Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 09, 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 | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 71,910,536 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 19,045 | $ 57,059 |
Restricted cash | 1,258 | 2,994 |
Accounts receivable, net of allowance of $642 as of September 30, 2018 and December 31, 2017 | 35,564 | 24,281 |
Unbilled receivable | 56 | 9,340 |
Inventories | 6,260 | 5,408 |
Prepaid expenses and other current assets | 5,541 | 5,525 |
Total current assets | 67,724 | 104,607 |
Property, plant and equipment, net | 16,622 | 13,892 |
Unbilled receivable, noncurrent | 9,767 | 7,940 |
Restricted cash, noncurrent | 959 | 959 |
Recoverable taxes from Brazilian government entities | 1,053 | 1,445 |
Other assets | 26,557 | 22,640 |
Total assets | 122,682 | 151,483 |
Current liabilities: | ||
Accounts payable | 11,380 | 15,921 |
Accrued and other current liabilities | 27,263 | 29,402 |
Deferred revenue | 6,698 | 4,880 |
Debt, current portion | 61,904 | 36,924 |
Related party debt, current portion | 47,020 | 20,019 |
Total current liabilities | 154,265 | 107,146 |
Long-term debt, net of current portion | 43,667 | 61,893 |
Related party debt, net of current portion | 18,526 | 46,541 |
Derivative liabilities | 98,662 | 119,978 |
Other noncurrent liabilities | 8,152 | 10,632 |
Total liabilities | 323,272 | 346,190 |
Commitments and contingencies (Note 9) | ||
Stockholders’ deficit: | ||
Preferred stock - $0.0001 par value, 5,000,000 shares authorized as of September 30, 2018 and December 31, 2017, and 14,656 and 22,171 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively | ||
Common stock - $0.0001 par value, 250,000,000 shares authorized as of September 30, 2018 and December 31, 2017; 64,090,445 and 45,637,433 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively | 6 | 5 |
Additional paid-in capital | 1,202,850 | 1,048,274 |
Accumulated other comprehensive loss | (42,148) | (42,156) |
Accumulated deficit | (1,367,235) | (1,206,767) |
Total Amyris, Inc. stockholders’ deficit | (206,527) | (200,644) |
Noncontrolling interest | 937 | 937 |
Total stockholders' deficit | (205,590) | (199,707) |
Total liabilities, mezzanine equity and stockholders' deficit | 122,682 | 151,483 |
Contingently Redeemable Common Stock [Member] | ||
Current liabilities: | ||
Mezzanine Equity | $ 5,000 | $ 5,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 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) | 14,656 | 22,171 |
Preferred stock, shares outstanding (in shares) | 14,656 | 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) | 64,090,445 | 45,637,433 |
Common stock, shares outstanding (in shares) | 64,090,445 | 45,637,433 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue: | ||||
Revenues | $ 14,866,000 | $ 24,197,000 | $ 61,058,000 | $ 62,857,000 |
Cost and operating expenses: | ||||
Cost of products sold | 8,574,000 | 17,637,000 | 19,873,000 | 47,684,000 |
Research and development | 16,445,000 | 15,185,000 | 50,545,000 | 44,141,000 |
Sales, general and administrative | 21,026,000 | 15,454,000 | 59,972,000 | 44,253,000 |
Total cost and operating expenses | 46,045,000 | 48,276,000 | 130,390,000 | 136,078,000 |
Loss from operations | (31,179,000) | (24,079,000) | (69,332,000) | (73,221,000) |
Other income (expense): | ||||
Interest expense | (8,658,000) | (7,733,000) | (25,687,000) | (29,219,000) |
Gain (loss) from change in fair value of derivative instruments | (25,048,000) | (18,728,000) | (64,596,000) | 9,933,000 |
Gain (loss) upon extinguishment of derivative liability | (1,782,000) | 16,036,000 | 75,000 | 25,489,000 |
Gain (loss) upon extinguishment of debt | 461,000 | (26,000) | (3,067,000) | |
Other income (expense), net | (1,654,000) | (136,000) | 1,282,000 | (576,000) |
Total other income (expense), net | (37,142,000) | (10,100,000) | (88,952,000) | 2,560,000 |
Loss before income taxes | (68,321,000) | (34,179,000) | (158,284,000) | (70,661,000) |
(Provision for) benefit from income taxes | 318,000 | 49,000 | ||
Net loss attributable to Amyris, Inc. | (68,321,000) | (33,861,000) | (158,284,000) | (70,612,000) |
Less deemed dividend on capital distribution to related parties | (8,648,000) | |||
Less deemed dividend related to beneficial conversion feature on Series A preferred stock | (562,000) | |||
Less deemed dividend related to beneficial conversion feature on Series B preferred stock | (634,000) | (634,000) | ||
Less deemed dividend related to beneficial conversion feature on Series D preferred stock | (5,757,000) | (5,757,000) | ||
Less cumulative dividends on Series A and B preferred stock | (279,000) | (2,567,000) | (1,073,000) | (4,242,000) |
Net loss attributable to Amyris, Inc. common stockholders | $ (68,600,000) | $ (42,819,000) | $ (159,357,000) | $ (90,455,000) |
Loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (1.13) | $ (1.14) | $ (2.86) | $ (3.32) |
Weighted-average shares of common stock outstanding used in computing loss per share of common stock, basic and diluted (in dollars per share) | $ 60,966,071 | $ 37,529,694 | $ 55,735,571 | $ 27,280,894 |
Product [Member] | ||||
Revenue: | ||||
Revenues | $ 9,639,000 | $ 10,996,000 | $ 21,467,000 | $ 28,925,000 |
Licenses and Royalties [Member] | ||||
Revenue: | ||||
Revenues | 142,000 | 1,022,000 | 18,466,000 | 6,774,000 |
Grants and Collaborations [Member] | ||||
Revenue: | ||||
Revenues | $ 5,085,000 | $ 12,179,000 | $ 21,125,000 | $ 27,158,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues, related party | $ 2,563 | $ 2,124 | $ 25,951 | $ 2,998 |
Product [Member] | ||||
Revenues, related party | 854 | 787 | 2,092 | 1,512 |
Licenses and Royalties [Member] | ||||
Revenues, related party | (39) | 703 | 18,248 | 703 |
Grants and Collaborations [Member] | ||||
Revenues, related party | $ 1,197 | $ 634 | $ 4,324 | $ 782 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Comprehensive loss: | ||||
Net loss attributable to Amyris, Inc. | $ (68,321) | $ (33,861) | $ (158,284) | $ (70,612) |
Foreign currency translation adjustment, net of tax | 670 | 1,402 | 8 | 303 |
Total comprehensive loss attributable to Amyris, Inc. | $ (67,651) | $ (32,459) | $ (158,276) | $ (70,309) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities | ||
Net loss | $ (158,284,000) | $ (70,612,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Loss (gain) from change in fair value of derivative instruments | 64,596,000 | (9,565,000) |
Amortization of debt discount | 10,568,000 | 10,108,000 |
Stock-based compensation | 6,115,000 | 3,942,000 |
Depreciation and amortization | 3,957,000 | 8,124,000 |
Loss on disposal and impairment of property, plant and equipment | 943,000 | 37,000 |
Loss (gain) on foreign currency exchange rates | 34,000 | (205,000) |
Loss upon extinguishment of debt | 26,000 | 3,067,000 |
Receipt of equity in connection with collaboration arrangements revenue | (2,660,000) | |
Gain upon extinguishment of derivative liability | (75,000) | (25,489,000) |
Gain on change in fair value of equity investment | (3,460,000) | |
Changes in assets and liabilities: | ||
Accounts receivable | (10,756,000) | (10,947,000) |
Unbilled receivables | 7,457,000 | |
Inventories | (890,000) | (126,000) |
Prepaid expenses and other assets | (1,781,000) | (12,962,000) |
Accounts payable | (5,201,000) | 3,119,000 |
Accrued and other liabilities | (2,216,000) | 404,000 |
Deferred revenue | 1,014,000 | 1,113,000 |
Net cash used in operating activities | (87,953,000) | (102,652,000) |
Cash flows from investing activities | ||
Sales of short-term investments, net | 2,999,000 | |
Purchases of property, plant and equipment | (6,362,000) | (487,000) |
Net cash (used in) provided by investing activities | (6,362,000) | 2,512,000 |
Cash flows from financing activities | ||
Proceeds from exercises of warrants, net | 60,544,000 | |
Proceeds from issuance of debt, net of issuance costs | 35,149,000 | 13,965,000 |
Proceeds from issuance of common stock in private placement | 1,416,000 | |
Proceeds from exercises of ESPP purchases | 270,000 | |
Proceeds from exercises of common stock options | 301,000 | 147,000 |
Proceeds from issuance of convertible preferred stock | 101,427,000 | |
Payment of minimum employee taxes withheld upon net share settlement of restricted stock units | (196,000) | (87,000) |
Principal payments on capital leases | (848,000) | |
Principal payments on debt | (41,970,000) | (26,708,000) |
Net cash provided by financing activities | 54,666,000 | 88,744,000 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (101,000) | (136,000) |
Net decrease in cash, cash equivalents and restricted cash | (39,750,000) | (11,532,000) |
Cash, cash equivalents and restricted cash at beginning of period | 61,012,000 | 32,433,000 |
Cash, cash equivalents and restricted cash at end of the period | 21,262,000 | 20,901,000 |
Cash and cash equivalents | 19,045,000 | 15,865,000 |
Restricted cash, current | 1,258,000 | 4,078,000 |
Restricted cash, noncurrent | 959,000 | 958,000 |
Cash paid for interest | 14,783,000 | 6,805,000 |
Derecognition of derivative liabilities upon exercise of warrants | 57,637,000 | |
Accrued interest added to debt principal | 2,029,000 | 1,745,000 |
Acquisition of property, plant and equipment under accounts payable, accrued liabilities and notes payable | 783,000 | 1,045,000 |
Financing of equipment | 764,000 | 953,000 |
Issuance of convertible preferred stock upon conversion of debt | 40,204,000 | |
Issuance of common stock upon conversion of debt | 28,702,000 | |
Issuance of common stock for settlement of debt principal and interest payments | 14,144,000 | |
Financing of insurance premium under notes payable | $ 191,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 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 Flavor & Fragrance 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 eight 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 the 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 September 30, 2018, $105.6 $59.6 December 31, 2017 $1.4 As of September 30, 2018, $21.5 $171.1 $108.9 $23.3 October November 2018, $23.3 13, November 30, 2019 $111.4 (excluding $25.0 $15.7 three September 30, 2018, not one 4, no not Cash and cash equivalents of $19.0 September 30, 2018 not one one not 12 12 may may not Significant Accounting Policies Note 1, 10 606 606” Revenue from Contracts with Customers 2016 01, Financial Instruments-Overall (Subtopic 825 10 no three nine September 30, 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 generally does not 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 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 nine September 30, 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 may 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 September 30, 2018 Nine Months Ended September 30, 2018 (In thousands) As Adjustments Amounts Without As Adjustments Amounts Without Renewable products $ 9,639 $ — $ 9,639 $ 21,467 $ — $ 21,467 Licenses and royalties 142 1,656 1,798 18,466 (14,091 ) 4,375 Grants and collaborations 5,085 (1,555 ) 3,530 21,125 (3,820 ) 17,305 Total revenue from all customers $ 14,866 $ 101 $ 14,967 $ 61,058 $ (17,911 ) $ 43,147 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 January 1, 2018 not 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 Staff Accounting Bulletin No 118 2017 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 September 30, 2018, not may one 118. September 30, 2018, not (b) Recent Accounting Standards Pronouncements or Updates Not Leases February 2016, 2016 02, Leases (Topic 842 first 2019 may 840, Leases 842, Leases may Financial Instruments with "Down Round" Features July 2017, 2017 11, Earnings Per Share (Topic 260 480 815 no first 2019 Non-employee Stock-based Compensation June 2018, 2018 07, Improvements to Nonemployee Share-Based Payment Accounting, no first 2019 not Fair Value Measurement August 2018, 2018 13, Fair Value Measurement (Topic 820 820, Fair Value Measurement 2018 13 first 2020, 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, as follows: • 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 • The condensed consolidated statements of operations and condensed consolidated statements of cash flows previously presented gains or losses upon extinguishment of derivative liabilities in combination with gains or losses from change in fair value of derivative instruments. In 2018, no • In the statements of cash flows, the prior period has been restated to reflect accounting standards changes for reporting restricted cash. |
