Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'AMYRIS, INC. | ' |
Entity Central Index Key | '0001365916 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 76,270,980 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $5,756 | $30,592 |
Short-term investments | 580 | 97 |
Accounts receivable, net of allowance of $481 as of September 30, 2013 and December 31, 2012 | 2,789 | 3,846 |
Related party accounts receivable | 1,022 | 0 |
Inventories, net | 7,948 | 6,034 |
Prepaid expenses and other current assets | 7,164 | 8,925 |
Total current assets | 25,259 | 49,494 |
Property, plant and equipment, net | 140,718 | 163,121 |
Restricted cash | 956 | 955 |
Other assets | 19,725 | 20,112 |
Goodwill and intangible assets | 9,120 | 9,152 |
Total assets | 195,778 | 242,834 |
Current liabilities: | ' | ' |
Accounts payable | 12,881 | 15,392 |
Deferred revenue | 7,351 | 1,333 |
Accrued and other current liabilities | 20,305 | 24,410 |
Capital lease obligation, current portion | 1,031 | 1,366 |
Debt, current portion | 5,448 | 3,325 |
Total current liabilities | 47,016 | 45,826 |
Capital lease obligation, net of current portion | 464 | 1,244 |
Long-term debt, net of current portion | 55,299 | 61,806 |
Related party debt | 58,091 | 39,033 |
Deferred rent, net of current portion | 10,084 | 8,508 |
Deferred revenue, net of current portion | 5,000 | 4,255 |
Other liabilities | 19,404 | 15,933 |
Total liabilities | 195,358 | 176,605 |
Commitments and contingencies (Note 5) | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred stock - $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock - $0.0001 par value, 200,000,000 and 100,000,000 shares authorized as of September 30, 2013 and December 31, 2012, respectively; 76,245,375 and 68,709,660 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively | 8 | 7 |
Additional paid-in capital | 699,979 | 666,233 |
Accumulated other comprehensive loss | -16,961 | -12,807 |
Accumulated deficit | -682,016 | -586,327 |
Total Amyris, Inc. stockholders’ equity | 1,010 | 67,106 |
Noncontrolling interest | -590 | -877 |
Total stockholders' equity | 420 | 66,229 |
Total liabilities and stockholders' equity | $195,778 | $242,834 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for Doubtful Accounts | $481 | $481 |
Stockholders' Equity: | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 200,000,000 | 100,000,000 |
Common stock, shares issued | 76,245,375 | 68,709,660 |
Common Stock, Shares, Outstanding | 76,245,375 | 68,709,660 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | ' | ' | ' | ' |
Product sales | $3,138 | $4,728 | $10,130 | $46,615 |
Related party product sales | 1,006 | 0 | 1,182 | 0 |
Total product sales | 4,144 | 4,728 | 11,312 | 46,615 |
Grants and collaborations revenue | 2,860 | 4,605 | 11,763 | 11,450 |
Related party grants and collaborations revenue | 0 | 9,775 | 2,647 | 9,775 |
Total grants and collaborations revenue | 2,860 | 14,380 | 14,410 | 21,225 |
Total revenues | 7,004 | 19,108 | 25,722 | 67,840 |
Cost and operating expenses | ' | ' | ' | ' |
Cost of products sold | 8,328 | 4,444 | 26,141 | 71,891 |
Loss on purchase commitments and write off of production assets | 0 | 1,438 | 8,423 | 38,090 |
Research and development | 13,370 | 15,736 | 43,116 | 55,580 |
Sales, general and administrative | 13,057 | 17,355 | 42,602 | 61,301 |
Total cost and operating expenses | 34,755 | 38,973 | 120,282 | 226,862 |
Loss from operations | -27,751 | -19,865 | -94,560 | -159,022 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 21 | 297 | 114 | 1,406 |
Interest expense | -2,110 | -1,224 | -5,230 | -3,538 |
Other income (expense), net | 4,177 | 664 | 3,266 | -512 |
Total other income (expense) | 2,088 | -263 | -1,850 | -2,644 |
Loss before income taxes | -25,663 | -20,128 | -96,410 | -161,666 |
Benefit (provision) for income taxes | 1,435 | -260 | 953 | -753 |
Net loss | -24,228 | -20,388 | -95,457 | -162,419 |
Net (income) loss attributable to noncontrolling interest | 29 | 95 | -232 | 772 |
Net loss attributable to Amyris, Inc. common stockholders | ($24,199) | ($20,293) | ($95,689) | ($161,647) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | ($0.32) | ($0.34) | ($1.27) | ($2.91) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted | 76,205,853 | 58,964,226 | 75,167,877 | 55,552,949 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net loss | ($24,228) | ($20,388) | ($95,457) | ($162,419) |
Foreign currency translation adjustment, net of tax | -66 | -410 | -4,099 | -6,346 |
Total comprehensive loss | -24,294 | -20,798 | -99,556 | -168,765 |
Net (income) loss attributable to noncontrolling interest | 29 | 95 | -232 | 772 |
Foreign currency translation adjustment attributable to noncontrolling interest | -3 | -41 | -55 | -209 |
Comprehensive loss attributable to Amyris, Inc. | ($24,268) | ($20,744) | ($99,843) | ($168,202) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
In Thousands, except Share data, unless otherwise specified | ||||||
Beginning Balance, value at Dec. 31, 2012 | $66,229 | $7 | $666,233 | ($586,327) | ($12,807) | ($877) |
Beginning Balance, shares at Dec. 31, 2012 | 68,709,660 | 68,709,660 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Issuance of common stock upon exercise of stock options, net of restricted stock, value | 747 | ' | 747 | ' | ' | ' |
Issuance of common stock upon exercise of stock options, net of restricted stock, shares | ' | 510,107 | ' | ' | ' | ' |
Stock issued during period | 19,979 | 1 | 19,978 | ' | ' | ' |
Stock issued during period, shares | ' | 6,567,299 | ' | ' | ' | ' |
Shares issued from restricted stock unit settlement, value | -590 | ' | -590 | ' | ' | ' |
Shares issued from restricted stock unit settlement, shares | ' | 458,309 | ' | ' | ' | ' |
Stock-based compensation | 13,611 | ' | 13,611 | ' | ' | ' |
Foreign currency translation adjustment, net of tax | -4,099 | ' | ' | ' | -4,154 | 55 |
Net income (loss) | -95,457 | ' | ' | -95,689 | ' | 232 |
Ending Balance, value at Sep. 30, 2013 | $420 | $8 | $699,979 | ($682,016) | ($16,961) | ($590) |
Ending Balance, shares at Sep. 30, 2013 | 76,245,375 | 76,245,375 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Stockholders' Equity Condensed Consolidated Statements Stockholders' Equity (Parenthetical) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Statement of Stockholders' Equity [Abstract] | ' |
Payments of Stock Issuance Costs | $21 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | ' | ' |
Net loss | ($95,457) | ($162,419) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 12,259 | 10,686 |
Loss on disposal of property, plant and equipment | 81 | 208 |
Stock-based compensation | 13,611 | 21,400 |
Amortization of debt discount | 2,135 | 316 |
Provision for doubtful accounts | 0 | 236 |
Loss on purchase commitments and write off of production assets | 8,423 | 38,090 |
Change in fair value of derivative instruments | -5,295 | 364 |
Other noncash expenses | 213 | 108 |
Changes in assets and liabilities: | ' | ' |
Accounts receivable | 1,390 | 2,864 |
Related party accounts receivable | -1,022 | 0 |
Inventories, net | -2,590 | 612 |
Prepaid expenses and other assets | -1,477 | 10,655 |
Accounts payable | 2,848 | -11,200 |
Accrued, other current liabilities and other liabilities | -10,966 | -29,362 |
Deferred revenue | 6,763 | -1,308 |
Deferred rent | -340 | -943 |
Net cash used in operating activities | -69,424 | -119,693 |
Investing activities | ' | ' |
Purchase of short-term investments | -1,820 | -8,240 |
Maturities of short-term investments | 1,209 | 0 |
Sales of short-term investments | 0 | 16,449 |
Change in restricted cash | -1 | -954 |
Purchase of property, plant and equipment, net of disposals | -5,901 | -50,344 |
Deposits on property, plant and equipment | 0 | -562 |
Net cash used in investing activities | -6,513 | -43,651 |
Financing activities | ' | ' |
Proceeds from issuance of common stock, net of repurchases | 157 | 696 |
Proceeds from issuance of common stock in private placements, net of issuance costs | 19,981 | 62,490 |
Principal payments on capital leases | -1,115 | -2,970 |
Proceeds from debt issued | 2,709 | 75,624 |
Proceeds from debt issued to related party | 30,000 | 30,000 |
Principal payments on debt | -2,494 | -52,052 |
Net cash provided by financing activities | 49,238 | 113,788 |
Effect of exchange rate changes on cash and cash equivalents | 1,863 | -1,774 |
Net decrease in cash and cash equivalents | -24,836 | -51,330 |
Cash and cash equivalents at beginning of period | 30,592 | 95,703 |
Cash and cash equivalents at end of period | 5,756 | 44,373 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid for interest | 1,610 | 2,831 |
Cash paid for income taxes, net of refunds | 0 | 0 |
Supplemental disclosures of noncash investing and financing activities: | ' | ' |
Acquisitions of property, plant and equipment within accounts payable, accrued liabilities and notes payable | 1,444 | 5,672 |
Financing of insurance premium under notes payable | 43 | 0 |
Long-term deposits used for purchase of property, plant and equipment | $0 | $12,286 |
The_Company
The Company | 9 Months Ended |
Sep. 30, 2013 | |
The Company [Abstract] | ' |
The Company | ' |
The Company | |
Amyris, Inc. (the “Company”) was incorporated in California on July 17, 2003 and reincorporated in Delaware on June 10, 2010 for the purpose of leveraging breakthroughs in synthetic biology to develop and provide renewable compounds for a variety of markets. The Company is currently building and applying its industrial synthetic biology platform to provide alternatives to select petroleum-sourced products used in specialty chemical and transportation fuel markets worldwide. The Company's first commercialization efforts have been focused on a renewable hydrocarbon molecule called farnesene ("Biofene®"), which forms the basis for a wide range of products varying from specialty chemical applications to transportation fuels, such as diesel. While the Company's platform is able to use a wide variety of feedstocks, the Company is focused initially on Brazilian sugarcane. In addition, the Company has entered into various contract manufacturing agreements to support commercial production. The Company has established two principal operating subsidiaries, Amyris Brasil Ltda. (formerly Amyris Brasil S.A., “Amyris Brasil”) for production in Brazil, and Amyris Fuels, LLC ("Amyris Fuels"). Nearly all of the Company's revenues through 2012 came from the sale of ethanol and reformulated ethanol-blended gasoline with substantially all of the remaining revenues coming from collaborations, government grants and sales of renewable products. In the third quarter of 2012, the Company transitioned out of the ethanol and reformulated ethanol-blended gasoline business. The Company does not expect to be able to replace much of the revenue lost in the near term as a result of this transition, particularly in 2013, while it continues its efforts to establish a renewable products business. | |
The Company's renewable products business strategy is to focus on the commercialization of specialty products while moving established commodity products into joint venture arrangements with leading industry partners. To commercialize its products, the Company must be successful in using its technology to manufacture its products at commercial scale and on an economically viable basis (i.e., low per unit production costs). The Company is building experience producing renewable products at commercial scale. The Company's prospects are subject to risks, expenses and uncertainties frequently encountered by companies in this stage of development. | |
The Company expects to fund its operations for the foreseeable future with cash and investments currently on hand, with cash inflows from collaboration and grant funding, cash contributions from product sales, and with new debt and equity financings. The Company's planned 2013 and 2014 working capital needs and its planned operating and capital expenditures for 2013 and 2014 are dependent on significant inflows of cash from existing collaboration partners and from funds under existing convertible debt facility, as well as additional funding from new collaborations, and may also require additional funding from credit facilities or loans. The Company will continue to need to fund its research and development and related activities and to provide working capital to fund production, storage, distribution and other aspects of its business. The Company's operating plan contemplates capital expenditures of approximately $10.0 million in 2013 and the Company expects to continue to incur costs in connection with its existing contract manufacturing arrangements (see Note 6, "Debt" and Note 10, "Stockholders' Equity"). | |
Liquidity | |
The Company has incurred significant losses since its inception and believes that it will continue to incur losses and negative cash flow from operations into at least 2014. As of September 30, 2013, the Company had an accumulated deficit of $682.0 million and had cash, cash equivalents and short term investments of $6.3 million. The Company has significant outstanding debt and contractual obligations related to purchase commitments, as well as capital and operating leases. As of September 30, 2013, the Company's debt, net of debt discount, totaled $118.8 million, of which $5.4 million matures within the next twelve months. In addition, the Company's debt agreements contain various covenants, including restrictions on the Company's business that could cause the Company to be at risk of defaults. Please refer to Note 5, "Commitments and Contingencies" and Note 6, "Debt" for further details regarding the Company's obligations and commitments. | |
In August 2013, the Company entered into a purchase agreement with Total Energies Nouvelles Activités USA (f.k.a. Total Gas & Power USA SAS) ("Total") and Maxwell (Mauritius) Pte Ltd (“Temasek”) to sell up to $73.0 million in convertible promissory notes in private placements, with such notes to be sold and issued over a period of up to 24 months from the date of signing (the "August 2013 Financing"). The purchase agreement provided for the financing to be divided into two tranches (the first tranche for $42.6 million and the second tranche for $30.4 million), each with differing closing conditions. Of the total possible purchase price in the financing, $60.0 million was contemplated to be paid in the form of cash by Temasek ($35.0 million in the first tranche and up to $25.0 million in the second tranche) and $13.0 million was contemplated to be paid by exchange and cancellation of outstanding convertible promissory notes by Total in connection with its exercise of pro rata rights ($7.6 million in the first tranche and up to $5.4 million in the second tranche). In October 2013, the Company amended the financing agreement to include an additional investor in the first tranche convertible promissory notes in the principal amount of $7.6 million in additional cash funding, and to proportionally increase the amount acquired by exchange and cancellation of outstanding convertible promissory notes by Total in connection with its exercise of pro rata rights to $14.6 million ($9.2 million in the first tranche and up to $5.4 million in the second tranche). Also in October 2013, the Company completed the closing of the first tranche of the August 2013 Financing, issuing a total of $51.8 million in convertible promissory notes for cash proceeds of $7.6 million and cancellation of outstanding promissory notes and convertible promissory notes of $44.2 million, of which $35.0 million resulted from the cancellation of the Temasek Bridge Note (as defined below and as described further under Note 17, "Subsequent Events"). | |
In September 2013, the Company entered into a bridge loan agreement with an existing investor to provide additional cash availability of up to $5.0 million as needed before the initial closing of the August 2013 Financing. The bridge loan agreement provided for the sale of up to $5.0 million in principal amount of unsecured convertible promissory notes at any time prior to October 31, 2013 following the satisfaction of certain closing conditions, including a condition that the Company pay an availability fee for the bridge loan. The Company did not use this facility and it expired in October 2013 in accordance with its terms. | |
In October 2013, the Company sold and issued a senior secured promissory note to Temasek for a bridge loan of $35.0 million (the "Temasek Bridge Note"). The note was due on February 2, 2014 and accrued interest at a rate of 5.5% each four months from October 4, 2013. On October 16, 2013, the note was cancelled as payment for the investor’s purchase of a first tranche convertible promissory note in aggregate principal amount of $35.0 million in the August 2013 Financing. All interest outstanding under the Temasek Bridge Note at the time of cancellation was transferred to the first tranche convertible promissory note. | |
In addition to cash contributions from product sales and debt and equity financings, the Company also depends on collaboration funding to support its operating expenses. While part of this funding is committed based on existing collaboration agreements, the Company will need to identify and obtain funding under additional collaborations that are not yet subject to any definitive agreement or are not yet identified. In addition, some of the Company’s existing collaboration funding is subject to achievement by the Company of milestones or other funding conditions. | |
If the Company cannot secure sufficient collaboration funding to support its operating expenses in excess of cash contributions from product sales and existing debt and equity financings, it may need to issue additional preferred and/or discounted equity, agree to onerous covenants, grant further security interest in its assets, enter into collaboration and licensing arrangements that require it to relinquish commercial rights, or grant licenses on terms that are not favorable. If the Company fails to secure such funding, the Company could be forced to curtail its operations, which would have a material adverse effect on the Company's ability to continue with its business plans, and the Company's status as a going concern. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Basis of Presentation | |
The accompanying interim condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions for Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and notes required for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 28, 2013. The unaudited condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates | |
In preparing the unaudited condensed consolidated financial statements, management must make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
Unaudited Interim Financial Information | |
The accompanying interim condensed consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. | |
Recent Accounting Pronouncements | |
In December 2011, the International Accounting Standards Board and the Financial Accounting Standards Board ("FASB") issued common disclosure requirements that are intended to enhance comparability between financial statements prepared on the basis of GAAP and those prepared in accordance with International Financial Reporting Standards. In January 2013, the FASB issued an accounting standard update to limit the scope of the new balance sheet offsetting disclosures to derivative instruments, repurchase agreements, and securities lending transactions to the extent that they are offset in the financial statement or subject to an enforceable master netting arrangement or similar arrangement. While this guidance does not change existing offsetting criteria in GAAP or the permitted balance sheet presentation for items meeting the criteria, it requires an entity to disclose both net and gross information about assets and liabilities that have been offset and the related arrangements. Required disclosures under this new guidance should be provided retrospectively for all comparative periods presented. This new guidance is effective for fiscal years beginning on or after January 1, 2013, and interim periods within those years. The adoption of this guidance in the Company's first quarter of fiscal year 2013 did not have a material effect on the Company's consolidated financial statements. | |
In July 2012, the FASB issued an amended accounting standard update to simplify how entities test indefinite-lived intangible assets for impairment which improve consistency in impairment testing requirements among long-lived asset categories. The amended guidance permits an assessment of qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying value. For assets in which this assessment concludes it is more likely than not that the fair value is more than its carrying value, then the amended guidance eliminates the requirement to perform quantitative impairment testing as outlined in the previously issued standards. The amended guidance is effective for fiscal years beginning after September 15, 2012 and early adoption is permitted. The adopted and amended guidance did not have an impact on the Company's consolidated financial statements. | |
In February 2013, in connection with the accounting standard related to the presentation of the statement of comprehensive income, the FASB issued an accounting standard update to improve the reporting of reclassifications out of accumulated other comprehensive income of various components. This guidance requires companies to present either parenthetically on the face of the financial statements or in the notes, significant amounts reclassified from each component of accumulated other comprehensive income and the income statement line items affected by the reclassification. This standard is effective for interim periods and fiscal years beginning after December 15, 2012. The adoption of this guidance in the Company's first quarter of fiscal year 2013 did not have a material effect on the Company's consolidated financial statements. | |
In July 2013, the FASB issued a new accounting standard update on the financial statement presentation of unrecognized tax benefits. The new guidance provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance becomes effective for the Company on January 1, 2014 and will be applied prospectively to unrecognized tax benefits that exist at the effective date with retrospective applications permitted. The Company is currently assessing the impact of this new guidance. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||
The inputs to the valuation techniques used to measure fair value are classified into the following categories: | ||||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | ||||||||||||||||||
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. | ||||||||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | ||||||||||||||||||
As of September 30, 2013, the Company’s financial assets and financial liabilities are presented below at fair value and were classified within the fair value hierarchy as follows (in thousands): | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance as of | |||||||||||||||
30-Sep-13 | ||||||||||||||||||
Financial Assets | ||||||||||||||||||
Money market funds | $ | 245 | $ | — | $ | — | $ | 245 | ||||||||||
Certificates of deposit | 580 | — | — | 580 | ||||||||||||||
Total financial assets | $ | 825 | $ | — | $ | — | $ | 825 | ||||||||||
Financial Liabilities | ||||||||||||||||||
Loans payable(1) | $ | — | $ | 19,502 | $ | — | $ | 19,502 | ||||||||||
Credit facilities(1) | — | 8,555 | — | 8,555 | ||||||||||||||
Convertible notes(1) | — | — | 88,261 | 88,261 | ||||||||||||||
Compound embedded derivative liability | — | — | 13,836 | 13,836 | ||||||||||||||
Currency interest rate swap derivative liability | — | 3,074 | — | 3,074 | ||||||||||||||
Total financial liabilities | $ | — | $ | 31,131 | $ | 102,097 | $ | 133,228 | ||||||||||
______________ | ||||||||||||||||||
(1) These liabilities are carried on the condensed consolidated balance sheet on a historical cost basis. | ||||||||||||||||||
The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. The fair values of money market funds are based on fair values of identical assets. The fair values of the loans payable, convertible notes, credit facilities and currency interest rate swaps are based on the present value of expected future cash flows and assumptions about current interest rates and the creditworthiness of the Company. Market risk associated with fixed and variable rate long-term debt relates to the potential reduction in fair value and negative impact to future earnings, respectively, from an increase in interest rates. | ||||||||||||||||||
The carrying amounts of certain financial instruments, such as cash equivalents, accounts receivable, accounts payable, accrued liabilities and notes payable, approximate fair value due to their relatively short maturities, and low market interest rates, if applicable. The fair values of the loans payable, convertible notes and credit facilities are based on the present value of expected future cash flows and assumptions about current interest rates and the creditworthiness of the Company. | ||||||||||||||||||
The following table provides a reconciliation of the beginning and ending balances for the compound embedded derivative liability measured at fair value using significant unobservable inputs (Level 3) (in thousands): | ||||||||||||||||||
Compound Embedded Derivative Liability | ||||||||||||||||||
Balance at December 31, 2012 | $ | 7,894 | ||||||||||||||||
Transfers in to Level 3 | 13,076 | |||||||||||||||||
Total (gain) losses included in other income (expense), net | (7,134 | ) | ||||||||||||||||
Balance at September 30, 2013 | $ | 13,836 | ||||||||||||||||
The compound embedded derivative liability, which is included in other liabilities, represents the fair value of the equity conversion option and a "make-whole" provision relating to the outstanding senior unsecured convertible promissory notes issued to Total (see Note 6, "Debt"). There is no current observable market for this type of derivative and, as such, the Company determined the fair value of the embedded derivative using a Black-Scholes valuation model that combines expected cash outflows with market-based assumptions regarding risk-adjusted yields, stock price volatility, probability of a change of control and the trading information of the Company's common stock into which the notes are convertible. The Company marks the compound embedded derivative to market due to the conversion price not being indexed to the Company's own stock. Except for the "make-whole" provision included in the conversion option, which is only required to be settled in cash upon a change of control at the noteholder's option, the compound embedded derivative will be settled in either cash or shares. As of September 30, 2013, the Company has sufficient common stock available to settle the conversion option in shares. | ||||||||||||||||||
The Company’s financial assets and financial liabilities as of December 31, 2012 are presented below at fair value and were classified within the fair value hierarchy as follows (in thousands): | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance as of December 31, 2012 | |||||||||||||||
Financial Assets | ||||||||||||||||||
Money market funds | $ | 15,847 | $ | — | $ | — | $ | 15,847 | ||||||||||
Certificates of deposit | 757 | — | — | 757 | ||||||||||||||
Total financial assets | $ | 16,604 | $ | — | $ | — | $ | 16,604 | ||||||||||
