equity, Common Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 22,171,000 | 45,637,433,000 | ||||||
Balance at Dec. 31, 2017 | $ 5 | $ 1,048,274 | $ (42,156) | $ (1,206,767) | $ 937 | $ 5,000 | $ (199,707) | |
Cumulative effect of change in accounting principle (see "Significant Accounting Policies" in Note 1) (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2017 | (804) | (804) | ||||||
Cumulative effect of change in accounting principle (see "Significant Accounting Policies" in Note 1) (Accounting Standards Update 2016-01 [Member]) at Dec. 31, 2017 | (1,380) | $ (1,380) | ||||||
Issuance of common stock upon exercise of warrants (in shares) | 162,392 | 162,392 | ||||||
Issuance of common stock upon exercise of warrants | 835 | $ 835 | ||||||
Issuance of common stock in private placement, net of issuance costs (in shares) | 13,529 | |||||||
Issuance of common stock in private placement, net of issuance costs | 92 | $ 92 | ||||||
Issuance of common stock upon exercise of stock options (in shares) | 7,004 | 7,004 | ||||||
Issuance of common stock upon exercise of stock options | 81 | $ 81 | ||||||
Issuance of common stock upon restricted stock settlement (in shares) | 30,489 | |||||||
Issuance of common stock upon restricted stock settlement | (66) | (66) | ||||||
Stock-based compensation | 1,278 | 1,278 | ||||||
Other | 93 | 93 | ||||||
Foreign currency translation adjustment | (137) | (137) | ||||||
Net loss attributable to Amyris, Inc. | (91,496) | (91,496) | ||||||
Balance (in shares) at Mar. 31, 2018 | 22,171,000 | 45,850,847,000 | ||||||
Balance at Mar. 31, 2018 | $ 5 | $ 1,050,587 | $ (42,293) | $ (1,300,447) | $ 937 | $ 5,000 | $ (291,211) |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities | ||
Net loss | $ (91,496) | $ (37,371) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 1,561 | 2,715 |
Gain on change in fair value of equity investment | (315) | |
Loss (gain) on disposal of property, plant and equipment | 1,035 | (55) |
Stock-based compensation | 1,278 | 1,646 |
Amortization of debt discount | 3,016 | 4,473 |
Gain upon extinguishment of debt | (96) | |
Loss (gain) from change in fair value and extinguishment of derivative instruments | 63,913 | (2,339) |
Loss (gain) on foreign currency exchange rates | 243 | (295) |
Changes in assets and liabilities: | ||
Accounts receivable | (926) | 5,388 |
Unbilled receivables | 93 | |
Inventories | 420 | (867) |
Prepaid expenses and other assets | (2,268) | (713) |
Accounts payable | (108) | 450 |
Accrued and other liabilities | (2,779) | 3,515 |
Deferred revenue | 782 | (1,844) |
Net cash used in operating activities | (25,551) | (25,393) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (1,202) | (457) |
Decrease in short-term investments | 329 | |
Net cash used in investing activities | (1,202) | (128) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 1,500 | |
Repayments of debt | (6,534) | (5,124) |
Principal payments on capital leases | (400) | (627) |
Proceeds from issuance of common stock upon exercise of warrants | 133 | |
Proceeds from issuance of common stock in private placement | 92 | |
Proceeds from exercises of common stock options | 81 | |
Employer taxes paid upon vesting of restricted stock units | (66) | (22) |
Net cash used in financing activities | (6,694) | (4,273) |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (68) | (83) |
Net decrease in cash, cash equivalents, and restricted cash | (33,515) | (29,877) |
Cash, cash equivalents, and restricted cash at beginning of period | 61,012 | 32,433 |
Cash, cash equivalents, and restricted cash at end of the period | 27,497 | 2,556 |
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets | ||
Cash and cash equivalents | 24,084 | 1,297 |
Restricted cash, current | 2,454 | 301 |
Restricted cash, noncurrent | 959 | 958 |
Cash, cash equivalents, and restricted cash at end of the period | 27,497 | 2,556 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 1,815 | 1,863 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Acquisition of property, plant and equipment under accounts payable, accrued liabilities and notes payable | 264 | 821 |
Financing of equipment | 91 | 180 |
Financing of insurance premium under notes payable | 146 | |
Issuance of common stock for settlement of debt principal and interest payments | 7,681 | |
Accrued interest added to debt principal | $ 1,211 | $ 1,115 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Amyris, Inc. (Amyris or the Company) is a leading industrial biotechnology company that applies its technology platform to engineer, manufacture and sell high performance, natural, sustainably sourced products into the Health & Wellness, Clean Beauty, and Flavors & Fragrances markets. The Company's proven technology platform enables the Company to rapidly engineer microbes and use them as catalysts to metabolize renewable, plant-sourced sugars into large volume, high-value ingredients. The Company's biotechnology platform and industrial fermentation process replace existing complex and expensive manufacturing processes. The Company has successfully used its technology to develop and produce five The Company believes that industrial synthetic biology represents a third On December 28, 2017, 1 $33.0 $12.6 $56.9 $5.7 Concurrent with the sale of Amyris Brasil, the Company and DSM entered into a series of commercial agreements including (i) a license agreement to DSM of its farnesene product for DSM to use in the Vitamin E, lubricant, and flavor and fragrance markets; (ii) a value share agreement that DSM will pay the Company specified royalties representing a portion of the profit on the sale of Vitamin E produced from farnesene under the Nenter Supply Agreement assigned to DSM; (iii) a performance agreement for the Company to perform research and development to optimize farnesene for production and sale of farnesene products; and (iv) a transition services agreement for the Company to provide finance, legal, logistics, and human resource services to support the Brotas 1 six six $27.5 $15.0 2018 2019. $17.8 10, 10 December 31, 2017 ( 10 $25.0 4, 10 The accompanying unaudited condensed consolidated financial statements of Amyris, Inc. should be read in conjunction with the audited consolidated financial statements and notes thereto included in 10 December 31, 2017 10 10 X. not not Liquidity The Company has incurred significant operating losses since its inception and expects to continue to incur losses and negative cash flows from operations for at least the next 12 March 31, 2018, $60.8 $59.6 December 31, 2017 $1.3 As of March 31, 2018, $27.4 $163.1 $61.4 $22.5 May 31, 2019 $161.7 $11.0 Cash and cash equivalents of $24.1 March 31, 2018, April 12, 2018 ( 14, not one one not 12 12 third 2018, 2 may may not Significant Accounting Policies Note 1, Basis of Presentation and Summary of Significant Accounting Policies 10 606 606” Revenue from Contracts with Customers 2016 01, Financial Instruments-Overall (Subtopic 825 10 no three March 31, 2018. Revenue Recognition The Company recognizes revenue from the sale of renewable products, licenses of and royalties from intellectual property, and grants and collaborative research and development services. Revenue is measured based on the consideration specified in a contract with a customer and recognized when, or as, the Company satisfies a performance obligation by transferring control over a product or service to a customer. The Company accounts for a contract when it has approval and commitment to perform from both parties, the rights of the parties are identified, payment terms are established, the contract has commercial substance and collectability of the consideration is probable. Changes to contracts are assessed for whether they represent a modification or should be accounted for as a new contract. The Company considers the following indicators among others when determining whether it is acting as a principal in the transaction and recording revenue on a gross basis: (i) the Company is primarily responsible for fulfilling the promise to provide the specified goods or service, (ii) the Company has inventory risk before the specified good or service has been transferred to a customer or after transfer of control to the customer and (iii) the Company has discretion in establishing the price for the specified good or service. If a transaction does not The Company’s significant contracts and contractual terms with its customers are presented in Note 10, 8 10 The Company recognizes revenue when control has passed to the customer. The following indicators are evaluated in determining when control has passed to the customer: (i) the Company has a right to payment for the product or service, (ii) the customer has legal title to the product, (iii) the Company has transferred physical possession of the product to the customer, (iv) the customer has the significant risk and rewards of ownership of the product and (v) the customer has accepted the product. The Company’s renewable products are delivered to customers from the Company’s facilities with shipping terms typically specifying F.O.B. shipping point. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company's contracts may The following is a description of the principal goods and services from which the Company generates revenue. Renewable Product Sales Revenues from renewable product sales are recognized as a distinct performance obligation on a gross basis as the Company is acting as a principal in these transactions, with the selling price to the customer recorded net of discounts and allowances. Revenues are recognized at a point in time when control has passed to the customer, which typically is upon the renewable products leaving the Company’s facilities with the first may not not not two not Licenses and Royalties Licensing of Intellectual Property: Royalties from Licensing of Intellectual Property: When the Company’s intellectual property license is the only performance obligation, or it is the predominant performance obligation in arrangements with multiple performance obligations, the Company applies the sales-based royalty exception and revenue is estimated and recognized at a point in time when the licensee’s product sales occur. Estimates of sales-based royalty revenues are made using the most likely outcome method, which is the single amount in a range of possible amounts derived from the licensee’s historical sales volumes and sales prices of its products and recent commodity market pricing data and trends. When the Company’s intellectual property license is not not Grants and Collaborative Research and Development Services Collaborative Research and Development Services: one Collaboration agreements are evaluated at inception to determine whether the intellectual property licenses represent distinct performance obligations separate from the research and development services. If the licenses are determined to be distinct, the non-refundable upfront license fee is recognized as revenue at a point in time when the license is transferred to the licensee and the licensee is able to use and benefit from the license while the research and development service fees are recognized over time as the performance obligations are satisfied. The research and development service fees represent variable consideration. Estimates of the amount of variable consideration to include in the transaction price are made using the expected value method, which is the sum of probability-weighted amounts in a range of possible amounts. The Company only includes an amount of variable consideration in the transaction price to the extent it is probable that a significant reversal in the cumulative revenue recognized will not Collaboration agreements that include milestone payments are evaluated at inception to determine whether the milestone events are considered probable of achievement and estimates are made of the amount of the milestone payments to include in the transaction price using the most likely amount method which is the single amount in a range of possible amounts. If it is probable that a significant revenue reversal will not The Company generally invoices its collaborators on a monthly or quarterly basis, or upon the completion of the effort or achievement of a milestone, based on the terms of each agreement. Deferred revenue arises from amounts received in advance of performing the research and development activities and is recognized as revenue in future periods as the performance obligations are satisfied. Grants: The milestone payments are evaluated at inception to determine whether the milestone events are considered probable of achievement and estimates are made of the amount of