Note 2 - Balance Sheet Details
Note 2 - Balance Sheet Details | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 2. Inventories Inventories are stated at the lower of cost or net realizable value and are comprised of the following: (In thousands) September 30, December 31, Raw materials $ 1,129 $ 819 Work-in-process 929 364 Finished goods 4,202 4,225 Inventories $ 6,260 $ 5,408 Property, Plant and Equipment, Net Property, plant and equipment, net is comprised of the following: (In thousands) September 30, December 31, Machinery and equipment $ 46,725 $ 49,277 Leasehold improvements 40,703 40,036 Computers and software 10,666 9,555 Furniture and office equipment, vehicles and land 3,705 3,415 Construction in progress 19,343 17,438 121,142 119,721 Less: accumulated depreciation and amortization (104,520 ) (105,829 ) Property, plant and equipment, net $ 16,622 $ 13,892 Property, plant and equipment, net includes $4.9 $4.2 September 30, 2018 December 31, 2017, $2.1 $1.6 September 30, 2018 December 31, 2017, During the three nine September 30, 2018, $0.5 $2.1 Depreciation and amortization expense, including amortization of assets under capital leases, was $1.0 $2.7 three September 30, 2018 2017, $4.0 $8.1 nine September 30, 2018 2017, Other Assets Other assets are comprised of the following: (In thousands) September 30, December 31, Contingent consideration $ 7,805 $ 8,151 Prepaid royalty 6,847 7,409 Equity investment in SweeGen 5,313 3,233 Deposits 4,171 2,462 Goodwill 560 560 Other 1,861 825 Other assets $ 26,557 $ 22,640 Accrued and Other Current Liabilities Accrued and other current liabilities are comprised of the following: (In thousands) September 30, December 31, Payroll and related expenses $ 9,774 $ 7,238 Accrued interest 6,010 8,213 SMA relocation accrual 2,964 3,587 Tax-related liabilities 2,154 5,837 Professional services 1,402 1,894 Contract termination 1,000 — Other 3,959 2,633 Total accrued and other current liabilities $ 27,263 $ 29,402 |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurement | 9 Months Ended |
Sep. 30, 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 assets and liabilities measured at fair value, and the respective fair value by input classification level within the fair value hierarchy: (In thousands) September 30, 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 — — — — 7,813 — — 7,813 Equity investment in SweeGen — 5,313 — 5,313 — — — — Total assets measured and recorded at fair value $ — $ 5,313 $ — $ 5,313 $ 61,012 $ — $ — $ 61,012 Liabilities Embedded derivatives in connection with the issuance of debt and equity instruments $ — $ — $ 9,379 $ 9,379 $ — $ — $ 4,203 $ 4,203 Freestanding derivative instruments in connection with the issuance of equity instruments — — 89,283 89,283 — — 115,775 115,775 Total liabilities measured and recorded at fair value $ — $ — $ 98,662 $ 98,662 $ — $ — $ 119,978 $ 119,978 There were no Equity Investment in SweeGen The Company holds 850,115 December 2016 September 30, 2018, $5.3 2 three nine September 30, 2018, $1.7 $3.5 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) Equity-related Debt-related Total Derivative Balance at December 31, 2017 $ 112,368 $ 7,610 $ 119,978 Change in fair value of derivative liabilities 49,442 15,154 64,596 Derecognition upon extinguishment of derivative liabilities (85,912 ) — (85,912 ) Balance at September 30, 2018 $ 75,898 $ 22,764 $ 98,662 The derivative liabilities recognized in connection with the issuance of equity and debt 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 August 2013 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: September 30, 2018 December 31, 2017 Risk-free interest rate 2.12% - 3.01% 1.68% - 2.40% Risk-adjusted yields 13.90% - 24.03% 18.40% - 28.53% Stock price volatility 45% - 80% 45% - 80% Probability of change in control 0% - 5% 5% Stock price $7.94 $3.75 Credit spread 11.69% - 21.65% 16.63% - 26.70% Estimated conversion dates 2018 - 2025 2018 - 2025 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 See Note 6, 1 10 April 2018 Changes in Fair Value Changes in the fair value of derivative 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) September 30, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Total debt $ 166,218 $ 171,117 $ 156,900 $ 165,377 |
Note 4 - Debt
Note 4 - Debt | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4. Net carrying amounts of debt are as follows: September 30, 2018 December 31, 2017 (In thousands) Principal Unamortized Net Balance Principal Unamortized Net Balance Nonrelated Party Convertible notes 2015 Rule 144A convertible notes $ 37,887 $ (3,268 ) $ 34,619 $ 37,887 $ (6,872 ) $ 31,015 2014 Rule 144A convertible notes 24,004 (1,445 ) 22,559 24,004 (3,170 ) 20,834 December 2017 convertible note — — — 5,000 (25 ) 4,975 August 2013 financing convertible notes 4,416 (1,709 ) 2,707 4,009 (2,918 ) 1,091 66,307 (6,422 ) 59,885 70,900 (12,985 ) 57,915 Loans payable and credit facilities GACP term loan facility 36,000 (1,489 ) 34,511 — — — Senior secured loan facility — — — 28,566 (253 ) 28,313 Ginkgo notes 12,000 (4,390 ) 7,610 12,000 (4,983 ) 7,017 Other loans payable 4,643 (1,203 ) 3,440 6,463 (1,277 ) 5,186 Other credit facilities 126 — 126 381 — 381 52,769 (7,082 ) 45,687 47,410 (6,513 ) 40,897 Subtotal nonrelated party 119,076 (13,504 ) 105,572 118,310 (19,498 ) 98,812 Related Party Related party convertible notes August 2013 financing convertible notes 23,334 205 23,539 21,711 897 22,608 2014 Rule 144A convertible notes 24,705 (1,731 ) 22,974 24,705 (3,784 ) 20,921 R&D note — — — 3,700 (18 ) 3,682 48,039 (1,526 ) 46,513 50,116 (2,905 ) 47,211 Related party loans payable DSM note 25,000 (6,474 ) 18,526 25,000 (8,039 ) 16,961 Other DSM loan 506 — 506 393 — 393 February 2016 private placement — — — 2,000 — 2,000 25,506 (6,474 ) 19,032 27,393 (8,039 ) 19,354 Subtotal related party 73,545 (8,000 ) 65,545 77,509 (10,944 ) 66,565 Total debt 192,621 (21,504 ) 171,117 195,819 (30,442 ) 165,377 Less: current portion (108,924 ) (56,943 ) Long-term debt, net of current portion $ 62,193 $ 108,434 During the nine September 30, 2018, • Senior Secured Loan Facility Repayment: June 29, 2018, $27.3 • GACP Term Loan Facility: June 29, 2018, $36.0 $35.0 4, 8 10 July 2, 2018 4, 8 10 Loans under the GACP Term Loan Facilities have a maturity date of July 1, 2021; not January 7, 2019 2015 144A 2014 144A July 1, 2021 January 12, 2019, January 12, 2019. July 1, 2019 2.5% 4.0%, 6.25%, first September 30, 2018, not September 30, 2018 December 31, 2018 no not The Company paid origination fees at closing equal to 4%, $1.4 $0.2 $25,000 $1.6 3 • August 2013 August 2018, August 2017 6, August 2013 $5.2977 $4.40 Future Minimum Payments Future minimum payments under the Company's debt agreements as of September 30, 2018 Years ending December 31 (In thousands) Convertible Notes Loans Payable and Credit Facilities Related Party Convertible Notes Related Party Loans Payable and Credit Facilities Total 2018 (remaining three months) $ 2,580 $ 1,508 $ 803 $ 1,132 $ 6,023 2019 69,333 9,068 25,508 2,500 106,409 2020 — 8,915 — 2,500 11,415 2021 — 34,178 — 27,521 61,699 2022 — 13,416 — — 13,416 Thereafter — 2,565 — — 2,565 Total future minimum payments 71,913 69,650 26,311 33,653 201,527 Less: amount representing interest (5,159 ) (16,881 ) (1,606 ) (8,146 ) (31,792 ) Add: amount mandatorily convertible into common stock upon maturity — — 24,970 — 24,970 Less: future conversion of accrued interest to principal (447 ) — (1,636 ) — (2,083 ) Present value of minimum debt payments 66,307 52,769 48,039 25,507 192,622 Less: current portion of debt principal (66,307 ) (2,739 ) (48,039 ) (507 ) (117,592 ) Noncurrent portion of debt principal $ — $ 50,030 $ — $ 25,000 $ 75,030 |
Note 5 - Mezzanine Equity
Note 5 - Mezzanine Equity | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Mezzanine Equity Disclosure [Text Block] | 5. Mezzanine equity is comprised of the following: (In thousands) September 30, 2018 December 31, 2017 Contingently redeemable common stock $ 5,000 $ 5,000 Mezzanine equity at September 30, 2018 December 31, 2017 May 10, 2016 not third $17.10 10%. |
Note 6 - Stockholders' Deficit
Note 6 - Stockholders' Deficit | 9 Months Ended |
Sep. 30, 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 nine September 30, 2018: Transaction Number Additional Exercises Number Outstanding as July 2015 private placement 81,197 — — 81,197 July 2015 related party debt exchange 2,082,010 471,204 — 2,553,214 February 2016 related party private placement 171,429 — — 171,429 May 2017 cash and dilution warrants 18,042,568 — (10,784,933 ) 7,257,635 August 2017 cash and dilution warrants 9,543,234 — (5,575,118 ) 3,968,116 April 2018 warrant exercise agreements — 3,616,174 — 3,616,174 August 2018 warrant exercise agreements — 12,097,164 — 12,097,164 Other 1,406 — — 1,406 29,921,844 16,184,542 (16,360,051 ) 29,746,335 For the nine September 30, 2018, $60.5 16,360,051 Warrant Exercises and New Warrant Issuances April 2018 On April 12, 2018, May 2017 6, 8 10 May 2017 3,616,174 $14.5 May 2017 May 2017 May 2017 May 2017 May 2017 May 2017 3,616,174 $7.00 July 12, 2019. not May 2017 May 2017 $9.4 90%, 2.16%, 1.25 $0, $7.00, $6.80. $1.9 three June 30, 2018. $11.3 $9.4 $21.9 May 2017 August 2018 In August 2018, May 2017 August 2017 6, 8 10 12.6 $46.0 May 2017 August 2017 12.1 $7.52 six 15 May 2020. not May 2017 August 2017 May 2017 August 2017 $30.1 80%, 2.57%–2.58%, 1.75 $7.52, $6.56–$6.79. three September 30, 2018, $3.6 $26.5 $30.1 $63.3 May 2017 August 2017 Temasek Funding Warrant In August 2018, August 2013 $5.2977 $4.40 4, 6, 8 10 471,204 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 nine September 30, 2018, 0 205,168 $6.90 $1.4 April 15, 2018, zero September 30, 2018. |
Note 7 - Variable-interest Enti
Note 7 - Variable-interest Entities and Unconsolidated Investments | 9 Months Ended |
Sep. 30, 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 joint venture (JV) (see Note 7, 8 10 September 30, 2018: (In thousands) September 30, 2018 December 31, 2017 Assets $ 38,422 $ 36,781 Liabilities $ 1,960 $ 3,187 The Aprinnova JV's creditors have recourse only to the assets of the Aprinnova JV. During the three nine September 30, 2018 2017, no Unconsolidated Investments The Company's unconsolidated investments are summarized as follows: Carrying Value of Investment on (Amounts in thousands) Amyris Equity September 30, 2018 December 31, 2017 Equity-method investments: Novvi LLC 20 % $ — $ — Total Amyris BioSolutions B.V. 25 % $ — $ — Other unconsolidated equity investment: SweeGen, Inc. 3 % $ 5,313 $ 3,233 |