Financial Liabilities | ||||||||||||||||||
Notes payable(1) | $ | — | $ | 1,676 | $ | — | $ | 1,676 | ||||||||||
Loans payable(1) | — | 20,707 | — | 20,707 | ||||||||||||||
Credit facilities(1) | — | 11,503 | — | 11,503 | ||||||||||||||
Convertible notes(1) | — | — | 62,522 | 62,522 | ||||||||||||||
Compound embedded derivative liability | — | — | 7,894 | 7,894 | ||||||||||||||
Currency interest rate swap derivative liability | — | 1,367 | — | 1,367 | ||||||||||||||
Total financial liabilities | $ | — | $ | 35,253 | $ | 70,416 | $ | 105,669 | ||||||||||
______________ | ||||||||||||||||||
(1) These liabilities are carried on the condensed consolidated balance sheet on a historical cost basis. | ||||||||||||||||||
Derivative Instruments | ||||||||||||||||||
The Company’s derivative instruments included Chicago Board of Trade ethanol futures and Reformulated Blendstock for Oxygenate Blending gasoline futures. All derivative commodity instruments were recorded at fair value on the condensed consolidated balance sheets. None of the Company’s derivative instruments were designated as hedging instruments. Changes in the fair value of these non-designated hedging instruments were recognized in cost of products sold in the condensed consolidated statements of operations. As of September 30, 2013, the Company had no outstanding derivative commodity instruments resulting from the Company's transition out of its ethanol and ethanol-blended gasoline business in the quarter ended September 30, 2012. | ||||||||||||||||||
In June 2012, the Company entered into a loan agreement with Banco Pine S.A. ("Banco Pine") under which Banco Pine provided the Company with a short term loan of R$52.0 million (approximately US$25.6 million based on the exchange rate as of September 30, 2012, the time of the loan repayment) (the “Banco Pine Bridge Loan”). At the time of the Banco Pine Bridge Loan, the Company also entered into a currency interest rate swap arrangement with Banco Pine with respect to the repayment of R$22.0 million (approximately US$9.9 million based on the exchange rate of as of September 30, 2013). The swap arrangement exchanges the principal and interest payments under the Banco Pine loan of R$22.0 million entered into in July 2012 (the "Banco Pine Loan") for alternative principal and interest payments that are subject to adjustment based on fluctuations in the foreign exchange rate between the U.S. dollar and Brazilian real. The swap has a fixed interest rate of 3.94%. Changes in the fair value of the swap are recognized in other income (expense), net in the condensed consolidated statements of operations. | ||||||||||||||||||
As of September 30, 2013, included in Other Liabilities on the condensed consolidated balance sheet is the Company's compound embedded derivative liability of $13.8 million, which represents the fair value of the equity conversion option and "make-whole" provision relating to the outstanding senior unsecured convertible promissory notes issued to Total as described above. | ||||||||||||||||||
Derivative instruments measured at fair value as of September 30, 2013 and December 31, 2012, and their classification on the condensed consolidated balance sheet and condensed consolidated statements of operations, are presented in the following tables (in thousands except contract amounts): | ||||||||||||||||||
Asset/Liability as of | ||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||
Type of Derivative Contract | Quantity of | Fair Value | Quantity of | Fair Value | ||||||||||||||
Contracts | Contracts | |||||||||||||||||
Currency interest rate swap, included as net liability in other liabilities | 1 | $ | 3,074 | 1 | $ | 1,367 | ||||||||||||
Type of Derivative Contract | Income | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
Statement Classification | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Gain (Loss) Recognized | Gain (Loss) Recognized | |||||||||||||||||
Regulated fixed price futures contracts | Cost of products sold | $ | — | $ | (31 | ) | $ | — | $ | (288 | ) | |||||||
Currency interest rate swap | Other income (expense), net | $ | (137 | ) | $ | 82 | $ | (1,707 | ) | $ | (1,133 | ) | ||||||
Balance_Sheet_Components
Balance Sheet Components | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Balance Sheet Components [Abstract] | ' | |||||||||
Balance Sheet Components | ' | |||||||||
Balance Sheet Components | ||||||||||
Inventories | ||||||||||
Inventories are stated at the lower of cost or market and consist of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Raw materials | $ | 1,527 | $ | 1,574 | ||||||
Work-in-process | 5,218 | 1,771 | ||||||||
Finished goods | 1,203 | 2,689 | ||||||||
Inventories, net | $ | 7,948 | $ | 6,034 | ||||||
The Company evaluates the recoverability of its inventories based on assumptions about expected demand and net realizable value. If the Company determines that the cost of inventories exceeds its estimated net realizable value, the Company records a write-down equal to the difference between the cost of inventories and the estimated net realizable value. Cost is computed on a first-in, first-out basis. Inventory costs include transportation costs incurred in bringing the inventory to its existing location. The Company also evaluates the terms of its agreements with its suppliers and establishes accruals for estimated adverse purchase commitments as necessary, applying the same lower of cost or market approach that is used to value inventory. | ||||||||||
Prepaid and Other Current Assets | ||||||||||
Prepaid and other current assets is comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Advances to contract manufacturers(1) | $ | 10 | $ | 784 | ||||||
Manufacturing catalysts | 1,441 | 1,895 | ||||||||
Recoverable VAT and other taxes | 4,146 | 4,167 | ||||||||
Other | 1,567 | 2,079 | ||||||||
Prepaid and other current assets | $ | 7,164 | $ | 8,925 | ||||||
____ | ||||||||||
-1 | At December 31, 2012, the amount of $0.8 million, relates to the current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. | |||||||||
Property, Plant and Equipment, net | ||||||||||
Property, plant and equipment, net is comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
Useful Life | 2013 | 2012 | ||||||||
Leasehold improvements | Lesser of remaining useful life or lease term | $ | 39,114 | $ | 39,290 | |||||
Machinery and equipment | 7 - 15 Years | 98,350 | 105,162 | |||||||
Computers and software | 3 - 5 Years | 8,509 | 8,232 | |||||||
Furniture and office equipment | 5 years | 2,520 | 2,467 | |||||||
Buildings | 15 Years | 6,829 | 5,888 | |||||||
Vehicles | 5 years | 465 | 575 | |||||||
Construction in progress | 42,933 | 45,372 | ||||||||
198,720 | 206,986 | |||||||||
Less: accumulated depreciation and amortization | (58,002 | ) | (43,865 | ) | ||||||
Property, plant and equipment, net | $ | 140,718 | $ | 163,121 | ||||||
The Company's first, purpose-built, large-scale Biofene production plant in southeastern Brazil commenced operations in December 2012. This plant is located at Brotas in the state of São Paulo, Brazil and is adjacent to an existing sugar and ethanol mill, Paraíso Bioenergia. The Company's construction in progress consists primarily of the upfront plant design and the initial construction of a second large-scale production plant in Brazil, located at the Usina São Martinho sugar and ethanol mill (also in the state of São Paulo, Brazil). | ||||||||||
Property, plant and equipment, net includes $3.4 million and $9.1 million of machinery and equipment and furniture and office equipment under capital leases as of September 30, 2013 and December 31, 2012, respectively. Accumulated amortization of assets under capital leases totaled $1.3 million and $4.1 million as of September 30, 2013 and December 31, 2012, respectively. | ||||||||||
Depreciation and amortization expense, including amortization of assets under capital leases, was $3.8 million and $3.1 million for the three months ended September 30, 2013 and 2012, respectively, and was $12.2 million and $10.4 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||
The Company capitalizes interest costs incurred to construct plant and equipment. The capitalized interest is recorded as part of the depreciable cost of the asset to which it relates to and is amortized over the asset's estimated useful life. Interest cost capitalized as of September 30, 2013 and December 31, 2012 was R$1.1 million (approximately $0.5 million and $0.6 million based on the exchange rates as of September 30, 2013 and December 31, 2012, respectively). | ||||||||||
Other Assets | ||||||||||
Other assets are comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Deposits on property and equipment, including taxes | $ | 2,137 | $ | 2,363 | ||||||
Advances to contract manufacturers, net of current portion(1) | — | 2,222 | ||||||||
Recoverable taxes on purchased property, plant and equipment and inventory(2) | 15,609 | 13,597 | ||||||||
Other | 1,979 | 1,930 | ||||||||
Total other assets | $ | 19,725 | $ | 20,112 | ||||||
_________ | ||||||||||
(1) | At December 31, 2012, the amount of $2.2 million relates to the non-current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. | |||||||||
(2) | At September 30, 2013 and December 31, 2012, the amounts of $15.6 million and $13.6 million, respectively, are recoverable taxes from Brazilian governmental entities. | |||||||||
Accrued and Other Current Liabilities | ||||||||||
Accrued and other current liabilities are comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Professional services | $ | 2,859 | $ | 824 | ||||||
Accrued vacation | 2,179 | 2,673 | ||||||||
Payroll and related expenses | 5,099 | 5,809 | ||||||||
Tax-related liabilities | 641 | 851 | ||||||||
Deferred rent, current portion | 1,111 | 1,448 | ||||||||
Accrued interest(1) | 1,435 | 965 | ||||||||
Contractual obligations to contract manufacturers, current | 5,868 | 9,952 | ||||||||
Customer advances | 372 | 970 | ||||||||
Other(1) | 741 | 918 | ||||||||
Total accrued and other current liabilities | $ | 20,305 | $ | 24,410 | ||||||
__________ | ||||||||||
(1) | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not materially change previously reported consolidated financial statements. | |||||||||
Other Liabilities | ||||||||||
Other liabilities are comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Contractual obligations to contract manufacturers, non-current | $ | 1,000 | $ | 4,000 | ||||||
Fair market value of swap obligations | 3,074 | 1,367 | ||||||||
Fair value of compound embedded derivative liability(1) | 13,836 | 7,894 | ||||||||
Tax-related liabilities(2) | 469 | 1,609 | ||||||||
Other(2) | 1,025 | 1,063 | ||||||||
Total other liabilities | $ | 19,404 | $ | 15,933 | ||||||
__________ | ||||||||||
(1) | The compound embedded derivative liability represents the fair value of the equity conversion feature and a "make-whole" feature related to the outstanding senior unsecured convertible promissory notes issued to Total. | |||||||||
(2) | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not materially change previously reported consolidated financial statements. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
Commitments and Contingencies | ' | |||||||||||
Commitments and Contingencies | ||||||||||||
The Company leases certain facilities and finances certain equipment under operating and capital leases. Operating leases include leased facilities and capital leases include leased equipment (see Note 4, "Balance Sheet Components"). Rent expense under operating leases was approximately $1.4 million and $1.2 million, respectively, for the three months ended September 30, 2013 and 2012, respectively, and was $3.5 million and $3.7 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||
In April 2013, the Company entered into an amendment to its operating lease for its headquarters in Emeryville, California (the "Amendment"). The Amendment provided for an extension of the lease term to May 2023, a modification of the base rent and elimination of the Company's loans and notes payable to the lessor of approximately $1.6 million (see Note 6, "Debt"). In addition, per the terms of the Amendment, the Company also received a rent credit of approximately $71,000 per month for the period of June 2013 through December 2013 and a rent credit of approximately $42,000 per month for the full year of 2014. | ||||||||||||
Future minimum payments under the Company's lease obligations as of September 30, 2013, are as follows (in thousands): | ||||||||||||
Years ending December 31: | Capital | Operating | Total Lease Obligations | |||||||||
Leases | Leases | |||||||||||
2013 (Remaining Three Months) | $ | 274 | $ | 1,477 | $ | 1,751 | ||||||
2014 | 1,007 | 6,277 | 7,284 | |||||||||
2015 | 289 | 6,581 | 6,870 | |||||||||
2016 | — | 6,595 | 6,595 | |||||||||
2017 | — | 6,585 | 6,585 | |||||||||
Thereafter | — | 38,973 | 38,973 | |||||||||
Total future minimum lease payments | 1,570 | $ | 66,488 | $ | 68,058 | |||||||
Less: amount representing interest | (75 | ) | ||||||||||
Present value of minimum lease payments | 1,495 | |||||||||||
Less: current portion | (1,031 | ) | ||||||||||
Long-term portion | $ | 464 | ||||||||||
Guarantor Arrangements | ||||||||||||
The Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification period is for the officer's or director’s lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that limits its exposure and enables the Company to recover a portion of any future amounts paid. As a result of its insurance policy coverage, the Company believes the estimated fair value of these indemnification agreements is minimal. Accordingly, the Company had no liabilities recorded for these agreements as of September 30, 2013 and December 31, 2012. | ||||||||||||
The Company has a credit facility with Financiadora de Estudos e Projetos (“FINEP”), a state-owned company subordinated to the Brazilian Ministry of Science and Technology (the “FINEP Credit Facility”) to finance a research and development project on sugarcane-based biodiesel (see Note 6, "Debt"). The FINEP Credit Facility provides for loans of up to an aggregate principal amount of R$6.4 million (approximately US$2.9 million based on the exchange rate as of September 30, 2013), which was available to the Company in four disbursements and is guaranteed by a chattel mortgage on certain equipment of the Company. The Company's total acquisition cost for the equipment under this guarantee is approximately R$6.0 million (approximately US$2.7 million based on the exchange rate as of September 30, 2013). Through December 31, 2012, the Company received all four disbursements after meeting certain terms and conditions for availability under the FINEP Credit Facility, as described in more detail in Note 6, "Debt." After the release of the first disbursement and prior to any subsequent drawdown from the FINEP Credit Facility, the Company provided bank letters of guarantee of R$3.3 million (approximately US$1.5 million based on the exchange rate as of September 30, 2013) through Banco ABC Brasil S.A. ("ABC Bank"). As of September 30, 2013, all available credit under this facility was fully drawn. | ||||||||||||
The Company has a credit facility with Banco Nacional de Desenvolvimento Econômico e Social ("BNDES”), a government-owned bank headquartered in Brazil (the "BNDES Credit Facility") to finance a production site in Brazil. The BNDES Credit Facility provides for loans of up to an aggregate principal amount of R$22.4 million (approximately US$10.0 million based on the exchange rate at September 30, 2013). This credit facility is collateralized by a first priority security interest in certain of the Company's equipment and other tangible assets with a total acquisition cost of R$24.9 million (approximately US$11.2 million based on the exchange rate as of September 30, 2013). The Company is a parent guarantor for the payment of the outstanding balance under the BNDES Credit Facility. Additionally, the Company is required to provide certain bank guarantees under the BNDES Credit Facility. | ||||||||||||
The Company entered into loan agreements and a security agreement where the Company pledged certain farnesene production assets as collateral (the fiduciary conveyance of movable goods) with each of Banco Nossa Caixa ("Nossa Caixa") and Banco Pine. Under the loan agreements, Banco Pine agreed to lend R$22.0 million and Nossa Caixa agreed to lend R$30.0 million as financing for capital expenditures relating to the Company's production facility in Brotas, Brazil. The Company's total acquisition cost for the farnesene production assets pledged as collateral under these agreements is approximately R$68.0 million (approximately US$30.5 million based on the exchange rate as of September 30, 2013). The Company is also a parent guarantor for the payment of the outstanding balance under these loan agreements. | ||||||||||||
The Company has an export financing agreement for approximately $2.5 million for a one-year term to fund exports through March 2014. This loan is collateralized by future exports from the Company's subsidiary in Brazil. | ||||||||||||
Under an operating lease agreement for its office facilities in Brazil, which commenced on November 15, 2011, the Company is required to maintain restricted cash or letters of credit equal to 3 months of rent of approximately R$0.2 million (approximately US$0.1 million based on the exchange rate as of September 30, 2013) in the aggregate as a guarantee that the Company will meet its performance obligations under such operating lease agreement. | ||||||||||||
Purchase Obligations | ||||||||||||
As of September 30, 2013, the Company had $11.8 million in purchase obligations which included $11.1 million in non-cancellable contractual obligations and construction commitments, of which $4.0 million have been accrued as a loss on purchase commitments. | ||||||||||||
On June 25, 2013, the Company and Tate & Lyle Ingredients Americas LLC (“Tate & Lyle”) entered into a Settlement Agreement, Termination Agreement and Mutual Release (the “Termination Agreement”) to terminate the parties’ November 2010 contract manufacturing agreement. Under the Termination Agreement, no further payments will be owed for the remaining term of the Contract Manufacturing Agreement (i.e., through 2016). In the third quarter of 2013, the Company paid $6.2 million of its obligation pertaining to the Termination Agreement. As of September 30, 2013, the Company has an outstanding liability of $2.6 million pertaining to its obligation under the Termination Agreement. | ||||||||||||
Other Matters | ||||||||||||
Certain conditions may exist as of the date the financial statements are issued which may result in a loss to the Company but will only be recorded when one or more future events occur or fail to occur. The Company's management assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against and by the Company or unasserted claims that may result in such proceedings, the Company's management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. | ||||||||||||
If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company's financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed. | ||||||||||||
In May 2013, a securities class action complaint was filed against the Company and its CEO, John G. Melo, in the U.S. District Court for the Northern District of California. In October 2013, the lead plaintiffs filed a consolidated amended complaint. The complaint, as amended, seeks unspecified damages on behalf of a purported class that would comprise all individuals who acquired the Company's common stock between April 29, 2011 and February 8, 2012. The complaint alleges securities law violations based on the Company's commercial projections during that period. The Company believes the complaint lacks merit, and intends to defend itself vigorously. Because the case is at a very early stage and no specific monetary demand has been made, it is not possible for us to estimate the potential loss or range of potential losses for the case. | ||||||||||||
In August 2013, a complaint entitled Steve Shannon, derivatively on behalf of Amyris, Inc. v. John G. Melo et al and Amyris, Inc., was filed against the Company as nominal defendant in the United States District Court for the Northern District of California. The lawsuit seeks unspecified damages on behalf of the Company from certain of its current and former officers, directors and employees and alleges these defendants breached their fiduciary duties to the Company and unjustly enriched themselves by making allegedly false and misleading statements and omitting certain material facts in our securities filings. Because this purported stockholder derivative action is based on substantially the same facts as the securities class action described above, the two actions have been related and will be heard by the same judge. The Company does not believe the claims in the complaint have merit, and intends to defend itself vigorously. Because the case is at a very early stage and no specific monetary demand has been made, it is not possible to estimate the potential loss or range of potential losses for the case. | ||||||||||||
The Company is subject to disputes and claims that arise or have arisen in the ordinary course of business and that have not resulted in legal proceedings or have not been fully adjudicated. Such matters that may arise in the ordinary course of business are subject to many uncertainties and outcomes are not predictable with assurance. Therefore, if one or more of these legal disputes or claims resulted in settlements or legal proceedings that were resolved against the Company for amounts in excess of management’s expectations, the Company’s consolidated financial statements for the relevant reporting period could be materially adversely affected. |
Debt
Debt | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
Debt | ' | |||||||||||||||
Debt | ||||||||||||||||
Debt is comprised of the following (in thousands): | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Credit facilities | $ | 9,750 | $ | 12,409 | ||||||||||||
Notes payable | — | 1,572 | ||||||||||||||
Convertible notes | 25,000 | 25,000 | ||||||||||||||
Related party convertible notes | 58,091 | 39,033 | ||||||||||||||
Loans payable | 25,997 | 26,150 | ||||||||||||||
Total debt | 118,838 | 104,164 | ||||||||||||||
Less: current portion | (5,448 | ) | (3,325 | ) | ||||||||||||
Long-term debt | $ | 113,390 | $ | 100,839 | ||||||||||||
FINEP Credit Facility | ||||||||||||||||
In November 2010, the Company entered into the FINEP Credit Facility. The FINEP Credit Facility was extended to partially fund expenses related to the Company’s research and development project on sugarcane-based biodiesel (“FINEP Project”) and provided for loans of up to an aggregate principal amount of R$6.4 million (approximately US$2.9 million based on the exchange rate as of September 30, 2013) which is secured by a chattel mortgage on certain equipment of the Company as well as by bank letters of guarantee. All available credit under this facility has been fully drawn. | ||||||||||||||||
Interest on loans drawn under the FINEP Credit Facility is fixed at 5% per annum. In case of default under or non-compliance with the terms of the agreement, the interest on loans will be dependent on the long-term interest rate as published by the Central Bank of Brazil (such rate, the “TJLP”). If the TJLP at the time of default is greater than 6%, then the interest will be 5% plus a TJLP adjustment factor, otherwise the interest will be at 11% per annum. In addition, a fine of up to 10% shall apply to the amount of any obligation in default. Interest on late balances will be 1% interest per month, levied on the overdue amount. Payment of the outstanding loan balance is being made in 81 monthly installments, which commenced in July 2012 and extends through March 2019. Interest on loans drawn and other charges are paid on a monthly basis and commenced in March 2011. As of September 30, 2013 and December 31, 2012, the total outstanding loan balance under this credit facility was R$5.5 million (approximately US$2.5 million based on the exchange rate as of September 30, 2013) and R$6.4 million (approximately US$3.1 million based on the exchange rate as of December 31, 2012), respectively. | ||||||||||||||||
The FINEP Credit Facility contains the following significant terms and conditions: | ||||||||||||||||
• | The Company was required to share with FINEP the costs associated with the FINEP Project. At a minimum, the Company was required to contribute from its own funds approximately R$14.5 million (approximately US$6.5 million based on the exchange rate as of September 30, 2013) of which R$11.1 million was to be contributed prior to the release of the second disbursement. All four disbursements were completed and the Company has fulfilled all of its cost sharing obligations; | |||||||||||||||
• | After the release of the first disbursement, prior to any subsequent drawdown from the FINEP Credit Facility, the Company was required to provide bank letters of guarantee of up to R$3.3 million in aggregate (approximately US$1.5 million based on the exchange rate as of September 30, 2013). On December 17, 2012 and prior to release of the second disbursement on December 26, 2012, the Company obtained the required bank letter of guarantees from ABC Bank; | |||||||||||||||
• | Amounts disbursed under the FINEP Credit Facility were required to be used by the Company towards the FINEP Project within 30 months after the contract execution. | |||||||||||||||
BNDES Credit Facility | ||||||||||||||||
In December 2011, the Company entered into the BNDES Credit Facility in the amount of R$22.4 million (approximately US$10.0 million based on the exchange rate at September 30, 2013). This BNDES Credit Facility was extended as project financing for a production site in Brazil. The credit line is divided into an initial tranche for up to approximately R$19.1 million (approximately US$8.6 million based on the exchange rate at September 30, 2013) and an additional tranche of approximately R$3.3 million (approximately US$1.5 million based on the exchange rate at September 30, 2013) to become available upon delivery of additional guarantees. The credit line was available for 12 months from the date of the Credit Facility, subject to extension by the lender. | ||||||||||||||||
The principal of the loans under the BNDES Credit Facility was required to be repaid in 60 monthly installments, with the first installment due in January 2013 and the last due in December 2017. Interest was due initially on a quarterly basis with the first installment due in March 2012. From and after January 2013, interest payments are due on a monthly basis together with principal payments. The loaned amounts carry interest of 7% per annum. Additionally, there is a credit reserve charge of 0.1% on the unused balance from each credit installment from the day immediately after it is made available through its date of use, when it is paid. | ||||||||||||||||