the milestone payments to include in the transaction price using the most likely amount method which is the single amount in a range of possible amounts. If it is probable that a significant revenue reversal will not Disaggregation of Revenue Revenue for the three March 31, 2018 2017, 10, The following table presents revenue by major product and service, as well as, by primary geographical market and is based on the location of the customer: Three Months Ended March 31, (In thousands) 2018 2017 Renewable Products Licenses and Royalties Grants and Collaborations Total Renewable Products Licenses and Royalties Grants and Collaborations Total United States $ 1,962 $ — $ 1,208 $ 3,170 $ 1,096 $ 10 $ 1,990 $ 3,096 Europe 2,434 11,437 3,500 17,371 2,558 245 2,573 5,376 Asia 678 — 1,000 1,678 4,308 125 4,433 Brazil 5 — 658 663 19 19 Other 116 — — 116 56 56 $ 5,195 $ 11,437 $ 6,366 $ 22,998 $ 8,037 $ 255 $ 4,688 $ 12,980 The following table presents the amounts by which revenue is affected in the current reporting period by the application of ASC 606 No 606. Three Months Ended March 31, 2018 (In thousands) As Reported Adjustments Amounts Without the Adoption of ASC 606 Renewable products $ 5,195 $ — $ 5,195 Licenses and royalties 11,437 (11,437 ) — Grants and collaborations 6,366 444 6,810 Total revenue from all customers $ 22,998 $ (10,993 ) $ 12,005 The Company’s accounting policy under the legacy revenue recognition guidance of ASC 605 1, 8 10 Contract Assets, Contract Liabilities, and Accounts Receivable When a contract results in revenue being recognized in excess of the amount the Company has invoiced or has the right to invoice to the customer, a contract asset is recognized. Contract assets are transferred to accounts receivable, net when the rights to the consideration become unconditional. Contract assets are presented as Unbilled receivables on the consolidated balance sheets. Contract liabilities consist of payments received from customers, or such consideration that is contractually due, in advance of providing the product or performing services such that control has not Trade receivables related to revenue from contracts with customers are included in accounts receivable on the consolidated balance sheets, net of the allowance for doubtful accounts. Trade accounts receivable are recorded at the point of renewable product sale or in accordance with the contractual payment terms for licenses and royalties, and grants and collaborative research and development services for the amount payable by the customer to the Company for sale of goods or the performance of services. Contract Balances The following table provides information about unbilled receivables, deferred revenue, and accounts receivable from contracts with customers: (In thousands) March 31, 2018 December 31, 2017 Unbilled receivables, current $ 9,247 $ 9,340 Unbilled receivables, noncurrent $ 7,940 $ 7,940 Deferred revenue, current $ 6,466 $ 4,880 Deferred revenue, noncurrent $ — (1) $ — (1) Accounts receivable, net $ 25,730 $ 24,281 ( 1 $0.4 Unbilled receivables, current and noncurrent, relate to the Company’s right to consideration from DSM for minimum future royalties. The Company’s right to cash receipt for these minimum royalty amounts occurs on or before December 31, 2018 December 31, 2019, Deferred revenue, current increased by $1.6 March 31, 2018 $0.8 606 January 1, 2018 three March 31, 2018. $1.7 three March 31, 2018 Costs to Obtain and Fulfill a Contract We generally do not Remaining Performance Obligations The following table provides information of the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) based on the Company's existing agreements with customers as of March 31, 2018. (In thousands) March 31, 2018 Remaining 2018 $ 7,197 2019 8,865 2020 7,656 2021 and thereafter 828 $ 24,546 In accordance with the disclosure provisions of ASC 606, one For descriptions of the Company's other significant accounting policies, see the Company's Annual Report on Form 10 December 31, 2017. Recent Accounting Pronouncements (a) Recent Accounting Standards Pronouncements or Updates Recently Adopted In the three March 31, 2018, Revenue Recognition 606 January 1, 2018. 606 606 not January 1, 2018. not 605, The Company applied ASC 606 January 1, 2018, The cumulative effect of initially applying ASC 606 January 1, 2018 $0.8 $0.8 606 605. not Financial Instruments January 2016, 2016 01, Financial Instruments-Overall (Subtopic 825 10 2016 01 January 1, 2018 $1.4 January 1, 2018 January 1, 2018 Classification of Cash Flow Elements August 2016, 2016 15, Statement of Cash Flows (Topic 230 2016 15 2016 15, 2016 15 January 1, 2018 2016 15, Restricted Cash in Statement of Cash Flows November 2016, 2016 18, Statement of Cash Flows (Topic 230 January 1, 2018 2016 18 Derecognition of Nonfinancial Assets February 2017, 2017 05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610 20 606 not 1 not not not 2 not January 1, 2018 not (b) Recent Accounting Standards Pronouncements or Updates Not Leases February 2016, 2016 02, Leases (Topic 842 first 2019 may Financial Instruments with "Down Round" Features July 2017, 2017 11, Earnings Per Share (Topic 260 480 815 no first 2019 Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates, and such differences may Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation in the Company’s condensed consolidated financial statements and the accompanying notes to the condensed consolidated financial statements. The condensed consolidated statements of operations previously presented license fee revenue in combination with grants and collaborations revenue, and royalties (formerly referred to as “value share”) were previously presented in combination with renewable products revenue. Licenses and royalties revenue is presented as a separate line within the condensed consolidated statements of operations. The reclassifications reflect the growth in the Company’s business model of licensing its technology and earning royalties from customers utilizing the Company’s technology in the products it produces and sells. The reclassifications had no |
Note 2 - Balance Sheet Details
Note 2 - Balance Sheet Details | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 2. Accounts Receivable, Net Accounts receivable, net is comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Accounts receivable $ 7,035 $ 18,953 Related party accounts receivable 18,695 5,328 $ 25,730 $ 24,281 Inventories Inventories are stated at the lower of cost or net realizable value and are comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Raw materials $ 871 $ 819 Work-in-process 173 364 Finished goods 3,954 4,225 Inventories $ 4,998 $ 5,408 Property, Plant and Equipment, Net Property, plant and equipment, net is comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Machinery and equipment $ 48,911 $ 49,277 Leasehold improvements 40,196 40,036 Computers and software 10,415 9,555 Furniture and office equipment, vehicles and land 3,518 3,415 Construction in progress 17,145 17,438 120,185 119,721 Less: accumulated depreciation and amortization (107,305 ) (105,829 ) Property, plant and equipment, net $ 12,880 $ 13,892 Property, plant and equipment, net includes $3.4 $4.2 March 31, 2018 December 31, 2017, $1.7 $1.6 March 31, 2018 December 31, 2017, Depreciation and amortization expense, including amortization of assets under capital leases was $1.6 $2.7 three March 31, 2018 2017, Other Assets Other assets are comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Contingent consideration $ 8,151 $ 8,151 Prepaid royalty 7,384 7,409 Equity investment in SweeGen 2,168 3,233 Deposits 2,760 2,462 Goodwill 560 560 Other 279 825 Other assets $ 21,302 $ 22,640 Accrued and Other Current Liabilities Accrued and other current liabilities are comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Accrued interest $ 8,011 $ 8,213 Payroll and related expenses 6,797 7,238 SMA relocation accrual 3,571 3,587 Tax-related liabilities 2,524 5,837 Professional services 1,756 1,894 Other 3,963 2,633 Total accrued and other current liabilities $ 26,622 $ 29,402 Other Noncurrent Liabilities Other noncurrent liabilities are comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Deferred rent, net of current portion $ 7,821 $ 7,818 Deferred revenue, net of current portion 383 383 Capital lease obligation, net of current portion 225 217 Other liabilities 552 2,214 Total other noncurrent liabilities $ 8,981 $ 10,632 |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 3. Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis The following tables summarize, for assets or liabilities measured at fair value, the respective fair value and the classification by level of input within the fair value hierarchy: (In thousands) March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds $ — $ — $ — $ — $ 53,199 $ — $ — $ 53,199 Certificates of deposit 1,159 — — 1,159 7,813 — — 7,813 Equity investment in SweeGen — 2,168 — 2,168 — — — — Total assets measured and recorded at fair value $ 1,159 $ 2,168 $ — $ 3,327 $ 61,012 $ — $ — $ 61,012 Liabilities Embedded derivatives in connection with the issuance of debt and equity instruments $ — $ — $ 15,305 $ 15,305 $ — $ — $ 4,203 $ 4,203 Freestanding derivative instruments in connection with the issuance of equity instruments — — 167,884 167,884 — — 115,775 115,775 Total liabilities measured and recorded at fair value $ — $ — $ 183,189 $ 183,189 $ — $ — $ 119,978 $ 119,978 There were no Equity Investment in SweeGen The Company holds 850,115 December 2016 March 31, 2018, $2.2 2 three March 31, 2018, $0.3 2016 01 January 1, 2018 1. Derivative Liabilities Recognized in Connection with the Issuance of Debt and Equity Instruments The following table provides a reconciliation of the beginning and ending balances for the Company's derivative liabilities recognized in connection with the issuance of debt and equity instruments, measured at fair value using significant unobservable inputs (Level 3 (In thousands) 2018 2017 Balance at January 1 $ 119,978 $ 4,135 (Gain) loss from change in fair value of derivative liabilities 63,913 (1,984 ) Additions — 577 Derecognition upon conversion or extinguishment (702 ) — Balance at March 31 $ 183,189 $ 2,728 The derivative liabilities recognized in connection with the issuance of debt and equity instruments represent the fair value of the make-whole provisions of the Series A and B Preferred Stock as well as the cash and anti-dilution warrants issued concurrently with the Series A, B and D Preferred Stock (see Note 6, 8 10 2014 144A 2015 144A 4, 6, 8 10 The market-based assumptions and estimates used in applying a Monte Carlo simulation approach and Black-Scholes-Merton option value approach for valuing the derivative liabilities in connection with debt and equity instruments include amounts in the following ranges and amounts: March 31, 2018 March 31, 2017 Risk-free interest rate 1.96% - 2.74% 0.74% - 1.30% Risk-adjusted yields 16.30% - 26.43% 12.50% - 22.63% Stock price volatility 45% - 80% 45% Probability of change in control 5% 5% Stock price $6.69 $7.95 Credit spread 14.26% - 24.33% 11.28% - 21.35% Estimated conversion dates 2018 - 2025 2017 - 2019 The valuation of the embedded derivatives in connection with the issuance of debt and equity instruments and freestanding derivative instruments in connection with the issuance of equity instruments can be significantly affected by changes in valuation assumptions. For example, all other things being equal, a decrease/increase in the Company’s stock price, probability of change of control, credit spread, term to maturity/conversion or stock price volatility decreases/increases the valuation of the liabilities, whereas a decrease/increase in risk adjusted yields or risk-free interest rates increases/decreases the valuation of the liabilities. A third Changes in Fair Value Changes in the fair value of assets or liabilities measured at fair value on a recurring basis are recognized in “Gain (loss) from change in fair value of derivative instruments" in the condensed consolidated statements of operations. Assets and Liabilities Recorded at Carrying Value Financial Assets and Liabilities The carrying amounts of certain financial instruments, such as cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities and low market interest rates, if applicable. Loans payable, credit facilities and convertible notes are recorded at carrying value, which is representative of fair value at the date of acquisition. The Company estimates the fair value of loans payable and credit facilities using observable market-based inputs (Level 2 3 (In thousands) March 31, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Total debt $ 159,027 $ 163,059 $ 156,900 $ 165,377 |