Note 8 - Net Loss Per Share Att
Note 8 - Net Loss Per Share Attributable to Common Stockholders | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 8. For the three nine September 30, 2018 September 30, 2017, The following table presents the calculation of basic and diluted loss per share attributable to common stockholders: Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except shares and per share amounts) 2018 2017 2018 2017 Numerator: Net loss attributable to Amyris, Inc. $ (68,321 ) $ (33,861 ) $ (158,284 ) $ (70,612 ) Less deemed dividend on capital distribution to related parties — — — (8,648 ) Less deemed dividend related to beneficial conversion feature on Series A preferred stock — — — (562 ) Less deemed dividend related to beneficial conversion feature on Series B preferred stock — (634 ) — (634 ) Less deemed dividend related to beneficial conversion feature on Series D preferred stock — (5,757 ) — (5,757 ) Less cumulative dividends on Series A and B preferred stock (279 ) (2,567 ) (1,073 ) (4,242 ) Net loss attributable to Amyris, Inc. common stockholders, basic and diluted $ (68,600 ) $ (42,819 ) $ (159,357 ) $ (90,455 ) Denominator: Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted 60,966,071 37,529,694 55,735,571 27,280,894 Basic and diluted loss per share $ (1.13 ) $ (1.14 ) $ (2.86 ) $ (3.32 ) Diluted loss per share for the nine September 30, 2017 September 30, 2017 10 $125.9 $4.61. not nine September 30, 2017 The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted loss per share of common stock because including them would have been antidilutive: Three Months Ended Nine Months Ended 2018 2017 2018 2017 Period-end stock options to purchase common stock 5,449,701 949,023 5,449,701 949,023 Convertible promissory notes (1) 9,397,134 8,133,594 9,397,134 8,133,594 Period-end common stock warrants 25,986,432 31,303,080 25,986,432 31,303,080 Period-end restricted stock units 5,324,092 599,425 5,324,092 599,425 Period-end preferred stock 2,955,732 — 2,955,732 — Total potentially dilutive securities excluded from computation of diluted loss per share 49,113,091 40,985,122 49,113,091 40,985,122 ______________ ( 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 | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 9. Commitments Future minimum payments under the Company's lease obligations as of September 30, 2018 Years ending December 31: (In thousands) Capital Operating Total Lease 2018 (remaining three months) $ 143 $ 2,776 $ 2,919 2019 513 9,966 10,479 2020 199 7,675 7,874 2021 3 7,237 7,240 2022 — 7,410 7,410 Thereafter — 3,270 3,270 Total future minimum payments $ 858 $ 38,334 $ 39,192 Less: amount representing interest (46 ) Present value of minimum lease payments 812 Less: current portion (503 ) Long-term portion $ 309 Guarantor Arrangements In November 2010, 4, 8 10 September 30, 2018 December 31, 2017 was R$6.0 US$1.5 US$1.8 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 July 23, 2018, two August 30, 2018, September 4, 2018, 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 - Revenue Recognition a
Note 10 - Revenue Recognition and Contract Assets and Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 10. Disaggregation of Revenue The following table presents revenue by major product and service, as well as by primary geographical market, based on the location of the customer: Three Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total United States $ 4,884 $ — $ 626 $ 5,510 $ 5,873 $ — $ 6,141 $ 12,014 Europe 1,175 142 3,908 5,225 2,314 1,022 3,935 7,271 Asia 3,544 — — 3,544 2,773 — 125 2,898 South America 36 — 551 587 36 — 1,978 2,014 Other — — — — — — — — $ 9,639 $ 142 $ 5,085 $ 14,866 $ 10,996 $ 1,022 $ 12,179 $ 24,197 Nine Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total United States $ 9,185 $ — $ 6,457 $ 15,642 $ 8,871 $ 2,673 $ 15,510 $ 27,054 Europe 6,596 18,466 11,723 36,785 5,621 1,468 9,295 16,384 Asia 5,335 — 1,000 6,335 14,242 2,633 375 17,250 South America 251 — 1,945 2,196 180 — 1,978 2,158 Other 100 — — 100 11 — — 11 $ 21,467 $ 18,466 $ 21,125 $ 61,058 $ 28,925 $ 6,774 $ 27,158 $ 62,857 Significant Revenue Agreements In connection with significant revenue agreements (see Note 10, 8 10 , the Company recognized the following revenues for the three nine September 30, 2018 2017 : Three Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total DSM - related party $ 17 $ (39 ) $ 1,748 $ 1,726 $ — $ 703 $ 634 $ 1,337 Givaudan 525 — 1,500 2,025 1,331 — 1,500 2,831 Firmenich 904 181 1,212 2,297 4,525 319 1,351 6,195 Nenter — — — — 1,678 — — 1,678 DARPA — — 241 241 — — 1,252 1,252 Subtotal revenue from significant revenue agreements 1,446 142 4,701 6,289 7,534 1,022 4,737 13,293 Revenue from all other customers 8,193 — 384 8,577 3,462 — 7,442 10,904 Total revenue from all customers $ 9,639 $ 142 $ 5,085 $ 14,866 $ 10,996 $ 1,022 $ 12,179 $ 24,197 Nine Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total DSM - related party $ 17 $ 18,248 $ 5,611 $ 23,876 $ 10 $ 703 $ 783 $ 1,496 Givaudan 3,710 — 4,358 8,068 1,950 — 4,500 6,450 Firmenich 1,110 218 3,698 5,026 6,178 765 4,562 11,505 Nenter — — 1,000 1,000 8,003 2,633 — 10,636 DARPA — — 5,278 5,278 — — 6,894 6,894 Subtotal revenue from significant revenue agreements 4,837 18,466 19,945 43,248 16,141 4,101 16,739 36,981 Revenue from all other customers 16,630 — 1,180 17,810 12,784 2,673 10,419 25,876 Total revenue from all customers $ 21,467 $ 18,466 $ 21,125 $ 61,058 $ 28,925 $ 6,774 $ 27,158 $ 62,857 Contract Assets and Liabilities 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) September 30, December 31, Unbilled receivable, current $ 56 $ 9,340 Unbilled receivable, noncurrent $ 9,767 $ 7,940 Deferred revenue, current $ 6,698 $ 4,880 Deferred revenue, noncurrent $ 383 (1) $ 383 (1) Accounts receivable, net $ 35,564 $ 24,281 ______________ ( 1 September 30, 2018 December 31, 2017, Unbilled receivables relate to the Company’s right to consideration from DSM for (i) minimum future royalties and (ii) performance fees. The Company’s right to cash receipt for these minimum royalty amounts occurs on or before December 31, 2019. December 31, 2017 September 30, 2018, $7.5 Deferred revenue, current increased by $1.8 September 30, 2018 $0.8 606 January 1, 2018 $3.3 nine September 30, 2018 Remaining Performance Obligations The following table provides information regarding 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 September 30, 2018. (In thousands) As of September 30, 2018 Remaining 2018 $ 3,592 2019 9,742 2020 7,742 2021 and thereafter 672 Total from all customers $ 21,748 In accordance with the disclosure provisions of ASC 606, one $17.4 |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 11. Related Party Debt See Note 4. 1 10 September 30, 2018 December 31, 2017. Related Party Accounts Receivable and Unbilled Receivables Related party accounts receivable and unbilled receivables as of September 30, 2018 December 31, 2017 (In thousands) September 30, 2018 December 31, 2017 Accounts receivable, net: DSM $ 20,419 $ 3,483 Novvi 24 1,607 Total 120 238 $ 20,563 $ 5,328 Unbilled receivable, current: DSM $ 56 $ 9,340 Unbilled receivable, noncurrent: DSM $ 9,767 $ 7,940 Related Party Joint Ventures See Note 7, in Part I, Item 1 10 8 10 • Aprinnova joint venture with Nikko, and • TAB joint venture with Total |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 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 nine September 30, 2018 Quantity of Weighted- Weighted- Aggregate Outstanding - December 31, 2017 1,338,367 $ 33.40 7.7 $ 97 Granted 4,296,337 $ 5.18 Exercised (61,750 ) $ 3.68 Forfeited or expired (123,253 ) $ 28.18 Outstanding - September 30, 2018 5,449,701 $ 11.60 9.0 $ 13,721 Vested or expected to vest after September 30, 2018 5,031,524 $ 12.14 8.9 $ 12,552 Exercisable at September 30, 2018 942,636 $ 41.25 6.7 $ 1,536 The Company’s restricted stock units (RSUs) activity and related information for the nine September 30, 2018 Quantity of Weighted- Weighted- Outstanding - December 31, 2017 683,554 $ 8.62 1.4 Awarded 4,993,022 $ 5.38 RSUs released (226,129 ) $ 10.38 RSUs forfeited (126,355 ) $ 6.16 Outstanding - September 30, 2018 5,324,092 $ 5.57 1.8 Vested or expected to vest after September 30, 2018 5,065,108 $ 5.57 1.8 Stock-based compensation expense related to options and RSUs granted to employees and non-employees during the three nine September 30, 2018 2017 Three Months Ended Nine Months Ended (In thousands) 2018 2017 2018 2017 Research and development $ 495 $ 395 $ 1,191 $ 1,320 Sales, general and administrative 2,442 863 4,924 2,622 Total stock-based compensation expense $ 2,937 $ 1,258 $ 6,115 $ 3,942 As of September 30, 2018, $35.0 3.5 The fair value of employee stock options was estimated using the following weighted-average assumptions: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Expected dividend yield — % — % — % — % Risk-free interest rate 2.8 % 2.0 % 2.7 % 2.0 % Expected term (in years) 6.87 6.20 6.85 6.10 Expected volatility 79.1 % 92.2 % 79.6 % 81.6 % In May 2018, 2010 9 4 Also in May 2018, 2010 may 1 In May 2018, 3,250,000 may December 31, 2021, December 31, 2022. four may zero 3,250,000 $5.08 Stock-based compensation expense for this award is recognized using a graded-vesting approach over the service period beginning at the grant date through December 31, 2022, September 30, 2018, $5.1 three nine September 30, 2018, $0.3 $0.4 Stock Option Award with Performance and Market Vesting Conditions: Fair value of the Company’s common stock on grant date $ 5.08 Expected volatility 70 % Risk-free interest rate 2.75 % Dividend yield 0.0 % |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. Conversion of August 2013 On October 16, 2018, August 2013 4, 8 10 3,448,821 Exercise of Temasek Funding Warrant On October 19, 2018, 6, 8 10 1,889,986 1,852,585 Conversion of August 2013 On November 8, 2018, August 2013 January 15, 2019, 4, 8 10 2,226,105 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 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 September 30, 2018, $105.6 $59.6 December 31, 2017 $1.4 As of September 30, 2018, $21.5 $171.1 $108.9 $23.3 October November 2018, $23.3 13, November 30, 2019 $111.4 (excluding $25.0 $15.7 three September 30, 2018, not one 4, no not Cash and cash equivalents of $19.0 September 30, 2018 not one one not 12 12 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 generally does not 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 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 nine September 30, 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 may 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 September 30, 2018 Nine Months Ended September 30, 2018 (In thousands) As Adjustments Amounts Without As Adjustments Amounts Without Renewable products $ 9,639 $ — $ 9,639 $ 21,467 $ — $ 21,467 Licenses and royalties 142 1,656 1,798 18,466 (14,091 ) 4,375 Grants and collaborations 5,085 (1,555 ) 3,530 21,125 (3,820 ) 17,305 Total revenue from all customers $ 14,866 $ 101 $ 14,967 $ 61,058 $ (17,911 ) $ 43,147 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 January 1, 2018 not 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 Staff Accounting Bulletin No 118 2017 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 September 30, 2018, not may one 118. September 30, 2018, not (b) Recent Accounting Standards Pronouncements or Updates Not Leases February 2016, 2016 02, Leases (Topic 842 first 2019 may 840, Leases 842, Leases may Financial Instruments with "Down Round" Features July 2017, 2017 11, Earnings Per Share (Topic 260 480 815 no first 2019 Non-employee Stock-based Compensation June 2018, 2018 07, Improvements to Nonemployee Share-Based Payment Accounting, no first 2019 not Fair Value Measurement August 2018, 2018 13, Fair Value Measurement (Topic 820 820, Fair Value Measurement 2018 13 first 2020, |