The BNDES Credit Facility is collateralized by a first priority security interest in certain of the Company's equipment and other tangible assets totaling R$24.9 million (approximately US$11.2 million based on the exchange rate as of September 30, 2013). The Company is a parent guarantor for the payment of the outstanding balance under the BNDES Credit Facility. Additionally, the Company was required to provide a bank guarantee equal to 10.0% of the total approved amount (R$22.4 million in total debt) available under this Credit Facility. For advances of the second tranche (above R$19.1 million), the Company is required to provide additional bank guarantees equal to 90.0% of each such advance, plus additional Company guarantees equal to at least 130.0% of such advance. The BNDES Credit Facility contains customary events of default, including payment failures, failure to satisfy other obligations under this credit facility or related documents, defaults in respect of other indebtedness, bankruptcy, insolvency and inability to pay debts when due, material judgments, and changes in control of Amyris Brasil. If any event of default occurs, the Lender may terminate its commitments and declare immediately due all borrowings under the facility. As of September 30, 2013 and December 31, 2012, the Company had R$16.2 million (approximately US$7.3 million based on the exchange rate as of September 30, 2013) and R$19.1 million (approximately US$9.3 million based on the exchange rate as of December 31, 2012), respectively, in outstanding advances under the BNDES Credit Facility. | ||||||||||||||||
Notes Payable | ||||||||||||||||
During the period between May 2008 and October 2008, the Company entered into notes payable agreements with the lessor of its headquarters under which it borrowed a total of $3.3 million for the purchase of tenant improvements, bearing an interest rate of 9.5% per annum and to be repaid over a period of 55 to 120 months. As of September 30, 2013 and December 31, 2012, a principal amount of zero and $1.6 million, respectively, was outstanding under these notes payable. In June 2013, as part of the April 30, 2013 Amendment to the Company's operating lease for its headquarters, the Company recorded the elimination of these notes payable as a lease incentive and recorded approximately $1.4 million to deferred rent liability in the condensed consolidated balance sheet. The deferred rent liability is being amortized to expense over the remaining lease term. | ||||||||||||||||
Convertible Notes | ||||||||||||||||
In February 2012, the Company completed the sale of senior unsecured convertible promissory notes in an aggregate principal amount of $25.0 million pursuant to a securities purchase agreement, between the Company and certain investment funds affiliated with Fidelity Investments Institutional Services Company, Inc. (the "Fidelity Securities Purchase Agreement"). The offering consisted of the sale of 3.0% senior unsecured convertible promissory notes with a March 1, 2017 maturity date and an initial conversion price equal to $7.0682 per share of the Company's common stock, subject to proportional adjustment for adjustments to outstanding common stock and anti-dilution provisions in case of dividends and distributions (the "Fidelity Notes"). As of September 30, 2013, the Fidelity Notes were convertible into an aggregate of up to 3,536,968 shares of the Company's common stock. The note holders have a right to require repayment of 101% of the principal amount of the Fidelity Notes in an acquisition of the Company, and the notes provide for payment of unpaid interest on conversion following such an acquisition if the note holders do not require such repayment. The Fidelity Securities Purchase Agreement and Fidelity Notes include covenants regarding payment of interest, maintaining the Company's listing status, limitations on debt, maintenance of corporate existence, and filing of SEC reports. The Fidelity Notes include standard events of default resulting in acceleration of indebtedness, including failure to pay, bankruptcy and insolvency, cross-defaults, material adverse effect clauses and breaches of the covenants in the Fidelity Securities Purchase Agreement and Fidelity Notes, with default interest rates and associated cure periods applicable to the covenant regarding SEC reporting. Furthermore, the Fidelity Notes include restrictions on the amount of debt the Company is permitted to incur. With exceptions for certain existing debt, refinancing of such debt and certain other exclusions and waivers, the Fidelity Notes provide that the Company's total outstanding debt at any time cannot exceed the greater of $200.0 million or 50% of its consolidated total assets and its secured debt cannot exceed the greater of $125.0 million or 30% of its consolidated total assets. In connection with the Company’s closing of a short-term bridge loan for $35.0 million in October 2013, holders of the Fidelity Notes waived compliance with the debt limitations outlined above as to the $35.0 million bridge loan and the August 2013 Financing. In consideration for such waiver, the Company granted to holders of the Fidelity Notes or their affiliates, the right to purchase up to an aggregate of $7.6 million worth of convertible promissory notes in the first tranche of the August 2013 Financing. As of September 30, 2013 and December 31, 2012, a principal amount of $25.0 million and $25.0 million, respectively, was outstanding under these notes payable. | ||||||||||||||||
Related Party Convertible Notes | ||||||||||||||||
In July 2012, the Company entered into an agreement with Total that expanded Total's investment in Biofene collaboration with the Company, provided a new structure for a joint venture (the “Fuels JV”) to commercialize the products encompassed by the diesel and jet fuel research and development program (the “Program”), and established a convertible debt structure for the collaboration funding from Total. | ||||||||||||||||
The purchase agreement for the notes related to the funding from Total (the "Total Purchase Agreement") provided for the sale of an aggregate of $105.0 million in notes as follows: | ||||||||||||||||
• | As part of an initial closing under the purchase agreement (which initial closing was completed in two installments), (i) on July 30, 2012, the Company sold a 1.5% Senior Unsecured Convertible Note Due March 2017 to Total in the face amount of $38.3 million, including $15.0 million in new funds and $23.3 million in previously-provided diesel research and development funding by Total, and (ii) on September 14, 2012, the Company sold another note (in the same form) for $15.0 million in new funds from Total. | |||||||||||||||
• | At a second closing under the Total Purchase Agreement (also completed in two installments) the Company sold additional notes for an aggregate of $30 million in new funds from Total ($10.0 million in June 2013 and $20.0 million in July 2013). | |||||||||||||||
• | The Total Purchase Agreement provides that additional notes may be sold in subsequent closings in July 2014 (for cash proceeds to the Company of $21.7 million, which would be settled in an initial installment of $10.85 million payable at such closing and a second installment of $10.85 million payable in January 2015). | |||||||||||||||
The notes issued have a maturity date of March 1, 2017, an initial conversion price equal to $7.0682 per share for the notes issued under the initial closing and an initial conversion price equal $3.08 per share for the notes issued under the second closing. The notes bear interest of 1.5% per annum (with a default rate of 2.5%), accruing from the date of funding and are payable at maturity or on conversion or a change of control where Total exercises the right to require the Company to repay the notes. Accrued interest is cancelled if the notes are cancelled based on a “Go” decision. The agreements contemplate that the research and development efforts under the Program may extend through 2016, with a series of “Go/No Go” decisions by Total through such date tied to funding by Total. | ||||||||||||||||
The notes become convertible into the Company's common stock (i) within 10 trading days prior to maturity (if they are not cancelled as described above prior to their maturity date), (ii) on a change of control of the Company, (iii) if Total is no longer the largest stockholder of the Company following a “No-Go” decision (subject to a six-month lock-up with respect to any shares of common stock issued upon conversion), and (iv) on a default by the Company. If Total makes a final “Go” decision, then the notes will be exchanged by Total for equity interests in the Fuels JV, after which the notes will not be convertible and any obligation to pay principal or interest on the notes will be extinguished. If Total makes a “No-Go” decision, outstanding notes will remain outstanding and become payable at maturity. | ||||||||||||||||
In connection with the December 2012 private placement described below (see Note 10, "Stockholders Equity"), Total elected to participate in the private placement by exchanging approximately $5.0 million of its $53.3 million in senior unsecured convertible promissory notes then outstanding for 1,677,852 of the Company's common stock at a conversion price of $2.98 per share. As such, $5.0 million of the outstanding $53.3 million in senior unsecured convertible promissory notes was cancelled. The cancellation of the debt was treated as an extinguishment of debt in accordance with the guidance outlined in ASC 470-50. | ||||||||||||||||
In March 2013, the Company entered into a letter agreement with Total (the "March 2013 Letter Agreement") under which Total agreed to waive its right to cease its participation in the parties' fuels collaboration at the July 2013 decision point and committed to proceed with the July 2013 funding tranche of $30.0 million (subject to the Company's satisfaction of the relevant closing conditions for such funding in the Total Purchase Agreement). As consideration for this waiver and commitment, the Company agreed to: | ||||||||||||||||
• | Reduce the conversion price for the senior unsecured convertible promissory notes to be issued in connection with such funding from $7.0682 per share to a price per share equal to the greater of (i) the consolidated closing bid price of the Company's common stock on the date of the letter agreement, plus $0.01, and (ii) $3.08 per share, provided that the conversion price would not be reduced by more than the maximum possible amount permitted under the rules of NASDAQ Stock Market ("NASDAQ") such that the new conversion price would require the Company to obtain stockholder consent; and | |||||||||||||||
• | Grant Total a senior security interest in the Company's intellectual property, subject to certain exclusions and subject to release by Total when the Company and Total enter into final documentation regarding the establishment of the Fuels JV. | |||||||||||||||
In addition to the waiver by Total described above, Total also agreed that, at the Company's request and contingent upon the Company meeting its obligations described above, it would pay advance installments of the amounts otherwise payable at the July 2013 closing. Specifically, if the Company requested such advance installments, subject to certain closing conditions and delivery of certifications regarding the Company's cash levels, Total was obligated to fund $10.0 million no later than May 15, 2013, and an additional $10.0 million no later than June 15, 2013, with the remainder to be funded on the original July 2013 closing date. | ||||||||||||||||
In June 2013, the Company sold and issued a 1.5% Senior Unsecured Convertible Note to Total in the face amount of $10.0 million with a March 1, 2017 maturity date pursuant to the Total Purchase Agreement as discussed above. In accordance with the March 2013 Letter Agreement, this convertible note has an initial conversion price equal to $3.08 per share of the Company's common stock. The Company did not request the May advance of $10.0 million, but did request the June advance (as described above), under which this convertible note was issued. | ||||||||||||||||
In July 2013, the Company sold and issued a 1.5% Senior Unsecured Convertible Note to Total in the face amount of $20.0 million with a March 1, 2017 maturity date pursuant to the Total Purchase Agreement as discussed above. This purchase and sale completed Total's commitment to purchase $30.0 million of such notes by July 2013. In accordance with the March 2013 Letter Agreement, this convertible note has an initial conversion price equal to $3.08 per share of Company common stock. | ||||||||||||||||
The conversion prices of the notes issued under the Total Purchase Agreement are subject to adjustment for proportional adjustments to outstanding common stock and under anti-dilution provisions in case of certain dividends and distributions. Total has a right to require repayment of 101% of the principal amount of the notes in the event of a change of control of the Company and the notes provide for payment of unpaid interest on conversion following such a change of control if Total does not require such repayment. The Total Purchase Agreement and notes include covenants regarding payment of interest, maintenance of the Company's listing status, limitations on debt, maintenance of corporate existence, and filing of SEC reports. The notes include standard events of default resulting in acceleration of indebtedness, including failure to pay, bankruptcy and insolvency, cross-defaults, and breaches of the covenants in the purchase agreement and notes, with added default interest rates and associated cure periods applicable to the covenant regarding SEC reporting. Furthermore, the notes include restrictions on the amount of debt the Company is permitted to incur. With exceptions for certain existing debt, refinancing of such debt and certain other exclusions and waivers, the notes provide that the Company's total outstanding debt at any time cannot exceed the greater of $200.0 million or 50% of its consolidated total assets and its secured debt cannot exceed the greater of $125.0 million or 30% of its consolidated total assets. In connection with the Company’s closing of a short-term bridge loan for $35.0 million in October 2013, Total waived compliance with the debt limitations outlined above as to the $35.0 million bridge loan and the August 2013 Financing. As of September 30, 2013 and December 31, 2012, $58.1 million and $39.0 million, respectively, was outstanding under these convertible notes, net of debt discount of $20.2 million and $9.3 million, respectively. The debt discount is the result of the bifurcation of the equity conversion option and "make-whole" provision features associated with outstanding debt. | ||||||||||||||||
In connection with the August 2013 Financing, the Company entered into a Securities Purchase Agreement ("August 2013 SPA") with Total and Temasek to sell up to $73.0 million in convertible promissory notes in private placements, with such notes to be sold and issued over a period of up to 24 months from the date of signing. The August 2013 SPA provided for the August 2013 Financing to be divided into two tranches (the first tranche for $42.6 million and the second tranche for $30.4 million), each with differing closing conditions. Of the total possible purchase price in the financing, $60.0 million was contemplated to be paid in the form of cash by Temasek ($35.0 million in the first tranche and up to $25.0 million in the second tranche) and $13.0 million was contemplated to be paid by the exchange and cancellation of outstanding convertible promissory notes by Total in connection with its exercise of pro rata rights ($7.6 million in the first tranche and $5.4 million in the second tranche). The August 2013 SPA included requirements that the Company meet certain production milestones before the second tranche would become available, obtain stockholder approval prior to completing any closing of the transaction, and issue a warrant to Temasek to purchase 1,000,000 shares of the Company's common stock at an exercise price of $0.01 per share, exercisable only if Total converts preexisting promissory notes with a certain per share conversion price. In September 2013, the Company's stockholders approved the August 2013 Financing. As of September 30, 2013, the first closing of the August 2013 Financing was pending final regulatory approval. | ||||||||||||||||
In October 2013, the Company amended the August 2013 SPA to include an additional cash investor in the first tranche convertible promissory notes in the principal amount of $7.6 million, and to proportionally increase the amount acquired by exchange and cancellation of outstanding convertible promissory notes by Total in connection with its exercise of pro rata rights to $14.6 million (US$9.2 million in the first tranche and up to $5.4 million in the second tranche). The August 2013 Financing closed with respect to the initial tranche of notes in October 2013 (see Note 17, "Subsequent Events"). Additional closing conditions for the second tranche of up to $30.4 million in principal amount of additional convertible promissory notes, which may be issued up to 24 months from the date of the August 2013 SPA, include requirements that prior to any issuance of such notes: (i) a specified Company manufacturing plant has achieved total production of 750,000 liters within a run period of 45 days, (ii) the current chief executive officer or an individual approved by a majority of the purchasers remains chief executive officer of the Company, (iii) there is no material adverse change in the Company’s business and (iv) all security interests held by the purchasers in the Company’s intellectual property shall have been released in full. | ||||||||||||||||
In September 2013, the Company entered into a bridge loan agreement with an existing investor to provide additional cash availability of up to $5.0 million. As of September 30, 2013, the Company had not drawn any funds from the agreement and the facility expired in October 2013 in accordance with its terms. | ||||||||||||||||
Loans Payable | ||||||||||||||||
In December 2009, the Company entered into a loans payable agreement with the lessor of its Emeryville pilot plant under which it borrowed a total of $0.3 million, bearing an interest rate of 10.0% per annum, to be repaid over a period of 96 months. As of September 30, 2013 and December 31, 2012, a principal amount of zero and $0.2 million, respectively, was outstanding under the loan. During the three months ended June 30, 2013, as part of the April 30, 2013 amendment entered into regarding the Company's operating lease for its headquarters, the Company recorded the elimination of this loan payable as a lease incentive and recorded approximately $0.2 million to deferred rent liability in the condensed consolidated balance sheet. The deferred rent liability is being amortized to expense over the remaining lease term. | ||||||||||||||||
In June 2012, the Company entered into a loan agreement with Banco Pine under which Banco Pine provided the Company with the Banco Pine Bridge Loan of R$52.0 million (approximately US$25.6 million based on the exchange rate as of September 30, 2012, the time of loan repayment). The interest rate for the Banco Pine Bridge Loan was 0.4472% monthly (approximately 5.5% on an annualized basis). The principal and interest due under the Banco Pine Bridge Loan matured and were required to be repaid on September 19, 2012, subject to extension by Banco Pine. At the time of the Banco Pine Bridge Loan, the Company entered into a currency interest rate swap arrangement with the lender for R$22.0 million (approximately US$9.9 million based on the exchange rate as of September 30, 2013). The interest rate swap arrangement exchanged the principal and interest payments under the Banco Pine Loan of R$22.0 million entered into in July 2012 for alternative principal and interest payments that were subject to adjustment based on fluctuations in the foreign exchange rate between the U.S. dollar and Brazilian real. The swap had a fixed interest rate of 3.94%. In July 2012, the Company repaid the Banco Pine Bridge Loan. | ||||||||||||||||
In July 2012, the Company entered into a Note of Bank Credit and a Fiduciary Conveyance of Movable Goods Agreement (together, the "July 2012 Bank Agreements") with each of Nossa Caixa and Banco Pine. Under the July 2012 Bank Agreements, the Company pledged certain farnesene production assets as collateral for the loans of R$52.0 million. The Company's total acquisition cost for such pledged assets was approximately R$68.0 million (approximately US$30.5 million based on the exchange rate as of September 30, 2013). The Company is also a parent guarantor for the payment of the outstanding balance under these loan agreements. Under the July 2012 Bank Agreements, the Company could borrow an aggregate of R$52.0 million (approximately US$23.3 million based on the exchange rate as of September 30, 2013) as financing for capital expenditures relating to the Company's manufacturing facility located in Brotas, Brazil. Specifically, Banco Pine agreed to lend R$22.0 million and Nossa Caixa agreed to lend R$30.0 million. The funds for the loans are provided by BNDES, but are guaranteed by the lenders. The loans have a final maturity date of July 15, 2022 and bear a fixed interest rate of 5.5% per year. The loans are also subject to early maturity and delinquency charges upon occurrence of certain events including interruption of manufacturing activities at the Company's manufacturing facility in Brotas, Brazil for more than 30 days, except during sugarcane off-season. For the first two years that the loans are outstanding, the Company is required to pay interest only on a quarterly basis. After August 15, 2014, the Company is required to pay equal monthly installments of both principal and interest for the remainder of the term of the loans. As of September 30, 2013 and December 31, 2012, a principal amount of $23.3 million and $25.4 million, respectively, was outstanding under these loan agreements. | ||||||||||||||||
In October 2012, the Company entered into a loan payable agreement with a lender under which it borrowed $0.6 million to pay the insurance premiums of certain policies. The loan was payable in nine monthly installments of principal and interest. Interest accrued at a rate of 3.24% per annum. As of September 30, 2013 and December 31, 2012, the outstanding unpaid loan balance was zero and $0.4 million, respectively. | ||||||||||||||||
In March 2013, the Company entered into an export financing agreement with ABC Bank for approximately $2.5 million for a one-year term to fund exports through March 2014. This loan is collateralized by future exports from the Company's subsidiary in Brazil. As of September 30, 2013, the principal amount outstanding under this agreement was $2.5 million. | ||||||||||||||||
Letters of Credit | ||||||||||||||||
In June 2012, the Company entered into a letter of credit agreement for $1.0 million under which it provided a letter of credit to the landlord for its headquarters in Emeryville, California in order to cover the security deposit on the lease. This letter of credit is secured by a certificate of deposit. Accordingly, the Company has $1.0 million as restricted cash as of September 30, 2013 and December 31, 2012. | ||||||||||||||||
Future minimum payments under the debt agreements as of September 30, 2013 are as follows (in thousands): | ||||||||||||||||
Years ending December 31: | Related Party Convertible Debt | Convertible Debt | Loans Payable | Credit Facility | ||||||||||||
2013 (Remaining three months) | $ | — | $ | 192 | $ | 492 | $ | 682 | ||||||||
2014 | — | 760 | 5,243 | 2,681 | ||||||||||||
2015 | — | 765 | 4,042 | 2,542 | ||||||||||||
2016 | — | 761 | 3,887 | 2,404 | ||||||||||||
2017 | 83,267 | 25,125 | 3,726 | 2,264 | ||||||||||||
Thereafter | — | — | 15,052 | 579 | ||||||||||||
Total future minimum payments | 83,267 | 27,603 | 32,442 | 11,152 | ||||||||||||
Less: amount representing interest(1) | (25,176 | ) | (2,603 | ) | (6,445 | ) | (1,402 | ) | ||||||||
Present value of minimum debt payments | 58,091 | 25,000 | 25,997 | 9,750 | ||||||||||||
Less: current portion | — | — | (3,286 | ) | (2,162 | ) | ||||||||||
Noncurrent portion of debt | $ | 58,091 | $ | 25,000 | $ | 22,711 | $ | 7,588 | ||||||||
Joint_Ventures_and_Noncontroll
Joint Ventures and Noncontrolling Interest | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Joint Ventures and Noncontrolling Interest [Abstract] | ' | |||||||
Joint Ventures and Noncontrolling Interest | ' | |||||||
Joint Ventures and Noncontrolling Interest | ||||||||
SMA Indústria Química | ||||||||
In April 2010, the Company established SMA Indústria Química ("SMA"), a joint venture with Usina São Martinho, to build a production facility in Brazil. SMA is located at the Usina São Martinho mill in Pradópolis, São Paulo state. The joint venture agreements establishing SMA have a 20 year initial term. | ||||||||
SMA is managed by a three member executive committee, of which the Company appoints two members, one of whom is the plant manager, who is the most senior executive responsible for managing the construction and operation of the facility. SMA is governed by a four member board of directors, of which the Company and Usina São Martinho each appoint two members. The board of directors has certain protective rights which include final approval of the engineering designs and project work plan developed and recommended by the executive committee. | ||||||||
The joint venture agreements provided that the Company would fund the construction costs of the new facility and Usina São Martinho would reimburse the Company up to R$61.8 million (approximately $27.7 million based on the exchange rate as of September 30, 2013) of the construction costs after SMA commences production. After commercialization, the Company would market and distribute Company renewable products produced by SMA and Usina São Martinho would sell feedstock and provide certain other services to SMA. The cost of the feedstock to SMA would be a price that is based on the average return that Usina São Martinho could receive from the production of its current products, sugar and ethanol. The Company would be required to purchase the output of SMA for the first four years at a price that guarantees the return of Usina São Martinho’s investment plus a fixed interest rate. After this four year period, the price would be set to guarantee a break-even price to SMA plus an agreed upon return. | ||||||||
Under the terms of the joint venture agreements, if the Company becomes controlled, directly or indirectly, by a competitor of Usina São Martinho, then Usina São Martinho has the right to acquire the Company’s interest in SMA. If Usina São Martinho becomes controlled, directly or indirectly, by a competitor of the Company, then the Company has the right to sell its interest in SMA to Usina São Martinho. In either case, the purchase price shall be determined in accordance with the joint venture agreements, and the Company would continue to have the obligation to acquire products produced by SMA for the remainder of the term of the supply agreement then in effect even though the Company would no longer be involved in SMA’s management. | ||||||||