Note 4 - Debt
Note 4 - Debt | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4. Net carrying amounts of debt are as follows: March 31, 2018 December 31, 2017 (In thousands) Principal Unamortized Debt Discount Net Balance Principal Unamortized Debt Discount Net Balance Nonrelated Party Convertible notes 2015 Rule 144A convertible notes $ 37,887 $ (5,866 ) $ 32,021 $ 37,887 $ (6,872 ) $ 31,015 2014 Rule 144A convertible notes 24,004 (2,600 ) 21,404 24,004 (3,170 ) 20,834 December 2017 convertible note 2,500 (10 ) 2,490 5,000 (25 ) 4,975 August 2013 financing convertible notes 4,416 (2,806 ) 1,610 4,009 (2,918 ) 1,091 68,807 (11,282 ) 57,525 70,900 (12,985 ) 57,915 Loans payable and credit facilities Senior secured loan facility 27,316 (136 ) 27,180 28,566 (253 ) 28,313 Ginkgo notes 12,000 (4,803 ) 7,197 12,000 (4,983 ) 7,017 Other loans payable 5,796 (1,256 ) 4,540 6,463 (1,277 ) 5,186 Other credit facilities 305 — 305 381 — 381 45,417 (6,195 ) 39,222 47,410 (6,513 ) 40,897 Subtotal nonrelated party 114,224 (17,477 ) 96,747 118,310 (19,498 ) 98,812 Related Party Related party convertible notes August 2013 financing convertible notes 22,516 665 23,181 21,711 897 22,608 2014 Rule 144A convertible notes 24,705 (3,107 ) 21,598 24,705 (3,784 ) 20,921 R&D note 3,700 — 3,700 3,700 (18 ) 3,682 50,921 (2,442 ) 48,479 50,116 (2,905 ) 47,211 Related party loans payable DSM note 25,000 (7,634 ) 17,366 25,000 (8,039 ) 16,961 Other DSM loan 467 — 467 393 — 393 February 2016 private placement — — — 2,000 — 2,000 25,467 (7,634 ) 17,833 27,393 (8,039 ) 19,354 Subtotal related party 76,388 (10,076 ) 66,312 77,509 (10,944 ) 66,565 Total debt 190,612 (27,553 ) 163,059 195,819 (30,442 ) 165,377 Less: current portion (61,423 ) (56,943 ) Long-term debt, net of current portion $ 101,636 $ 108,434 During the three March 31, 2018, • R&D Note Extension: March 30, 2018, 4, 18, 8 10 March 31, 2018 May 31, 2018, March 31, 2018 May 31, 2018. • Senior Secured Loan Facility Extension: March 30, 2018, 4, 18, 8 10 $5.5 March 31, 2018 May 31, 2018. April 1, 2018 $5.5 5.0%. No three March 31, 2018. Future Minimum Payments Future minimum payments under the Company's debt agreements as of March 31, 2018 not 4, 8 10 |
Note 5 - Mezzanine Equity
Note 5 - Mezzanine Equity | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Mezzanine Equity Disclosure [Text Block] | 5. Mezzanine equity is comprised of the following: (In thousands) March 31, 2018 December 31, 2017 Contingently redeemable common stock $ 5,000 $ 5,000 Mezzanine equity at March 31, 2018 December 31, 2017 May 10, 2016 not third $17.10 10%. |
Note 6 - Stockholders' Deficit
Note 6 - Stockholders' Deficit | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 6. Warrants In connection with various debt and equity transactions (see Note 4, 6, 8 10 three March 31, 2018: Transaction Transaction Type Number Outstanding as of December 31, 2017 Additional Warrants Issued Exercises Number Outstanding as of March 31, 2018 July 2015 private placement Equity 81,197 — — 81,197 July 2015 debt exchange Debt exchange 2,082,010 — — 2,082,010 February 2016 related party private placement Debt 171,429 — — 171,429 May 2017 offerings (Series A and B preferred stock) Equity / debt conversion 18,042,568 — (162,392 ) 17,880,176 August 2017 DSM offering (Series B preferred stock) Equity 3,968,116 — — 3,968,116 August 2017 Vivo offering (Series D preferred stock) Equity 5,575,118 — — 5,575,118 Other — 1,406 — — 1,406 29,921,844 — (162,392 ) 29,759,452 For the three March 31, 2018, $0.1 162,392 At Market Issuance Sales Agreement On March 8, 2016, may $50.0 3 No. 333 203216 April 15, 2015. may 415 1933, 3.0% no During the three March 31, 2018, 13,529 $7.01 March 31, 2018, $49.9 April 15, 2018, |
Note 7 - Variable-interest Enti
Note 7 - Variable-interest Entities and Unconsolidated Investments | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] | 7. Consolidated Variable-interest Entity The table below reflects the carrying value of the Aprinnova JV's assets and liabilities, for which the Company is the primary beneficiary at March 31, 2018: (In thousands) March 31, 2018 December 31, 2017 Assets 36,747 36,781 Liabilities 2,535 3,187 The Aprinnova JV's creditors have recourse only to the assets of the Aprinnova JV. During the three March 31, 2018 2017, no Unconsolidated Investments The Company's unconsolidated investments are summarized as follows: Carrying Value of Investment on Condensed Consolidated Balance Sheets (Amounts in thousands) Amyris Equity Ownership % March 31, 2018 December 31, 2017 Equity-method investments: Novvi LLC 20% $ — $ — Total Amyris BioSolutions B.V. 25% $ — $ — Other unconsolidated equity investment: SweeGeen, Inc. 3% $ 2,168 $ 3,233 |
Note 8 - Net Loss Per Share Att
Note 8 - Net Loss Per Share Attributable to Common Stockholders | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 8. For the three March 31, 2018 March 31, 2017, The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended March 31, 2018 2017 Numerator: Net loss attributable to Amyris, Inc. $ (91,496 ) $ (37,371 ) Less cumulative dividends on Series A and Series B preferred stock (395 ) — Net loss attributable to Amyris, Inc. common stockholders, basic and diluted $ (91,891 ) $ (37,371 ) Denominator: Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted 51,200,922 19,335,948 Net loss per share, basic and diluted $ (1.79 ) $ (1.93 ) The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share of common stock because including them would have been antidilutive: As of March 31, 2018 2017 Stock options to purchase common stock 1,365,447 901,152 Convertible promissory notes (1) 8,347,364 4,855,074 Period-end common stock warrants 29,759,452 334,740 Period-end restricted stock units 706,697 481,603 Period-end preferred stock 4,504,212 — Total potentially dilutive securities excluded from computation of diluted net loss per share 44,683,172 6,572,569 ______________ ( 1 The potentially dilutive effect of convertible promissory notes was computed based on conversion ratios in effect as of the respective period end dates. A portion of the convertible promissory notes issued carries a provision for a reduction in conversion price under certain circumstances, which could potentially increase the dilutive shares outstanding. Another portion of the convertible promissory notes issued carries a provision for an increase in the conversion rate under certain circumstances, which could also potentially increase the dilutive shares outstanding. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 9. Commitments Future minimum payments under the Company's lease obligations as of March 31, 2018 Years ending December 31: (In thousands) Capital Operating Total Lease Obligations 2018 (remaining nine months) $ 475 $ 7,414 $ 7,889 2019 229 8,774 9,003 2020 67 7,035 7,102 2021 — 7,259 7,259 2022 — 7,432 7,432 Thereafter — 3,322 3,322 Total future minimum payments $ 771 $ 41,236 $ 42,007 Less: amount representing interest (34 ) Present value of minimum lease payments 737 Less: current portion (512 ) Long-term portion $ 225 Guarantor Arrangements The Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is serving in his or her official capacity. The indemnification period remains enforceable for the officer's or director’s lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that limits its exposure and enables the Company to recover a portion of any future payments. As a result of its insurance policy coverage, the Company believes the estimated fair value of these indemnification agreements is minimal. Accordingly, the Company had no March 31, 2018 December 31, 2017 . The Company entered into the FINEP Credit Facility to finance a research and development project on sugarcane-based biodiesel; see Note 4, 8 10 March 31, 2018 December 31, 2017 was R$6.0 $1.8 The Senior Secured Loan Facility (see Note 4, 8 10 first 4, 8 10 first 10% Contingencies The Company has levied indirect taxes on sugarcane-based biodiesel sales that took place several years ago by Amyris Brasil Ltda. (see Note 13, 8 10 The Company and a number of the Company’s current officers and directors are parties to four December 21, 2017, March 9, 2018. March 29, 2018, May 4, 2018 two not 1, 10 The Company is subject to disputes and claims that arise or have arisen in the ordinary course of business and that have not not may not one |
Note 10 - Significant Revenue A
Note 10 - Significant Revenue Agreements | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 10. In connection with significant revenue agreements (see below and Note 10, 8 10 and from all other customers, the Company recognized the following revenues for the three March 31, 2018 2017 : Three Months Ended March 31, (In thousands) 2018 2017 Renewable Products Licenses and Royalties Grants and Collaborations Total Renewable Products Licenses and Royalties Grants and Collaborations Total DSM $ — $ 11,400 $ 1,390 $ 12,790 $ — $ — $ — $ — Givaudan 1,076 — 1,500 2,576 619 — 1,500 2,119 Firmenich 207 37 1,267 1,511 997 245 1,074 2,316 Nenter — — 1,000 1,000 2,309 — — 2,309 DARPA — — 846 846 — — 972 972 Subtotal revenue from significant revenue agreements 1,283 11,437 6,003 18,723 3,925 245 3,546 7,716 Revenue from all other customers 3,912 — 363 4,275 4,112 10 1,142 5,264 Total revenue from all customers $ 5,195 $ 11,437 $ 6,366 $ 22,998 $ 8,037 $ 255 $ 4,688 $ 12,980 Givaudan Agreements In 2015, 2011. 5 2 three 2016, 2 $12.0 $3.0 June 30, 2016; March 31, 2018, $12.0 During the three March 31, 2018, no material changes to significant revenue agreements. |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 11. Related Party Debt Related party debt March 31, 2018 December 31, 2017 was as follows: March 31, 2018 December 31, 2017 (in thousands) Principal Unamortized Debt Discount Net Balance Principal Unamortized Debt Discount Net Balance Total R&D note $ 3,700 $ — $ 3,700 $ 3,700 $ (18 ) $ 3,682 August 2013 financing convertible notes 22,516 665 23,181 21,711 897 22,608 2014 Rule 144A convertible notes 9,705 (1,263 ) 8,442 9,705 (1,538 ) 8,167 35,921 (598 ) 35,323 35,116 (659 ) 34,457 DSM DSM note 25,000 (7,635 ) 17,365 25,000 (8,039 ) 16,961 Other DSM loan 467 — 467 393 — 393 25,467 (7,635 ) 17,832 25,393 (8,039 ) 17,354 Biolding February 2016 private placement — — — 2,000 — 2,000 Foris 2014 Rule 144A convertible notes 5,000 (541 ) 4,459 5,000 (660 ) 4,340 Temasek 2014 Rule 144A convertible notes 10,000 (1,302 ) 8,698 10,000 (1,586 ) 8,414 $ 76,388 $ (10,076 ) $ 66,312 $ 77,509 $ (10,944 ) $ 66,565 Related Party Accounts Receivable and Unbilled Receivable Related party accounts receivable and unbilled receivable as of March 31, 2018 December 31, 2017 (In thousands) March 31, 2018 December 31, 2017 Accounts receivable, net: DSM $ 18,139 $ 3,483 Novvi 294 1,607 Total 262 238 $ 18,695 $ 5,328 Unbilled receivable, current: DSM $ 9,210 $ 9,340 Unbilled receivable, noncurrent: DSM $ 7,940 $ 7,940 Related Party Joint Ventures See Note 7, 8 10 • Aprinnova joint venture with Nikko • TAB joint venture with Total |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 12. The Company’s stock option activity and related information for the three March 31, 2018 Quantity of Stock Options Weighted- Weighted-average Aggregate Outstanding - December 31, 2017 1,338,367 $ 33.40 7.7 $ 97 Granted 54,600 $ 4.95 Exercised (7,004 ) $ 3.68 Forfeited or expired (20,516 ) $ 57.86 Outstanding - March 31, 2018 1,365,447 $ 32.04 7.6 $ 1,632 Vested or expected to vest after March 31, 2018 1,282,903 $ 33.60 7.5 $ 1,525 Exercisable at March 31, 2018 936,291 $ 42.53 7.0 $ 1,114 The Company’s restricted stock units (RSUs) activity and related information for the three March 31, 2018 Quantity of Restricted Stock Units Weighted-average Grant-date Fair Value Weighted-average Remaining Contractual Life, in Years Outstanding - December 31, 2017 683,554 $ 8.66 1.40 Awarded 60,519 $ 5.01 RSUs released (32,675 ) $ 12.37 RSUs forfeited (4,701 ) $ 8.88 Outstanding - March 31, 2018 706,697 $ 8.16 1.29 Vested or expected to vest after March 31, 2018 563,906 $ 8.42 1.14 Stock-based compensation expense related to options and RSUs granted to employees and non-employees during the three March 31, 2018 2017 Three Months Ended March 31, (In thousands) 2018 2017 Research and development $ 363 $ 484 Sales, general and administrative 915 1,162 Total stock-based compensation expense $ 1,278 $ 1,646 As of March 31, 2018, $5.8 2.4 The fair value of employee stock options was estimated using the following weighted-average assumptions: Three Months Ended March 31, 2018 2017 Expected dividend yield — % — % Risk-free interest rate 2.6 % 2.1 % Expected term (in years) 6.13 6.15 Expected volatility 80.5 % 80.0 % |