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, as follows: • 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 • The condensed consolidated statements of operations and condensed consolidated statements of cash flows previously presented gains or losses upon extinguishment of derivative liabilities in combination with gains or losses from change in fair value of derivative instruments. In 2018, no • In the statements of cash flows, the prior period has been restated to reflect accounting standards changes for reporting restricted cash. |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (In thousands) As Adjustments Amounts Without As Adjustments Amounts Without Renewable products $ 9,639 $ — $ 9,639 $ 21,467 $ — $ 21,467 Licenses and royalties 142 1,656 1,798 18,466 (14,091 ) 4,375 Grants and collaborations 5,085 (1,555 ) 3,530 21,125 (3,820 ) 17,305 Total revenue from all customers $ 14,866 $ 101 $ 14,967 $ 61,058 $ (17,911 ) $ 43,147 |
Note 2 - Balance Sheet Details
Note 2 - Balance Sheet Details (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | (In thousands) September 30, December 31, Raw materials $ 1,129 $ 819 Work-in-process 929 364 Finished goods 4,202 4,225 Inventories $ 6,260 $ 5,408 |
Property, Plant and Equipment [Table Text Block] | (In thousands) September 30, December 31, Machinery and equipment $ 46,725 $ 49,277 Leasehold improvements 40,703 40,036 Computers and software 10,666 9,555 Furniture and office equipment, vehicles and land 3,705 3,415 Construction in progress 19,343 17,438 121,142 119,721 Less: accumulated depreciation and amortization (104,520 ) (105,829 ) Property, plant and equipment, net $ 16,622 $ 13,892 |
Schedule of Other Assets, Noncurrent [Table Text Block] | (In thousands) September 30, December 31, Contingent consideration $ 7,805 $ 8,151 Prepaid royalty 6,847 7,409 Equity investment in SweeGen 5,313 3,233 Deposits 4,171 2,462 Goodwill 560 560 Other 1,861 825 Other assets $ 26,557 $ 22,640 |
Schedule of Accrued and Other Current Liabilities [Table Text Block] | (In thousands) September 30, December 31, Payroll and related expenses $ 9,774 $ 7,238 Accrued interest 6,010 8,213 SMA relocation accrual 2,964 3,587 Tax-related liabilities 2,154 5,837 Professional services 1,402 1,894 Contract termination 1,000 — Other 3,959 2,633 Total accrued and other current liabilities $ 27,263 $ 29,402 |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (In thousands) September 30, 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 — — — — 7,813 — — 7,813 Equity investment in SweeGen — 5,313 — 5,313 — — — — Total assets measured and recorded at fair value $ — $ 5,313 $ — $ 5,313 $ 61,012 $ — $ — $ 61,012 Liabilities Embedded derivatives in connection with the issuance of debt and equity instruments $ — $ — $ 9,379 $ 9,379 $ — $ — $ 4,203 $ 4,203 Freestanding derivative instruments in connection with the issuance of equity instruments — — 89,283 89,283 — — 115,775 115,775 Total liabilities measured and recorded at fair value $ — $ — $ 98,662 $ 98,662 $ — $ — $ 119,978 $ 119,978 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (In thousands) Equity-related Debt-related Total Derivative Balance at December 31, 2017 $ 112,368 $ 7,610 $ 119,978 Change in fair value of derivative liabilities 49,442 15,154 64,596 Derecognition upon extinguishment of derivative liabilities (85,912 ) — (85,912 ) Balance at September 30, 2018 $ 75,898 $ 22,764 $ 98,662 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | September 30, 2018 December 31, 2017 Risk-free interest rate 2.12% - 3.01% 1.68% - 2.40% Risk-adjusted yields 13.90% - 24.03% 18.40% - 28.53% Stock price volatility 45% - 80% 45% - 80% Probability of change in control 0% - 5% 5% Stock price $7.94 $3.75 Credit spread 11.69% - 21.65% 16.63% - 26.70% Estimated conversion dates 2018 - 2025 2018 - 2025 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) September 30, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Total debt $ 166,218 $ 171,117 $ 156,900 $ 165,377 |
Note 4 - Debt (Tables)
Note 4 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, 2018 December 31, 2017 (In thousands) Principal Unamortized Net Balance Principal Unamortized Net Balance Nonrelated Party Convertible notes 2015 Rule 144A convertible notes $ 37,887 $ (3,268 ) $ 34,619 $ 37,887 $ (6,872 ) $ 31,015 2014 Rule 144A convertible notes 24,004 (1,445 ) 22,559 24,004 (3,170 ) 20,834 December 2017 convertible note — — — 5,000 (25 ) 4,975 August 2013 financing convertible notes 4,416 (1,709 ) 2,707 4,009 (2,918 ) 1,091 66,307 (6,422 ) 59,885 70,900 (12,985 ) 57,915 Loans payable and credit facilities GACP term loan facility 36,000 (1,489 ) 34,511 — — — Senior secured loan facility — — — 28,566 (253 ) 28,313 Ginkgo notes 12,000 (4,390 ) 7,610 12,000 (4,983 ) 7,017 Other loans payable 4,643 (1,203 ) 3,440 6,463 (1,277 ) 5,186 Other credit facilities 126 — 126 381 — 381 52,769 (7,082 ) 45,687 47,410 (6,513 ) 40,897 Subtotal nonrelated party 119,076 (13,504 ) 105,572 118,310 (19,498 ) 98,812 Related Party Related party convertible notes August 2013 financing convertible notes 23,334 205 23,539 21,711 897 22,608 2014 Rule 144A convertible notes 24,705 (1,731 ) 22,974 24,705 (3,784 ) 20,921 R&D note — — — 3,700 (18 ) 3,682 48,039 (1,526 ) 46,513 50,116 (2,905 ) 47,211 Related party loans payable DSM note 25,000 (6,474 ) 18,526 25,000 (8,039 ) 16,961 Other DSM loan 506 — 506 393 — 393 February 2016 private placement — — — 2,000 — 2,000 25,506 (6,474 ) 19,032 27,393 (8,039 ) 19,354 Subtotal related party 73,545 (8,000 ) 65,545 77,509 (10,944 ) 66,565 Total debt 192,621 (21,504 ) 171,117 195,819 (30,442 ) 165,377 Less: current portion (108,924 ) (56,943 ) Long-term debt, net of current portion $ 62,193 $ 108,434 |
Schedule of Long-term Debt Instruments [Table Text Block] | Years ending December 31 (In thousands) Convertible Notes Loans Payable and Credit Facilities Related Party Convertible Notes Related Party Loans Payable and Credit Facilities Total 2018 (remaining three months) $ 2,580 $ 1,508 $ 803 $ 1,132 $ 6,023 2019 69,333 9,068 25,508 2,500 106,409 2020 — 8,915 — 2,500 11,415 2021 — 34,178 — 27,521 61,699 2022 — 13,416 — — 13,416 Thereafter — 2,565 — — 2,565 Total future minimum payments 71,913 69,650 26,311 33,653 201,527 Less: amount representing interest (5,159 ) (16,881 ) (1,606 ) (8,146 ) (31,792 ) Add: amount mandatorily convertible into common stock upon maturity — — 24,970 — 24,970 Less: future conversion of accrued interest to principal (447 ) — (1,636 ) — (2,083 ) Present value of minimum debt payments 66,307 52,769 48,039 25,507 192,622 Less: current portion of debt principal (66,307 ) (2,739 ) (48,039 ) (507 ) (117,592 ) Noncurrent portion of debt principal $ — $ 50,030 $ — $ 25,000 $ 75,030 |
Note 5 - Mezzanine Equity (Tabl
Note 5 - Mezzanine Equity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Mezzanine Equity Table [Table Text Block] | (In thousands) September 30, 2018 December 31, 2017 Contingently redeemable common stock $ 5,000 $ 5,000 |
Note 6 - Stockholders' Deficit
Note 6 - Stockholders' Deficit (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Transaction Number Additional Exercises Number Outstanding as July 2015 private placement 81,197 — — 81,197 July 2015 related party debt exchange 2,082,010 471,204 — 2,553,214 February 2016 related party private placement 171,429 — — 171,429 May 2017 cash and dilution warrants 18,042,568 — (10,784,933 ) 7,257,635 August 2017 cash and dilution warrants 9,543,234 — (5,575,118 ) 3,968,116 April 2018 warrant exercise agreements — 3,616,174 — 3,616,174 August 2018 warrant exercise agreements — 12,097,164 — 12,097,164 Other 1,406 — — 1,406 29,921,844 16,184,542 (16,360,051 ) 29,746,335 |
Note 7 - Variable-interest En_2
Note 7 - Variable-interest Entities and Unconsolidated Investments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | (In thousands) September 30, 2018 December 31, 2017 Assets $ 38,422 $ 36,781 Liabilities $ 1,960 $ 3,187 |
Unconsolidated Investments [Table Text Block] | Carrying Value of Investment on (Amounts in thousands) Amyris Equity September 30, 2018 December 31, 2017 Equity-method investments: Novvi LLC 20 % $ — $ — Total Amyris BioSolutions B.V. 25 % $ — $ — Other unconsolidated equity investment: SweeGen, Inc. 3 % $ 5,313 $ 3,233 |
Note 8 - Net Loss Per Share A_2
Note 8 - Net Loss Per Share Attributable to Common Stockholders (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except shares and per share amounts) 2018 2017 2018 2017 Numerator: Net loss attributable to Amyris, Inc. $ (68,321 ) $ (33,861 ) $ (158,284 ) $ (70,612 ) Less deemed dividend on capital distribution to related parties — — — (8,648 ) Less deemed dividend related to beneficial conversion feature on Series A preferred stock — — — (562 ) Less deemed dividend related to beneficial conversion feature on Series B preferred stock — (634 ) — (634 ) Less deemed dividend related to beneficial conversion feature on Series D preferred stock — (5,757 ) — (5,757 ) Less cumulative dividends on Series A and B preferred stock (279 ) (2,567 ) (1,073 ) (4,242 ) Net loss attributable to Amyris, Inc. common stockholders, basic and diluted $ (68,600 ) $ (42,819 ) $ (159,357 ) $ (90,455 ) Denominator: Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted 60,966,071 37,529,694 55,735,571 27,280,894 Basic and diluted loss per share $ (1.13 ) $ (1.14 ) $ (2.86 ) $ (3.32 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended Nine Months Ended 2018 2017 2018 2017 Period-end stock options to purchase common stock 5,449,701 949,023 5,449,701 949,023 Convertible promissory notes (1) 9,397,134 8,133,594 9,397,134 8,133,594 Period-end common stock warrants 25,986,432 31,303,080 25,986,432 31,303,080 Period-end restricted stock units 5,324,092 599,425 5,324,092 599,425 Period-end preferred stock 2,955,732 — 2,955,732 — Total potentially dilutive securities excluded from computation of diluted loss per share 49,113,091 40,985,122 49,113,091 40,985,122 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule Of Future Minimum Payments For Lease Obligations [Table Text Block] | Years ending December 31: (In thousands) Capital Operating Total Lease 2018 (remaining three months) $ 143 $ 2,776 $ 2,919 2019 513 9,966 10,479 2020 199 7,675 7,874 2021 3 7,237 7,240 2022 — 7,410 7,410 Thereafter — 3,270 3,270 Total future minimum payments $ 858 $ 38,334 $ 39,192 Less: amount representing interest (46 ) Present value of minimum lease payments 812 Less: current portion (503 ) Long-term portion $ 309 |
Note 10 - Revenue Recognition_2
Note 10 - Revenue Recognition and Contract Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total United States $ 4,884 $ — $ 626 $ 5,510 $ 5,873 $ — $ 6,141 $ 12,014 Europe 1,175 142 3,908 5,225 2,314 1,022 3,935 7,271 Asia 3,544 — — 3,544 2,773 — 125 2,898 South America 36 — 551 587 36 — 1,978 2,014 Other — — — — — — — — $ 9,639 $ 142 $ 5,085 $ 14,866 $ 10,996 $ 1,022 $ 12,179 $ 24,197 Nine Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total United States $ 9,185 $ — $ 6,457 $ 15,642 $ 8,871 $ 2,673 $ 15,510 $ 27,054 Europe 6,596 18,466 11,723 36,785 5,621 1,468 9,295 16,384 Asia 5,335 — 1,000 6,335 14,242 2,633 375 17,250 South America 251 — 1,945 2,196 180 — 1,978 2,158 Other 100 — — 100 11 — — 11 $ 21,467 $ 18,466 $ 21,125 $ 61,058 $ 28,925 $ 6,774 $ 27,158 $ 62,857 |