The Company has a 50% ownership interest in SMA. The Company has identified SMA as a variable interest entity ("VIE") pursuant to the accounting guidance for consolidating VIEs because the amount of total equity investment at risk is not sufficient to permit SMA to finance its activities without additional subordinated financial support, as well as because the related commercialization agreement provides a substantive minimum price guarantee. Under the terms of the joint venture agreement, the Company directs the design and construction activities, as well as production and distribution. In addition, the Company has the obligation to fund the design and construction activities until commercialization is achieved. Subsequent to the construction phase, both parties equally fund SMA for the term of the joint venture. Based on those factors, the Company was determined to have the power to direct the activities that most significantly impact SMA’s economic performance and the obligation to absorb losses and the right to receive benefits. Accordingly, the financial results of SMA are included in the Company’s condensed consolidated financial statements and amounts pertaining to Usina São Martinho’s interest in SMA are reported as noncontrolling interests in subsidiaries. | ||||||||
Novvi S.A. | ||||||||
In June 2011, the Company entered into joint venture agreements with Cosan Combustíveis e Lubrificantes S.A. and Cosan S.A. Industria e Comércio (such Cosan entities, collectively or individually, “Cosan”), related to the formation of a joint venture to focus on the worldwide development, production and commercialization of base oils made from Biofene for the automotive, commercial and industrial lubricants markets (the "Original JV Agreement"). The parties originally envisioned operating their joint venture through Novvi S.A., a Brazilian entity jointly owned by Cosan and Amyris Brasil. | ||||||||
Under the Original JV Agreement and related agreements, the Company and Cosan each owned 50% of Novvi S.A. and each party would share equally any costs and any profits ultimately realized by Novvi S.A. The joint venture agreement had an initial term of 20 years from the date of the Original JV Agreement, subject to earlier termination by mutual written consent or by a non-defaulting party in the event of specified defaults by the other party. The shareholders' agreement had an initial term of 10 years from the date of the agreement, subject to earlier termination if either the Company or Cosan ceased to own at least 10% of the voting stock of Novvi S.A. Since its formation, Novvi S.A. had minimal operating activities while the Company and Cosan continued to determine and finalize the strategy and operating activities for the joint venture. Upon determination by the Company and Cosan that the joint venture should be operated out of a US entity, the operating activities of Novvi S.A. ceased. The Company has identified that Novvi S.A. is a VIE and determined that the power to direct activities, which most significantly impact the economic success of the joint venture, is equally shared between the Company and Cosan. Accordingly, the Company is not the primary beneficiary and therefore accounts for its investment in Novvi S.A. under the equity method of accounting. | ||||||||
In March 2013, the Company, Amyris Brasil and Cosan entered into a termination agreement to terminate the Original JV Agreement. In addition, Amyris Brasil agreed to sell, its 50% ownership in Novvi S.A. for approximately R$22,000 which represented the current value of its 50% equity ownership in Novvi S.A., a now-dormant company, to Cosan. Upon the consummation of the transaction with the shares transferring from Amyris Brasil to Cosan, the Novvi S.A. shareholders agreement automatically terminated. | ||||||||
Novvi LLC | ||||||||
In September 2011, the Company and Cosan US, Inc. (“Cosan U.S.”) formed Novvi LLC, a U.S. entity that is jointly owned by the Company and Cosan U.S. ("Novvi"). In March 2013 the Company and Cosan U.S. entered into agreements to (i) expand their base oils joint venture to also include additives and lubricants and (ii) operate their joint venture exclusively through Novvi. Specifically, the parties entered into an Amended and Restated Operating Agreement for Novvi (the "Operating Agreement"), which sets forth the governance procedures for Novvi and the joint venture and the parties' initial contribution. The Company also entered into an IP License Agreement with Novvi (the "IP License Agreement") under which the Company granted Novvi (i) an exclusive (subject to certain limited exceptions for the Company), worldwide, royalty-free license to develop, produce and commercialize base oils, additives, and lubricants derived from Biofene for use in automotive and industrial lubricants markets and (ii) a non-exclusive, royalty free license, subject to certain conditions, to manufacture Biofene solely for its own products. In addition, both the Company and Cosan U.S. granted Novvi certain rights of first refusal with respect to alternative base oil and additive technologies that may be acquired by the Company or Cosan U.S. during the term of the IP License Agreement. Under these agreements, the Company and Cosan U.S. will each own 50% of Novvi and each party will share equally in any costs and any profits ultimately realized by the joint venture. Novvi is governed by a six member Board of Managers (the "Board Managers"), with three managers represented by each investor. The Board of Managers appoints the officers of Novvi, who are responsible for carrying out the daily operating activities of Novvi as directed by the Board of Managers. The IP License Agreement has an initial term of 20 years from the date of the agreement, subject to standard early termination provisions such as uncured material breach or a party's insolvency. Under the terms of the Operating Agreement, Cosan U.S. is obligated to fund its 50% ownership share of Novvi in cash in the amount of $10.0 million and the Company is obligated to fund its 50% ownership share of Novvi through the granting of an IP License to develop, produce and commercialize base oils, additives, and lubricants derived from Biofene for use in the automotive, commercial and industrial lubricants markets which has been agreed upon by Cosan U.S. and Amyris valued at $10.0 million. In March 2013, the Company measured its initial contribution of intellectual property to Novvi at the Company's carrying value of the licenses granted under the IP License Agreement, which was zero. Additional funding requirements to finance the ongoing operations of Novvi are expected to happen through revolving credit or other loan facilities provided by unrelated parties (i.e. such as financial institutions); cash advances or other credit or loan facilities provided by the Company and Cosan U.S. or their affiliates; or additional capital contributions by the Company and Cosan U.S. | ||||||||
The Company has identified Novvi as a VIE and determined that the power to direct activities, which most significantly impact the economic success of the joint venture (i.e. continuing research and development, marketing, sales, distribution and manufacturing of Novvi products), is equally shared between the Company and Cosan U.S. Accordingly, the Company is not the primary beneficiary and therefore accounts for its investment in Novvi under the equity method of accounting. The Company will continue to reassess its primary beneficiary analysis of Novvi if there are changes in events and circumstances impacting the power to direct activities that most significantly affect Novvi's economic success. Under the equity method, the Company's share of profits and losses are included in “Income (loss) from equity method investments, net” in the condensed consolidated statements of operations. During the three and nine months ended September 30, 2013, the Company recorded no amounts for its share of Novvi's net loss as the carrying amount of the Company's investment in Novvi was zero and losses in excess of the carrying amount were offset by the accretion of the Company's share in the basis difference resulting from the parties' initial contribution. For both the three months ended September 30, 2013 and 2012, the Company recorded zero and for the nine months ended September 30, 2013 and 2012, the Company recorded $2.6 million and zero, respectively, of revenue from the research and development activities that it has performed on behalf of Novvi. In addition, for the three and nine months ended September 30, 2013, we recognized $1.0 million and $1.1 million in product sales, respectively, from Novvi. | ||||||||
Glycotech | ||||||||
In January 2011, the Company entered into a production service agreement ("Glycotech Agreement") with Glycotech, Inc. ("Glycotech"), under which Glycotech provides process development and production services for the manufacturing of various Company products at its leased facility in Leland, North Carolina. The Company products manufactured by Glycotech are owned and distributed by the Company. Pursuant to the terms of the production Glycotech Agreement, the Company is required to pay the manufacturing and operating costs of the Glycotech facility, which is dedicated solely to the manufacture of Amyris products. The initial term of the Glycotech Agreement was for a two-year period commencing on February 1, 2011 and the Glycotech Agreement renews automatically for successive one-year terms, unless terminated by the Company. Concurrently with the Glycotech Agreement, the Company also entered into a Right of First Refusal Agreement with the lessor of the facility and site leased by Glycotech (the "ROFR Agreement"). Per the conditions of the ROFR Agreement, the lessor agreed not to sell the facility and site leased by Glycotech during the term of the Glycotech Agreement. In the event that the lessor is presented with an offer to sell or decides to sell an adjacent parcel, the Company has the right of first refusal to acquire it. | ||||||||
The Company has determined that the arrangement with Glycotech qualifies as a VIE. The Company determined that it is the primary beneficiary of this arrangement because it has the power through the management committee over which it has majority control to direct the activities that most significantly impact Glycotech's economic performance. In addition, the Company is required to fund 100% of Glycotech's actual operating costs for providing services each month while the facility is in operation under the Glycotech Agreement. Accordingly, the Company consolidates the financial results of Glycotech. As of September 30, 2013, the carrying amounts of the consolidated VIE's assets and liabilities were not material to the Company's condensed consolidated financial statements. | ||||||||
The table below reflects the carrying amount of the assets and liabilities of the two consolidated VIEs for which the Company is the primary beneficiary. As of September 30, 2013, the assets include $22.7 million in property, plant and equipment, $4.1 million in other assets and $0.4 million in current assets. The liabilities include $0.2 million in accounts payable and accrued current liabilities and $0.1 million in loan obligations by Glycotech to its shareholders that are non-recourse to the Company. The creditors of each consolidated VIE have recourse only to the assets of that VIE. | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2013 | 2012 | ||||||
Assets | $ | 27,118 | $ | 29,564 | ||||
Liabilities | $ | 335 | $ | 355 | ||||
The change in noncontrolling interest for the nine months ended September 30, 2013 and 2012 is summarized below (in thousands): | ||||||||
2013 | 2012 | |||||||
Balance at January 1 | $ | (877 | ) | $ | (240 | ) | ||
Foreign currency translation adjustment | 55 | 209 | ||||||
Gain (loss) attributable to noncontrolling interest | 232 | (772 | ) | |||||
Balance at September 30 | $ | (590 | ) | $ | (803 | ) |
Significant_Agreements
Significant Agreements | 9 Months Ended |
Sep. 30, 2013 | |
Significant Agreements [Abstract] | ' |
Significant Agreements | ' |
Significant Agreements | |
Tate & Lyle Termination Agreement | |
In June 2013, the Company and Tate & Lyle entered into a Termination Agreement to terminate the parties’ November 2010 contract manufacturing agreement (the “Contract Manufacturing Agreement”). The Termination Agreement resolves all outstanding issues that had arisen in connection with the Company’s relationship with Tate & Lyle. | |
The Contract Manufacturing Agreement had secured manufacturing capacity for farnesene through 2016 at Tate & Lyle’s facility in Decatur, Illinois. The Contract Manufacturing Agreement included a base monthly payment and a variable payment based on production volume at the Tate & Lyle facility. With the Company’s commencement of production at its farnesene facility located in Brazil, the Company determined that the Contract Manufacturing Agreement was no longer desired from a cost and operational perspective. The Company had no production at the Tate & Lyle facility since the first quarter of 2013. | |
Pursuant to the Termination Agreement, the Company is required to make four payments to Tate & Lyle, totaling approximately $8.8 million, of which $3.6 million is to satisfy outstanding obligations and $5.2 million is in lieu of additional payments otherwise owed under the Contract Manufacturing Agreement. These four payments are due under the Termination Agreement between July 17, 2013 and December 16, 2013, and are deemed to be in full satisfaction of all amounts otherwise owed under the Contract Manufacturing Agreement. Under the Termination Agreement, no further payments will be owed for the remaining term of the Contract Manufacturing Agreement (i.e., through 2016). As a result, the Company recorded a loss of $8.4 million which is included in the loss on purchase commitments and write-off of production assets and consisted of an impairment charge of $6.7 million relating to Company-owned equipment at the Tate & Lyle facility, a $2.7 million write off of an unamortized portion of equipment costs funded by the Company for Tate & Lyle, offset by a reversal of $1.0 million provision for loss on fixed purchase commitments. As of September 30, 2013. the Company had an outstanding liability of $2.6 million pertaining to its obligations under the Termination Agreement. | |
Collaboration Partner Joint Development and License Agreement | |
In April 2013, the Company entered into a joint development and license agreement with a collaboration partner. Under the terms of the multi-year agreement, the collaboration partner and the Company will jointly develop certain fragrance ingredients. The collaboration partner will have exclusive rights to these fragrance ingredients for applications in the flavors and fragrances field, and the Company will have exclusive rights in other fields. The collaboration partner and the Company will share in the economic value derived from these ingredients. The joint development and license agreement provides for up to $6.0 million in funding based upon the achievement of certain technical milestones which are considered substantive by the Company during the first phase of the collaboration. | |
Collaboration Partner Master Collaboration Agreement | |
In March 2013, the Company entered into a Master Collaboration Agreement with a collaboration partner to establish a collaboration for the development and commercialization of multiple renewable flavors and fragrances ("F&F") compounds. Under this agreement, except for rights granted under preexisting collaboration relationships, the Company granted the collaboration partner exclusive access for such compounds to specified Company intellectual property for the development and commercialization of F&F products in exchange for research and development funding and a profit sharing arrangement. The agreement superseded and expanded a prior collaboration agreement between the Company and the collaboration partner. | |
The agreement provides annual up-front funding to the Company by the collaboration partner of $10.0 million for each of the first three years of the collaboration. The initial payment of $10.0 million was received by the Company in March 2013 of which $2.5 million and $5.4 million were recognized as revenue for the three and nine months ended September 30, 2013, respectively. The agreement contemplates additional funding by the collaboration partner of up to $5.0 million under three potential milestone payments, as well as additional funding by the collaboration partner on a discretionary basis. Under the Company's revenue recognition policy for milestone payments, for arrangements that include milestones that are determined to be substantive and at risk at the inception of the arrangement, revenue is recognized upon achievement of the milestone and is limited to those amounts whereby collectability is reasonably assured. | |
In addition, the agreement contemplates that the parties will mutually agree on a supply price for each compound and share product margins from sales of each compound on a 70/30 basis (70% for the collaboration partner) until the collaboration partner receives $15.0 million more than the Company in the aggregate, after which the parties will share 50/50 in the product margins on all compounds. The Company also agreed to pay a one-time success bonus of up to $2.5 million to the collaboration partner for outperforming certain commercialization targets. The collaboration partner eligibility to receive the one-time success bonus commences upon the first sale of the first the collaboration partner's product. | |
The agreement does not impose any specific research and development commitments on either party after year six, but if the parties mutually agree to perform development after year six, the agreement provides that the parties will fund it equally. | |
Under the agreement, the parties jointly select target compounds, subject to final approval of compound specifications by the collaboration partner. During the development phase, the Company is required to provide labor, intellectual property and technology infrastructure and the collaboration partner is required to contribute downstream polishing expertise and market access. The agreement provides that the Company will own research and development and strain engineering intellectual property, and the collaboration partner will own blending and, if applicable, chemical conversion intellectual property. Under certain circumstances such as the Company's insolvency, the collaboration partner gains expanded access to the Company's intellectual property. Following development of F&F compounds under the agreement, the agreement contemplates that the Company will manufacture the initial target molecules for the compounds and the collaboration partner will perform any required downstream polishing, distribution, sales and marketing. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets (Notes) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||||||||
The following table presents the components of the Company's intangible assets (in thousands): | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Useful Life in Years | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | ||||||||||||||||
In-process research and development | Indefinite | $ | 8,560 | $ | — | $ | 8,560 | $ | 8,560 | $ | — | $ | 8,560 | |||||||||
Acquired licenses and permits | 2 | 772 | (772 | ) | — | 772 | (740 | ) | 32 | |||||||||||||
Goodwill | Indefinite | 560 | — | 560 | 560 | 560 | ||||||||||||||||
$ | 9,892 | $ | (772 | ) | $ | 9,120 | $ | 9,892 | $ | (740 | ) | $ | 9,152 | |||||||||
The following table presents the activity of intangible assets for the nine months ended September 30, 2013 (in thousands): | ||||||||||||||||||||||
31-Dec-12 | 30-Sep-13 | |||||||||||||||||||||
Net Carrying Value | Additions | Adjustments | Amortization | Net Carrying Value | ||||||||||||||||||
In-process research and development | $ | 8,560 | $ | — | $ | — | $ | — | $ | 8,560 | ||||||||||||
Acquired licenses and permits | 32 | — | — | (32 | ) | — | ||||||||||||||||
Goodwill | 560 | — | — | — | 560 | |||||||||||||||||
$ | 9,152 | $ | — | $ | — | $ | (32 | ) | $ | 9,120 | ||||||||||||
The intangible assets acquired through the Draths Corporation acquisition in October 2011 of in process research and development of $8.6 million and goodwill of $0.6 million are treated as indefinite lived intangible assets until completion or abandonment of the projects, at which time the assets will be amortized over the remaining useful life or written-off, as appropriate. If the carrying amount of the assets is greater than the measures of fair value, impairment is considered to have occurred and a write-down of the asset is recorded. Any finding that the value of its intangible assets has been impaired would require the Company to write-down the impaired portion, which could reduce the value of its assets and reduce (increase) its net income (loss) for the year in which the related impairment charges occur. As of September 30, 2013 and December 31, 2012 no impairment on the goodwill and intangible assets were recorded. | ||||||||||||||||||||||
Acquired licenses and permits are amortized using a straight-line method over its estimated useful life. Amortization expense for this intangible was zero and $0.1 million for the three months ended September 30, 2013 and 2012, respectively and was $32,000 and $0.3 million for the nine months ended September 30, 2013 and 2012, respectively. As of September 30, 2013, acquired licenses and permits were fully amortized. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity | ' |
Stockholders’ Equity | |
February 2012 Private Placement | |
In February 2012, the Company completed a private placement of 10,160,325 shares of its common stock at a price of $5.78 per share for aggregate proceeds of $58.7 million. In connection with this private placement, the Company entered into an agreement with an investor to purchase additional shares of the Company's common stock for an additional $15.0 million by March 2013 upon satisfaction by the Company of criteria associated with the commissioning of the Company's production plant in Brotas, Brazil. This additional investment was provided by the investor through a $10.0 million investment in a private placement completed by the Company in December 2012 and subsequently, through a $5.0 million investment in a private placement completed by the Company in March 2013. | |
May 2012 Private Placement | |
In May 2012, the Company completed a private placement of 1,736,100 shares of its common stock at a price of $2.36 per share for aggregate proceeds of $4.1 million. | |
December 2012 Private Placement | |
In December 2012, the Company completed a private placement of 14,177,849 shares of its common stock at a price of $2.98 per share for aggregate proceeds of $37.2 million and the cancellation of $5.0 million worth of outstanding senior unsecured convertible promissory notes previously issued to Total by the Company. The Company issued 1,677,852 shares to Total in exchange for this note cancellation. Net cash received for this private placement as of December 31, 2012 was $22.2 million and the remaining $15.0 million of proceeds was received in January 2013. In connection with this transaction, the Company entered into a letter agreement with an investor under which the Company acknowledged that the investor's initial investment of $10.0 million in December 2012 represented partial satisfaction of the investor's preexisting contractual obligation to fund $15.0 million by March 31, 2013 upon satisfaction by the Company of criteria associated with the commissioning of the Company's production plant in Brotas, Brazil. | |
In January 2013, the Company received $15.0 million in proceeds from the private placement offering that closed in December 2012. Consequently, the Company issued 5,033,557 shares of the 14,177,849 shares of the Company's common stock. | |
March 2013 Private Placement | |
In March 2013, the Company completed a private placement of 1,533,742 shares of its common stock at a price of $3.26 per share for aggregate proceeds of $5.0 million. This private placement represented the final tranche of an investor's preexisting contractual obligation to fund $15.0 million upon satisfaction by the Company of certain criteria associated with the commissioning of the Company's production plant in Brotas, Brazil. | |
Evergreen Shares for 2010 Equity Plan and 2010 ESPP | |
On January 23, 2013, the Company's Board of Directors (the "Board") approved an increase to the number of shares available for issuance under the Company's 2010 Equity Incentive Plan (the "Equity Plan") and the 2010 Employee Stock Purchase Plan (the "ESPP"). These shares represent an automatic annual increase in the number of shares available for issuance under the Equity Plan and the ESPP of 3,435,483 and 687,096, respectively, equal to 5% and 1%, respectively, of 68,709,660 shares, the total outstanding shares of the Company’s common stock as of December 31, 2012. This automatic increase was effective as of January 1, 2013. Shares available for issuance under the Equity Plan and ESPP were initially registered on a registration statement on Form S-8 filed with the Securities and Exchange Commission on October 1, 2010 (Registration No. 333-169715). The Company filed registration statements on Form S-8 on March 28, 2013 and May 20, 2013 with respect to the shares added by the automatic increase on January 1, 2013. |
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock-Based Compensation Plans | ' | |||||||||||||||
Stock-Based Compensation | ||||||||||||||||
The Company’s stock option activity and related information for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
Number | Weighted Average | Weighted | Aggregate | |||||||||||||
Outstanding | Exercise | Average | Intrinsic | |||||||||||||
Price | Remaining | Value | ||||||||||||||
Contractual | ||||||||||||||||
Life (Years) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Outstanding - December 31, 2012 | 8,946,592 | $ | 9.07 | 7.5 | $ | 954 | ||||||||||
Options granted | 2,772,130 | $ | 2.83 | |||||||||||||
Options exercised | (193,166 | ) | $ | 0.87 | ||||||||||||
Options cancelled | (2,389,042 | ) | $ | 9.56 | ||||||||||||
Outstanding - September 30, 2013 | 9,136,514 | $ | 7.23 | 7.72 | $ | 71 | ||||||||||
Vested and expected to vest after September 30, 2013 | 8,454,008 | $ | 7.44 | 7.61 | $ | 71 | ||||||||||
Exercisable at September 30, 2013 | 3,950,398 | $ | 9.7 | 6.18 | $ | 71 | ||||||||||
The aggregate intrinsic value of options exercised under all option plans was $0.1 million and $2.0 million for the three months ended September 30, 2013 and 2012, respectively, and was $0.4 million and $2.7 million for the nine months ended September 30, 2013 and 2012, respectively, determined as of the date of option exercise. | ||||||||||||||||
The Company’s restricted stock units ("RSUs") and restricted stock activity and related information for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
RSUs | Weighted Average Grant-Date Fair Value | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||
Outstanding - December 31, 2012 | 2,550,799 | $ | 7.92 | 1.3 | ||||||||||||
Awarded | 1,100,000 | $ | 2.84 | — | ||||||||||||
Vested | (654,619 | ) | $ | 5.91 | — | |||||||||||
Forfeited | (360,995 | ) | $ | 3.92 | — | |||||||||||
Outstanding - September 30, 2013 | 2,635,185 | $ | 4.2 | 1.05 | ||||||||||||
Expected to vest after September 30, 2013 | 2,389,722 | $ | 4.2 | 0.98 | ||||||||||||
The following table summarizes information about stock options outstanding as of September 30, 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Exercise Price | Number of Options | Weighted Average | Weighted Average Exercise Price | Number of Options | Weighted Average Exercise Price | |||||||||||
Remaining Contractual Life | ||||||||||||||||
(Years) | ||||||||||||||||
$0.10—$2.76 | 1,218,972 | 8.34 | $ | 2.63 | 248,047 | $ | 2.31 | |||||||||
$2.79—$2.85 | 964,895 | 9.75 | $ | 2.79 | 68 | $ | 2.85 | |||||||||
$2.87—$2.87 | 917,000 | 9.67 | $ | 2.87 | — | $ | — | |||||||||