Note 13 - Income Taxes
Note 13 - Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. The Company recorded income tax provisions for the three March 31, 2018 2017 Three Months Ended March 31, (In thousands) 2018 2017 Benefit from income taxes $ — $ 41 The benefit for income taxes for the three March 31, 2017 no In connection with our adoption of ASC 606 January 1, 2018 No three March 31, 2018, no 606. On December 22, 2017, 2017 not 35% 21%, one December 31, 2017. Based on the Company’s current operations it is anticipated that the only significant current impact of the Act for the Company will be the reduction in the U.S. corporate tax rate. The Act reduces the corporate tax rate to 21 January 1, 2018. December 2017, No. 118 118” not March 31, 2018, not may one 118. March 31, 2018 not |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. Warrants Exchange and Exercise On April 12, 2018, 3,616,174 $7.00 fifteen May 2017 6, 8 10 May 2017 3,616,174 $15.9 May 2017 not May 2017 not six no not not 30% thirty |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Liquidity [Policy Text Block] | Liquidity The Company has incurred significant operating losses since its inception and expects to continue to incur losses and negative cash flows from operations for at least the next 12 March 31, 2018, $60.8 $59.6 December 31, 2017 $1.3 As of March 31, 2018, $27.4 $163.1 $61.4 $22.5 May 31, 2019 $161.7 $11.0 Cash and cash equivalents of $24.1 March 31, 2018, April 12, 2018 ( 14, not one one not 12 12 third 2018, 2 may may not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company recognizes revenue from the sale of renewable products, licenses of and royalties from intellectual property, and grants and collaborative research and development services. Revenue is measured based on the consideration specified in a contract with a customer and recognized when, or as, the Company satisfies a performance obligation by transferring control over a product or service to a customer. The Company accounts for a contract when it has approval and commitment to perform from both parties, the rights of the parties are identified, payment terms are established, the contract has commercial substance and collectability of the consideration is probable. Changes to contracts are assessed for whether they represent a modification or should be accounted for as a new contract. The Company considers the following indicators among others when determining whether it is acting as a principal in the transaction and recording revenue on a gross basis: (i) the Company is primarily responsible for fulfilling the promise to provide the specified goods or service, (ii) the Company has inventory risk before the specified good or service has been transferred to a customer or after transfer of control to the customer and (iii) the Company has discretion in establishing the price for the specified good or service. If a transaction does not The Company’s significant contracts and contractual terms with its customers are presented in Note 10, 8 10 The Company recognizes revenue when control has passed to the customer. The following indicators are evaluated in determining when control has passed to the customer: (i) the Company has a right to payment for the product or service, (ii) the customer has legal title to the product, (iii) the Company has transferred physical possession of the product to the customer, (iv) the customer has the significant risk and rewards of ownership of the product and (v) the customer has accepted the product. The Company’s renewable products are delivered to customers from the Company’s facilities with shipping terms typically specifying F.O.B. shipping point. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company's contracts may The following is a description of the principal goods and services from which the Company generates revenue. Renewable Product Sales Revenues from renewable product sales are recognized as a distinct performance obligation on a gross basis as the Company is acting as a principal in these transactions, with the selling price to the customer recorded net of discounts and allowances. Revenues are recognized at a point in time when control has passed to the customer, which typically is upon the renewable products leaving the Company’s facilities with the first may not not not two not Licenses and Royalties Licensing of Intellectual Property: Royalties from Licensing of Intellectual Property: When the Company’s intellectual property license is the only performance obligation, or it is the predominant performance obligation in arrangements with multiple performance obligations, the Company applies the sales-based royalty exception and revenue is estimated and recognized at a point in time when the licensee’s product sales occur. Estimates of sales-based royalty revenues are made using the most likely outcome method, which is the single amount in a range of possible amounts derived from the licensee’s historical sales volumes and sales prices of its products and recent commodity market pricing data and trends. When the Company’s intellectual property license is not not Grants and Collaborative Research and Development Services Collaborative Research and Development Services: one Collaboration agreements are evaluated at inception to determine whether the intellectual property licenses represent distinct performance obligations separate from the research and development services. If the licenses are determined to be distinct, the non-refundable upfront license fee is recognized as revenue at a point in time when the license is transferred to the licensee and the licensee is able to use and benefit from the license while the research and development service fees are recognized over time as the performance obligations are satisfied. The research and development service fees represent variable consideration. Estimates of the amount of variable consideration to include in the transaction price are made using the expected value method, which is the sum of probability-weighted amounts in a range of possible amounts. The Company only includes an amount of variable consideration in the transaction price to the extent it is probable that a significant reversal in the cumulative revenue recognized will not Collaboration agreements that include milestone payments are evaluated at inception to determine whether the milestone events are considered probable of achievement and estimates are made of the amount of the milestone payments to include in the transaction price using the most likely amount method which is the single amount in a range of possible amounts. If it is probable that a significant revenue reversal will not The Company generally invoices its collaborators on a monthly or quarterly basis, or upon the completion of the effort or achievement of a milestone, based on the terms of each agreement. Deferred revenue arises from amounts received in advance of performing the research and development activities and is recognized as revenue in future periods as the performance obligations are satisfied. Grants: The milestone payments are evaluated at inception to determine whether the milestone events are considered probable of achievement and estimates are made of the amount of the milestone payments to include in the transaction price using the most likely amount method which is the single amount in a range of possible amounts. If it is probable that a significant revenue reversal will not Disaggregation of Revenue Revenue for the three March 31, 2018 2017, 10, The following table presents revenue by major product and service, as well as, by primary geographical market and is based on the location of the customer: Three Months Ended March 31, (In thousands) 2018 2017 Renewable Products Licenses and Royalties Grants and Collaborations Total Renewable Products Licenses and Royalties Grants and Collaborations Total United States $ 1,962 $ — $ 1,208 $ 3,170 $ 1,096 $ 10 $ 1,990 $ 3,096 Europe 2,434 11,437 3,500 17,371 2,558 245 2,573 5,376 Asia 678 — 1,000 1,678 4,308 125 4,433 Brazil 5 — 658 663 19 19 Other 116 — — 116 56 56 $ 5,195 $ 11,437 $ 6,366 $ 22,998 $ 8,037 $ 255 $ 4,688 $ 12,980 The following table presents the amounts by which revenue is affected in the current reporting period by the application of ASC 606 No 606. Three Months Ended March 31, 2018 (In thousands) As Reported Adjustments Amounts Without the Adoption of ASC 606 Renewable products $ 5,195 $ — $ 5,195 Licenses and royalties 11,437 (11,437 ) — Grants and collaborations 6,366 444 6,810 Total revenue from all customers $ 22,998 $ (10,993 ) $ 12,005 The Company’s accounting policy under the legacy revenue recognition guidance of ASC 605 1, 8 10 Contract Assets, Contract Liabilities, and Accounts Receivable When a contract results in revenue being recognized in excess of the amount the Company has invoiced or has the right to invoice to the customer, a contract asset is recognized. Contract assets are transferred to accounts receivable, net when the rights to the consideration become unconditional. Contract assets are presented as Unbilled receivables on the consolidated balance sheets. Contract liabilities consist of payments received from customers, or such consideration that is contractually due, in advance of providing the product or performing services such that control has not Trade receivables related to revenue from contracts with customers are included in accounts receivable on the consolidated balance sheets, net of the allowance for doubtful accounts. Trade accounts receivable are recorded at the point of renewable product sale or in accordance with the contractual payment terms for licenses and royalties, and grants and collaborative research and development services for the amount payable by the customer to the Company for sale of goods or the performance of services. Contract Balances The following table provides information about unbilled receivables, deferred revenue, and accounts receivable from contracts with customers: (In thousands) March 31, 2018 December 31, 2017 Unbilled receivables, current $ 9,247 $ 9,340 Unbilled receivables, noncurrent $ 7,940 $ 7,940 Deferred revenue, current $ 6,466 $ 4,880 Deferred revenue, noncurrent $ — (1) $ — (1) Accounts receivable, net $ 25,730 $ 24,281 ( 1 $0.4 Unbilled receivables, current and noncurrent, relate to the Company’s right to consideration from DSM for minimum future royalties. The Company’s right to cash receipt for these minimum royalty amounts occurs on or before December 31, 2018 December 31, 2019, Deferred revenue, current increased by $1.6 March 31, 2018 $0.8 606 January 1, 2018 three March 31, 2018. $1.7 three March 31, 2018 Costs to Obtain and Fulfill a Contract We generally do not Remaining Performance Obligations The following table provides information of the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) based on the Company's existing agreements with customers as of March 31, 2018. (In thousands) March 31, 2018 Remaining 2018 $ 7,197 2019 8,865 2020 7,656 2021 and thereafter 828 $ 24,546 In accordance with the disclosure provisions of ASC 606, one For descriptions of the Company's other significant accounting policies, see the Company's Annual Report on Form 10 December 31, 2017. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements (a) Recent Accounting Standards Pronouncements or Updates Recently Adopted In the three March 31, 2018, Revenue Recognition 606 January 1, 2018. 606 606 not January 1, 2018. not 605, The Company applied ASC 606 January 1, 2018, The cumulative effect of initially applying ASC 606 January 1, 2018 $0.8 $0.8 606 605. not Financial Instruments January 2016, 2016 01, Financial Instruments-Overall (Subtopic 825 10 2016 01 January 1, 2018 $1.4 January 1, 2018 January 1, 2018 Classification of Cash Flow Elements August 2016, 2016 15, Statement of Cash Flows (Topic 230 2016 15 2016 15, 2016 15 January 1, 2018 2016 15, Restricted Cash in Statement of Cash Flows November 2016, 2016 18, Statement of Cash Flows (Topic 230 January 1, 2018 2016 18 Derecognition of Nonfinancial Assets February 2017, 2017 05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610 20 606 not 1 not not not 2 not January 1, 2018 not (b) Recent Accounting Standards Pronouncements or Updates Not Leases February 2016, 2016 02, Leases (Topic 842 first 2019 may Financial Instruments with "Down Round" Features July 2017, 2017 11, Earnings Per Share (Topic 260 480 815 no first 2019 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates, and such differences may |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation in the Company’s condensed consolidated financial statements and the accompanying notes to the condensed consolidated financial statements. The condensed consolidated statements of operations previously presented license fee revenue in combination with grants and collaborations revenue, and royalties (formerly referred to as “value share”) were previously presented in combination with renewable products revenue. Licenses and royalties revenue is presented as a separate line within the condensed consolidated statements of operations. The reclassifications reflect the growth in the Company’s business model of licensing its technology and earning royalties from customers utilizing the Company’s technology in the products it produces and sells. The reclassifications had no |