Revenue in Connection with Significant Revenue Agreement [Table Text Block] | Three Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total DSM - related party $ 17 $ (39 ) $ 1,748 $ 1,726 $ — $ 703 $ 634 $ 1,337 Givaudan 525 — 1,500 2,025 1,331 — 1,500 2,831 Firmenich 904 181 1,212 2,297 4,525 319 1,351 6,195 Nenter — — — — 1,678 — — 1,678 DARPA — — 241 241 — — 1,252 1,252 Subtotal revenue from significant revenue agreements 1,446 142 4,701 6,289 7,534 1,022 4,737 13,293 Revenue from all other customers 8,193 — 384 8,577 3,462 — 7,442 10,904 Total revenue from all customers $ 9,639 $ 142 $ 5,085 $ 14,866 $ 10,996 $ 1,022 $ 12,179 $ 24,197 Nine Months Ended September 30, (In thousands) 2018 2017 Renewable Licenses Grants and Total Renewable Licenses Grants and Total DSM - related party $ 17 $ 18,248 $ 5,611 $ 23,876 $ 10 $ 703 $ 783 $ 1,496 Givaudan 3,710 — 4,358 8,068 1,950 — 4,500 6,450 Firmenich 1,110 218 3,698 5,026 6,178 765 4,562 11,505 Nenter — — 1,000 1,000 8,003 2,633 — 10,636 DARPA — — 5,278 5,278 — — 6,894 6,894 Subtotal revenue from significant revenue agreements 4,837 18,466 19,945 43,248 16,141 4,101 16,739 36,981 Revenue from all other customers 16,630 — 1,180 17,810 12,784 2,673 10,419 25,876 Total revenue from all customers $ 21,467 $ 18,466 $ 21,125 $ 61,058 $ 28,925 $ 6,774 $ 27,158 $ 62,857 |
Contract with Customer, Asset and Liability [Table Text Block] | (In thousands) September 30, December 31, Unbilled receivable, current $ 56 $ 9,340 Unbilled receivable, noncurrent $ 9,767 $ 7,940 Deferred revenue, current $ 6,698 $ 4,880 Deferred revenue, noncurrent $ 383 (1) $ 383 (1) Accounts receivable, net $ 35,564 $ 24,281 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | (In thousands) As of September 30, 2018 Remaining 2018 $ 3,592 2019 9,742 2020 7,742 2021 and thereafter 672 Total from all customers $ 21,748 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Related Party Accounts Receivables [Table Text Block] | (In thousands) September 30, 2018 December 31, 2017 Accounts receivable, net: DSM $ 20,419 $ 3,483 Novvi 24 1,607 Total 120 238 $ 20,563 $ 5,328 Unbilled receivable, current: DSM $ 56 $ 9,340 Unbilled receivable, noncurrent: DSM $ 9,767 $ 7,940 |
Note 12 - Stock-based Compens_2
Note 12 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | Quantity of Weighted- Weighted- Aggregate Outstanding - December 31, 2017 1,338,367 $ 33.40 7.7 $ 97 Granted 4,296,337 $ 5.18 Exercised (61,750 ) $ 3.68 Forfeited or expired (123,253 ) $ 28.18 Outstanding - September 30, 2018 5,449,701 $ 11.60 9.0 $ 13,721 Vested or expected to vest after September 30, 2018 5,031,524 $ 12.14 8.9 $ 12,552 Exercisable at September 30, 2018 942,636 $ 41.25 6.7 $ 1,536 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Quantity of Weighted- Weighted- Outstanding - December 31, 2017 683,554 $ 8.62 1.4 Awarded 4,993,022 $ 5.38 RSUs released (226,129 ) $ 10.38 RSUs forfeited (126,355 ) $ 6.16 Outstanding - September 30, 2018 5,324,092 $ 5.57 1.8 Vested or expected to vest after September 30, 2018 5,065,108 $ 5.57 1.8 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Nine Months Ended (In thousands) 2018 2017 2018 2017 Research and development $ 495 $ 395 $ 1,191 $ 1,320 Sales, general and administrative 2,442 863 4,924 2,622 Total stock-based compensation expense $ 2,937 $ 1,258 $ 6,115 $ 3,942 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Expected dividend yield — % — % — % — % Risk-free interest rate 2.8 % 2.0 % 2.7 % 2.0 % Expected term (in years) 6.87 6.20 6.85 6.10 Expected volatility 79.1 % 92.2 % 79.6 % 81.6 % |
Performance-based Stock Options [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Stock Option Award with Performance and Market Vesting Conditions: Fair value of the Company’s common stock on grant date $ 5.08 Expected volatility 70 % Risk-free interest rate 2.75 % Dividend yield 0.0 % |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Jan. 01, 2018 | |
Working Capital | $ (59,600) | $ (105,600) | ||
Retained Earnings (Accumulated Deficit), Ending Balance | (1,206,767) | (1,367,235) | ||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total | 21,500 | |||
Long-term Debt, Total | 165,377 | 171,117 | ||
Long-term Debt, Current Maturities, Including Due to Related Parties | $ 56,943 | 108,924 | ||
Convertible Debt, Total | 23,300 | |||
Long-term Debt, Maturities, Repayments of Principal and Interest in Next 15 Months | 111,400 | |||
Long Term Debt, Convertible Into Common Stock Upon Maturity | 25,000 | |||
Long-term Debt, Maturities, Repayments of Interest in Next 15 Months | 15,700 | |||
Cash, Cash Equivalents, and Short-term Investments, Total | $ 19,000 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Accounting Standards Update 2014-09 [Member] | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (800) | |||
Accounting Standards Update 2016-01 [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (1,400) |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Adoption of ASC 606 (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 14,866 | $ 24,197 | $ 61,058 | $ 62,857 |
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||||
Revenues | 101 | (17,911) | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||
Revenues | 14,967 | 43,147 | ||
Product [Member] | ||||
Revenues | 9,639 | 10,996 | 21,467 | 28,925 |
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 | 9,639 | 21,467 | ||
Licenses and Royalties [Member] | ||||
Revenues | 142 | 1,022 | 18,466 | 6,774 |
Licenses and Royalties [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||||
Revenues | 1,656 | (14,091) | ||
Licenses and Royalties [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||
Revenues | 1,798 | 4,375 | ||
Grants and Collaborations [Member] | ||||
Revenues | 5,085 | $ 12,179 | 21,125 | $ 27,158 |
Grants and Collaborations [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||||
Revenues | (1,555) | (3,820) | ||
Grants and Collaborations [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||
Revenues | $ 3,530 | $ 17,305 |
Note 2 - Balance Sheet Detail_2
Note 2 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Property, Plant and Equipment, Net, Ending Balance | $ 16,622 | $ 16,622 | $ 13,892 | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance | 104,520 | 104,520 | 105,829 | ||
Capitalized Computer Software, Additions | 500 | $ 2,100 | |||
Depreciation, Depletion and Amortization, Total | 3,957 | 8,124 | |||
Property, Plant and Equipment, Including Capital Leases [Member] | |||||
Depreciation, Depletion and Amortization, Total | 1,000 | $ 2,700 | 4,000 | $ 8,100 | |
Capital Lease Obligations [Member] | |||||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance | 2,100 | 2,100 | 1,600 | ||
Capital Lease Obligations [Member] | Machinery and Equipment, Furniture and Office Equipment Under Capital Lease [Member] | |||||
Property, Plant and Equipment, Net, Ending Balance | $ 4,900 | $ 4,900 | $ 4,200 |
Note 2 - Balance Sheet Detail_3
Note 2 - Balance Sheet Details - Inventory, Current (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Raw materials | $ 1,129 | $ 819 |
Work-in-process | 929 | 364 |
Finished goods | 4,202 | 4,225 |
Inventories | $ 6,260 | $ 5,408 |
Note 2 - Balance Sheet Detail_4
Note 2 - Balance Sheet Details - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Property, plant and equipment | $ 121,142 | $ 119,721 |
Less: accumulated depreciation and amortization | (104,520) | (105,829) |
Property, plant and equipment, net | 16,622 | 13,892 |
Machinery and Equipment [Member] | ||
Property, plant and equipment | 46,725 | 49,277 |
Leasehold Improvements [Member] | ||
Property, plant and equipment | 40,703 | 40,036 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment | 10,666 | 9,555 |
Furniture and Office Equipment, Vehicles and Land [Member] | ||
Property, plant and equipment | 3,705 | 3,415 |
Construction in Progress [Member] | ||
Property, plant and equipment | $ 19,343 | $ 17,438 |
Note 2 - Balance Sheet Detail_5
Note 2 - Balance Sheet Details - Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Contingent consideration | $ 7,805 | $ 8,151 |
Prepaid royalty | 6,847 | 7,409 |
Equity investment in SweeGen | 5,313 | 3,233 |
Deposits | 4,171 | 2,462 |
Goodwill | 560 | 560 |
Other | 1,861 | 825 |
Other assets | $ 26,557 | $ 22,640 |
Note 2 - Balance Sheet Detail_6
Note 2 - Balance Sheet Details - Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Payroll and related expenses | $ 9,774 | $ 7,238 |
Accrued interest | 6,010 | 8,213 |
SMA relocation accrual | 2,964 | 3,587 |
Tax-related liabilities | 2,154 | 5,837 |
Professional services | 1,402 | 1,894 |
Contract termination | 1,000 | |
Other | 3,959 | 2,633 |
Total accrued and other current liabilities | $ 27,263 | $ 29,402 |
Note 3 - Fair Value Measureme_3
Note 3 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Equity Securities, FV-NI | $ 5,313 | $ 3,233 | |
Equity Securities, FV-NI, Unrealized Gain | $ 3,460 | ||
SweeGen Common Stock [Member] | |||
Equity Securities, Number of Unregistered Shares Hold | 850,115 | ||
Equity Securities, FV-NI, Unrealized Gain | $ 1,700 | $ 3,500 | |
SweeGen Common Stock [Member] | Other Noncurrent Assets [Member] | |||
Equity Securities, FV-NI | $ 5,300 | $ 2,000 |
Note 3 - Fair Value Measureme_4
Note 3 - Fair Value Measurement - Fair Value, Assets, and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Equity investment in SweeGen | $ 5,313 | $ 3,233 |
Fair Value, Measurements, Recurring [Member] | ||
Money market funds | 53,199 | |
Certificates of deposit | 7,813 | |
Equity investment in SweeGen | 5,313 | |
Total assets measured and recorded at fair value | 5,313 | 61,012 |
Embedded derivatives in connection with the issuance of debt and equity instruments | 9,379 | 4,203 |
Freestanding derivative instruments in connection with the issuance of equity instruments | 89,283 | 115,775 |
Total liabilities measured and recorded at fair value | 98,662 | 119,978 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Money market funds | 53,199 | |
Certificates of deposit | 7,813 | |
Equity investment in SweeGen | ||
Total assets measured and recorded at fair value | 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 | 5,313 | |
Total assets measured and recorded at fair value | 5,313 | |
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 | 9,379 | 4,203 |
Freestanding derivative instruments in connection with the issuance of equity instruments | 89,283 | 115,775 |
Total liabilities measured and recorded at fair value | $ 98,662 | $ 119,978 |
Note 3 - Fair Value Measureme_5
Note 3 - Fair Value Measurement - Reconciliation for Compound Embedded Derivative Liability (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Derivative Liability, Equity-related [Member] | |
Balance, compound embedded derivative liabilities | $ 112,368 |
Change in fair value of derivative liabilities | 49,442 |
Derecognition upon extinguishment of derivative liabilities | (85,912) |
Balance, compound embedded derivative liabilities | 75,898 |
Derivative Liability, Debt-related [Member] | |
Balance, compound embedded derivative liabilities | 7,610 |
Change in fair value of derivative liabilities | 15,154 |