$2.89—$3.12 | 918,271 | 9.14 | $ | 2.99 | 204,297 | $ | 3.04 | |||||||||
$3.23—$3.83 | 189,639 | 8.79 | $ | 3.31 | 86,438 | $ | 3.39 | |||||||||
$3.86—$3.86 | 1,045,052 | 8.16 | $ | 3.86 | 416,769 | $ | 3.86 | |||||||||
$3.93—$4.06 | 992,731 | 4.25 | $ | 3.95 | 926,064 | $ | 3.94 | |||||||||
$4.31—$14.28 | 919,609 | 6.11 | $ | 6.8 | 748,254 | $ | 6.38 | |||||||||
$16.00—$19.61 | 942,063 | 7.05 | $ | 16.31 | 600,610 | $ | 16.29 | |||||||||
$20.41—$30.17 | 1,028,282 | 6.84 | $ | 23.86 | 719,851 | $ | 23.62 | |||||||||
$0.10—$30.17 | 9,136,514 | 7.72 | $ | 7.23 | 3,950,398 | $ | 9.7 | |||||||||
Stock-Based Compensation Expense | ||||||||||||||||
Stock-based compensation expense related to options and restricted stock units granted to employees and nonemployees was allocated to research and development expense and sales, general and administrative expense as follows (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Research and development | $ | 1,132 | $ | 1,450 | $ | 3,428 | $ | 4,521 | ||||||||
Sales, general and administrative | 3,301 | 4,515 | 10,183 | 16,879 | ||||||||||||
Total stock-based compensation expense | $ | 4,433 | $ | 5,965 | $ | 13,611 | $ | 21,400 | ||||||||
As of September 30, 2013, there was unrecognized compensation expense of $18.0 million related to stock options, and the Company expects to recognize this expense over a weighted average period of 2.84 years. As of September 30, 2013, there was unrecognized compensation expense of $5.3 million related to RSUs, and the Company expects to recognize this expenses over a weighted average period of 1.59 years. | ||||||||||||||||
Stock-based compensation expense for RSUs is measured based on the closing fair market value of the Company's common stock on the date of grant. Stock-based compensation expense for stock options and employee stock purchase plan rights is estimated at the grant date and offering date, respectively, based on the fair-value using the Black-Scholes option pricing model. The fair value of employee stock options is being amortized on a straight-line basis over the requisite service period of the awards. 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, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Expected dividend yield | — | % | — | % | — | % | — | % | ||||||||
Risk-free interest rate | 1.6 | % | 0.9 | % | 1.4 | % | 1.1 | % | ||||||||
Expected term (in years) | 6.1 | 5.9 | 6.1 | 6 | ||||||||||||
Expected volatility | 81 | % | 79 | % | 82 | % | 76 | % | ||||||||
The fair value of nonemployee stock options was estimated using the following weighted-average assumptions: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Expected dividend yield | — | % | — | % | — | % | — | % | ||||||||
Risk-free interest rate | 1.2 | % | 1.3 | % | 1.4 | % | 1.5 | % | ||||||||
Expected term (in years) | 4 | 6.9 | 5.3 | 7.1 | ||||||||||||
Expected volatility | 81 | % | 79 | % | 82 | % | 77 | % |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
February 2012 Private Placement | |
In February 2012, the Company completed a private placement of 10,160,325 shares of its common stock at a price of $5.78 per share for aggregate proceeds of $58.7 million pursuant to a securities purchase agreement, among the Company and certain existing investors, including Total and Temasek, each a beneficial owner of more than 5% of the Company's existing common stock at the time of the transaction. In addition, members of the Board and certain parties related to such directors participated in the offering. | |
May 2012 Private Placement | |
In May 2012, the Company completed a private placement of 1,736,100 shares of its common stock at a price of $2.36 per share for aggregate proceeds of $4.1 million pursuant to a series of Common Stock Purchase Agreements, among the Company and members of the Board and certain parties related to such directors. | |
March 2013 Private Placement | |
In March 2013, the Company completed a private placement of 1,533,742 shares of its common stock to an existing stockholder, Biolding Investment SA ("Biolding"), at a price of $3.26 per share for aggregate proceeds of $5.0 million. This private placement represented the final tranche of Biolding's preexisting contractual obligation to fund $15.0 million upon satisfaction by the Company of certain criteria associated with the commissioning of the Company's production plant in Brotas, Brazil. | |
Letter Agreement with Total | |
In March 2013, the Company entered into a letter agreement with Total that reduced the conversion price of convertible promissory notes issuable under the Total Purchase Agreement, as described under “Related Party Convertible Notes” in Note 6, "Debt." | |
Related Party Financings | |
In June 2013, the Company sold and issued a 1.5% Senior Unsecured Convertible Note to Total in the face amount of $10.0 million with a March 1, 2017 maturity date pursuant to the Total Purchase Agreement as discussed above under “Related Party Convertible Notes” in Note 6, “Debt." | |
In July 2013, the Company sold and issued a 1.5% Senior Unsecured Convertible Note to Total in the face amount of $20.0 million with a March 1, 2017 maturity date pursuant to the Total Purchase Agreement as discussed above under “Related Party Convertible Notes” in Note 6, “Debt." | |
In August 2013, the Company entered into a securities purchase agreement by and among the Company, Total and Temasek, each a beneficial owner of more than 5% of the Company's existing common stock at the time of the transaction, for a private placement of convertible promissory notes in an aggregate principal amount of $73.0 million (see Note 1, "The Company"). The initial closing of the August 2013 Financing was completed in October 2013 (see Note 17, "Subsequent Events"). | |
In September 2013, the Company entered into a bridge loan agreement with an existing investor to provide additional cash availability of up to $5.0 million as needed before the initial closing of the August 2013 Financing. The Company did not use this facility and it expired in October 2013 in accordance with its terms. | |
In October 2013, the Company sold and issued a senior secured promissory note to Temasek for a bridge loan of $35.0 million. The note was due on February 2, 2014 and accrued interest at a rate of 5.5% each four months from October 4, 2013 (with a rate of 2% per month if a default occurred). The note was cancelled as payment for the investor’s purchase of the first tranche convertible note in the August 2013 Financing. | |
Related Party Revenue | |
The Company recognized related party product sales from Novvi for the three and nine months ended September 30, 2013, of $1.0 million and $1.1 million, respectively. For both the three months ended September 30, 2013 and 2012, the Company recorded zero and for the nine months ended September 30, 2013 and 2012, the Company recorded $2.6 million and zero, respectively, of revenue from the research and development activities that it has performed on behalf of Novvi. The related party accounts receivables from Novvi as of September 30, 2013 and December 31, 2012, was $1.1 million and zero, respectively. | |
As a result of the July 2012 agreements with Total, the Company recognized related party collaboration revenue from Total for the three and nine months ended September 30 2012, of $9.8 million associated with the diesel and jet fuel research and development program. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
For the three months ended September 30, 2013 and 2012, the Company recorded a benefit from income taxes of $1.4 million and provision for income taxes of $0.3 million, respectively, and a benefit from income taxes of $1.0 million and provision for income taxes of $0.8 million for the nine months ended September 30, 2013 and 2012, respectively. In September 2013, the Company entered into a letter agreement with Amyris Brasil Ltda., its wholly owned Brazilian subsidiary, agreeing to convert principal amount of approximately R$89.7 million (US$40.2 million based on the exchange rate as of September 30, 2013) of intercompany loans into equity in Amyris Brasil Ltda. The converted amount excluded accrued interest on the intercompany loan subject to conversion, and therefore the Company is no longer subject to potential withholding taxes on the loan interest. As a result, the Company recorded a tax benefit of approximately $1.6 million related to the reversal of previously accrued withholding taxes. | |
Other than the above mentioned provision for income tax, no additional provision for income taxes has been made, net of the valuation allowance, due to cumulative losses since the commencement of operations. | |
As of September 30, 2013, the US Internal Revenue Service (the "IRS") has completed its audit of the Company for tax year 2008 which concluded that there were no adjustments resulting from the audit. While the statutes are closed for tax year 2008, the US federal tax carryforwards (net operating losses and tax credits) may be adjusted by the IRS in the year in which the carryforward is utilized. | |
In January 2013, the American Taxpayer Relief Act of 2012 (the "ATRA") was enacted. Under prior law, a taxpayer was entitled to a research tax credit for qualifying amounts incurred through December 31, 2011. The ATRA extends the research credit for two years for qualified research expenditures incurred through the end of 2013. The extension of the research credit is retroactive and includes amounts incurred after 2011. The benefit of the reinstated credit did not impact the income statement in the period of enactment, which is the first quarter of 2013, as the research and development credit carryforwards are offset by a full valuation allowance. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
Segment Information | ||||||||||||||||
The chief operating decision maker for the Company is the chief executive officer. The chief executive officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region, for purposes of allocating resources and evaluating financial performance. The Company has one business activity comprised of research and development and sales of fuels and farnesene-derived products and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single reportable segment and operating segment structure. | ||||||||||||||||
Revenues by geography are based on the location of the customer. The following tables set forth revenue and long-lived assets by geographic area (in thousands): | ||||||||||||||||
Revenues | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
United States | $ | 2,037 | $ | 3,905 | $ | 12,060 | $ | 46,807 | ||||||||
Brazil | 1,046 | 1,053 | 3,123 | 2,741 | ||||||||||||
Europe | 2,829 | 12,452 | 7,059 | 15,785 | ||||||||||||
Asia | 1,092 | 1,698 | 3,480 | 2,507 | ||||||||||||
Total | $ | 7,004 | $ | 19,108 | $ | 25,722 | $ | 67,840 | ||||||||
Long-Lived Assets | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
United States(1) | $ | 56,558 | $ | 70,085 | ||||||||||||
Brazil(1) | 82,649 | 91,170 | ||||||||||||||
Europe | 1,511 | 1,866 | ||||||||||||||
Total | $ | 140,718 | $ | 163,121 | ||||||||||||
-1 | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not change previously reported consolidated financial statements. |
Comprehensive_Income_Loss_Note
Comprehensive Income (Loss) (Notes) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Equity [Abstract] | ' | |||||||
Comprehensive Income (Loss) | ' | |||||||
Comprehensive Income (Loss) | ||||||||
Comprehensive income (loss) represents all changes in stockholders’ equity except those resulting from investments or contributions by stockholders. The Company’s foreign currency translation adjustments represent the components of comprehensive income (loss) excluded from the Company’s net loss and have been disclosed in the condensed consolidated statements of comprehensive loss for all periods presented. | ||||||||
The components of accumulated other comprehensive loss are as follows (in thousands): | ||||||||
30-Sep-13 | 31-Dec-12 | |||||||
Foreign currency translation adjustment, net of tax | $ | (16,961 | ) | $ | (12,807 | ) | ||
Total accumulated other comprehensive loss | $ | (16,961 | ) | $ | (12,807 | ) |
Net_Loss_Attributable_to_Commo
Net Loss Attributable to Common Stockholders and Net Loss per Share (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Loss Attributable to Common Stockholders and Net Loss per Share | ' | |||||||||||||||
Net Loss Attributable to Common Stockholders and Net Loss per Share | ||||||||||||||||
The Company computes net loss per share in accordance with ASC 260, “Earnings per Share.” Basic net loss per share of common stock is computed by dividing the Company’s net loss attributable to Amyris, Inc. common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share of common stock is computed by giving effect to all potentially dilutive securities, including stock options, restricted stock units, common stock warrants, using the treasury stock method or the as converted method, as applicable. For all periods presented, basic net loss per share was the same as diluted net loss per share because the inclusion of all potentially dilutive securities outstanding was anti-dilutive. As such, the numerator and the denominator used in computing both basic and diluted net loss are the same for each period presented. | ||||||||||||||||
The following table presents the calculation of basic and diluted net loss per share of common stock attributable to Amyris, Inc. common stockholders (in thousands, except share and per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator: | ||||||||||||||||
Net loss attributable to Amyris, Inc. common stockholders | $ | (24,199 | ) | $ | (20,293 | ) | $ | (95,689 | ) | $ | (161,647 | ) | ||||
Denominator: | ||||||||||||||||
Weighted average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted | 76,205,853 | 58,964,226 | 75,167,877 | 55,552,949 | ||||||||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.32 | ) | $ | (0.34 | ) | $ | (1.27 | ) | $ | (2.91 | ) | ||||
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been anti-dilutive: | ||||||||||||||||
Three and Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Period-end stock options to purchase common stock | 9,136,514 | 8,345,400 | ||||||||||||||
Convertible promissory notes | 20,110,650 | 11,077,785 | ||||||||||||||
Period-end common stock subject to repurchase | 1 | 301 | ||||||||||||||
Period-end common stock warrants | 21,087 | 21,087 | ||||||||||||||
Period-end restricted stock units | 2,635,185 | 1,712,899 | ||||||||||||||
Total | 31,903,437 | 21,157,472 | ||||||||||||||
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
Total Amendment Agreement | |
In October 2013, the Company entered into a letter agreement with Total relating to the Temasek Bridge Note and to the closing of the August 2013 Financing (the "Amendment Agreement"). In the August 2013 Financing, the Company was required to provide the purchasers under the August 2013 SPA with a security interest in the Company’s intellectual property if Total still held such security interest as of the initial closing of the August 2013 Financing. Under the terms of a previous Intellectual Property Security Agreement by and between the Company and Total (the "Security Agreement"), the Company had previously granted a security interest in favor of Total to secure the obligations of the Company under certain convertible promissory notes issued and issuable to Total under the Company’s purchase agreement with Total Purchase Agreement. The Security Agreement provides that such security interest will terminate if Total and the Company enter into certain agreements relating to the formation of the Fuels JV. To induce Total to (i) permit the Company to grant the security interest under the Temasek Bridge Note and the August 2013 Financing and (ii) waive a secured debt limitation contained in the outstanding convertible promissory notes held by Total (the “Total Securities”), the Company entered into the Amendment Agreement. Under the Amendment Agreement, the Company agreed to reduce, effective December 2, 2013, the conversion price for the Total Securities issued in 2012 (approximately $48.3 million of which are outstanding as of the date hereof) from $7.0682 per share to $2.20, the market price per share of the Company’s Common Stock as of the signing of the Amendment Agreement, as determined in accordance with applicable NASDAQ rules, unless the Company and Total enter into the JV Agreements on or prior to December 2, 2013. | |
Related Party Financings | |
In October 2013, the Company sold and issued the Temasek Bridge Note to Temasek for a bridge loan of $35.0 million. The Temasek Bridge Note was due on February 2, 2014 and accrued interest at a rate of 5.5% each four months from October 4, 2013. The note was cancelled on October 16, 2013 as payment for Temasek’s purchase of the first tranche convertible note in the August 2013 Financing. | |
In October 2013, the Company amended the August 2013 SPA (see Note 1, "The Company") to include an additional cash investor in the first tranche convertible promissory notes in the principal amount of $7.6 million, and to proportionally increase the amount acquired through pro rata rights to $14.6 million ($9.2 million in the first tranche and up to $5.4 million in the second tranche). Also in October 2013, the Company completed the closing of the first tranche of the August 2013 Financing, issuing a total of $51.8 million in convertible promissory notes (the “Tranche I Notes”) for cash proceeds of $7.6 million and cancellation of outstanding convertible promissory notes of $44.2 million, of which $35.0 million resulted from cancellation of the Temasek Bridge Note. The Tranche I Notes are due sixty months from the date of issuance and will be convertible into the Company’s common stock at a conversion price equal to $2.44, subject to adjustment as described below. The Tranche I Notes are convertible at the option of the holder: (i) at any time after 18 months from the date of the August 2013 SPA, (ii) on a change of control of the Company and (iii) upon the occurrence of an event of default. The conversion price of the Tranche I Notes will be reduced to $2.15 if a specified Company manufacturing plant fails to achieve a total production of 1.0 million liters within a run period of 45 days prior to June 30, 2014, the Company fails to achieve gross margins from product sales of at least 5% prior to June 30, 2014, or the Company reduces the conversion price of certain existing promissory notes held by Total prior to the repayment or conversion of the Tranche I Notes. If either of the production and margin milestones occur, and in addition, the Company reduces the conversion price of certain existing promissory notes held by Total prior to the repayment or conversion of the Tranche I Notes, the conversion price of the Tranche I Notes will be reduced to $1.87. Each Tranche I Note accrues interest from the date of issuance until the earlier of the date that such Tranche I Note is converted into the Company’s common stock or is repaid in full. Interest accrues at a rate of 5% per six months, compounded semiannually (with graduated interest rates of 6.5% applicable to the first 180 days and 8% applicable thereafter as the sole remedy should the Company fail to maintain NASDAQ listing status or at 6.5% for all other defaults). Interest for the first 30 months is payable in kind and added to the principal every six-months and thereafter, the Company may continue to pay interest in kind by adding to the principal every six-months or may elect to pay interest in cash. The Tranche I Notes may be prepaid by the Company after 30 months from the issuance date and initial interest payment; thereafter the Company has the option to prepay the Tranche I Notes every six months at the date of payment of the semi-annual coupon. | |
The convertible promissory notes issuable in the second tranche of the August 2013 Financing (the “Tranche II Notes”) would be due 5 years after the date of the issuance of the first Tranche II Notes and would be subject to a conversion price equal to $2.87, subject to adjustment as described below. Specifically, the Tranche II Notes would be convertible at the option of the holder (i) at any time 12 months after issuance, (ii) on a change of control of the Company, and (iii) upon the occurrence of an event of default. Each Tranche II Notes will accrue interest from the date of issuance until the earlier of the date that such Tranche II Notes is converted into the Company's common stock or repaid in full. Interest will accrue at a rate per annum equal to 10%, compounded annually (with graduated interest rates of 13% applicable to the first 180 days and 16% applicable thereafter as the sole remedy should the Company fail to maintain NASDAQ listing status or at a rate equal to 12% for all other defaults). Interest for the first 36 months shall be payable in kind and added to the principal every year following the issue date and thereafter, the Company may continue to pay interest in kind by adding to the principal on every year anniversary of the issue date or may elect to pay interest in cash. | |
In addition to the conversion price adjustments set forth above, the conversion prices of the Tranche I Notes and Tranche II Notes are subject to further adjustment (i) according to proportional adjustments to outstanding common stock of the Company in case of certain dividends and distributions, (ii) according to anti-dilution provisions, and (iii) with respect to notes held by any purchaser other than Total, in the event that Total exchanges existing convertible notes for new securities of the Company in connection with future financing transactions in excess of its pro rata amount. Notwithstanding the foregoing, holders of a majority of the principal amount of the notes outstanding at the time of conversion may waive any anti-dilution adjustments to the conversion price. The purchasers have a right to require repayment of 101% of the principal amount of the notes in the event of a change of control of the Company and the notes provide for payment of unpaid interest on conversion following such a change of control if the purchasers do not require such repayment. The August 2013 SPA, Tranche I Notes and Tranche II Notes include covenants regarding payment of interest, maintenance of the Company’s listing status, limitations on debt and on certain liens, maintenance of corporate existence, and filing of SEC reports. The notes include standard events of default resulting in acceleration of indebtedness, including failure to pay, bankruptcy and insolvency, cross-defaults, and breaches of the covenants in the August 2013 SPA, Tranche I Notes and Tranche II Notes, with default interest rates and associated cure periods applicable to the covenant regarding SEC reporting. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation | |
The accompanying interim condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions for Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and notes required for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 28, 2013. The unaudited condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | |
Unaudited Interim Financial Information | |
The accompanying interim condensed consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. | |
Use of Estimates [Policy Text Block] | ' |
Use of Estimates | |
In preparing the unaudited condensed consolidated financial statements, management must make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
In December 2011, the International Accounting Standards Board and the Financial Accounting Standards Board ("FASB") issued common disclosure requirements that are intended to enhance comparability between financial statements prepared on the basis of GAAP and those prepared in accordance with International Financial Reporting Standards. In January 2013, the FASB issued an accounting standard update to limit the scope of the new balance sheet offsetting disclosures to derivative instruments, repurchase agreements, and securities lending transactions to the extent that they are offset in the financial statement or subject to an enforceable master netting arrangement or similar arrangement. While this guidance does not change existing offsetting criteria in GAAP or the permitted balance sheet presentation for items meeting the criteria, it requires an entity to disclose both net and gross information about assets and liabilities that have been offset and the related arrangements. Required disclosures under this new guidance should be provided retrospectively for all comparative periods presented. This new guidance is effective for fiscal years beginning on or after January 1, 2013, and interim periods within those years. The adoption of this guidance in the Company's first quarter of fiscal year 2013 did not have a material effect on the Company's consolidated financial statements. | |
In July 2012, the FASB issued an amended accounting standard update to simplify how entities test indefinite-lived intangible assets for impairment which improve consistency in impairment testing requirements among long-lived asset categories. The amended guidance permits an assessment of qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying value. For assets in which this assessment concludes it is more likely than not that the fair value is more than its carrying value, then the amended guidance eliminates the requirement to perform quantitative impairment testing as outlined in the previously issued standards. The amended guidance is effective for fiscal years beginning after September 15, 2012 and early adoption is permitted. The adopted and amended guidance did not have an impact on the Company's consolidated financial statements. | |
In February 2013, in connection with the accounting standard related to the presentation of the statement of comprehensive income, the FASB issued an accounting standard update to improve the reporting of reclassifications out of accumulated other comprehensive income of various components. This guidance requires companies to present either parenthetically on the face of the financial statements or in the notes, significant amounts reclassified from each component of accumulated other comprehensive income and the income statement line items affected by the reclassification. This standard is effective for interim periods and fiscal years beginning after December 15, 2012. The adoption of this guidance in the Company's first quarter of fiscal year 2013 did not have a material effect on the Company's consolidated financial statements. | |
In July 2013, the FASB issued a new accounting standard update on the financial statement presentation of unrecognized tax benefits. The new guidance provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance becomes effective for the Company on January 1, 2014 and will be applied prospectively to unrecognized tax benefits that exist at the effective date with retrospective applications permitted. The Company is currently assessing the impact of this new guidance. |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||
As of September 30, 2013, the Company’s financial assets and financial liabilities are presented below at fair value and were classified within the fair value hierarchy as follows (in thousands): | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance as of | |||||||||||||||
30-Sep-13 | ||||||||||||||||||
Financial Assets | ||||||||||||||||||
Money market funds | $ | 245 | $ | — | $ | — | $ | 245 | ||||||||||