Note 1 - Basis of Presentatio24
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, (In thousands) 2018 2017 Renewable Products Licenses and Royalties Grants and Collaborations Total Renewable Products Licenses and Royalties Grants and Collaborations Total United States $ 1,962 $ — $ 1,208 $ 3,170 $ 1,096 $ 10 $ 1,990 $ 3,096 Europe 2,434 11,437 3,500 17,371 2,558 245 2,573 5,376 Asia 678 — 1,000 1,678 4,308 125 4,433 Brazil 5 — 658 663 19 19 Other 116 — — 116 56 56 $ 5,195 $ 11,437 $ 6,366 $ 22,998 $ 8,037 $ 255 $ 4,688 $ 12,980 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Three Months Ended March 31, 2018 (In thousands) As Reported Adjustments Amounts Without the Adoption of ASC 606 Renewable products $ 5,195 $ — $ 5,195 Licenses and royalties 11,437 (11,437 ) — Grants and collaborations 6,366 444 6,810 Total revenue from all customers $ 22,998 $ (10,993 ) $ 12,005 |
Contract with Customer, Asset and Liability [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Unbilled receivables, current $ 9,247 $ 9,340 Unbilled receivables, noncurrent $ 7,940 $ 7,940 Deferred revenue, current $ 6,466 $ 4,880 Deferred revenue, noncurrent $ — (1) $ — (1) Accounts receivable, net $ 25,730 $ 24,281 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | (In thousands) March 31, 2018 Remaining 2018 $ 7,197 2019 8,865 2020 7,656 2021 and thereafter 828 $ 24,546 |
Note 2 - Balance Sheet Details
Note 2 - Balance Sheet Details (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Accounts receivable $ 7,035 $ 18,953 Related party accounts receivable 18,695 5,328 $ 25,730 $ 24,281 |
Schedule of Inventory, Current [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Raw materials $ 871 $ 819 Work-in-process 173 364 Finished goods 3,954 4,225 Inventories $ 4,998 $ 5,408 |
Property, Plant and Equipment [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Machinery and equipment $ 48,911 $ 49,277 Leasehold improvements 40,196 40,036 Computers and software 10,415 9,555 Furniture and office equipment, vehicles and land 3,518 3,415 Construction in progress 17,145 17,438 120,185 119,721 Less: accumulated depreciation and amortization (107,305 ) (105,829 ) Property, plant and equipment, net $ 12,880 $ 13,892 |
Schedule of Other Assets, Noncurrent [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Contingent consideration $ 8,151 $ 8,151 Prepaid royalty 7,384 7,409 Equity investment in SweeGen 2,168 3,233 Deposits 2,760 2,462 Goodwill 560 560 Other 279 825 Other assets $ 21,302 $ 22,640 |
Schedule of Accrued and Other Current Liabilities [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Accrued interest $ 8,011 $ 8,213 Payroll and related expenses 6,797 7,238 SMA relocation accrual 3,571 3,587 Tax-related liabilities 2,524 5,837 Professional services 1,756 1,894 Other 3,963 2,633 Total accrued and other current liabilities $ 26,622 $ 29,402 |
Other Liabilities [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Deferred rent, net of current portion $ 7,821 $ 7,818 Deferred revenue, net of current portion 383 383 Capital lease obligation, net of current portion 225 217 Other liabilities 552 2,214 Total other noncurrent liabilities $ 8,981 $ 10,632 |
Note 3 - Fair Value Measureme26
Note 3 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds $ — $ — $ — $ — $ 53,199 $ — $ — $ 53,199 Certificates of deposit 1,159 — — 1,159 7,813 — — 7,813 Equity investment in SweeGen — 2,168 — 2,168 — — — — Total assets measured and recorded at fair value $ 1,159 $ 2,168 $ — $ 3,327 $ 61,012 $ — $ — $ 61,012 Liabilities Embedded derivatives in connection with the issuance of debt and equity instruments $ — $ — $ 15,305 $ 15,305 $ — $ — $ 4,203 $ 4,203 Freestanding derivative instruments in connection with the issuance of equity instruments — — 167,884 167,884 — — 115,775 115,775 Total liabilities measured and recorded at fair value $ — $ — $ 183,189 $ 183,189 $ — $ — $ 119,978 $ 119,978 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (In thousands) 2018 2017 Balance at January 1 $ 119,978 $ 4,135 (Gain) loss from change in fair value of derivative liabilities 63,913 (1,984 ) Additions — 577 Derecognition upon conversion or extinguishment (702 ) — Balance at March 31 $ 183,189 $ 2,728 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 31, 2018 March 31, 2017 Risk-free interest rate 1.96% - 2.74% 0.74% - 1.30% Risk-adjusted yields 16.30% - 26.43% 12.50% - 22.63% Stock price volatility 45% - 80% 45% Probability of change in control 5% 5% Stock price $6.69 $7.95 Credit spread 14.26% - 24.33% 11.28% - 21.35% Estimated conversion dates 2018 - 2025 2017 - 2019 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Total debt $ 159,027 $ 163,059 $ 156,900 $ 165,377 |
Note 4 - Debt (Tables)
Note 4 - Debt (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, 2018 December 31, 2017 (In thousands) Principal Unamortized Debt Discount Net Balance Principal Unamortized Debt Discount Net Balance Nonrelated Party Convertible notes 2015 Rule 144A convertible notes $ 37,887 $ (5,866 ) $ 32,021 $ 37,887 $ (6,872 ) $ 31,015 2014 Rule 144A convertible notes 24,004 (2,600 ) 21,404 24,004 (3,170 ) 20,834 December 2017 convertible note 2,500 (10 ) 2,490 5,000 (25 ) 4,975 August 2013 financing convertible notes 4,416 (2,806 ) 1,610 4,009 (2,918 ) 1,091 68,807 (11,282 ) 57,525 70,900 (12,985 ) 57,915 Loans payable and credit facilities Senior secured loan facility 27,316 (136 ) 27,180 28,566 (253 ) 28,313 Ginkgo notes 12,000 (4,803 ) 7,197 12,000 (4,983 ) 7,017 Other loans payable 5,796 (1,256 ) 4,540 6,463 (1,277 ) 5,186 Other credit facilities 305 — 305 381 — 381 45,417 (6,195 ) 39,222 47,410 (6,513 ) 40,897 Subtotal nonrelated party 114,224 (17,477 ) 96,747 118,310 (19,498 ) 98,812 Related Party Related party convertible notes August 2013 financing convertible notes 22,516 665 23,181 21,711 897 22,608 2014 Rule 144A convertible notes 24,705 (3,107 ) 21,598 24,705 (3,784 ) 20,921 R&D note 3,700 — 3,700 3,700 (18 ) 3,682 50,921 (2,442 ) 48,479 50,116 (2,905 ) 47,211 Related party loans payable DSM note 25,000 (7,634 ) 17,366 25,000 (8,039 ) 16,961 Other DSM loan 467 — 467 393 — 393 February 2016 private placement — — — 2,000 — 2,000 25,467 (7,634 ) 17,833 27,393 (8,039 ) 19,354 Subtotal related party 76,388 (10,076 ) 66,312 77,509 (10,944 ) 66,565 Total debt 190,612 (27,553 ) 163,059 195,819 (30,442 ) 165,377 Less: current portion (61,423 ) (56,943 ) Long-term debt, net of current portion $ 101,636 $ 108,434 |
Note 5 - Mezzanine Equity (Tabl
Note 5 - Mezzanine Equity (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Mezzanine Equity Table [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Contingently redeemable common stock $ 5,000 $ 5,000 |
Note 6 - Stockholders' Deficit
Note 6 - Stockholders' Deficit (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Transaction Transaction Type Number Outstanding as of December 31, 2017 Additional Warrants Issued Exercises Number Outstanding as of March 31, 2018 July 2015 private placement Equity 81,197 — — 81,197 July 2015 debt exchange Debt exchange 2,082,010 — — 2,082,010 February 2016 related party private placement Debt 171,429 — — 171,429 May 2017 offerings (Series A and B preferred stock) Equity / debt conversion 18,042,568 — (162,392 ) 17,880,176 August 2017 DSM offering (Series B preferred stock) Equity 3,968,116 — — 3,968,116 August 2017 Vivo offering (Series D preferred stock) Equity 5,575,118 — — 5,575,118 Other — 1,406 — — 1,406 29,921,844 — (162,392 ) 29,759,452 |
Note 7 - Variable-interest En30
Note 7 - Variable-interest Entities and Unconsolidated Investments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Assets 36,747 36,781 Liabilities 2,535 3,187 |
Unconsolidated Investments [Table Text Block] | Carrying Value of Investment on Condensed Consolidated Balance Sheets (Amounts in thousands) Amyris Equity Ownership % March 31, 2018 December 31, 2017 Equity-method investments: Novvi LLC 20% $ — $ — Total Amyris BioSolutions B.V. 25% $ — $ — Other unconsolidated equity investment: SweeGeen, Inc. 3% $ 2,168 $ 3,233 |
Note 8 - Net Loss Per Share A31
Note 8 - Net Loss Per Share Attributable to Common Stockholders (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2018 2017 Numerator: Net loss attributable to Amyris, Inc. $ (91,496 ) $ (37,371 ) Less cumulative dividends on Series A and Series B preferred stock (395 ) — Net loss attributable to Amyris, Inc. common stockholders, basic and diluted $ (91,891 ) $ (37,371 ) Denominator: Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted 51,200,922 19,335,948 Net loss per share, basic and diluted $ (1.79 ) $ (1.93 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | As of March 31, 2018 2017 Stock options to purchase common stock 1,365,447 901,152 Convertible promissory notes (1) 8,347,364 4,855,074 Period-end common stock warrants 29,759,452 334,740 Period-end restricted stock units 706,697 481,603 Period-end preferred stock 4,504,212 — Total potentially dilutive securities excluded from computation of diluted net loss per share 44,683,172 6,572,569 |
Note 9 - Commitments and Cont32
Note 9 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule Of Future Minimum Payments For Lease Obligations [Table Text Block] | Years ending December 31: (In thousands) Capital Operating Total Lease Obligations 2018 (remaining nine months) $ 475 $ 7,414 $ 7,889 2019 229 8,774 9,003 2020 67 7,035 7,102 2021 — 7,259 7,259 2022 — 7,432 7,432 Thereafter — 3,322 3,322 Total future minimum payments $ 771 $ 41,236 $ 42,007 Less: amount representing interest (34 ) Present value of minimum lease payments 737 Less: current portion (512 ) Long-term portion $ 225 |
Note 10 - Significant Revenue33
Note 10 - Significant Revenue Agreements (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Revenue in Connection with Significant Revenue Agreement [Table Text Block] | Three Months Ended March 31, (In thousands) 2018 2017 Renewable Products Licenses and Royalties Grants and Collaborations Total Renewable Products Licenses and Royalties Grants and Collaborations Total DSM $ — $ 11,400 $ 1,390 $ 12,790 $ — $ — $ — $ — Givaudan 1,076 — 1,500 2,576 619 — 1,500 2,119 Firmenich 207 37 1,267 1,511 997 245 1,074 2,316 Nenter — — 1,000 1,000 2,309 — — 2,309 DARPA — — 846 846 — — 972 972 Subtotal revenue from significant revenue agreements 1,283 11,437 6,003 18,723 3,925 245 3,546 7,716 Revenue from all other customers 3,912 — 363 4,275 4,112 10 1,142 5,264 Total revenue from all customers $ 5,195 $ 11,437 $ 6,366 $ 22,998 $ 8,037 $ 255 $ 4,688 $ 12,980 |
Note 11 - Related Party Trans34
Note 11 - Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Related Party Debt [Table Text Block] | March 31, 2018 December 31, 2017 (in thousands) Principal Unamortized Debt Discount Net Balance Principal Unamortized Debt Discount Net Balance Total R&D note $ 3,700 $ — $ 3,700 $ 3,700 $ (18 ) $ 3,682 August 2013 financing convertible notes 22,516 665 23,181 21,711 897 22,608 2014 Rule 144A convertible notes 9,705 (1,263 ) 8,442 9,705 (1,538 ) 8,167 35,921 (598 ) 35,323 35,116 (659 ) 34,457 DSM DSM note 25,000 (7,635 ) 17,365 25,000 (8,039 ) 16,961 Other DSM loan 467 — 467 393 — 393 25,467 (7,635 ) 17,832 25,393 (8,039 ) 17,354 Biolding February 2016 private placement — — — 2,000 — 2,000 Foris 2014 Rule 144A convertible notes 5,000 (541 ) 4,459 5,000 (660 ) 4,340 Temasek 2014 Rule 144A convertible notes 10,000 (1,302 ) 8,698 10,000 (1,586 ) 8,414 $ 76,388 $ (10,076 ) $ 66,312 $ 77,509 $ (10,944 ) $ 66,565 |
Schedule of Related Party Accounts Receivables [Table Text Block] | (In thousands) March 31, 2018 December 31, 2017 Accounts receivable, net: DSM $ 18,139 $ 3,483 Novvi 294 1,607 Total 262 238 $ 18,695 $ 5,328 Unbilled receivable, current: DSM $ 9,210 $ 9,340 Unbilled receivable, noncurrent: DSM $ 7,940 $ 7,940 |
Note 12 - Stock-based Compens35