Derecognition upon extinguishment of derivative liabilities | |
Balance, compound embedded derivative liabilities | 22,764 |
Derivative Financial Instruments, Liabilities [Member] | |
Balance, compound embedded derivative liabilities | 119,978 |
Change in fair value of derivative liabilities | 64,596 |
Derecognition upon extinguishment of derivative liabilities | (85,912) |
Balance, compound embedded derivative liabilities | $ 98,662 |
Note 3 - Fair Value Measureme_6
Note 3 - Fair Value Measurement - Market-based Assumption and Estimates for Compound Embedded Derivative Liabilities Valuation (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018$ / shares | Dec. 31, 2017$ / shares | |
Share Price | $ 7.94 | $ 3.75 |
Measurement Input, Probability of Change in Control [Member] | ||
Risk-free interest rate | 0.05 | |
Minimum [Member] | ||
Estimated conversion dates | 2,018 | 2,018 |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Risk-free interest rate | 0.0212 | 0.0168 |
Minimum [Member] | Measurement Input, Risk-adjusted Yields [Member] | ||
Risk-free interest rate | 0.139 | 0.184 |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Risk-free interest rate | 0.45 | 0.45 |
Minimum [Member] | Measurement Input, Probability of Change in Control [Member] | ||
Risk-free interest rate | 0 | |
Minimum [Member] | Measurement Input, Credit Spread [Member] | ||
Risk-free interest rate | 0.1169 | 0.1663 |
Maximum [Member] | ||
Estimated conversion dates | 2,025 | 2,025 |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Risk-free interest rate | 0.0301 | 0.024 |
Maximum [Member] | Measurement Input, Risk-adjusted Yields [Member] | ||
Risk-free interest rate | 0.2403 | 0.2853 |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Risk-free interest rate | 0.8 | 0.8 |
Maximum [Member] | Measurement Input, Probability of Change in Control [Member] | ||
Risk-free interest rate | 0.05 | |
Maximum [Member] | Measurement Input, Credit Spread [Member] | ||
Risk-free interest rate | 0.2165 | 0.267 |
Note 3 - Fair Value Measureme_7
Note 3 - Fair Value Measurement - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Total debt | $ 166,218 | $ 156,900 |
Reported Value Measurement [Member] | ||
Total debt | $ 171,117 | $ 165,377 |
Note 4 - Debt (Details Textual)
Note 4 - Debt (Details Textual) - USD ($) | Jun. 29, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Aug. 31, 2018 | Jul. 31, 2018 | Oct. 31, 2015 | May 31, 2014 |
Repayments of Long-term Debt, Total | $ 41,970,000 | $ 26,708,000 | |||||
Loan Annual Amortization Percentage of Loan Accounts Outstanding | 2.50% | ||||||
Debt Instrument, Facility Charge, Percentage | 4.00% | ||||||
Debt Instrument, Origination Fee Amount | $ 1,400,000 | ||||||
Debt Instrument, Funded Amount and Other Closing Costs | 200,000 | ||||||
Debt Instrument, Agency Fee Amount Per Quarter | 25,000 | ||||||
Unamortized Debt Issuance Expense | $ 1,600,000 | ||||||
Minimum [Member] | Prime Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 4.00% | ||||||
Maximum [Member] | Prime Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 6.25% | ||||||
Convertible Senior Notes, 9.5% [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2015.00% | ||||||
Rule 144A Convertible Note Offering [Member] | Convertible Debt Securities [Member] | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 2014.00% | ||||||
August 2013 Convertible Notes [Member] | |||||||
Debt Instrument, Convertible, Conversion Price | $ 4.40 | $ 5.2977 | |||||
Hercules Technology Growth Capital, Inc. (Hercules) [Member] | Loan and Security Agreement [Member] | |||||||
Repayments of Long-term Debt, Total | $ 27,300,000 | ||||||
Great American Capital Partners, LLC [Member] | Loan and Security Agreement [Member] | |||||||
Debt Instrument, Face Amount | 36,000,000 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000,000 |
Note 4 - Debt - Debt Components
Note 4 - Debt - Debt Components (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Debt, principal | $ 192,621 | $ 195,819 |
Unamortized Debt Discount | (21,504) | (30,442) |
Debt | 171,117 | 165,377 |
Debt, current | 108,924 | 56,943 |
Debt, noncurrent | 62,193 | 108,434 |
Convertible Debt [Member] | ||
Debt, principal | 66,307 | 70,900 |
Unamortized Debt Discount | (6,422) | (12,985) |
Debt | 59,885 | 57,915 |
Convertible Debt [Member] | The 2015 144A Notes [Member] | ||
Debt, principal | 37,887 | 37,887 |
Unamortized Debt Discount | (3,268) | (6,872) |
Debt | 34,619 | 31,015 |
Convertible Debt [Member] | The 2014 144A Notes [Member] | ||
Debt, principal | 24,004 | 24,004 |
Unamortized Debt Discount | (1,445) | (3,170) |
Debt | 22,559 | 20,834 |
Convertible Debt [Member] | December 2017 Convertible Note [Member] | ||
Debt, principal | 5,000 | |
Unamortized Debt Discount | (25) | |
Debt | 4,975 | |
Convertible Debt [Member] | August 2013 Convertible Notes [Member] | ||
Debt, principal | 4,416 | 4,009 |
Unamortized Debt Discount | (1,709) | (2,918) |
Debt | 2,707 | 1,091 |
Loans Payable [Member] | ||
Debt, principal | 52,769 | 47,410 |
Unamortized Debt Discount | (7,082) | (6,513) |
Debt | 45,687 | 40,897 |
Loans Payable [Member] | Great American Capital Partners, LLC Term Loan Facility [Member] | ||
Debt, principal | 36,000 | |
Unamortized Debt Discount | (1,489) | |
Debt | 34,511 | |
Loans Payable [Member] | Senior Secured Convertible Note [Member] | ||
Debt, principal | 28,566 | |
Unamortized Debt Discount | (253) | |
Debt | 28,313 | |
Loans Payable [Member] | Ginkgo Collaboration Note [Member] | ||
Debt, principal | 12,000 | 12,000 |
Unamortized Debt Discount | (4,390) | (4,983) |
Debt | 7,610 | 7,017 |
Loans Payable [Member] | Other Loans Payable [Member] | ||
Debt, principal | 4,643 | 6,463 |
Unamortized Debt Discount | (1,203) | (1,277) |
Debt | 3,440 | 5,186 |
Loans Payable [Member] | Other Credit Facilities [Member] | ||
Debt, principal | 126 | 381 |
Unamortized Debt Discount | ||
Debt | 126 | 381 |
Nonrelated Party Debt [Member] | ||
Debt, principal | 119,076 | 118,310 |
Unamortized Debt Discount | (13,504) | (19,498) |
Debt | 105,572 | 98,812 |
Related Party Convertible Notes [Member] | ||
Debt, principal | 48,039 | 50,116 |
Unamortized Debt Discount | (1,526) | (2,905) |
Debt | 46,513 | 47,211 |
Related Party Convertible Notes [Member] | The 2014 144A Notes [Member] | ||
Debt, principal | 24,705 | 24,705 |
Unamortized Debt Discount | (1,731) | (3,784) |
Debt | 22,974 | 20,921 |
Related Party Convertible Notes [Member] | August 2013 Convertible Notes [Member] | ||
Debt, principal | 23,334 | 21,711 |
Unamortized Debt Discount | 205 | 897 |
Debt | 23,539 | 22,608 |
Related Party Convertible Notes [Member] | Secured R&D Notes [Member] | ||
Debt, principal | 3,700 | |
Unamortized Debt Discount | (18) | |
Debt | 3,682 | |
Related Party Loan Payable [Member] | ||
Debt, principal | 25,506 | 27,393 |
Unamortized Debt Discount | (6,474) | (8,039) |
Debt | 19,032 | 19,354 |
Related Party Loan Payable [Member] | Other Loans Payable [Member] | ||
Debt, principal | 506 | 393 |
Unamortized Debt Discount | ||
Debt | 506 | 393 |
Related Party Loan Payable [Member] | DSM Note [Member] | ||
Debt, principal | 25,000 | 25,000 |
Unamortized Debt Discount | (6,474) | (8,039) |
Debt | 18,526 | 16,961 |
Related Party Loan Payable [Member] | Private Placement February 2016 [Member] | ||
Debt, principal | 2,000 | |
Unamortized Debt Discount | ||
Debt | 2,000 | |
Related Party Debt [Member] | ||
Debt, principal | 73,545 | 77,509 |
Unamortized Debt Discount | (8,000) | (10,944) |
Debt | $ 65,545 | $ 66,565 |
Note 4 - Debt - Long-term Debt
Note 4 - Debt - Long-term Debt Instruments (Details) $ in Thousands | Sep. 30, 2018USD ($) |
2018 (remaining three months) | $ 6,023 |
2,019 | 106,409 |
2,020 | 11,415 |
2,021 | 61,699 |
2,022 | 13,416 |
Thereafter | 2,565 |
Total future minimum payments | 201,527 |
Less: amount representing interest | (31,792) |
Add: amount mandatorily convertible into common stock upon maturity | (24,970) |
Less: future conversion of accrued interest to principal | (2,083) |
Present value of minimum debt payments | 192,622 |
Less: current portion of debt principal | (117,592) |
Noncurrent portion of debt principal | 75,030 |
Convertible Debt [Member] | |
2018 (remaining three months) | 2,580 |
2,019 | 69,333 |
2,020 | |
2,021 | |
2,022 | |
Thereafter | |
Total future minimum payments | 71,913 |
Less: amount representing interest | (5,159) |
Add: amount mandatorily convertible into common stock upon maturity | |
Less: future conversion of accrued interest to principal | (447) |
Present value of minimum debt payments | 66,307 |
Less: current portion of debt principal | (66,307) |
Noncurrent portion of debt principal | |
Loans Payable and Credit Facilities [Member] | |
2018 (remaining three months) | 1,508 |
2,019 | 9,068 |
2,020 | 8,915 |
2,021 | 34,178 |
2,022 | 13,416 |
Thereafter | 2,565 |
Total future minimum payments | 69,650 |
Less: amount representing interest | (16,881) |
Add: amount mandatorily convertible into common stock upon maturity | |
Less: future conversion of accrued interest to principal | |
Present value of minimum debt payments | 52,769 |
Less: current portion of debt principal | (2,739) |
Noncurrent portion of debt principal | 50,030 |
Related Party Loan Payable [Member] | |
2018 (remaining three months) | 803 |
2,019 | 25,508 |
2,020 | |
2,021 | |
2,022 | |
Thereafter | |
Total future minimum payments | 26,311 |
Less: amount representing interest | (1,606) |
Add: amount mandatorily convertible into common stock upon maturity | (24,970) |
Less: future conversion of accrued interest to principal | (1,636) |
Present value of minimum debt payments | 48,039 |
Less: current portion of debt principal | (48,039) |
Noncurrent portion of debt principal | |
Related Party Loans Payable and Credit Facilities [Member] | |
2018 (remaining three months) | 1,132 |
2,019 | 2,500 |
2,020 | 2,500 |
2,021 | 27,521 |
2,022 | |
Thereafter | |
Total future minimum payments | 33,653 |
Less: amount representing interest | (8,146) |
Add: amount mandatorily convertible into common stock upon maturity | |
Less: future conversion of accrued interest to principal | |
Present value of minimum debt payments | 25,507 |
Less: current portion of debt principal | (507) |
Noncurrent portion of debt principal | $ 25,000 |
Note 5 - Mezzanine Equity (Deta
Note 5 - Mezzanine Equity (Details Textual) - $ / shares | Apr. 08, 2016 | Sep. 30, 2018 | Dec. 31, 2017 |
Share Price | $ 7.94 | $ 3.75 | |
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 Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Contingently Redeemable Common Stock [Member] | ||
Mezzanine Equity | $ 5 | $ 5 |
Note 6 - Stockholders' Defici_2
Note 6 - Stockholders' Deficit (Details Textual) | Apr. 12, 2018USD ($)yr$ / sharesshares | Mar. 08, 2016USD ($) | Aug. 31, 2018USD ($)yr$ / sharesshares | Sep. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)$ / sharesshares | Sep. 30, 2017USD ($) | Jul. 31, 2018$ / shares |
Proceeds from Warrant Exercises | $ 60,544,000 | ||||||||
Stock Issued During Period, Shares, Warrants Exercised | shares | 16,360,051 | ||||||||
Class of Warrants or Right, Issued in Period | shares | 16,184,542 | ||||||||
Gain (Loss) on Extinguishment of Derivative Liability, Net | $ 1,900,000 | ||||||||
Gain on Extinguishment of Derivative Liability | $ (1,782,000) | 11,300,000 | $ 16,036,000 | $ 75,000 | $ 25,489,000 | ||||
At the Market Offering [Member] | |||||||||
Common Stock, Value, Subscriptions | $ 50,000,000 | $ 0 | $ 0 | ||||||