Certificates of deposit | 580 | — | — | 580 | ||||||||||||||
Total financial assets | $ | 825 | $ | — | $ | — | $ | 825 | ||||||||||
Financial Liabilities | ||||||||||||||||||
Loans payable(1) | $ | — | $ | 19,502 | $ | — | $ | 19,502 | ||||||||||
Credit facilities(1) | — | 8,555 | — | 8,555 | ||||||||||||||
Convertible notes(1) | — | — | 88,261 | 88,261 | ||||||||||||||
Compound embedded derivative liability | — | — | 13,836 | 13,836 | ||||||||||||||
Currency interest rate swap derivative liability | — | 3,074 | — | 3,074 | ||||||||||||||
Total financial liabilities | $ | — | $ | 31,131 | $ | 102,097 | $ | 133,228 | ||||||||||
______________ | ||||||||||||||||||
(1) These liabilities are carried on the condensed consolidated balance sheet on a historical cost basis. | ||||||||||||||||||
The Company’s financial assets and financial liabilities as of December 31, 2012 are presented below at fair value and were classified within the fair value hierarchy as follows (in thousands): | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance as of December 31, 2012 | |||||||||||||||
Financial Assets | ||||||||||||||||||
Money market funds | $ | 15,847 | $ | — | $ | — | $ | 15,847 | ||||||||||
Certificates of deposit | 757 | — | — | 757 | ||||||||||||||
Total financial assets | $ | 16,604 | $ | — | $ | — | $ | 16,604 | ||||||||||
Financial Liabilities | ||||||||||||||||||
Notes payable(1) | $ | — | $ | 1,676 | $ | — | $ | 1,676 | ||||||||||
Loans payable(1) | — | 20,707 | — | 20,707 | ||||||||||||||
Credit facilities(1) | — | 11,503 | — | 11,503 | ||||||||||||||
Convertible notes(1) | — | — | 62,522 | 62,522 | ||||||||||||||
Compound embedded derivative liability | — | — | 7,894 | 7,894 | ||||||||||||||
Currency interest rate swap derivative liability | — | 1,367 | — | 1,367 | ||||||||||||||
Total financial liabilities | $ | — | $ | 35,253 | $ | 70,416 | $ | 105,669 | ||||||||||
______________ | ||||||||||||||||||
(1) These liabilities are carried on the condensed consolidated balance sheet on a historical cost basis. | ||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||
The following table provides a reconciliation of the beginning and ending balances for the compound embedded derivative liability measured at fair value using significant unobservable inputs (Level 3) (in thousands): | ||||||||||||||||||
Compound Embedded Derivative Liability | ||||||||||||||||||
Balance at December 31, 2012 | $ | 7,894 | ||||||||||||||||
Transfers in to Level 3 | 13,076 | |||||||||||||||||
Total (gain) losses included in other income (expense), net | (7,134 | ) | ||||||||||||||||
Balance at September 30, 2013 | $ | 13,836 | ||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||||||||
Derivative instruments measured at fair value as of September 30, 2013 and December 31, 2012, and their classification on the condensed consolidated balance sheet and condensed consolidated statements of operations, are presented in the following tables (in thousands except contract amounts): | ||||||||||||||||||
Asset/Liability as of | ||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||
Type of Derivative Contract | Quantity of | Fair Value | Quantity of | Fair Value | ||||||||||||||
Contracts | Contracts | |||||||||||||||||
Currency interest rate swap, included as net liability in other liabilities | 1 | $ | 3,074 | 1 | $ | 1,367 | ||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||||||||
Type of Derivative Contract | Income | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
Statement Classification | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Gain (Loss) Recognized | Gain (Loss) Recognized | |||||||||||||||||
Regulated fixed price futures contracts | Cost of products sold | $ | — | $ | (31 | ) | $ | — | $ | (288 | ) | |||||||
Currency interest rate swap | Other income (expense), net | $ | (137 | ) | $ | 82 | $ | (1,707 | ) | $ | (1,133 | ) | ||||||
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Balance Sheet Components [Abstract] | ' | |||||||||
Schedule of Inventory, Current [Table Text Block] | ' | |||||||||
Inventories | ||||||||||
Inventories are stated at the lower of cost or market and consist of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Raw materials | $ | 1,527 | $ | 1,574 | ||||||
Work-in-process | 5,218 | 1,771 | ||||||||
Finished goods | 1,203 | 2,689 | ||||||||
Inventories, net | $ | 7,948 | $ | 6,034 | ||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | ' | |||||||||
Prepaid and Other Current Assets | ||||||||||
Prepaid and other current assets is comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Advances to contract manufacturers(1) | $ | 10 | $ | 784 | ||||||
Manufacturing catalysts | 1,441 | 1,895 | ||||||||
Recoverable VAT and other taxes | 4,146 | 4,167 | ||||||||
Other | 1,567 | 2,079 | ||||||||
Prepaid and other current assets | $ | 7,164 | $ | 8,925 | ||||||
____ | ||||||||||
-1 | At December 31, 2012, the amount of $0.8 million, relates to the current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. | |||||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||||
Property, Plant and Equipment, net | ||||||||||
Property, plant and equipment, net is comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
Useful Life | 2013 | 2012 | ||||||||
Leasehold improvements | Lesser of remaining useful life or lease term | $ | 39,114 | $ | 39,290 | |||||
Machinery and equipment | 7 - 15 Years | 98,350 | 105,162 | |||||||
Computers and software | 3 - 5 Years | 8,509 | 8,232 | |||||||
Furniture and office equipment | 5 years | 2,520 | 2,467 | |||||||
Buildings | 15 Years | 6,829 | 5,888 | |||||||
Vehicles | 5 years | 465 | 575 | |||||||
Construction in progress | 42,933 | 45,372 | ||||||||
198,720 | 206,986 | |||||||||
Less: accumulated depreciation and amortization | (58,002 | ) | (43,865 | ) | ||||||
Property, plant and equipment, net | $ | 140,718 | $ | 163,121 | ||||||
Schedule of Other Assets, Noncurrent [Table Text Block] | ' | |||||||||
Other Assets | ||||||||||
Other assets are comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Deposits on property and equipment, including taxes | $ | 2,137 | $ | 2,363 | ||||||
Advances to contract manufacturers, net of current portion(1) | — | 2,222 | ||||||||
Recoverable taxes on purchased property, plant and equipment and inventory(2) | 15,609 | 13,597 | ||||||||
Other | 1,979 | 1,930 | ||||||||
Total other assets | $ | 19,725 | $ | 20,112 | ||||||
_________ | ||||||||||
(1) | At December 31, 2012, the amount of $2.2 million relates to the non-current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. | |||||||||
(2) | At September 30, 2013 and December 31, 2012, the amounts of $15.6 million and $13.6 million, respectively, are recoverable taxes from Brazilian governmental entities. | |||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||||
Accrued and Other Current Liabilities | ||||||||||
Accrued and other current liabilities are comprised of the following (in thousands): | ||||||||||
September 30, | December 31, | |||||||||
2013 | 2012 | |||||||||
Professional services | $ | 2,859 | $ | 824 | ||||||
Accrued vacation | 2,179 | 2,673 | ||||||||
Payroll and related expenses | 5,099 | 5,809 | ||||||||
Tax-related liabilities | 641 | 851 | ||||||||
Deferred rent, current portion | 1,111 | 1,448 | ||||||||
Accrued interest(1) | 1,435 | 965 | ||||||||
Contractual obligations to contract manufacturers, current | 5,868 | 9,952 | ||||||||
Customer advances | 372 | 970 | ||||||||
Other(1) | 741 | 918 | ||||||||
Total accrued and other current liabilities | $ | 20,305 | $ | 24,410 | ||||||
__________ | ||||||||||
(1) | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not materially change previously reported consolidated financial statements. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
Schedule of Future Minimum Payments For Lease Obligations [Table Text Block] | ' | |||||||||||
Future minimum payments under the Company's lease obligations as of September 30, 2013, are as follows (in thousands): | ||||||||||||
Years ending December 31: | Capital | Operating | Total Lease Obligations | |||||||||
Leases | Leases | |||||||||||
2013 (Remaining Three Months) | $ | 274 | $ | 1,477 | $ | 1,751 | ||||||
2014 | 1,007 | 6,277 | 7,284 | |||||||||
2015 | 289 | 6,581 | 6,870 | |||||||||
2016 | — | 6,595 | 6,595 | |||||||||
2017 | — | 6,585 | 6,585 | |||||||||
Thereafter | — | 38,973 | 38,973 | |||||||||
Total future minimum lease payments | 1,570 | $ | 66,488 | $ | 68,058 | |||||||
Less: amount representing interest | (75 | ) | ||||||||||
Present value of minimum lease payments | 1,495 | |||||||||||
Less: current portion | (1,031 | ) | ||||||||||
Long-term portion | $ | 464 | ||||||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Debt [Table Text Block] | ' | |||||||||||||||
Debt is comprised of the following (in thousands): | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Credit facilities | $ | 9,750 | $ | 12,409 | ||||||||||||
Notes payable | — | 1,572 | ||||||||||||||
Convertible notes | 25,000 | 25,000 | ||||||||||||||
Related party convertible notes | 58,091 | 39,033 | ||||||||||||||
Loans payable | 25,997 | 26,150 | ||||||||||||||
Total debt | 118,838 | 104,164 | ||||||||||||||
Less: current portion | (5,448 | ) | (3,325 | ) | ||||||||||||
Long-term debt | $ | 113,390 | $ | 100,839 | ||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||||||||||
Future minimum payments under the debt agreements as of September 30, 2013 are as follows (in thousands): | ||||||||||||||||
Years ending December 31: | Related Party Convertible Debt | Convertible Debt | Loans Payable | Credit Facility | ||||||||||||
2013 (Remaining three months) | $ | — | $ | 192 | $ | 492 | $ | 682 | ||||||||
2014 | — | 760 | 5,243 | 2,681 | ||||||||||||
2015 | — | 765 | 4,042 | 2,542 | ||||||||||||
2016 | — | 761 | 3,887 | 2,404 | ||||||||||||
2017 | 83,267 | 25,125 | 3,726 | 2,264 | ||||||||||||
Thereafter | — | — | 15,052 | 579 | ||||||||||||
Total future minimum payments | 83,267 | 27,603 | 32,442 | 11,152 | ||||||||||||
Less: amount representing interest(1) | (25,176 | ) | (2,603 | ) | (6,445 | ) | (1,402 | ) | ||||||||
Present value of minimum debt payments | 58,091 | 25,000 | 25,997 | 9,750 | ||||||||||||
Less: current portion | — | — | (3,286 | ) | (2,162 | ) | ||||||||||
Noncurrent portion of debt | $ | 58,091 | $ | 25,000 | $ | 22,711 | $ | 7,588 | ||||||||
(1) Including debt discount of $20.2 million associated with the related party convertible debt. |
Joint_Ventures_and_Noncontroll1
Joint Ventures and Noncontrolling Interest (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Joint Ventures and Noncontrolling Interest [Abstract] | ' | |||||||
Schedule of Variable Interest Entities [Table Text Block] | ' | |||||||
The table below reflects the carrying amount of the assets and liabilities of the two consolidated VIEs for which the Company is the primary beneficiary. As of September 30, 2013, the assets include $22.7 million in property, plant and equipment, $4.1 million in other assets and $0.4 million in current assets. The liabilities include $0.2 million in accounts payable and accrued current liabilities and $0.1 million in loan obligations by Glycotech to its shareholders that are non-recourse to the Company. The creditors of each consolidated VIE have recourse only to the assets of that VIE. | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2013 | 2012 | ||||||
Assets | $ | 27,118 | $ | 29,564 | ||||
Liabilities | $ | 335 | $ | 355 | ||||
Noncontrolling Interest [Table Text Block] | ' | |||||||
The change in noncontrolling interest for the nine months ended September 30, 2013 and 2012 is summarized below (in thousands): | ||||||||
2013 | 2012 | |||||||
Balance at January 1 | $ | (877 | ) | $ | (240 | ) | ||
Foreign currency translation adjustment | 55 | 209 | ||||||
Gain (loss) attributable to noncontrolling interest | 232 | (772 | ) | |||||
Balance at September 30 | $ | (590 | ) | $ | (803 | ) |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | |||||||||||||||||||||
The following table presents the components of the Company's intangible assets (in thousands): | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Useful Life in Years | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | ||||||||||||||||
In-process research and development | Indefinite | $ | 8,560 | $ | — | $ | 8,560 | $ | 8,560 | $ | — | $ | 8,560 | |||||||||
Acquired licenses and permits | 2 | 772 | (772 | ) | — | 772 | (740 | ) | 32 | |||||||||||||
Goodwill | Indefinite | 560 | — | 560 | 560 | 560 | ||||||||||||||||
$ | 9,892 | $ | (772 | ) | $ | 9,120 | $ | 9,892 | $ | (740 | ) | $ | 9,152 | |||||||||
The following table presents the activity of intangible assets for the nine months ended September 30, 2013 (in thousands): | ||||||||||||||||||||||
31-Dec-12 | 30-Sep-13 | |||||||||||||||||||||
Net Carrying Value | Additions | Adjustments | Amortization | Net Carrying Value | ||||||||||||||||||
In-process research and development | $ | 8,560 | $ | — | $ | — | $ | — | $ | 8,560 | ||||||||||||
Acquired licenses and permits | 32 | — | — | (32 | ) | — | ||||||||||||||||
Goodwill | 560 | — | — | — | 560 | |||||||||||||||||
$ | 9,152 | $ | — | $ | — | $ | (32 | ) | $ | 9,120 | ||||||||||||
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | ' | |||||||||||||||
The Company’s stock option activity and related information for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
Number | Weighted Average | Weighted | Aggregate | |||||||||||||
Outstanding | Exercise | Average | Intrinsic | |||||||||||||
Price | Remaining | Value | ||||||||||||||
Contractual | ||||||||||||||||
Life (Years) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Outstanding - December 31, 2012 | 8,946,592 | $ | 9.07 | 7.5 | $ | 954 | ||||||||||
Options granted | 2,772,130 | $ | 2.83 | |||||||||||||
Options exercised | (193,166 | ) | $ | 0.87 | ||||||||||||
Options cancelled | (2,389,042 | ) | $ | 9.56 | ||||||||||||
Outstanding - September 30, 2013 | 9,136,514 | $ | 7.23 | 7.72 | $ | 71 | ||||||||||
Vested and expected to vest after September 30, 2013 | 8,454,008 | $ | 7.44 | 7.61 | $ | 71 | ||||||||||
Exercisable at September 30, 2013 | 3,950,398 | $ | 9.7 | 6.18 | $ | 71 | ||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||||||||||
The Company’s restricted stock units ("RSUs") and restricted stock activity and related information for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
RSUs | Weighted Average Grant-Date Fair Value | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||
Outstanding - December 31, 2012 | 2,550,799 | $ | 7.92 | 1.3 | ||||||||||||
Awarded | 1,100,000 | $ | 2.84 | — | ||||||||||||
Vested | (654,619 | ) | $ | 5.91 | — | |||||||||||
Forfeited | (360,995 | ) | $ | 3.92 | — | |||||||||||
Outstanding - September 30, 2013 | 2,635,185 | $ | 4.2 | 1.05 | ||||||||||||
Expected to vest after September 30, 2013 | 2,389,722 | $ | 4.2 | 0.98 | ||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||||||
The following table summarizes information about stock options outstanding as of September 30, 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Exercise Price | Number of Options | Weighted Average | Weighted Average Exercise Price | Number of Options | Weighted Average Exercise Price | |||||||||||
Remaining Contractual Life | ||||||||||||||||
(Years) | ||||||||||||||||
$0.10—$2.76 | 1,218,972 | 8.34 | $ | 2.63 | 248,047 | $ | 2.31 | |||||||||
$2.79—$2.85 | 964,895 | 9.75 | $ | 2.79 | 68 | $ | 2.85 | |||||||||
$2.87—$2.87 | 917,000 | 9.67 | $ | 2.87 | — | $ | — | |||||||||
$2.89—$3.12 | 918,271 | 9.14 | $ | 2.99 | 204,297 | $ | 3.04 | |||||||||
$3.23—$3.83 | 189,639 | 8.79 | $ | 3.31 | 86,438 | $ | 3.39 | |||||||||
$3.86—$3.86 | 1,045,052 | 8.16 | $ | 3.86 | 416,769 | $ | 3.86 | |||||||||
$3.93—$4.06 | 992,731 | 4.25 | $ | 3.95 | 926,064 | $ | 3.94 | |||||||||
$4.31—$14.28 | 919,609 | 6.11 | $ | 6.8 | 748,254 | $ | 6.38 | |||||||||
$16.00—$19.61 | 942,063 | 7.05 | $ | 16.31 | 600,610 | $ | 16.29 | |||||||||
$20.41—$30.17 | 1,028,282 | 6.84 | $ | 23.86 | 719,851 | $ | 23.62 | |||||||||
$0.10—$30.17 | 9,136,514 | 7.72 | $ | 7.23 | 3,950,398 | $ | 9.7 | |||||||||
Schedule of Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||
Stock-based compensation expense related to options and restricted stock units granted to employees and nonemployees was allocated to research and development expense and sales, general and administrative expense as follows (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Research and development | $ | 1,132 | $ | 1,450 | $ | 3,428 | $ | 4,521 | ||||||||
Sales, general and administrative | 3,301 | 4,515 | 10,183 | 16,879 | ||||||||||||
Total stock-based compensation expense | $ | 4,433 | $ | 5,965 | $ | 13,611 | $ | 21,400 | ||||||||
Employee Share Based Compensation [Member] | ' | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||
Stock-based compensation expense for RSUs is measured based on the closing fair market value of the Company's common stock on the date of grant. Stock-based compensation expense for stock options and employee stock purchase plan rights is estimated at the grant date and offering date, respectively, based on the fair-value using the Black-Scholes option pricing model. The fair value of employee stock options is being amortized on a straight-line basis over the requisite service period of the awards. 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, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Expected dividend yield | — | % | — | % | — | % | — | % | ||||||||
Risk-free interest rate | 1.6 | % | 0.9 | % | 1.4 | % | 1.1 | % | ||||||||
Expected term (in years) | 6.1 | 5.9 | 6.1 | 6 | ||||||||||||
Expected volatility | 81 | % | 79 | % | 82 | % | 76 | % | ||||||||
Non Employee Share Based Compensation [Member] | ' | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||
The fair value of nonemployee stock options was estimated using the following weighted-average assumptions: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Expected dividend yield | — | % | — | % | — | % | — | % | ||||||||
Risk-free interest rate | 1.2 | % | 1.3 | % | 1.4 | % | 1.5 | % | ||||||||
Expected term (in years) | 4 | 6.9 | 5.3 | 7.1 | ||||||||||||
Expected volatility | 81 | % | 79 | % | 82 | % | 77 | % |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | |||||||||||||||
Revenues by geography are based on the location of the customer. The following tables set forth revenue and long-lived assets by geographic area (in thousands): | ||||||||||||||||
Revenues | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
United States | $ | 2,037 | $ | 3,905 | $ | 12,060 | $ | 46,807 | ||||||||
Brazil | 1,046 | 1,053 | 3,123 | 2,741 | ||||||||||||
Europe | 2,829 | 12,452 | 7,059 | 15,785 | ||||||||||||
Asia | 1,092 | 1,698 | 3,480 | 2,507 | ||||||||||||
Total | $ | 7,004 | $ | 19,108 | $ | 25,722 | $ | 67,840 | ||||||||
Long-Lived Assets | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
United States(1) | $ | 56,558 | $ | 70,085 | ||||||||||||
Brazil(1) | 82,649 | 91,170 | ||||||||||||||
Europe | 1,511 | 1,866 | ||||||||||||||
Total | $ | 140,718 | $ | 163,121 | ||||||||||||
-1 | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not change previously reported consolidated financial statements. |
Comprehensive_Income_Loss_Tabl
Comprehensive Income (Loss) (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Equity [Abstract] | ' | |||||||
Schedule of Accumulated Other Comprehensive Loss | ' | |||||||
The components of accumulated other comprehensive loss are as follows (in thousands): | ||||||||
30-Sep-13 | 31-Dec-12 | |||||||
Foreign currency translation adjustment, net of tax | $ | (16,961 | ) | $ | (12,807 | ) | ||
Total accumulated other comprehensive loss | $ | (16,961 | ) | $ | (12,807 | ) |
Net_Loss_Attributable_to_Commo1
Net Loss Attributable to Common Stockholders and Net Loss per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||||||||
The following table presents the calculation of basic and diluted net loss per share of common stock attributable to Amyris, Inc. common stockholders (in thousands, except share and per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator: | ||||||||||||||||
Net loss attributable to Amyris, Inc. common stockholders | $ | (24,199 | ) | $ | (20,293 | ) | $ | (95,689 | ) | $ | (161,647 | ) | ||||
Denominator: | ||||||||||||||||
Weighted average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted | 76,205,853 | 58,964,226 | 75,167,877 | 55,552,949 | ||||||||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.32 | ) | $ | (0.34 | ) | $ | (1.27 | ) | $ | (2.91 | ) | ||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | |||||||||||||||
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been anti-dilutive: | ||||||||||||||||
Three and Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Period-end stock options to purchase common stock | 9,136,514 | 8,345,400 | ||||||||||||||
Convertible promissory notes | 20,110,650 | 11,077,785 | ||||||||||||||
Period-end common stock subject to repurchase | 1 | 301 | ||||||||||||||
Period-end common stock warrants | 21,087 | 21,087 | ||||||||||||||
Period-end restricted stock units | 2,635,185 | 1,712,899 | ||||||||||||||
Total | 31,903,437 | 21,157,472 | ||||||||||||||
The_Company_Details
The Company (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Sep. 30, 2013 | Aug. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 16, 2013 | Aug. 31, 2013 | Oct. 31, 2013 | Aug. 31, 2013 | Oct. 31, 2013 | |
Tate & Lyle Termination Agreement [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | Maximum [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | First Tranche [Member] | First Tranche [Member] | Second Tranche [Member] | Second Tranche [Member] | ||||||
August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | Temasek Bridge Note [Member] | Temasek Bridge Note [Member] | Maximum [Member] | August 2013 Convertible Notes [Member] | Subsequent Event [Member] | August 2013 Convertible Notes [Member] | Subsequent Event [Member] | |||||||||
Cancellation of the Temasek Bridge Note [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | ||||||||||||||
Loss on purchase commitments and write off of production assets | $0 | $1,438,000 | $8,423,000 | $38,090,000 | ' | $8,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Capital Expenditures During Current Fiscal Year | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retained Earnings (Accumulated Deficit) | -682,016,000 | ' | -682,016,000 | ' | -586,327,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash, Cash Equivalents, and Short-term Investments | 6,300,000 | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 118,838,000 | ' | 118,838,000 | ' | 104,164,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, current portion | 5,448,000 | ' | 5,448,000 | ' | 3,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | 73,000,000 | ' | ' | ' | 51,800,000 | 42,600,000 | ' | 30,400,000 | ' |
Private Placement Convertible Notes, Period | ' | ' | ' | ' | ' | ' | ' | ' | '24 months | ' | ' | ' | ' | ' | ' | ' | ' |
Future Proceeds from Convertible Debt | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | ' | ' | ' | ' | 35,000,000 | ' | 25,000,000 | ' |
Future Cancellation Of Debt, Amount | ' | ' | ' | ' | ' | ' | 13,000,000 | ' | ' | 44,200,000 | ' | 35,000,000 | ' | 7,600,000 | 7,600,000 | 5,400,000 | ' |
Bridge Loan | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | 35,000,000 | 35,000,000 | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' | ' | ' | ' | ' | ' |
Debt Instrument, Amended Additional Investor Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 | ' | ' |
Debt Instrument, Amended Promissory Note, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,600,000 | ' | ' | ' | ' | $9,200,000 | ' | $5,400,000 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments, Hierarchy (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ||
Financial Assets [Abstract] | ' | ' | ||
Money market funds | $245 | $15,847 | ||
Certificates of deposit | 580 | 757 | ||
Total financial assets | 825 | 16,604 | ||
Financial Liabilities [Abstract] | ' | ' | ||
Notes payable | ' | 0 | [1] | |
Loans payable(1) | 0 | [1] | 0 | [1] |
Credit facilities(1) | 0 | [1] | 0 | [1] |
Convertible notes(1) | 0 | [1] | 0 | [1] |
Compound embedded derivative liability | 0 | 0 | ||
Currency interest rate swap derivative liability | 0 | 0 | ||
Total financial liabilities | 0 | 0 | ||
Other Observable Inputs (Level 2) [Member] | ' | ' | ||
Financial Assets [Abstract] | ' | ' | ||
Money market funds | 0 | 0 | ||
Certificates of deposit | 0 | 0 | ||
Total financial assets | 0 | 0 | ||
Financial Liabilities [Abstract] | ' | ' | ||
Notes payable | ' | 1,676 | [1] | |
Loans payable(1) | 19,502 | [1] | 20,707 | [1] |
Credit facilities(1) | 8,555 | [1] | 11,503 | [1] |
Convertible notes(1) | 0 | [1] | 0 | [1] |
Compound embedded derivative liability | 0 | 0 | ||
Currency interest rate swap derivative liability | 3,074 | 1,367 | ||
Total financial liabilities | 31,131 | 35,253 | ||
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ||
Financial Assets [Abstract] | ' | ' | ||
Money market funds | 0 | 0 | ||
Certificates of deposit | 0 | 0 | ||
Total financial assets | 0 | 0 | ||
Financial Liabilities [Abstract] | ' | ' | ||
Notes payable | ' | 0 | [1] | |
Loans payable(1) | 0 | [1] | 0 | [1] |
Credit facilities(1) | 0 | [1] | 0 | [1] |
Convertible notes(1) | 88,261 | [1] | 62,522 | [1] |
Compound embedded derivative liability | 13,836 | 7,894 | ||
Currency interest rate swap derivative liability | 0 | 0 | ||
Total financial liabilities | 102,097 | 70,416 | ||
Balance as of March 31 [Member] | ' | ' | ||
Financial Assets [Abstract] | ' | ' | ||
Money market funds | 245 | 15,847 | ||
Certificates of deposit | 580 | 757 | ||
Total financial assets | 825 | 16,604 | ||
Financial Liabilities [Abstract] | ' | ' | ||
Notes payable | ' | 1,676 | [1] | |
Loans payable(1) | 19,502 | [1] | 20,707 | [1] |
Credit facilities(1) | 8,555 | [1] | 11,503 | [1] |
Convertible notes(1) | 88,261 | [1] | 62,522 | [1] |
Compound embedded derivative liability | 13,836 | 7,894 | ||
Currency interest rate swap derivative liability | 3,074 | 1,367 | ||
Total financial liabilities | $133,228 | $105,669 | ||
[1] | These liabilities are carried on the condensed consolidated balance sheet on a historical cost basis. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Using Significant Unobservable Inputs (Level 3) (Details) (Derivative Liability - Compound Embedded Derivatives [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Derivative Liability - Compound Embedded Derivatives [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Fair value, beginning of period | $7,894 |
Transfers in to Level 3 | 13,076 |
Change in fair value recorded in other income (expense), net | -7,134 |
Fair value, end of period | $13,836 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments, Derivative Disclosures (Details) (Not Designated as Hedging Instrument [Member], USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Future [Member] | Future [Member] | Future [Member] | Future [Member] | Future [Member] | Future [Member] | Currency interest rate swap [Member] | Currency interest rate swap [Member] | Currency interest rate swap [Member] | Currency interest rate swap [Member] | |
Cost of products sold [Member] | Cost of products sold [Member] | Cost of products sold [Member] | Cost of products sold [Member] | Currency interest rate swap, included as net liability in other long term liability [Member] | Currency interest rate swap, included as net liability in other long term liability [Member] | Other income (expense), net [Member] | Other income (expense), net [Member] | Other income (expense), net [Member] | Other income (expense), net [Member] | |