Note 12 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | Quantity of Stock Options Weighted- Weighted-average Aggregate Outstanding - December 31, 2017 1,338,367 $ 33.40 7.7 $ 97 Granted 54,600 $ 4.95 Exercised (7,004 ) $ 3.68 Forfeited or expired (20,516 ) $ 57.86 Outstanding - March 31, 2018 1,365,447 $ 32.04 7.6 $ 1,632 Vested or expected to vest after March 31, 2018 1,282,903 $ 33.60 7.5 $ 1,525 Exercisable at March 31, 2018 936,291 $ 42.53 7.0 $ 1,114 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Quantity of Restricted Stock Units Weighted-average Grant-date Fair Value Weighted-average Remaining Contractual Life, in Years Outstanding - December 31, 2017 683,554 $ 8.66 1.40 Awarded 60,519 $ 5.01 RSUs released (32,675 ) $ 12.37 RSUs forfeited (4,701 ) $ 8.88 Outstanding - March 31, 2018 706,697 $ 8.16 1.29 Vested or expected to vest after March 31, 2018 563,906 $ 8.42 1.14 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended March 31, (In thousands) 2018 2017 Research and development $ 363 $ 484 Sales, general and administrative 915 1,162 Total stock-based compensation expense $ 1,278 $ 1,646 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended March 31, 2018 2017 Expected dividend yield — % — % Risk-free interest rate 2.6 % 2.1 % Expected term (in years) 6.13 6.15 Expected volatility 80.5 % 80.0 % |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended March 31, (In thousands) 2018 2017 Benefit from income taxes $ — $ 41 |
Note 1 - Basis of Presentatio37
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Dec. 28, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jan. 01, 2018 | Dec. 31, 2017 |
Revenue from Contract with Customer, Including Assessed Tax | $ 22,998 | $ 12,980 | |||
Working Capital | (60,800) | $ (59,600) | |||
Retained Earnings (Accumulated Deficit), Ending Balance | (1,300,447) | (1,206,767) | |||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total | 27,400 | ||||
Long-term Debt, Total | 163,059 | 165,377 | |||
Long-term Debt, Current Maturities, Including Due to Related Parties | 61,423 | 56,943 | |||
Convertible Debt, Total | 22,500 | ||||
Long-term Debt, Maturities, Repayments of Principal and Interest in Next 15 Months | 161,700 | ||||
Long-term Debt, Maturities, Repayments of Interest in Next 15 Months | 11,000 | ||||
Cash, Cash Equivalents, and Short-term Investments, Total | 24,100 | ||||
Deferred Revenue, Noncurrent | 383 | 383 | |||
Increase (Decrease) in Deferred Revenue | 1,600 | ||||
Contract with Customer, Liability, Current | 6,466 | 4,880 | |||
Deferred Revenue, Revenue Recognized | 1,700 | ||||
Accounting Standards Update 2014-09 [Member] | |||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (800) | ||||
Contract with Customer, Liability, Current | 800 | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (804) | ||||
Accounting Standards Update 2016-01 [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (1,400) | $ (1,380) | |||
Other Noncurrent Liabilities [Member] | |||||
Deferred Revenue, Noncurrent | $ 400 | ||||
DSM [Member] | |||||
Future Minimum Annual Royalty Payments Receivable, Fair Value | $ 17,800 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 25,000 | ||||
License [Member] | DSM [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 27,500 | ||||
Royalty [Member] | DSM [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 15,000 | ||||
Amyris Brasil [Member] | |||||
Disposal Group, Including Discontinued Operation, Consideration | 56,900 | ||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 5,700 | ||||
Proceeds from Divestiture of Businesses | 33,000 | ||||
Repayments of Debt | $ 12,600 |
Note 1 - Basis of Presentatio38
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues | $ 22,998 | $ 12,980 |
Product [Member] | ||
Revenues | 5,195 | 8,037 |
Licenses and Royalties [Member] | ||
Revenues | 11,437 | 255 |
Grants and Collaborations [Member] | ||
Revenues | 6,366 | 4,688 |
UNITED STATES | ||
Revenues | 3,170 | 3,096 |
UNITED STATES | Product [Member] | ||
Revenues | 1,962 | 1,096 |
UNITED STATES | Licenses and Royalties [Member] | ||
Revenues | 10 | |
UNITED STATES | Grants and Collaborations [Member] | ||
Revenues | 1,208 | 1,990 |
Europe [Member] | ||
Revenues | 17,371 | 5,376 |
Europe [Member] | Product [Member] | ||
Revenues | 2,434 | 2,558 |
Europe [Member] | Licenses and Royalties [Member] | ||
Revenues | 11,437 | 245 |
Europe [Member] | Grants and Collaborations [Member] | ||
Revenues | 3,500 | 2,573 |
Asia [Member] | ||
Revenues | 1,678 | 4,433 |
Asia [Member] | Product [Member] | ||
Revenues | 678 | 4,308 |
Asia [Member] | Licenses and Royalties [Member] | ||
Revenues | ||
Asia [Member] | Grants and Collaborations [Member] | ||
Revenues | 1,000 | 125 |
BRAZIL | ||
Revenues | 663 | 19 |
BRAZIL | Product [Member] | ||
Revenues | 5 | 19 |
BRAZIL | Licenses and Royalties [Member] | ||
Revenues | ||
BRAZIL | Grants and Collaborations [Member] | ||
Revenues | 658 | |
Other Area [Member] | ||
Revenues | 116 | 56 |
Other Area [Member] | Product [Member] | ||
Revenues | 116 | 56 |
Other Area [Member] | Licenses and Royalties [Member] | ||
Revenues | ||
Other Area [Member] | Grants and Collaborations [Member] | ||
Revenues |
Note 1 - Basis of Presentatio39
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Adoption of ASC 606 (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues | $ 22,998 | $ 12,980 |
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||
Revenues | (10,993) | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
Revenues | 12,005 | |
Product [Member] | ||
Revenues | 5,195 | 8,037 |
Product [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||
Revenues | ||
Product [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
Revenues | 5,195 | |
Licenses and Royalties [Member] | ||
Revenues | 11,437 | 255 |
Licenses and Royalties [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||
Revenues | (11,437) | |
Licenses and Royalties [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
Revenues | ||
Grants and Collaborations [Member] | ||
Revenues | 6,366 | $ 4,688 |
Grants and Collaborations [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||
Revenues | 444 | |
Grants and Collaborations [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
Revenues | $ 6,810 |
Note 1 - Basis of Presentatio40
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Unbilled receivable | $ 9,247 | $ 9,340 | |
Unbilled receivable, noncurrent | 7,940 | 7,940 | |
Deferred revenue, current | 6,466 | 4,880 | |
Deferred revenue, noncurrent | [1] | ||
Accounts receivable, net | $ 25,730 | $ 24,281 | |
[1] | Approximately $0.4 million of deferred revenue, noncurrent is presented in Other noncurrent liabilities in the consolidated balance sheets because of its insignificance. |
Note 1 - Basis of Presentatio41
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Remaining Performance Obligations (Details) $ in Thousands | Mar. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01 | |
Remaining performance obligation | $ 7,197 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Remaining performance obligation | 8,865 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Remaining performance obligation | 7,656 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Remaining performance obligation | 828 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Remaining performance obligation | $ 24,546 |
Note 2 - Balance Sheet Detail42
Note 2 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Property, Plant and Equipment, Net, Ending Balance | $ 12,880 | $ 13,892 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance | 107,305 | 105,829 | |
Depreciation, Depletion and Amortization, Total | 1,561 | $ 2,715 | |
Property, Plant and Equipment, Including Capital Leases [Member] | |||
Depreciation, Depletion and Amortization, Total | 1,600 | $ 2,700 | |
Capital Lease Obligations [Member] | |||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance | 1,700 | 1,600 | |
Capital Lease Obligations [Member] | Machinery and Equipment, Furniture and Office Equipment Under Capital Lease [Member] | |||
Property, Plant and Equipment, Net, Ending Balance | $ 3,400 | $ 4,200 |
Note 2 - Balance Sheet Detail43
Note 2 - Balance Sheet Details - Accounts Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts receivable | $ 7,035 | $ 18,953 |
Related party accounts receivable | 18,695 | 5,328 |
$ 25,730 | $ 24,281 |
Note 2 - Balance Sheet Detail44
Note 2 - Balance Sheet Details - Inventory, Current (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Raw materials | $ 871 | $ 819 |
Work-in-process | 173 | 364 |
Finished goods | 3,954 | 4,225 |
Inventories | $ 4,998 | $ 5,408 |
Note 2 - Balance Sheet Detail45
Note 2 - Balance Sheet Details - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Property, plant and equipment | $ 120,185 | $ 119,721 |
Less: accumulated depreciation and amortization | (107,305) | (105,829) |
Property, plant and equipment, net | 12,880 | 13,892 |
Machinery and Equipment [Member] | ||
Property, plant and equipment | 48,911 | 49,277 |
Leasehold Improvements [Member] | ||
Property, plant and equipment | 40,196 | 40,036 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment | 10,415 | 9,555 |
Furniture and Office Equipment, Vehicles and Land [Member] | ||
Property, plant and equipment | 3,518 | 3,415 |
Construction in Progress [Member] | ||
Property, plant and equipment | $ 17,145 | $ 17,438 |
Note 2 - Balance Sheet Detail46
Note 2 - Balance Sheet Details - Other Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Contingent consideration | $ 8,151 | $ 8,151 |
Prepaid royalty | 7,384 | 7,409 |
Equity investment in SweeGen | 2,168 | 3,233 |
Deposits | 2,760 | 2,462 |
Goodwill | 560 | 560 |
Other | 279 | 825 |
Other assets | $ 21,302 | $ 22,640 |
Note 2 - Balance Sheet Detail47
Note 2 - Balance Sheet Details - Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accrued interest | $ 8,011 | $ 8,213 |
Payroll and related expenses | 6,797 | 7,238 |
SMA relocation accrual | 3,571 | 3,587 |
Tax-related liabilities | 2,524 | 5,837 |
Professional services | 1,756 | 1,894 |
Other | 3,963 | 2,633 |
Total accrued and other current liabilities | $ 26,622 | $ 29,402 |
Note 2 - Balance Sheet Detail48
Note 2 - Balance Sheet Details - Other Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deferred rent, net of current portion | $ 7,821 | $ 7,818 |
Deferred revenue, net of current portion | 383 | 383 |
Capital lease obligation, net of current portion | 225 | 217 |
Other liabilities | 552 | 2,214 |
Total other noncurrent liabilities | $ 8,981 | $ 10,632 |
Note 3 - Fair Value Measureme49
Note 3 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Equity Securities, FV-NI | $ 2,168 | $ 3,233 | |
Equity Securities, FV-NI, Unrealized Gain | $ 315 | ||
SweeGen Common Stock [Member] | |||
Equity Securities, Number of Unregistered Shares Hold | 850,115 | ||
Equity Securities, FV-NI, Unrealized Gain | $ 300 | ||
SweeGen Common Stock [Member] | Other Noncurrent Assets [Member] | |||
Equity Securities, FV-NI | $ 2,200 | $ 2,000 |
Note 3 - Fair Value Measureme50
Note 3 - Fair Value Measurement - Fair Value, Assets, and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Equity investment in SweeGen | $ 2,168 | $ 3,233 |
Fair Value, Measurements, Recurring [Member] | ||
Money market funds | 53,199 | |
Certificates of deposit | 1,159 | 7,813 |
Equity investment in SweeGen | 2,168 | |
Total assets measured and recorded at fair value | 3,327 | 61,012 |
Embedded derivatives in connection with the issuance of debt and equity instruments | 15,305 | 4,203 |
Freestanding derivative instruments in connection with the issuance of equity instruments | 167,884 | 115,775 |
Total liabilities measured and recorded at fair value | 183,189 | 119,978 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Money market funds | 53,199 | |
Certificates of deposit | 1,159 | 7,813 |
Equity investment in SweeGen | ||
Total assets measured and recorded at fair value | 1,159 | 61,012 |
Embedded derivatives in connection with the issuance of debt and equity instruments | ||
Freestanding derivative instruments in connection with the issuance of equity instruments | ||
Total liabilities measured and recorded at fair value | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Money market funds | ||
Certificates of deposit | ||
Equity investment in SweeGen | 2,168 | |
Total assets measured and recorded at fair value | 2,168 | |
Embedded derivatives in connection with the issuance of debt and equity instruments | ||
Freestanding derivative instruments in connection with the issuance of equity instruments | ||
Total liabilities measured and recorded at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Money market funds | ||
Certificates of deposit | ||
Equity investment in SweeGen | ||
Total assets measured and recorded at fair value | ||