Commission Rate | 3.00% | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 0 | 205,168 | |||||||
Proceeds from Issuance of Common Stock | $ 1,400,000 | ||||||||
At The Market Offering, Six Months Ended [Member] | |||||||||
Shares Issued, Price Per Share | $ / shares | $ 6.90 | $ 6.90 | |||||||
August 2013 Convertible Notes [Member] | |||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 4.40 | $ 5.2977 | |||||||
May 2017 Warrants [Member] | |||||||||
Proceeds from Warrant Exercises | $ 8,000,000 | ||||||||
Stock Issued During Period, Shares, Warrants Exercised | shares | 6 | ||||||||
Class of Warrants or Right, Issued in Period | shares | 3,616,174 | ||||||||
Proceeds from Issuance of Warrants | $ 14.50 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 7 | ||||||||
Warrants and Rights Outstanding | $ 9,400,000 | ||||||||
Loss on Extinguishment of Derivative Liability | 9,400,000 | ||||||||
Increase (Decrease) in Derivative Liabilities | $ (21,900,000) | ||||||||
May 2017 Warrants [Member] | Measurement Input, Price Volatility [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0.9 | ||||||||
May 2017 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0216 | ||||||||
May 2017 Warrants [Member] | Measurement Input, Expected Term [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | yr | 1.25 | ||||||||
May 2017 Warrants [Member] | Measurement Input, Expected Dividend Payment [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | ||||||||
May 2017 Warrants [Member] | Measurement Input, Exercise Price [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 7 | ||||||||
May 2017 Warrants [Member] | Measurement Input, Share Price [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 6.8 | ||||||||
Cash Warrants and Dilution Warrants [Member] | |||||||||
Proceeds from Warrant Exercises | $ 46,000,000 | ||||||||
Stock Issued During Period, Shares, Warrants Exercised | shares | 12,600,000 | ||||||||
August 2018 New Warrants [Member] | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 7.52 | ||||||||
Warrants and Rights Outstanding | $ 30,100,000 | ||||||||
Gain (Loss) on Extinguishment of Derivative Liability, Net | (3,600,000) | ||||||||
Gain on Extinguishment of Derivative Liability | 26,500,000 | ||||||||
Loss on Extinguishment of Derivative Liability | 30,100,000 | ||||||||
Increase (Decrease) in Derivative Liabilities | $ 63,300,000 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 12.1 | ||||||||
August 2018 New Warrants [Member] | Measurement Input, Price Volatility [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0.8 | ||||||||
August 2018 New Warrants [Member] | Measurement Input, Expected Term [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | yr | 1.75 | ||||||||
August 2018 New Warrants [Member] | Measurement Input, Exercise Price [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 7.52 | ||||||||
August 2018 New Warrants [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | ||||||||
Temasek Funding Warrant [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,889,986 | 1,889,986 | |||||||
Class of Warrant or Right, Additional Number of Securities Called by Warrants or Rights | shares | 471,204 |
Note 6 - Stockholders' Defici_3
Note 6 - Stockholders' Deficit - Warrant Activity (Details) | 9 Months Ended |
Sep. 30, 2018shares | |
Number outstanding, beginning balance (in shares) | 29,921,844 |
Additional Warrants Issued (in shares) | 16,184,542 |
Exercises (in shares) | (16,360,051) |
Number outstanding, ending balance (in shares) | 29,746,335 |
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) | 471,204 |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 2,553,214 |
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) | (10,784,933) |
Number outstanding, ending balance (in shares) | 7,257,635 |
Warrant 5 [Member] | |
Number outstanding, beginning balance (in shares) | 9,543,234 |
Additional Warrants Issued (in shares) | |
Exercises (in shares) | (5,575,118) |
Number outstanding, ending balance (in shares) | 3,968,116 |
Warrant 6 [Member] | |
Number outstanding, beginning balance (in shares) | |
Additional Warrants Issued (in shares) | 3,616,174 |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 3,616,174 |
Warrant 7 [Member] | |
Number outstanding, beginning balance (in shares) | |
Additional Warrants Issued (in shares) | 12,097,164 |
Exercises (in shares) | |
Number outstanding, ending balance (in shares) | 12,097,164 |
Warrant 8 [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 En_3
Note 7 - Variable-interest Entities and Unconsolidated Investments - Variable Interest Entities (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | $ 38,422 | $ 36,781 |
Liabilities | $ 1,960 | $ 3,187 |
Note 7 - Variable-interest En_4
Note 7 - Variable-interest Entities and Unconsolidated Investments - Unconsolidated Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Equity investment in SweeGen | $ 5,313 | $ 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] | ||
SweeGen, Inc. | 3.00% | |
Equity investment in SweeGen | $ 5,313 | $ 3,233 |
Note 8 - Net Loss Per Share A_3
Note 8 - Net Loss Per Share Attributable to Common Stockholders (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings Per Share, Diluted, Total | $ 60,966,071 | $ 37,529,694 | $ 55,735,571 | $ 27,280,894 |
Previously Reported [Member] | ||||
Net Income (Loss) Available to Common Stockholders, Diluted, Total | $ (125.9) | |||
Earnings Per Share, Diluted, Total | $ (4.61) |
Note 8 - Net Loss Per Share A_4
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 | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net loss attributable to Amyris, Inc. | $ (68,321) | $ (33,861) | $ (158,284) | $ (70,612) |
Less deemed dividend on capital distribution to related parties | (8,648) | |||
Less deemed dividend related to beneficial conversion feature on Series A preferred stock | (562) | |||
Less deemed dividend related to beneficial conversion feature on Series B preferred stock | (634) | (634) | ||
Less deemed dividend related to beneficial conversion feature on Series D preferred stock | (5,757) | (5,757) | ||
Less cumulative dividends on Series A and B preferred stock | (279) | (2,567) | (1,073) | (4,242) |
Net loss attributable to Amyris, Inc. common stockholders, basic and diluted | $ (68,600) | $ (42,819) | $ (159,357) | $ (90,455) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted (in shares) | 60,966,071 | 37,529,694 | 55,735,571 | 27,280,894 |
Loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (1.13) | $ (1.14) | $ (2.86) | $ (3.32) |
Note 8 - Net Loss Per Share A_5
Note 8 - Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Antidilutive securities (in shares) | 49,113,091 | 40,985,122 | 49,113,091 | 40,985,122 | |
Stock Options to Purchase Common Stock [Member] | |||||
Antidilutive securities (in shares) | 5,449,701 | 949,023 | 5,449,701 | 949,023 | |
Convertible Promissory Notes [Member] | |||||
Antidilutive securities (in shares) | [1] | 9,397,134 | 8,133,594 | 9,397,134 | 8,133,594 |
Period-end Common Stock Warrants [Member] | |||||
Antidilutive securities (in shares) | 25,986,432 | 31,303,080 | 25,986,432 | 31,303,080 | |
Restricted Stock Units (RSUs) [Member] | |||||
Antidilutive securities (in shares) | 5,324,092 | 599,425 | 5,324,092 | 599,425 | |
Period-end Preferred Stock [Member] | |||||
Antidilutive securities (in shares) | 2,955,732 | 2,955,732 | |||
[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 Cont_3
Note 9 - Commitments and Contingencies (Details Textual) - Chattel Mortgage [Member] R$ in Millions, $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2018BRL (R$) | Dec. 31, 2017USD ($) | Dec. 31, 2017BRL (R$) | |
FINEP Credit Facility [Member] | ||||
Research and Development Asset Acquired Other than Through Business Combination, Fair Value Acquired | $ | $ 1.5 | $ 1.8 | ||
FINEP Credit Facility [Member] | ||||
Research and Development Asset Acquired Other than Through Business Combination, Fair Value Acquired | R$ | R$ 6 | R$ 6 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Future Minimum Payments for Lease Obligations (Details) $ in Thousands | Sep. 30, 2018USD ($) |
2018 (remaining three months) | $ 143 |
2018 (remaining three months) | 2,776 |
2018 (remaining three months) | 2,919 |
Capital leases 2019 | 513 |
Operating leases 2019 | 9,966 |
Total lease obligations 2019 | 10,479 |
Capital leases 2020 | 199 |
Operating leases 2020 | 7,675 |
Total lease obligations 2020 | 7,874 |
Capital leases 2021 | 3 |
Operating leases 2021 | 7,237 |
Total lease obligations 2021 | 7,240 |
Capital leases 2022 | |
Operating leases 2022 | 7,410 |
Total lease obligations 2022 | 7,410 |
Capital leases thereafter | |
Operating leases thereafter | 3,270 |
Total lease obligations thereafter | 3,270 |
Total future minimum capital lease payments | 858 |
Total future minimum operating lease payments | 38,334 |
Total future minimum lease payments | 39,192 |
Less: amount representing interest | (46) |
Present value of minimum lease payments | 812 |
Less: current portion | (503) |
Long-term portion | $ 309 |
Note 10 - Revenue Recognition_3
Note 10 - Revenue Recognition and Contract Assets and Liabilities (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Contract with Customer, Asset, Reclassified to Receivable | $ 7,500 | ||
Increase (Decrease) in Contract with Customer, Liability | 1,014 | $ 1,113 | |
Contract with Customer, Liability, Current | 6,698 | $ 4,880 | |
Revenue, Remaining Performance Obligation, Constrained Variable Consideration, Amount | 17,400 | ||
Royalty [Member] | |||
Contract with Customer, Liability, Revenue Recognized | 3,300 | ||
Accounting Standards Update 2014-09 [Member] | |||
Increase (Decrease) in Contract with Customer, Liability | 1,800 | ||
Contract with Customer, Liability, Current | $ 800 |
Note 10 - Revenue Recognition_4
Note 10 - Revenue Recognition and Contract Assets and Liabilities - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 14,866 | $ 24,197 | $ 61,058 | $ 62,857 |
Product [Member] | ||||
Revenues | 9,639 | 10,996 | 21,467 | 28,925 |
Licenses and Royalties [Member] | ||||
Revenues | 142 | 1,022 | 18,466 | 6,774 |
Grants and Collaborations [Member] | ||||
Revenues | 5,085 | 12,179 | 21,125 | 27,158 |
UNITED STATES | ||||
Revenues | 5,510 | 12,014 | 15,642 | 27,054 |
UNITED STATES | Product [Member] | ||||
Revenues | 4,884 | 5,873 | 9,185 | 8,871 |
UNITED STATES | Licenses and Royalties [Member] | ||||
Revenues | 2,673 | |||
UNITED STATES | Grants and Collaborations [Member] | ||||
Revenues | 626 | 6,141 | 6,457 | 15,510 |
Europe [Member] | ||||
Revenues | 5,225 | 7,271 | 36,785 | 16,384 |
Europe [Member] | Product [Member] | ||||
Revenues | 1,175 | 2,314 | 6,596 | 5,621 |
Europe [Member] | Licenses and Royalties [Member] | ||||
Revenues | 142 | 1,022 | 18,466 | 1,468 |
Europe [Member] | Grants and Collaborations [Member] | ||||
Revenues | 3,908 | 3,935 | 11,723 | 9,295 |
Asia [Member] | ||||
Revenues | 3,544 | 2,898 | 6,335 | 17,250 |
Asia [Member] | Product [Member] | ||||
Revenues | 3,544 | 2,773 | 5,335 | 14,242 |
Asia [Member] | Licenses and Royalties [Member] | ||||
Revenues | 2,633 | |||
Asia [Member] | Grants and Collaborations [Member] | ||||
Revenues | 125 | 1,000 | 375 | |
South America [Member] | ||||
Revenues | 587 | 2,014 | 2,196 | 2,158 |
South America [Member] | Product [Member] | ||||
Revenues | 36 | 36 | 251 | 180 |
South America [Member] | Licenses and Royalties [Member] | ||||
Revenues | ||||
South America [Member] | Grants and Collaborations [Member] | ||||
Revenues | 551 | 1,978 | 1,945 | 1,978 |