Contracts | Contracts | |||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quantity of Contracts (in contracts) | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' |
Fair Value | ' | ' | ' | ' | $3,074 | $1,367 | ' | ' | ' | ' |
Derivative contracts, gain (loss) | $0 | ($31) | $0 | ($288) | ' | ' | ($137) | $82 | ($1,707) | ($1,133) |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments Fair Value of Financial Instruments, Textuals (Details) | Jul. 13, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Banco Pine July 2012 Loan Agreement [Member] | Bridge Loan [Member] | Bridge Loan [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Derivative Liability - Compound Embedded Derivatives [Member] | Derivative Liability - Compound Embedded Derivatives [Member] | |
BRL | Banco Pine S.A Loan Agreement June 2012 [Member] | Banco Pine S.A Loan Agreement June 2012 [Member] | Banco Pine July 2012 Loan Agreement [Member] | Banco Pine July 2012 Loan Agreement [Member] | USD ($) | USD ($) | |
USD ($) | BRL | USD ($) | BRL | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | 22,000,000 | $25,600,000 | 52,000,000 | ' | ' | ' | ' |
Notional Amount of Interest Rate Derivatives | ' | ' | ' | 9,900,000 | 22,000,000 | ' | ' |
Derivative, Fixed Interest Rate | ' | ' | ' | ' | 3.94% | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | ' | ' | ' | ' | ' | $13,836,000 | $7,894,000 |
Balance_Sheet_Components_Inven
Balance Sheet Components Inventory (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Balance Sheet Components [Abstract] | ' | ' |
Raw materials | $1,527 | $1,574 |
Work-in-process | 5,218 | 1,771 |
Finished goods | 1,203 | 2,689 |
Inventories, net | $7,948 | $6,034 |
Balance_Sheet_Components_Prepa
Balance Sheet Components Prepaid and Other Current Assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Balance Sheet Components [Abstract] | ' | ' | ||
Advances to contract manufacturers | $10 | [1] | $784 | [1] |
Manufacturing catalysts | 1,441 | 1,895 | ||
Recoverable VAT and other taxes | 4,146 | 4,167 | ||
Other | 1,567 | 2,079 | ||
Prepaid and other current assets | $7,164 | $8,925 | ||
[1] | At December 31, 2012, the amount of $0.8 million, relates to the current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. |
Balance_Sheet_Components_Prope
Balance Sheet Components Property, Plant and Equipment, net (Details) | 1 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | BRL | USD ($) | BRL | USD ($) | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Leasehold improvements [Member] | Leasehold improvements [Member] | Machinery and equipment [Member] | Machinery and equipment [Member] | Computer and software [Member] | Computer and software [Member] | Furniture and office equipment [Member] | Furniture and office equipment [Member] | Buildings [Member] | Buildings [Member] | Vehicles [Member] | Vehicles [Member] | Construction in progress [Member] | Construction in progress [Member] | Machinery and Equipment and Furniture and Office Equipment Under Capital Lease [Member] | Machinery and Equipment and Furniture and Office Equipment Under Capital Lease [Member] | Property Plant and Equipment Including Capital Leases [Member] | Property Plant and Equipment Including Capital Leases [Member] | Property Plant and Equipment Including Capital Leases [Member] | Property Plant and Equipment Including Capital Leases [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Machinery and equipment [Member] | Computer and software [Member] | Machinery and equipment [Member] | Computer and software [Member] | ||||||
USD ($) | USD ($) | ||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Gross | $206,986,000 | ' | $198,720,000 | ' | ' | ' | ' | $39,114,000 | $39,290,000 | $98,350,000 | $105,162,000 | $8,509,000 | $8,232,000 | $2,520,000 | $2,467,000 | $6,829,000 | $5,888,000 | $465,000 | $575,000 | $42,933,000 | $45,372,000 | $3,400,000 | $9,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Less: accumulated depreciation and amortization | -43,865,000 | ' | -58,002,000 | ' | ' | -1,300,000 | -4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | 163,121,000 | ' | 140,718,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 12,259,000 | ' | 10,686,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | 3,100,000 | 12,200,000 | 10,400,000 | ' | ' | ' | ' |
Interest Costs Capitalized | $600,000 | 1,100,000 | $500,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '15 years | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '3 years | '15 years | '5 years |
Balance_Sheet_Components_Other
Balance Sheet Components Other assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Balance Sheet Components [Abstract] | ' | ' | ||
Deposits on property and equipment, including taxes | $2,137 | $2,363 | ||
Advances to contract manufacturers, net of current portion | 0 | [1] | 2,222 | [1] |
Recoverable taxes on purchased property, plant and equipment | 15,609 | [2] | 13,597 | [2] |
Other | 1,979 | 1,930 | ||
Total other assets | $19,725 | $20,112 | ||
[1] | At December 31, 2012, the amount of $2.2 million relates to the non-current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. | |||
[2] | At September 30, 2013 and December 31, 2012, the amounts of $15.6 million and $13.6 million, respectively, are recoverable taxes from Brazilian governmental entities. |
Balance_Sheet_Components_Accru
Balance Sheet Components Accrued and Other Current Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Balance Sheet Components [Abstract] | ' | ' | ||
Professional services | $2,859 | $824 | ||
Accrued vacation | 2,179 | 2,673 | ||
Payroll and related expenses | 5,099 | 5,809 | ||
Tax-related liabilities | 641 | 851 | ||
Deferred rent, current portion | 1,111 | 1,448 | ||
Accrued interest | 1,435 | [1] | 965 | [1] |
Contractual obligations to contract manufacturers, current | 5,868 | 9,952 | ||
Customer advances | 372 | 970 | ||
Other | 741 | 918 | ||
Total accrued and other current liabilities | $20,305 | $24,410 | ||
[1] | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not materially change previously reported consolidated financial statements. |
Balance_Sheet_Components_Other1
Balance Sheet Components Other Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Balance Sheet Components [Abstract] | ' | ' | ||
Contractual obligations to contract manufacturers, non-current | $1,000 | $4,000 | ||
Fair market value of swap obligations | 3,074 | 1,367 | ||
Fair value of compound embedded derivative liability(1) | 13,836 | [1] | 7,894 | [1] |
Tax-related liabilities(2) | 469 | [2] | 1,609 | [2] |
Other(2) | 1,025 | [2] | 1,063 | [2] |
Total other liabilities | $19,404 | $15,933 | ||
[1] | The compound embedded derivative liability represents the fair value of the equity conversion feature and a "make-whole" feature related to the outstanding senior unsecured convertible promissory notes issued to Total. | |||
[2] | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not materially change previously reported consolidated financial statements. |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense | $1,400,000 | $1,200,000 | $3,500,000 | $3,700,000 | ' |
Capital Leases, Future Minimum Payments Due [Abstract] | ' | ' | ' | ' | ' |
2013 (Six Months) | 274,000 | ' | 274,000 | ' | ' |
2014 | 1,007,000 | ' | 1,007,000 | ' | ' |
2015 | 289,000 | ' | 289,000 | ' | ' |
2016 | 0 | ' | 0 | ' | ' |
2017 | 0 | ' | 0 | ' | ' |
Thereafter | 0 | ' | 0 | ' | ' |
Total future minimum lease payments | 1,570,000 | ' | 1,570,000 | ' | ' |
Less: amount representing interest | -75,000 | ' | -75,000 | ' | ' |
Present value of minimum lease payments | 1,495,000 | ' | 1,495,000 | ' | ' |
Less: current portion | -1,031,000 | ' | -1,031,000 | ' | -1,366,000 |
Long-term portion | 464,000 | ' | 464,000 | ' | 1,244,000 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' | ' |
2013 (Six Months) | 1,477,000 | ' | 1,477,000 | ' | ' |
2014 | 6,277,000 | ' | 6,277,000 | ' | ' |
2015 | 6,581,000 | ' | 6,581,000 | ' | ' |
2016 | 6,595,000 | ' | 6,595,000 | ' | ' |
2017 | 6,585,000 | ' | 6,585,000 | ' | ' |
Thereafter | 38,973,000 | ' | 38,973,000 | ' | ' |
Total future minimum lease payments | 66,488,000 | ' | 66,488,000 | ' | ' |
Capital Leases And Operating Leases, Future Minimum Payments Due [Abstract] | ' | ' | ' | ' | ' |
Total Lease Obligations - 2013 (Six Months) | 1,751,000 | ' | 1,751,000 | ' | ' |
Total Lease Obligations - 2014 | 7,284,000 | ' | 7,284,000 | ' | ' |
Total Lease Obligations - 2015 | 6,870,000 | ' | 6,870,000 | ' | ' |
Total Lease Obligations - 2016 | 6,595,000 | ' | 6,595,000 | ' | ' |
Total Lease Obligations - 2017 | 6,585,000 | ' | 6,585,000 | ' | ' |
Total Lease Obligations - Thereafter | 38,973,000 | ' | 38,973,000 | ' | ' |
Total Lease Obligations - Total Future minimum leases payments | $68,058,000 | ' | $68,058,000 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies Guarantor Arrangements/Purchase Obligations and Other Matters (Details) | Sep. 30, 2013 | Nov. 30, 2010 | Sep. 30, 2013 | Nov. 15, 2011 | Sep. 30, 2013 | Nov. 15, 2011 | Sep. 30, 2013 | Dec. 31, 2011 | Jul. 13, 2012 | Jul. 13, 2012 | Sep. 30, 2013 | Jul. 13, 2012 | Mar. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2013 |
USD ($) | FINEP Credit Facility [Member] | FINEP Credit Facility [Member] | Performance Guarantee [Member] | Performance Guarantee [Member] | Performance Guarantee [Member] | BNDES Credit Facility [Member] | BNDES Credit Facility [Member] | Banco Pine July 2012 Loan Agreement [Member] | Nossa Caixa Loan Agreement [Member] | Pine and Nossa Caixa Loan Agreement [Member] | Pine and Nossa Caixa Loan Agreement [Member] | ABC Brasil Agreement [Member] | Tate & Lyle Termination Agreement [Member] | Tate & Lyle Termination Agreement [Member] | Loans and Notes Payable [Member] | |
Chattel Mortgage [Member] | Chattel Mortgage [Member] | Payment Guarantee [Member] | Payment Guarantee [Member] | BNDES [Member] | BNDES [Member] | BRL | BRL | USD ($) | BRL | USD ($) | USD ($) | USD ($) | Amendment of Lease Agreement - Emeryville [Member] | |||
BRL | USD ($) | USD ($) | BRL | USD ($) | BRL | USD ($) | ||||||||||
disbursement | ||||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease Incentive, Elimination of Debt, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,600,000 |
Monthly Rent Credit, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71,000 |
Monthly Rent Credit, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,000 |
Line of Credit Facility, Maximum Borrowing Capacity | ' | 6,400,000 | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and Development Asset Acquired Other than Through Business Combination, Fair Value Acquired | ' | 6,000,000 | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disbursements Received After Compliance with Certain Terms and Conditions (in disbursements) | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guaranty Liabilities | ' | 3,300,000 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateral Provided By Company, Certain Equipment and Other Tangible Assets, Amount | ' | ' | ' | ' | ' | ' | 11,200,000 | 24,900,000 | ' | ' | 30,500,000 | 68,000,000 | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | 22,000,000 | 30,000,000 | 23,300,000 | 52,000,000 | ' | ' | ' | ' |
Export Financing Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' |
Period Required For Restricted Cash | ' | ' | ' | '3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | 100,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Obligation | 11,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual Obligation | 11,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Loss on Purchase Commitments | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination Agreement, Payment Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,200,000 | 8,800,000 | ' |
Termination Agreement, Outstanding Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | 2,600,000 | ' |
Termination Agreement, Outstanding Invoice Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,600,000 | ' |
Debt_Details
Debt (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total debt | $118,838 | $104,164 |
Less: current portion | -5,448 | -3,325 |
Long-term debt | 113,390 | 100,839 |
Convertible Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 25,000 | 25,000 |
Years ending December 31: [Abstract] | ' | ' |
2013 (Six Months) | 192 | ' |
2014 | 760 | ' |
2015 | 765 | ' |
2016 | 761 | ' |
2017 | 25,125 | ' |
Thereafter | 0 | ' |
Total future minimum payments | 27,603 | ' |
Less: amount representing interest | -2,603 | ' |
Present value of minimum debt payments | 25,000 | ' |
Less: current portion | 0 | ' |
Noncurrent portion of debt | 25,000 | ' |
Related Party Convertible Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 58,091 | 39,033 |
Years ending December 31: [Abstract] | ' | ' |
2013 (Six Months) | 0 | ' |
2014 | 0 | ' |
2015 | 0 | ' |
2016 | 0 | ' |
2017 | 83,267 | ' |
Thereafter | 0 | ' |
Total future minimum payments | 83,267 | ' |
Less: amount representing interest | -25,176 | ' |
Present value of minimum debt payments | 58,091 | ' |
Less: current portion | 0 | ' |
Noncurrent portion of debt | 58,091 | ' |
Notes Payable [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 0 | 1,572 |
Loans Payable [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 25,997 | 26,150 |
Years ending December 31: [Abstract] | ' | ' |
2013 (Six Months) | 492 | ' |
2014 | 5,243 | ' |
2015 | 4,042 | ' |
2016 | 3,887 | ' |
2017 | 3,726 | ' |
Thereafter | 15,052 | ' |
Total future minimum payments | 32,442 | ' |
Less: amount representing interest | -6,445 | ' |
Present value of minimum debt payments | 25,997 | ' |
Less: current portion | -3,286 | ' |
Noncurrent portion of debt | 22,711 | ' |
Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 9,750 | 12,409 |
Years ending December 31: [Abstract] | ' | ' |
2013 (Six Months) | 682 | ' |
2014 | 2,681 | ' |
2015 | 2,542 | ' |
2016 | 2,404 | ' |
2017 | 2,264 | ' |
Thereafter | 579 | ' |
Total future minimum payments | 11,152 | ' |
Less: amount representing interest | -1,402 | ' |
Present value of minimum debt payments | 9,750 | ' |
Less: current portion | -2,162 | ' |
Noncurrent portion of debt | $7,588 | ' |
Debt_FINEP_Credit_Facility_Det
Debt FINEP Credit Facility (Details) | 0 Months Ended | ||||||||
In Millions, unless otherwise specified | Nov. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Nov. 30, 2010 | Nov. 30, 2010 | Dec. 31, 2012 | Nov. 30, 2010 |
FINEP Credit Facility [Member] | Chattel Mortgage [Member] | Chattel Mortgage [Member] | Chattel Mortgage [Member] | Chattel Mortgage [Member] | Chattel Mortgage [Member] | Minimum [Member] | FINEP Project [Member] | FINEP Project [Member] | |
Monthly_installment | FINEP Credit Facility [Member] | FINEP Credit Facility [Member] | FINEP Credit Facility [Member] | FINEP Credit Facility [Member] | FINEP Credit Facility [Member] | FINEP Credit Facility [Member] | USD ($) | BRL | |
USD ($) | BRL | USD ($) | BRL | BRL | |||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | $2.90 | ' | ' | ' | 6.4 | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Debt Default Fine Percentage | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Interest On Late Balance Percentage Per Month | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility Number of Monthly Payments (in monthly installment) | 81 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | 2.5 | 5.5 | 3.1 | 6.4 | ' | ' | ' | ' |
Research and Development Project, Amount To Be Contributed From Company Funds | ' | ' | ' | ' | ' | ' | ' | 6.5 | 14.5 |
Research and Development Project Amount To Be Contributed From Company Prior To Release Of Second Tranche | ' | ' | ' | ' | ' | ' | ' | ' | 11.1 |
Guaranty Liabilities | ' | $1.50 | ' | ' | ' | 3.3 | ' | ' | ' |
Period Of Time Amounts Released Must Be Used | '30 months | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_BNDES_Credit_Facility_Det
Debt BNDES Credit Facility (Details) (BNDES Credit Facility [Member], BNDES [Member]) | 1 Months Ended | 1 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 |
BRL | USD ($) | BRL | USD ($) | BRL | Maximum [Member] | Maximum [Member] | |
Monthly_installment | BRL | USD ($) | |||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | 22.4 | $10 |
Line of Credit Facility, Initial Tranche | ' | ' | ' | ' | ' | 19.1 | 8.6 |
Line of Credit Facility, Additional Tranche, Available Upon Delivery of Additional Guarantees | ' | ' | ' | ' | ' | 3.3 | 1.5 |
Period Credit Line Is Available | ' | ' | ' | ' | ' | '12 months | ' |
Line of Credit Facility Number of Monthly Payments (in monthly installment) | 60 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.10% | ' | ' | ' | ' | ' | ' |
Collateral Provided By Company, Certain Equipment and Other Tangible Assets, Amount | 24.9 | 11.2 | ' | ' | ' | ' | ' |
Line of Credit Facility, Bank Guarantee, Percentage | 10.00% | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Second Tranche Floor | 19.1 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Bank Guarantee, Percentage, Second Tranche | 90.00% | ' | ' | ' | ' | ' | ' |
Guarantor Obligations, Liquidation Proceeds, Percentage | 130.00% | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | $7.30 | 16.2 | $9.30 | 19.1 | ' | ' |
Debt_Notes_Payable_Details
Debt Notes Payable (Details) (Notes Payable, Other Payables-Lessor [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 31, 2008 | Oct. 31, 2008 | Oct. 31, 2008 | Apr. 30, 2013 |
Minimum [Member] | Maximum [Member] | Amendment of Lease Agreement - Emeryville [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | $3,300,000 | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 9.50% | ' | ' | ' |
Repayment Period | ' | ' | ' | '55 months | '120 months | ' |
Notes payable outstanding | 0 | 1,600,000 | ' | ' | ' | ' |
Lease Incentive, Elimination of Debt, Amount | ' | ' | ' | ' | ' | $1,400,000 |
Debt_Convertible_Notes_Details
Debt Convertible Notes (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jul. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 29, 2012 | Dec. 02, 2013 | Oct. 31, 2013 | Jul. 31, 2013 | Jun. 30, 2013 | Jul. 30, 2012 | Jul. 31, 2014 | Jul. 30, 2012 | Jul. 31, 2014 |
Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Fidelity [Member] | Subsequent Event [Member] | Temasek Bridge Note [Member] | Initial Installment [Member] | Initial Installment [Member] | Initial Installment [Member] | Initial Installment [Member] | Second Installment [Member] | Second Installment [Member] | |||
Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Subsequent Event [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Subsequent Event [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Subsequent Event [Member] | |||||||
Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | $105,000,000 | ' | ' | $25,000,000 | ' | ' | $20,000,000 | $10,000,000 | $30,000,000 | $21,700,000 | ' | $10,850,000 |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 1.50% | ' | ' | 3.00% | ' | 5.50% | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | $7.07 | $7.07 | ' | ' | $7.07 | $2.20 | ' | ' | ' | ' | ' | $3.08 | ' |
Debt Instrument, Convertible, Common Stock, Shares | ' | ' | ' | ' | ' | ' | 3,536,968.39 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Principal Amount of Notes, Required to Be Repaid In An Acquisition | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Outstanding Debt, Maximum | ' | ' | ' | 200,000,000 | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Percentage of Consolidated Total Assets, Maximum | ' | ' | ' | 50.00% | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Outstanding Secured Debt, Maximum | ' | ' | ' | 125,000,000 | ' | ' | 125,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Secured Debt, Percentage of Consolidated Total Assets, Maximum | ' | ' | ' | 30.00% | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Bridge Loan | ' | ' | ' | ' | ' | ' | ' | ' | 35,000,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt | $118,838,000 | $104,164,000 | ' | ' | $25,000,000 | $25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Related_Party_Convertible
Debt Related Party Convertible Notes (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 31, 2013 | Jul. 30, 2012 | Sep. 30, 2013 | Dec. 24, 2012 | Jul. 30, 2012 | Sep. 14, 2012 | Jul. 30, 2012 | Jul. 31, 2013 | Jul. 26, 2013 | Jun. 30, 2013 | Jun. 06, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 24, 2012 | Jul. 31, 2013 | Jun. 30, 2013 | Jul. 30, 2012 | Jul. 30, 2012 | Jul. 30, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Oct. 31, 2013 | Dec. 02, 2013 | Jul. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2013 | Mar. 24, 2013 | Mar. 24, 2013 | Aug. 31, 2013 |
August 2013 Convertible Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Related Party Convertible Notes [Member] | Related Party Convertible Notes [Member] | Private Placement [Member] | Initial Installment [Member] | Initial Installment [Member] | Initial Installment [Member] | Second Installment [Member] | Select Whichever Greater At Consideration [Member] | First Tranche [Member] | Second Tranche [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | May 15th 2013 [Member] | June 15th 2013 [Member] | Common Stock [Member] | |||
Unsecured Senior Convertible Notes 1.5% Due 2017 [Member] | Unsecured Senior Convertible Notes 1.5% Due 2017 [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Initial Installment [Member] | Second Installment [Member] | First Tranche [Member] | Second Tranche [Member] | Subsequent Event [Member] | ||||||||||||
Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Amended Promissory Note, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,600,000 | ' | ' | ' | $9,200,000 | $5,400,000 | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | 105,000,000 | ' | ' | 38,300,000 | 15,000,000 | ' | 20,000,000 | 20,000,000 | 10,000,000 | 10,000,000 | ' | ' | ' | 20,000,000 | 10,000,000 | 30,000,000 | ' | ' | 42,600,000 | 30,400,000 | ' | ' | 21,700,000 | 10,850,000 | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | 1.50% | 1.50% | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Convertible Debt | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Amount | ' | ' | ' | ' | ' | ' | 23,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Common Stock, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,677,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Proceeds from Convertible Debt | ' | ' | 60,000,000 | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000,000 | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Cancellation Of Debt, Amount | ' | ' | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 | 5,400,000 | 44,200,000 | ' | ' | ' | 7,600,000 | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.01 |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | $7.07 | $7.07 | ' | ' | ' | ' | ' | $3.08 | ' | $3.08 | ' | ' | $2.98 | ' | ' | ' | $3.08 | $3.08 | ' | ' | ' | $2.20 | ' | ' | $2.44 | $2.87 | ' | ' | ' |
Collaboration Agreement, Funding Obligation Advanced Installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | 10,000,000 | ' |
Debt Instrument, Closing Price Plus Incremental Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Default Rate, Stated Percentage | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Period Prior to Maturity to Eligible For Conversion | ' | ' | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of Lock-up Upon Conversion of Debt | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt, Amount Outstanding | ' | ' | ' | ' | ' | 53,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Early Repayment, Percentage of Principal | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Outstanding Debt, Maximum | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Percentage of Consolidated Total Assets, Maximum | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Outstanding Secured Debt, Maximum | ' | ' | ' | 125,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Covenant, Secured Debt, Percentage of Consolidated Total Assets, Maximum | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 118,838,000 | 104,164,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,091,000 | 39,033,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,200,000 | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination Agreement, Additional Owed Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,400,000 | ' | ' | ' |
Debt_Loans_Payable_Details
Debt Loans Payable (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Jul. 13, 2012 | Jul. 13, 2012 | Jul. 13, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2009 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2013 | Mar. 31, 2013 | Mar. 18, 2013 | Sep. 30, 2013 |
USD ($) | USD ($) | Banco Pine S.A Loan Agreement June 2012 [Member] | Banco Pine S.A Loan Agreement June 2012 [Member] | Pine and Nossa Caixa Loan Agreement [Member] | Pine and Nossa Caixa Loan Agreement [Member] | Banco Pine July 2012 Loan Agreement [Member] | Nossa Caixa Loan Agreement [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable Lessor Emeryville Plant [Member] | Loans Payable Lessor Emeryville Plant [Member] | Loans Payable Lessor Emeryville Plant [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Amendment of Lease Agreement - Emeryville [Member] | ABC Brasil Agreement [Member] | ABC Brasil Agreement [Member] | ABC Brasil Agreement [Member] | |
Bridge Loan [Member] | Bridge Loan [Member] | USD ($) | BRL | BRL | BRL | USD ($) | USD ($) | USD ($) | Pine and Nossa Caixa Loan Agreement [Member] | Pine and Nossa Caixa Loan Agreement [Member] | USD ($) | USD ($) | USD ($) | Banco Pine July 2012 Loan Agreement [Member] | Banco Pine July 2012 Loan Agreement [Member] | Loans Payable [Member] | USD ($) | Loans Payable [Member] | ||||
USD ($) | BRL | Monthly_installment | USD ($) | USD ($) | USD ($) | BRL | USD ($) | USD ($) | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | $25,600,000 | 52,000,000 | $23,300,000 | 52,000,000 | 22,000,000 | 30,000,000 | ' | ' | $600,000 | ' | ' | $300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 5.50% | 5.50% | ' | 5.50% | ' | ' | ' | ' | 3.24% | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Days of Interruption of Manufacturing Activities at Plant | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '96 months | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 118,838,000 | 104,164,000 | ' | ' | ' | ' | ' | ' | 25,997,000 | 26,150,000 | ' | 23,300,000 | 25,400,000 | ' | 0 | 200,000 | ' | ' | ' | ' | ' | 2,500,000 |
Lease Incentive, Elimination of Debt, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' |
Debt Instrument, Interest Rate, Monthly Stated Percentage | ' | ' | 0.45% | 0.45% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount of Interest Rate Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,900,000 | 22,000,000 | ' | ' | ' | ' |
Derivative, Fixed Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.94% | ' | ' | ' | ' |
Collateral Provided By Company, Certain Equipment and Other Tangible Assets, Amount | ' | ' | ' | ' | 30,500,000 | 68,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Period of Interest Only Quarterly Payments | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Equal Monthly Installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Payable to Bank | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Export Financing Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' |