Embedded derivatives in connection with the issuance of debt and equity instruments | 15,305 | 4,203 |
Freestanding derivative instruments in connection with the issuance of equity instruments | 167,884 | 115,775 |
Total liabilities measured and recorded at fair value | $ 183,189 | $ 119,978 |
Note 3 - Fair Value Measureme51
Note 3 - Fair Value Measurement - Reconciliation for Compound Embedded Derivative Liability (Details) - Fair Value, Inputs, Level 3 [Member] - Derivative Liability, Compound Embedded Derivatives [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Balance, compound embedded derivative liabilities | $ 119,978 | $ 4,135 |
(Gain) loss from change in fair value of derivative liabilities | 63,913 | (1,984) |
Additions | 577 | |
Derecognition upon conversion or extinguishment | (702) | |
Balance, compound embedded derivative liabilities | $ 183,189 | $ 2,728 |
Note 3 - Fair Value Measureme52
Note 3 - Fair Value Measurement - Market-based Assumption and Estimates for Compound Embedded Derivative Liabilities Valuation (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018$ / shares | Dec. 31, 2017$ / shares | |
Share Price | $ 6.69 | $ 7.95 |
Measurement Input, Price Volatility [Member] | ||
Risk-free interest rate | 45 | |
Measurement Input, Probability of Change in Control [Member] | ||
Risk-free interest rate | 5 | 5 |
Minimum [Member] | ||
Estimated conversion dates | 2,018 | 2,017 |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Risk-free interest rate | 1.96 | 0.74 |
Minimum [Member] | Measurement Input, Risk-adjusted Yields [Member] | ||
Risk-free interest rate | 16.3 | 12.5 |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Risk-free interest rate | 45 | |
Minimum [Member] | Measurement Input, Credit Spread [Member] | ||
Risk-free interest rate | 14.26 | 11.28 |
Maximum [Member] | ||
Estimated conversion dates | 2,025 | 2,019 |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Risk-free interest rate | 2.74 | 1.3 |
Maximum [Member] | Measurement Input, Risk-adjusted Yields [Member] | ||
Risk-free interest rate | 26.43 | 22.63 |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Risk-free interest rate | 80 | |
Maximum [Member] | Measurement Input, Credit Spread [Member] | ||
Risk-free interest rate | 24.33 | 21.35 |
Note 3 - Fair Value Measureme53
Note 3 - Fair Value Measurement - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Total debt | $ 159,027 | $ 156,900 |
Reported Value Measurement [Member] | ||
Total debt | $ 163,059 | $ 165,377 |
Note 4 - Debt (Details Textual)
Note 4 - Debt (Details Textual) - USD ($) $ in Thousands | May 31, 2018 | Mar. 31, 2018 | May 31, 2018 | Mar. 31, 2018 |
Debt Conversion, Original Debt, Amount | $ 0 | |||
Stegodon [Member] | Loan and Security Agreement [Member] | ||||
Repayments of Lines of Credit | $ 5,500 | |||
Stegodon [Member] | Loan and Security Agreement [Member] | Scenario, Forecast [Member] | ||||
Repayments of Lines of Credit | $ 5,500 | |||
Debt Instrument, Interest Rate, Increase (Decrease) | 5.00% |
Note 4 - Debt - Debt Components
Note 4 - Debt - Debt Components (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Debt, principal | $ 190,612 | $ 195,819 |
Unamortized debt (discount) premium | (27,553) | (30,442) |
Debt | 163,059 | 165,377 |
Debt, current | 61,423 | 56,943 |
Debt, noncurrent | 101,636 | 108,434 |
Convertible Debt [Member] | ||
Debt, principal | 68,807 | 70,900 |
Unamortized debt (discount) premium | (11,282) | (12,985) |
Debt | 57,525 | 57,915 |
Convertible Debt [Member] | The 2015 144A Notes [Member] | ||
Debt, principal | 37,887 | 37,887 |
Unamortized debt (discount) premium | (5,866) | (6,872) |
Debt | 32,021 | 31,015 |
Convertible Debt [Member] | The 2014 144A Notes [Member] | ||
Debt, principal | 24,004 | 24,004 |
Unamortized debt (discount) premium | (2,600) | (3,170) |
Debt | 21,404 | 20,834 |
Convertible Debt [Member] | December 2017 Convertible Note [Member] | ||
Debt, principal | 2,500 | 5,000 |
Unamortized debt (discount) premium | (10) | (25) |
Debt | 2,490 | 4,975 |
Convertible Debt [Member] | August 2013 Convertible Notes [Member] | ||
Debt, principal | 4,416 | 4,009 |
Unamortized debt (discount) premium | (2,806) | (2,918) |
Debt | 1,610 | 1,091 |
Loans Payable [Member] | ||
Debt, principal | 45,417 | 47,410 |
Unamortized debt (discount) premium | (6,195) | (6,513) |
Debt | 39,222 | 40,897 |
Loans Payable [Member] | Senior Secured Convertible Note [Member] | ||
Debt, principal | 27,316 | 28,566 |
Unamortized debt (discount) premium | (136) | (253) |
Debt | 27,180 | 28,313 |
Loans Payable [Member] | Ginkgo Collaboration Note [Member] | ||
Debt, principal | 12,000 | 12,000 |
Unamortized debt (discount) premium | (4,803) | (4,983) |
Debt | 7,197 | 7,017 |
Loans Payable [Member] | Other Loans Payable [Member] | ||
Debt, principal | 5,796 | 6,463 |
Unamortized debt (discount) premium | (1,256) | (1,277) |
Debt | 4,540 | 5,186 |
Loans Payable [Member] | Other Credit Facilities [Member] | ||
Debt, principal | 305 | 381 |
Unamortized debt (discount) premium | ||
Debt | 305 | 381 |
Nonrelated Party Debt [Member] | ||
Debt, principal | 114,224 | 118,310 |
Unamortized debt (discount) premium | (17,477) | (19,498) |
Debt | 96,747 | 98,812 |
Related Party Convertible Notes [Member] | ||
Debt, principal | 50,921 | 50,116 |
Unamortized debt (discount) premium | (2,442) | (2,905) |
Debt | 48,479 | 47,211 |
Related Party Convertible Notes [Member] | The 2014 144A Notes [Member] | ||
Debt, principal | 24,705 | 24,705 |
Unamortized debt (discount) premium | (3,107) | (3,784) |
Debt | 21,598 | 20,921 |
Related Party Convertible Notes [Member] | August 2013 Convertible Notes [Member] | ||
Debt, principal | 22,516 | 21,711 |
Unamortized debt (discount) premium | 665 | 897 |
Debt | 23,181 | 22,608 |
Related Party Convertible Notes [Member] | Secured R&D Notes [Member] | ||
Debt, principal | 3,700 | 3,700 |
Unamortized debt (discount) premium | (18) | |
Debt | 3,700 | 3,682 |
Related Party Loan Payable [Member] | ||
Debt, principal | 25,467 | 27,393 |
Unamortized debt (discount) premium | (7,634) | (8,039) |
Debt | 17,833 | 19,354 |
Related Party Loan Payable [Member] | Other Loans Payable [Member] | ||
Debt, principal | 467 | 393 |
Unamortized debt (discount) premium | ||
Debt | 467 | 393 |
Related Party Loan Payable [Member] | DSM Note [Member] | ||
Debt, principal | 25,000 | 25,000 |
Unamortized debt (discount) premium | (7,634) | (8,039) |
Debt | 17,366 | 16,961 |
Related Party Loan Payable [Member] | Private Placement February 2016 [Member] | ||
Debt, principal | 2,000 | |
Unamortized debt (discount) premium | ||
Debt | 2,000 | |
Related Party Debt [Member] | ||
Debt, principal | 76,388 | 77,509 |
Unamortized debt (discount) premium | (10,076) | (10,944) |
Debt | $ 66,312 | 66,565 |
Related Party Debt [Member] | DSM Note [Member] | ||
Debt | $ 16,961 |
Note 5 - Mezzanine Equity (Deta
Note 5 - Mezzanine Equity (Details Textual) - $ / shares | Apr. 08, 2016 | Mar. 31, 2018 | Dec. 31, 2017 |
Share Price | $ 6.69 | $ 7.95 | |
Gates Foundation Purchase Agreement [Member] | |||
Share Price | $ 17.10 | ||
Compound Annual Return | 10.00% |
Note 5 - Mezzanine Equity - Mez
Note 5 - Mezzanine Equity - Mezzanine Equity (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Contingently Redeemable Common Stock [Member] | ||
Mezzanine Equity | $ 5,000 | $ 5,000 |
Note 6 - Stockholders' Defici58
Note 6 - Stockholders' Deficit (Details Textual) - USD ($) | Mar. 08, 2016 | Mar. 31, 2018 | Mar. 31, 2017 |
Proceeds from Warrant Exercises | $ 133,000 | ||
Stock Issued During Period, Shares, Warrants Exercised | 162,392 | ||
Stock Issued During Period, Value, New Issues | $ 92,000 | ||
At the Market Offering [Member] | |||
Common Stock, Value, Subscriptions | $ 50,000,000 | 49,900,000 | |
Commission Rate | 3.00% | ||
Stock Issued During Period, Value, New Issues | $ 13,529 | ||
Shares Issued, Price Per Share | $ 7.01 |
Note 6 - Stockholders' Defici59
Note 6 - Stockholders' Deficit - Warrant Activity (Details) | 3 Months Ended |
Mar. 31, 2018shares | |
Number outstanding, beginning balance (in shares) | 29,921,844 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | (162,392) |
Number outstanding, ending balance (in shares) | 29,759,452 |
Warrant 1 [Member] | |
Number outstanding, beginning balance (in shares) | 81,197 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 81,197 |
Warrant 2 [Member] | |
Number outstanding, beginning balance (in shares) | 2,082,010 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 2,082,010 |
Warrant 3 [Member] | |
Number outstanding, beginning balance (in shares) | 171,429 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 171,429 |
Warrant 4 [Member] | |
Number outstanding, beginning balance (in shares) | 18,042,568 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | (162,392) |
Number outstanding, ending balance (in shares) | 17,880,176 |
Warrant 5 [Member] | |
Number outstanding, beginning balance (in shares) | 3,968,116 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 3,968,116 |
Warrant 6 [Member] | |
Number outstanding, beginning balance (in shares) | 5,575,118 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 5,575,118 |
Warrant 7 [Member] | |
Number outstanding, beginning balance (in shares) | 1,406 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 1,406 |
Note 7 - Variable-interest En60
Note 7 - Variable-interest Entities and Unconsolidated Investments - Variable Interest Entities (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | $ 36,747 | $ 36,781 |
Liabilities | $ 2,535 | $ 3,187 |
Note 7 - Variable-interest En61
Note 7 - Variable-interest Entities and Unconsolidated Investments - Unconsolidated Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Equity investment in SweeGen | $ 2,168 | $ 3,233 |
Novvi LLC [Member] | ||
Equity-method investment, percentage | 20.00% | |
Equity-method investment | ||
Total Amyris Biosolutions B.V. [Member] | ||
Equity-method investment, percentage | 25.00% | |
Equity-method investment | ||
SweeGen, Inc. [Member] | ||
Equity securities investment | 3.00% | |
Equity investment in SweeGen | $ 2,168 | $ 3,233 |
Note 8 - Net Loss Per Share A62
Note 8 - Net Loss Per Share Attributable to Common Stockholders - Calculation of Basic and Diluted Net Loss Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net loss attributable to Amyris, Inc. | $ (91,496) | $ (37,371) |
Less cumulative dividends on Series A and Series B preferred stock | (395) | |
Net loss attributable to Amyris, Inc. common stockholders, basic and diluted | $ (91,891) | $ (37,371) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted (in shares) | 51,200,922 | 19,335,948 |
Net loss per share, basic and diluted (in dollars per share) | $ (1.79) | $ (1.93) |
Note 8 - Net Loss Per Share A63
Note 8 - Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - shares | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Antidilutive securities (in shares) | 44,683,172 | 6,572,569 | |
Common Stock Subject to Repurchase [Member] | |||
Antidilutive securities (in shares) | 1,365,447 | 901,152 | |
Convertible Promissory Notes [Member] | |||
Antidilutive securities (in shares) | [1] | 8,347,364 | 4,855,074 |
Stock Options to Purchase Common Stock [Member] | |||
Antidilutive securities (in shares) | 29,759,452 | 334,740 | |
Restricted Stock Units (RSUs) [Member] | |||
Antidilutive securities (in shares) | 706,697 | 481,603 | |
Period-end Preferred Stock [Member] | |||
Antidilutive securities (in shares) | 4,504,212 | ||
[1] | The potentially dilutive effect of convertible promissory notes was computed based on conversion ratios in effect as of the respective period end dates. A portion of the convertible promissory notes issued carries a provision for a reduction in conversion price under certain circumstances, which could potentially increase the dilutive shares outstanding. Another portion of the convertible promissory notes issued carries a provision for an increase in the conversion rate under certain circumstances, which could also potentially increase the dilutive shares outstanding. |
Note 9 - Commitments and Cont64
Note 9 - Commitments and Contingencies (Details Textual) $ in Thousands, R$ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018USD ($) | Mar. 31, 2018BRL (R$) | Dec. 31, 2017USD ($) | Dec. 31, 2017BRL (R$) | |
Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Net, Ending Balance | $ 0 | $ 0 | ||
Equity Interest of Aprinnova JV Pledge as Collateral [Member] | ||||
Collateral, Percentage of Equity Interest in VIE | 10.00% | 10.00% | ||
FINEP Credit Facility [Member] | Chattel Mortgage [Member] | ||||
Research and Development Asset Acquired Other than Through Business Combination, Fair Value Acquired | $ 1,800 | R$ 6 | $ 1,800 | R$ 6 |