Other Area [Member] | ||||
Revenues | 100 | 11 | ||
Other Area [Member] | Product [Member] | ||||
Revenues | 100 | 11 | ||
Other Area [Member] | Licenses and Royalties [Member] | ||||
Revenues | ||||
Other Area [Member] | Grants and Collaborations [Member] | ||||
Revenues |
Note 10 - Revenue Recognition_5
Note 10 - Revenue Recognition and Contract Assets and Liabilities - Revenue in Connection With Significant Revenue Agreement (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 14,866 | $ 24,197 | $ 61,058 | $ 62,857 |
Significant Revenue Agreement [Member] | ||||
Revenues | 6,289 | 13,293 | 43,248 | 36,981 |
DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,726 | 1,337 | 23,876 | 1,496 |
Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 2,025 | 2,831 | 8,068 | 6,450 |
Firmenich [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 2,297 | 6,195 | 5,026 | 11,505 |
Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,678 | 1,000 | 10,636 | |
DARPA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 241 | 1,252 | 5,278 | 6,894 |
All Other Customers [Member] | ||||
Revenues | 8,577 | 10,904 | 17,810 | 25,876 |
Renewable Products [Member] | ||||
Revenues | 9,639 | 10,996 | 21,467 | 28,925 |
Renewable Products [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,446 | 7,534 | 4,837 | 16,141 |
Renewable Products [Member] | DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 17 | 17 | 10 | |
Renewable Products [Member] | Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 525 | 1,331 | 3,710 | 1,950 |
Renewable Products [Member] | Firmenich [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 904 | 4,525 | 1,110 | 6,178 |
Renewable Products [Member] | Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,678 | 8,003 | ||
Renewable Products [Member] | DARPA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | ||||
Renewable Products [Member] | All Other Customers [Member] | ||||
Revenues | 8,193 | 3,462 | 16,630 | 12,784 |
Licenses and Royalties [Member] | ||||
Revenues | 142 | 1,022 | 18,466 | 6,774 |
Licenses and Royalties [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 142 | 1,022 | 18,466 | 4,101 |
Licenses and Royalties [Member] | DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | (39) | 703 | 18,248 | 703 |
Licenses and Royalties [Member] | Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | ||||
Licenses and Royalties [Member] | Firmenich [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 181 | 319 | 218 | 765 |
Licenses and Royalties [Member] | Nenter & Co., Inc. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 2,633 | |||
Licenses and Royalties [Member] | DARPA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | ||||
Licenses and Royalties [Member] | All Other Customers [Member] | ||||
Revenues | 2,673 | |||
Grants and Collaborations [Member] | ||||
Revenues | 5,085 | 12,179 | 21,125 | 27,158 |
Grants and Collaborations [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 4,701 | 4,737 | 19,945 | 16,739 |
Grants and Collaborations [Member] | DSM International B.V. [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,748 | 634 | 5,611 | 783 |
Grants and Collaborations [Member] | Givaudan International, SA [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,500 | 1,500 | 4,358 | 4,500 |
Grants and Collaborations [Member] | Firmenich [Member] | Significant Revenue Agreement [Member] | ||||
Revenues | 1,212 | 1,351 | 3,698 | 4,562 |
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 | 241 | 1,252 | 5,278 | 6,894 |
Grants and Collaborations [Member] | All Other Customers [Member] | ||||
Revenues | $ 384 | $ 7,442 | $ 1,180 | $ 10,419 |
Note 10 - Revenue Recognition_6
Note 10 - Revenue Recognition and Contract Assets and Liabilities - Contract Balances (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | |
Unbilled receivable, current | $ 56 | $ 9,340 | |
Unbilled receivable, noncurrent | 9,767 | 7,940 | |
Deferred revenue, current | 6,698 | 4,880 | |
Deferred revenue, noncurrent | [1] | 383 | 383 |
Accounts receivable, net | $ 35,564 | $ 24,281 | |
[1] | As of September 30, 2018 and December 31, 2017, deferred revenue, noncurrent is presented in Other Noncurrent Liabilities in the consolidated balance sheets because of its insignificance. |
Note 10 - Revenue Recognition_7
Note 10 - Revenue Recognition and Contract Assets and Liabilities - Remaining Performance Obligations (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Remaining performance obligation | $ 21,748 |
Note 10 - Revenue Recognition_8
Note 10 - Revenue Recognition and Contract Assets and Liabilities - Remaining Performance Obligations 2 (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Remaining performance obligation | $ 21,748 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Remaining performance obligation | 3,592 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Remaining performance obligation | 9,742 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Remaining performance obligation | 7,742 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Remaining performance obligation | $ 672 |
Note 11 - Related Party Trans_3
Note 11 - Related Party Transactions - Related Party Accounts Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts receivable, net | $ 20,563 | $ 5,328 |
Unbilled receivable | 56 | 9,340 |
Unbilled receivable, noncurrent | 9,767 | 7,940 |
DSM International B.V. [Member] | ||
Accounts receivable, net | 20,419 | 3,483 |
Unbilled receivable | 56 | 9,340 |
Unbilled receivable, noncurrent | 9,767 | 7,940 |
Novvi LLC [Member] | ||
Accounts receivable, net | 24 | 1,607 |
Total [Member] | ||
Accounts receivable, net | $ 120 | $ 238 |
Note 12 - Stock-based Compens_3
Note 12 - Stock-based Compensation (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
May 31, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
Performance-based Stock Options, Grant Date Fair Value | $ 5,100,000 | $ 5,100,000 | $ 5,100,000 | |||
Allocated Share-based Compensation Expense, Total | $ 2,937,000 | $ 1,258,000 | $ 6,115,000 | $ 3,942,000 | ||
Chief Executive Officer [Member] | ||||||
Purchasable Shares Under Performance Based Options | 3,250,000 | |||||
Performance-Based Stock Options, Exercise Price | $ 5.08 | |||||
Chief Executive Officer [Member] | Minimum [Member] | ||||||
Performance-Based Stock Options Contingently Available for Issuance | 0 | 0 | 0 | |||
Chief Executive Officer [Member] | Maximum [Member] | ||||||
Performance-Based Stock Options Contingently Available for Issuance | 3,250,000 | 3,250,000 | 3,250,000 | |||
Equity Incentive Plan, 2010 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 9,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | 4,000,000 | |||||
Employee Stock Purchase Plan, 2010 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,000,000 | |||||
Employee Stock Option [Member] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 35 | $ 35 | $ 35 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 182 days | |||||
Performance-based Stock Options [Member] | ||||||
Performance-Based Stock Options, Exercise Price | $ 5.08 | |||||
Allocated Share-based Compensation Expense, Total | $ 300,000 | $ 400,000 |
Note 12 - Stock-based Compens_4
Note 12 - Stock-based Compensation - Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 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) | 9 years | 7 years 255 days |
Outstanding, aggregate intrinsic value | $ 13,721 | $ 97 |
Granted (in shares) | 4,296,337 | |
Granted, weighted average exercise price (in dollars per share) | $ 5.18 | |
Exercised (in shares) | (61,750) | |
Exercised, weighted average exercise price (in dollars per share) | $ 3.68 | |
Forfeited or expired (in shares) | (123,253) | |
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 28.18 | |
Outstanding (in shares) | 5,449,701 | 1,338,367 |
Outstanding, weighted average exercise price (in dollars per share) | $ 11.60 | $ 33.40 |
Vested or expected to vest (in shares) | 5,031,524 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 12.14 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 8 years 328 days | |
Vested and expected to vest, aggregate intrinsic value | $ 12,552 | |
Exercisable (in shares) | 942,636 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 41.25 | |
Exercisable, weighted average remaining contractual life (Year) | 6 years 255 days | |
Exercisable, aggregate intrinsic value | $ 1,536 |
Note 12 - Stock-based Compens_5
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 | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Outstanding, RSUs (in shares) | 683,554 | |
Outstanding, weighted average grant-date fair value (in dollars per share) | $ 8.62 | |
Outstanding, weighted average remaining contractual life (Year) | 1 year 292 days | 1 year 146 days |
Awarded (in shares) | 4,993,022 | |
Awarded, weighted average grant-date fair value (in dollars per share) | $ 5.38 | |
RSUs released (in shares) | (226,129) | |
RSUs released, weighted average grant-date fair value (in dollars per share) | $ 10.38 | |
RSUs forfeited (in shares) | (126,355) | |
RSUs forfeited, weighted average grant-date fair value (in dollars per share) | $ 6.16 | |
Outstanding, RSUs (in shares) | 5,324,092 | 683,554 |
Outstanding, weighted average grant-date fair value (in dollars per share) | $ 5.57 | $ 8.62 |
Vested or expected to vest (in shares) | 5,065,108 | |
Vested or expected to vest, weighted average grant-date fair value (in dollars per share) | $ 5.57 | |
Vested or expected to vest, weighted average remaining contractual life (Year) | 1 year 292 days |
Note 12 - Stock-based Compens_6
Note 12 - Stock-based Compensation - Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Allocated share-based compensation expense | $ 2,937 | $ 1,258 | $ 6,115 | $ 3,942 |
Research and Development Expense [Member] | ||||
Allocated share-based compensation expense | 495 | 395 | 1,191 | 1,320 |
Selling, General and Administrative Expenses [Member] | ||||
Allocated share-based compensation expense | $ 2,442 | $ 863 | $ 4,924 | $ 2,622 |
Note 12 - Stock-based Compens_7
Note 12 - Stock-based Compensation - Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Employee Stock Option [Member] | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Expected dividend yield | ||||
Risk-free interest rate | 2.80% | 2.00% | 2.70% | 2.00% |
Expected term (in years) (Year) | 6 years 317 days | 6 years 73 days | 6 years 310 days | 6 years 36 days |
Expected volatility | 79.10% | 92.20% | 79.60% | 81.60% |
Note 12 - Stock-based Compens_8
Note 12 - Stock-based Compensation - Share-based Payment Award, Stock Options with Performance, Valuation Assumptions (Details) - Performance-based Stock Options [Member] | 9 Months Ended |
Sep. 30, 2018$ / shares | |
Fair value of the Company’s common stock on grant date (in dollars per share) | $ 5.08 |
Expected volatility | 70.00% |
Risk-free interest rate | 2.75% |
Dividend yield | 0.00% |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - shares | Nov. 08, 2018 | Oct. 19, 2018 | Oct. 16, 2018 | Sep. 30, 2018 |
Temasek Funding Warrant [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,889,986 | |||
Subsequent Event [Member] | Temasek Funding Warrant [Member] | ||||
Stock Issued During Period, Shares, New Issues | 1,852,585 | |||
Tranche I Notes [Member] | Subsequent Event [Member] | ||||
Debt Conversion, Converted Instrument, Shares Issued | 3,448,821 | |||
Tranche II Notes [Member] | Subsequent Event [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 2,226,105 |