Debt Instrument, Debt Discount Related Party | ($20,200,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Letters_of_Credit_Details
Debt Letters of Credit (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Debt Disclosure [Abstract] | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | $1,000,000 |
Restricted cash | $956,000 | $955,000 | ' |
Joint_Ventures_and_Noncontroll2
Joint Ventures and Noncontrolling Interest Narrative (Details) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Jun. 30, 2011 | Mar. 26, 2013 | Mar. 26, 2013 | Apr. 14, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 26, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | Joint Venture with Cosan [Member] | Joint Venture with Cosan [Member] | Joint Venture with Cosan [Member] | Joint Venture with Cosan [Member] | Joint Venture with Cosan [Member] | Novvi LLC [Member] | SMA Industria Quimica S.A. [Member] | Maximum [Member] | Maximum [Member] | Granting IP License to Novvi [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Revenue from Research and Devolopment [Member] | Revenue from Research and Devolopment [Member] | Revenue from Research and Devolopment [Member] | Revenue from Research and Devolopment [Member] | Sales Revenue, Goods, Net [Member] | Sales Revenue, Goods, Net [Member] | |
USD ($) | USD ($) | Corporate Joint Venture [Member] | Corporate Joint Venture [Member] | Amyris Brasil S.A. Subsidiary [Member] | Amyris Brasil S.A. Subsidiary [Member] | Corporate Joint Venture [Member] | SMA Industria Quimica S.A. [Member] | SMA Industria Quimica S.A. [Member] | Joint Venture with Cosan [Member] | USD ($) | USD ($) | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | |||||
Y | BRL | member | Corporate Joint Venture [Member] | Corporate Joint Venture [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||
Y | USD ($) | BRL | ||||||||||||||||||||
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Term of Joint Venture | ' | ' | ' | ' | ' | '20 years | ' | '20 years | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Number of Members of Executive Committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Number of Company Appointed Members of Executive Committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Number of Members of Executive Committee that are Senior Executive | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Number of Members of Board of Directors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Number of Members of Board of Directors Appointed by Each Venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due from Joint Ventures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $27,700,000 | 61,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Period Company is required to Purchase Output of SMA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | ' | ' | 50.00% | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Term of Shareholders' Agreement | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Ownership Percentage Required | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligation to Fund Agreement, Cash Portion | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funding Obligation, in Kind | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Contribution to Fund Agreement, Cost Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -24,228,000 | -20,388,000 | -95,457,000 | -162,419,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement to Sell Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement to Sell Equity Ownership | ' | ' | ' | ' | ' | ' | ' | ' | 22,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | $1,100,000 | $0 | $0 | $2,600,000 | $0 | $1,000,000 | $1,100,000 |
Joint_Ventures_and_Noncontroll3
Joint Ventures and Noncontrolling Interest Variable Interest Entity (Details) (USD $) | 9 Months Ended | 1 Months Ended | |||
Sep. 30, 2013 | Mar. 31, 2012 | Jan. 31, 2011 | Jan. 31, 2011 | Sep. 30, 2013 | |
Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Glycotech Agreement [Member] | Glycotech Agreement [Member] | Glycotech Agreement [Member] | |
consolidated_VIE | Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' |
Period of Initial Term of Collaboration Agreement | ' | ' | '2 years | ' | ' |
Additional Year Periods of Collaboration Agreement | ' | ' | '1 year | ' | ' |
Variable Interest Entity, Financial or other support | ' | ' | ' | 100.00% | ' |
Variable Interest Entity Number of Entities (in VIEs) | 2 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Property and Equipment | $22,700,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Other Assets | 4,100,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Current Assets | 400,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Accounts Payable And Accrued Liabilities | 200,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Loan Obligations | ' | ' | ' | ' | 100,000 |
Assets | 27,118,000 | 29,564,000 | ' | ' | ' |
Liabilities | $335,000 | $355,000 | ' | ' | ' |
Joint_Ventures_and_Noncontroll4
Joint Ventures and Noncontrolling Interest Noncontrolling Interest (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | ($877) | ' |
Foreign currency translation adjustment, | ' | ' | -4,099 | ' |
Loss attributable to noncontrolling interest | 29 | 95 | -232 | 772 |
Ending Balance | -590 | ' | -590 | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | -877 | -240 |
Foreign currency translation adjustment, | ' | ' | 55 | 209 |
Loss attributable to noncontrolling interest | ' | ' | 232 | -772 |
Ending Balance | ($590) | ($803) | ($590) | ($803) |
Significant_Agreements_Narrati
Significant Agreements (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 23, 2013 | Mar. 13, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 13, 2013 | Mar. 13, 2013 | Mar. 13, 2013 | Mar. 13, 2013 | ||||
Tate & Lyle Termination Agreement [Member] | Tate & Lyle Termination Agreement [Member] | International Flavors & Fragrances Inc Agreement [Member] | Firmenich SA Agreement [Member] | Firmenich SA Agreement [Member] | Firmenich SA Agreement [Member] | Before Firmenich Receives 15 Million Dollars More Than The Company in Agregate [Member] | After Firmenich Received 15 Million Dollars More Than The Company in Agregate [Member] | Firmenich [Member] | Firmenich [Member] | |||||||||
payment | payment | Firmenich SA Agreement [Member] | Firmenich SA Agreement [Member] | Before Firmenich Receives 15 Million Dollars More Than The Company in Agregate [Member] | After Firmenich Received 15 Million Dollars More Than The Company in Agregate [Member] | |||||||||||||
Firmenich SA Agreement [Member] | Firmenich SA Agreement [Member] | |||||||||||||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Termination Agreement, Number of Payments Due | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Termination Agreement, Payment Amount | ' | ' | ' | ' | ' | $6,200,000 | $8,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Termination Agreement, Outstanding Invoice Payment | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Termination Agreement, Additional Owed Payment | ' | ' | ' | ' | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Termination Agreement, Outstanding Liability | ' | ' | ' | ' | ' | 2,600,000 | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Loss on purchase commitments and write off of production assets | 0 | 1,438,000 | 8,423,000 | 38,090,000 | ' | 8,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Production Assets Written Off | ' | ' | ' | ' | ' | 6,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Loss Related to Adverse Purchase Commitments | ' | ' | ' | ' | ' | -1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Deposits Assets, Noncurrent | 0 | [1] | ' | 0 | [1] | ' | 2,222,000 | [1] | 2,700,000 | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Collaboration Agreement, Range of Funding, First Phase of Collaboration | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, Annual Funding | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, Annual Funding Period | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, Initial Payment | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, Initial Payment, Recognized as Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 5,400,000 | ' | ' | ' | ' | |||
Revenue Recognition, Milestone Method, Potential Revenue to be Recognized | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, Percentage Shares of Product Margins from Sales of Each Compound | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | 50.00% | 70.00% | 50.00% | |||
Collaboration Agreement, Shares of Product Margins from Sales of Each Compound Threshold Amount Until New Percentage Share Distribution | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | |||
Collaborator Agreement Performance Bonus | ' | ' | ' | ' | ' | ' | ' | ' | $2,500,000 | ' | ' | ' | ' | ' | ' | |||
Collaborator Agreement Performance Bonus, Number of Payment | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, No Research and Development Commitments on Either Party Thereafter | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | |||
Collaboration Agreement, Option to Mutually Agree for Additional Research and Development Commitments Thereafter Period of Agreement | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | |||
[1] | At December 31, 2012, the amount of $2.2 million relates to the non-current unamortized portion of equipment costs funded by the Company to a contract manufacturer. The related amortization was offset against purchases of inventory during 2013. |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 06, 2011 |
Acquired Licenses and Permits [Member] | Acquired Licenses and Permits [Member] | In Process Research and Development [Member] | In Process Research and Development [Member] | Draths Corporation [Member] | ||||||
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | ' | ' | ' | ' | ' | ' | ' | $8,560 | $8,560 | $8,600 |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | ' | ' | ' | ' | ' | 772 | 772 | ' | ' | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | -772 | ' | -772 | ' | -740 | -772 | -740 | ' | ' | ' |
Finite-Lived Intangible Assets, Net | ' | ' | ' | ' | ' | 0 | 32 | ' | ' | ' |
Goodwill | 560 | ' | 560 | ' | 560 | ' | ' | ' | ' | 600 |
Goodwill and Intangible Assets, Gross | 9,892 | ' | 9,892 | ' | 9,892 | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | 0 | -100 | -32 | -300 | ' | -32 | ' | ' | ' | ' |
Goodwill and Intangible Assets, Net | $9,120 | ' | $9,120 | ' | $9,152 | ' | ' | ' | ' | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 9 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | ||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 27, 2013 | Jan. 11, 2013 | Dec. 24, 2012 | Feb. 29, 2012 | Dec. 24, 2012 | 31-May-12 | Feb. 29, 2012 | Dec. 24, 2012 | Dec. 24, 2012 | Dec. 24, 2012 | Jan. 23, 2013 | Jan. 23, 2013 | |
Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Convertible Notes Payable [Member] | Commitment Fulfilled [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Equity Incentive Plan, 2010 [Member] | Employee Stock Purchase Plan, 2010 [Member] | ||||
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | ||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | 1,533,742 | 5,033,557 | ' | ' | 14,177,849 | 1,736,100 | 10,160,325 | ' | ' | ' | ' | ' |
Stock Issued During Period, Price Per Share, New Issues | ' | ' | ' | $3.26 | ' | $2.98 | ' | ' | $2.36 | $5.78 | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | $19,979,000 | ' | ' | ' | ' | ' | ' | ' | $4,100,000 | $58,700,000 | ' | ' | ' | ' | ' |
Commitment to purchase company common stock | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | 10,000,000 | ' | ' | ' |
Proceeds from Issuance of Private Placement | 19,981,000 | 62,490,000 | ' | 5,000,000 | ' | 37,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' |
Extinguishment of Debt, Common Stock, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,677,852 | ' | ' | ' | ' |
Proceeds from Issuance of Private Placement, First Payment Received | ' | ' | ' | ' | ' | 22,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Private Placement Remaining Balance Settled | ' | ' | ' | ' | $15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,435,483 | 687,096 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized, Percentage Increase of Common Stock, Shares, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 1.00% |
Common Stock, Shares, Outstanding | 76,245,375 | ' | 68,709,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans - Stock Option Activity (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | |||||
$0.10—$2.76 | $2.79—$2.85 | $2.87—$2.87 | $2.89—$3.12 | $3.23—$3.83 | $3.86—$3.86 | $3.93—$4.06 | $4.31—$14.28 | $16.00—$19.61 | $20.41—$30.17 | $0.10—$30.17 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | ' | ' | ' | ' | ' | ' | $0.10 | $2.79 | $2.87 | $2.89 | $3.23 | $3.86 | $3.93 | $4.31 | $16 | $20.41 | $0.10 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | ' | ' | ' | ' | ' | ' | $2.76 | $2.85 | $2.87 | $3.12 | $3.83 | $3.86 | $4.06 | $14.28 | $19.61 | $30.17 | $30.17 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | ' | ' | ' | ' | ' | 8,946,592 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | ' | ' | ' | ' | 2,772,130 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | ' | ' | ' | -193,166 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | ' | ' | ' | ' | ' | -2,389,042 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | ' | ' | ' | ' | 8,946,592 | 9,136,514 | 1,218,972 | 964,895 | 917,000 | 918,271 | 189,639 | 1,045,052 | 992,731 | 919,609 | 942,063 | 1,028,282 | 9,136,514 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | ' | ' | ' | ' | ' | $9.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $2.83 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $0.87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $9.56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | ' | ' | ' | ' | $9.07 | $7.23 | $2.63 | $2.79 | $2.87 | $2.99 | $3.31 | $3.86 | $3.95 | $6.80 | $16.31 | $23.86 | $7.23 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | '7 years 5 months 16 days | '7 years 8 months 19 days | '8 years 4 months 2 days | '9 years 9 months | '9 years 8 months 1 day | '9 years 1 month 21 days | '8 years 9 months 15 days | '8 years 1 month 28 days | '4 years 3 months | '6 years 1 month 10 days | '7 years 0 months 18 days | '6 years 10 months 2 days | '7 years 8 months 19 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | ' | ' | ' | $954,000 | $71,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | ' | ' | ' | ' | 8,454,008 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $7.44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '7 years 7 months 10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | ' | ' | ' | ' | ' | 71,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | ' | ' | ' | ' | ' | 3,950,398 | 248,047 | 68 | 0 | 204,297 | 86,438 | 416,769 | 926,064 | 748,254 | 600,610 | 719,851 | 3,950,398 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $9.70 | $2.31 | $2.85 | $0 | $3.04 | $3.39 | $3.86 | $3.94 | $6.38 | $16.29 | $23.62 | $9.70 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '6 years 2 months 5 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | ' | ' | ' | ' | 71,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | $100,000 | $2,000,000 | $400,000 | $2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans - Restricted Stock Units and Restricted Stock Activity (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 2,550,799 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,100,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | -654,619 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -360,995 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 2,635,185 | 2,550,799 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $7.92 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $2.84 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $5.91 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value | $3.92 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $4.20 | $7.92 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Term | '1 year 0 months 18 days | '1 year 3 months 18 days |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Term | '1 year 0 months 18 days | '1 year 3 months 18 days |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest | 2,389,722 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Weighted Average Grant Date Fair Value | $4.20 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested and Expected to Vest , Weighted Average Remaining Contractual Term | '11 months 23 days | ' |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans - Stock-Based Compensation Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $4,433,000 | $5,965,000 | $13,611,000 | $21,400,000 |
Research and Development Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | 1,132,000 | 1,450,000 | 3,428,000 | 4,521,000 |
Sales General and Administrative Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | 3,301,000 | 4,515,000 | 10,183,000 | 16,879,000 |
Non Employee Share Based Compensation [Member] | Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 1.20% | 1.30% | 1.40% | 1.50% |
Expected term (in years) | '4 years | '6 years 10 months 24 days | '5 years 3 months 26 days | '7 years 1 month 6 days |
Expected volatility | 81.00% | 79.00% | 82.00% | 77.00% |
Employee Share Based Compensation [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 18,000,000 | ' | 18,000,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '2 years 10 months 2 days | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 1.60% | 0.90% | 1.40% | 1.10% |
Expected term (in years) | '6 years 1 month 6 days | '5 years 10 months 24 days | '6 years 1 month 6 days | '6 years |
Expected volatility | 81.00% | 79.00% | 82.00% | 76.00% |
Employee Share Based Compensation [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $5,300,000 | ' | $5,300,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '1 year 7 months 2 days | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 27, 2013 | Jan. 11, 2013 | Dec. 24, 2012 | Feb. 29, 2012 | Dec. 24, 2012 | 31-May-12 | Feb. 29, 2012 | Aug. 31, 2013 | Sep. 30, 2013 | Jul. 30, 2012 | Jul. 31, 2013 | Jul. 26, 2013 | Jun. 30, 2013 | Jun. 06, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Aug. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 16, 2013 | Oct. 31, 2013 | |
Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Revenue from Research and Devolopment [Member] | Revenue from Research and Devolopment [Member] | Revenue from Research and Devolopment [Member] | Revenue from Research and Devolopment [Member] | Maximum [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Cancellation of the Temasek Bridge Note [Member] | ||||||
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | July 2013 Convertible Notes [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | Novvi LLC [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | Temasek Bridge Note [Member] | Maximum [Member] | Subsequent Event [Member] | ||||||||||||||||
August 2013 Convertible Notes [Member] | Temasek Bridge Note [Member] | ||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | 1,533,742 | 5,033,557 | ' | ' | 14,177,849 | 1,736,100 | 10,160,325 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Price Per Share, New Issues | ' | ' | ' | ' | ' | $3.26 | ' | $2.98 | ' | ' | $2.36 | $5.78 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | ' | ' | $19,979,000 | ' | ' | ' | ' | ' | ' | ' | $4,100,000 | $58,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beneficial Owner, Ownership Percentage of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Private Placement | ' | ' | 19,981,000 | 62,490,000 | ' | 5,000,000 | ' | 37,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment to purchase company common stock | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' | ' |
Debt Instrument, Interest Rate, Stated Default Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105,000,000 | 20,000,000 | 20,000,000 | 10,000,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | 73,000,000 | ' | ' | 51,800,000 | ' |
Bridge Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000,000 | ' | 35,000,000 |
Future Cancellation Of Debt, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,200,000 | ' | ' | 35,000,000 |
Revenue from Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,100,000 | ' | 0 | 0 | 2,600,000 | 0 | ' | ' | ' | ' | ' |
Related party accounts receivable | 1,022,000 | ' | 1,022,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 1,100,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related party grants and collaborations revenue | $0 | $9,775,000 | $2,647,000 | $9,775,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Narrative_Details
Income Taxes - Narrative (Details) | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | Amyris Brasil S.A. Subsidiary [Member] | Amyris Brasil S.A. Subsidiary [Member] | |
USD ($) | BRL | |||||
Income Tax Contingency [Line Items] | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit), Continuing Operations | ($1.40) | $0.30 | ($1) | $0.80 | $1.60 | ' |
Debt Instrument, Face Value, Loans Converted to Equity | ' | ' | ' | ' | $40.20 | 89.7 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
business_activity | business_activity | |||||||
segment_manager | segment_manager | |||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |||
Segment Reporting, Number of Business Activities | 1 | ' | 1 | ' | ' | |||
Segment Reporting, Number of Segment Managers Held Accountable | 0 | ' | 0 | ' | ' | |||
Revenues | $7,004 | $19,108 | $25,722 | $67,840 | ' | |||
Long-Lived Assets | 140,718 | ' | 140,718 | ' | 163,121 | |||
United States [Member] | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |||
Revenues | 2,037 | 3,905 | 12,060 | 46,807 | ' | |||
Long-Lived Assets | 56,558 | [1] | ' | 56,558 | [1] | ' | 70,085 | [1] |
Brazil [Member] | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |||
Revenues | 1,046 | 1,053 | 3,123 | 2,741 | ' | |||
Long-Lived Assets | 82,649 | [1] | ' | 82,649 | [1] | ' | 91,170 | [1] |
Europe [Member] | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |||
Revenues | 2,829 | 12,452 | 7,059 | 15,785 | ' | |||
Long-Lived Assets | 1,511 | ' | 1,511 | ' | 1,866 | |||
Asia [Member] | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |||
Revenues | $1,092 | $1,698 | $3,480 | $2,507 | ' | |||
[1] | Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Such reclassifications did not change previously reported consolidated financial statements. |
Comprehensive_Income_Loss_Deta
Comprehensive Income (Loss) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Equity [Abstract] | ' | ' |
Foreign currency translation adjustment, net of tax | ($16,961) | ($12,807) |
Total accumulated other comprehensive loss | ($16,961) | ($12,807) |
Net_Loss_Attributable_to_Commo2
Net Loss Attributable to Common Stockholders and Net Loss per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Net loss attributable to Amyris, Inc. common stockholders (in dollars) | ($24,199) | ($20,293) | ($95,689) | ($161,647) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted (in shares) | 76,205,853 | 58,964,226 | 75,167,877 | 55,552,949 |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | ($0.32) | ($0.34) | ($1.27) | ($2.91) |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 31,903,437 | 21,157,472 | 31,903,437 | 21,157,472 |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 9,136,514 | 8,345,400 | 9,136,514 | 8,345,400 |
Convertible Notes Payable [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 20,110,650 | 11,077,785 | 20,110,650 | 11,077,785 |
Common Stock Subject to Repurchase [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1 | 301 | 1 | 301 |
Warrant [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 21,087 | 21,087 | 21,087 | 21,087 |
Restricted Stock [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,635,185 | 1,712,899 | 2,635,185 | 1,712,899 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | Sep. 30, 2013 | Jul. 30, 2012 | Dec. 02, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Aug. 31, 2013 | Sep. 30, 2013 | Oct. 31, 2013 | Aug. 31, 2013 | Oct. 31, 2013 | Aug. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Aug. 31, 2013 | Oct. 16, 2013 |
Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Unsecured Senior Convertible Promissory Notes [Member] | Temasek Bridge Note [Member] | Temasek Bridge Note [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | First Tranche [Member] | First Tranche [Member] | Second Tranche [Member] | Second Tranche [Member] | First and Second Tranche [Member] | Maximum [Member] | Maximum [Member] | |
Subsequent Event [Member] | Subsequent Event [Member] | Cancellation of the Temasek Bridge Note [Member] | Subsequent Event [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | August 2013 Convertible Notes [Member] | |||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||
l | |||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible Promissory Note, Held by Third Party | ' | ' | $48,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | $7.07 | $7.07 | $2.20 | ' | ' | ' | ' | ' | ' | $2.44 | ' | $2.87 | ' | ' | ' |
Debt Instrument, Convertible Conversion, Minimum Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 months | ' | '12 months | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Event Date Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.15 | ' | ' | ' | ' | ' |
Plant Manufacturing Production, Volume | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' |
Plant Manufacturing Production, Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '45 days | ' | ' | ' | ' | ' |
Plant Manufacturing Production, Product Sales, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Milestone Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.87 | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Interest Accrued for Six Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Interest Accrued for Three Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | ' | 13.00% | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Interest Accrued Thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | 16.00% | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Interest Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 months | ' | '36 months | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Interest Accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' |
Bridge Loan | ' | ' | ' | 35,000,000 | 35,000,000 | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Future Cancellation Of Debt, Amount | ' | ' | ' | ' | 35,000,000 | 13,000,000 | ' | 44,200,000 | 7,600,000 | 7,600,000 | 5,400,000 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 1.50% | ' | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Amended Additional Investor Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 | ' | ' | ' | ' | ' |
Debt Instrument, Amended Promissory Note, Amount | ' | ' | ' | ' | ' | ' | ' | 14,600,000 | ' | 9,200,000 | ' | 5,400,000 | ' | ' | ' |
Debt Instrument, Face Amount | ' | $105,000,000 | ' | ' | ' | ' | ' | ' | $42,600,000 | ' | $30,400,000 | ' | ' | $73,000,000 | $51,800,000 |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 months | ' | '5 years | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price, Interest Accrued for Defaults | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | ' | 12.00% | ' | ' | ' |
Percentage of Principal Amount of Notes, Required to Be Repaid In Change of Control | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' |