Note 9 - Commitments and Cont65
Note 9 - Commitments and Contingencies - Future Minimum Payments for Lease Obligations (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Capital leases2018 (remaining nine months) | $ 475 | |
Operating leases2018 (remaining nine months) | 7,414 | |
Total lease obligations 2018 (remaining nine months) | 7,889 | |
Capital leases 2019 | 229 | |
Operating leases 2019 | 8,774 | |
Total lease obligations 2019 | 9,003 | |
Capital leases 2020 | 67 | |
Operating leases 2020 | 7,035 | |
Total lease obligations 2020 | 7,102 | |
Capital leases 2021 | ||
Operating leases 2021 | 7,259 | |
Total lease obligations 2021 | 7,259 | |
Capital leases 2022 | ||
Operating leases 2022 | 7,432 | |
Total lease obligations 2022 | 7,432 | |
Capital leases thereafter | ||
Operating leases thereafter | 3,322 | |
Total lease obligations thereafter | 3,322 | |
Total future minimum capital lease payments | 771 | |
Total future minimum operating lease payments | 41,236 | |
Total future minimum lease payments | 42,007 | |
Less: amount representing interest | (34) | |
Present value of minimum lease payments | 737 | |
Less: current portion | (512) | |
Capital lease obligation, net of current portion | $ 225 | $ 217 |
Note 10 - Significant Revenue66
Note 10 - Significant Revenue Agreements (Details Textual) - Givaudan International, SA [Member] - Collaborative Arrangement [Member] - USD ($) $ in Millions | 1 Months Ended | 21 Months Ended |
Jun. 30, 2016 | Mar. 31, 2018 | |
Receivable from Collaborators | $ 12 | |
Semi-annual Installments from Collaborators, Amount | $ 3 | |
Proceeds from Collaborators | $ 12 |
Note 10 - Significant Revenue67
Note 10 - Significant Revenue Agreements - Revenue in Connection With Significant Revenue Agreement (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues | $ 22,998 | $ 12,980 |
Significant Revenue Agreement [Member] | ||
Revenues | 18,723 | 7,716 |
DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 12,790 | |
Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 2,576 | 2,119 |
Firmenich [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,511 | 2,316 |
Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,000 | 2,309 |
DARPA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 846 | 972 |
All Other Customers [Member] | ||
Revenues | 4,275 | 5,264 |
Renewable Products [Member] | ||
Revenues | 5,195 | 8,037 |
Renewable Products [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,283 | 3,925 |
Renewable Products [Member] | DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | ||
Renewable Products [Member] | Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,076 | 619 |
Renewable Products [Member] | Firmenich [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 207 | 997 |
Renewable Products [Member] | Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 2,309 | |
Renewable Products [Member] | DARPA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | ||
Renewable Products [Member] | All Other Customers [Member] | ||
Revenues | 3,912 | 4,112 |
Licenses and Royalties [Member] | ||
Revenues | 11,437 | 255 |
Licenses and Royalties [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 11,437 | 245 |
Licenses and Royalties [Member] | DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 11,400 | |
Licenses and Royalties [Member] | Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | ||
Licenses and Royalties [Member] | Firmenich [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 37 | 245 |
Licenses and Royalties [Member] | Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | ||
Licenses and Royalties [Member] | DARPA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | ||
Licenses and Royalties [Member] | All Other Customers [Member] | ||
Revenues | 10 | |
Grants and Collaborations [Member] | ||
Revenues | 6,366 | 4,688 |
Grants and Collaborations [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 6,003 | 3,546 |
Grants and Collaborations [Member] | DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,390 | |
Grants and Collaborations [Member] | Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,500 | 1,500 |
Grants and Collaborations [Member] | Firmenich [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,267 | 1,074 |
Grants and Collaborations [Member] | Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 1,000 | |
Grants and Collaborations [Member] | DARPA [Member] | Significant Revenue Agreement [Member] | ||
Revenues | 846 | 972 |
Grants and Collaborations [Member] | All Other Customers [Member] | ||
Revenues | $ 363 | $ 1,142 |
Note 11 - Related Party Trans68
Note 11 - Related Party Transactions - Related Party Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Related party debt, gross | $ 190,612 | $ 195,819 |
Unamortized debt (discount) premium | (27,553) | (30,442) |
Due to related parties, net | 163,059 | 165,377 |
Related Party Debt [Member] | ||
Related party debt, gross | 76,388 | 77,509 |
Unamortized debt (discount) premium | (10,076) | (10,944) |
Due to related parties, net | 66,312 | 66,565 |
Related Party Debt [Member] | Total [Member] | ||
Related party debt, gross | 35,921 | 35,116 |
Unamortized debt (discount) premium | (598) | (659) |
Due to related parties, net | 35,323 | 34,457 |
Related Party Debt [Member] | DSM International B.V. [Member] | ||
Related party debt, gross | 25,467 | 25,393 |
Unamortized debt (discount) premium | (7,635) | (8,039) |
Due to related parties, net | 17,832 | 17,354 |
Related Party Debt [Member] | Foris Ventures, LLC [Member] | ||
Related party debt, gross | 76,388 | 77,509 |
Unamortized debt (discount) premium | (10,076) | (10,944) |
Due to related parties, net | 66,312 | 66,565 |
Related Party Debt [Member] | R&D Note [Member] | Total [Member] | ||
Related party debt, gross | 3,700 | 3,700 |
Unamortized debt (discount) premium | (18) | |
Due to related parties, net | 3,700 | 3,682 |
Related Party Debt [Member] | August 2013 Convertible Notes [Member] | Total [Member] | ||
Related party debt, gross | 22,516 | 21,711 |
Unamortized debt (discount) premium | 665 | 897 |
Due to related parties, net | 23,181 | 22,608 |
Related Party Debt [Member] | The 2014 144A Notes [Member] | Total [Member] | ||
Related party debt, gross | 9,705 | 9,705 |
Unamortized debt (discount) premium | (1,263) | (1,538) |
Due to related parties, net | 8,442 | 8,167 |
Related Party Debt [Member] | DSM Note [Member] | ||
Due to related parties, net | 16,961 | |
Related Party Debt [Member] | DSM Note [Member] | DSM International B.V. [Member] | ||
Related party debt, gross | 25,000 | 25,000 |
Unamortized debt (discount) premium | (7,635) | (8,039) |
Due to related parties, net | 17,365 | |
Related Party Debt [Member] | Other Loans Payable [Member] | DSM International B.V. [Member] | ||
Related party debt, gross | 467 | 393 |
Unamortized debt (discount) premium | ||
Due to related parties, net | 467 | 393 |
Related Party Debt [Member] | Private Placement February 2016 [Member] | Biolding Investment SA [Member] | ||
Related party debt, gross | 2,000 | |
Unamortized debt (discount) premium | ||
Due to related parties, net | 2,000 | |
Related Party Debt [Member] | Related Party 2014 144A Convertible Notes [Member] | Foris Ventures, LLC [Member] | ||
Related party debt, gross | 5,000 | 5,000 |
Unamortized debt (discount) premium | (541) | (660) |
Due to related parties, net | 4,459 | 4,340 |
Related Party Debt [Member] | Related Party 2014 144A Convertible Notes [Member] | Temasek [Member] | ||
Related party debt, gross | 10,000 | 10,000 |
Unamortized debt (discount) premium | (1,302) | (1,586) |
Due to related parties, net | $ 8,698 | $ 8,414 |
Note 11 - Related Party Trans69
Note 11 - Related Party Transactions - Related Party Accounts Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts receivable, net | $ 18,695 | $ 5,328 |
Unbilled receivable, current | 9,247 | 9,340 |
Unbilled receivable, noncurrent | 7,940 | 7,940 |
DSM International B.V. [Member] | ||
Accounts receivable, net | 18,139 | 3,483 |
Unbilled receivable, current | 9,210 | 9,340 |
Unbilled receivable, noncurrent | 7,940 | 7,940 |
Novvi LLC [Member] | ||
Accounts receivable, net | 294 | 1,607 |
Total [Member] | ||
Accounts receivable, net | $ 262 | $ 238 |
Note 12 - Stock-based Compens70
Note 12 - Stock-based Compensation (Details Textual) - Employee Stock Option [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 5.8 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 146 days |
Note 12 - Stock-based Compens71
Note 12 - Stock-based Compensation - Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Outstanding (in shares) | 1,338,367 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 33.40 | |
Outstanding, weighted average remaining contractual life (Year) | 7 years 219 days | 7 years 255 days |
Outstanding, aggregate intrinsic value | $ 1,632 | $ 97 |
Granted (in shares) | 54,600 | |
Granted, weighted average exercise price (in dollars per share) | $ 4.95 | |
Exercised (in shares) | (7,004) | |
Exercised, weighted average exercise price (in dollars per share) | $ 3.68 | |
Forfeited or expired (in shares) | (20,516) | |
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 57.86 | |
Outstanding (in shares) | 1,365,447 | 1,338,367 |
Outstanding, weighted average exercise price (in dollars per share) | $ 32.04 | $ 33.40 |
Vested or expected to vest after March 31, 2018 (in shares) | 1,282,903 | |
Vested and expected to vest after December 31, 2016, weighted average exercise price (in dollars per share) | $ 33.60 | |
Vested and expected to vest after December 31, 2016, weighted average remaining contractual life (Year) | 7 years 182 days | |
Vested and expected to vest after December 31, 2016, aggregate intrinsic value | $ 1,525 | |
Exercisable at March 31, 2018 (in shares) | 936,291 | |
Exercisable at December 31, 2016, weighted average exercise price (in dollars per share) | $ 42.53 | |
Exercisable at December 31, 2016, weighted average remaining contractual life (Year) | 7 years | |
Exercisable at December 31, 2016, aggregate intrinsic value | $ 1,114 |
Note 12 - Stock-based Compens72
Note 12 - Stock-based Compensation - Temporal Display of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Outstanding, RSUs (in shares) | 683,554 | |
Outstanding, weighted average grant-date fair value (in dollars per share) | $ 8.66 | |
Outstanding, weighted average remaining contractual life (Year) | 1 year 105 days | 1 year 146 days |
Awarded (in shares) | 60,519 | |
Awarded (in dollars per share) | $ 5.01 | |
RSUs released (in shares) | (32,675) | |
RSUs released (in dollars per share) | $ 12.37 | |
RSUs forfeited (in shares) | (4,701) | |
RSUs forfeited (in dollars per share) | $ 8.88 | |
Outstanding, RSUs (in shares) | 706,697 | 683,554 |
Outstanding, weighted average grant-date fair value (in dollars per share) | $ 8.16 | $ 8.66 |
Vested or expected to vest after March 31, 2018 (in shares) | 563,906 | |
Vested or expected to vest after March 31, 2018 (in dollars per share) | $ 8.42 | |
Vested or expected to vest after March 31, 2018 (Year) | 1 year 51 days |
Note 12 - Stock-based Compens73
Note 12 - Stock-based Compensation - Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Allocated share-based compensation expense | $ 1,278 | $ 1,646 |
Research and Development Expense [Member] | ||
Allocated share-based compensation expense | 363 | 484 |
Selling, General and Administrative Expenses [Member] | ||
Allocated share-based compensation expense | $ 915 | $ 1,162 |
Note 12 - Stock-based Compens74
Note 12 - Stock-based Compensation - Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Employee Stock Option [Member] | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Expected dividend yield | ||
Risk-free interest rate | 2.60% | 2.10% |
Expected term (in years) (Year) | 6 years 47 days | 6 years 54 days |
Expected volatility | 80.50% | 80.00% |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Tax Expense (Benefit), Total | $ (41) | |
Accounting Standards Update 2014-09 [Member] | ||
Income Tax Expense (Benefit), Total | $ 0 |
Note 13 - Income Taxes - Schedu
Note 13 - Income Taxes - Schedule of Income Tax Provisions (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Benefit from income taxes | $ 41 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Apr. 12, 2018 | Mar. 31, 2018 | Mar. 31, 2017 |
Class of Warrants or Right, Issued in Period | |||
Proceeds from Warrant Exercises | $ 133 | ||
Subsequent Event [Member] | May 2017 Warrants [Member] | |||
Class of Warrants or Right, Issued in Period | 3,616,174 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 7 | ||
Class of Warrant or Right, Term | 1 year 90 days | ||
Proceeds from Warrant Exercises | $ 15,900 |