Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 05, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | BioAmber Inc. | |
Entity Central Index Key | 1,534,287 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 25,857,671 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Statement [Abstract] | ||||
Product sales | $ 341,900 | $ 414,600 | $ 709,149 | $ 765,261 |
Cost of goods sold excluding depreciation and amortization | 752,323 | 2,251,101 | 1,062,412 | 2,530,961 |
Gross loss | (410,423) | (1,836,501) | (353,263) | (1,765,700) |
Operating expenses | ||||
General and administrative | 2,963,708 | 2,865,175 | 5,591,273 | 5,784,238 |
Research and development, net | 4,959,725 | 4,258,554 | 9,568,470 | 7,572,803 |
Sales and marketing | 1,124,185 | 1,737,458 | 2,276,907 | 2,848,860 |
Depreciation of property and equipment and amortization of intangible assets | 92,854 | 59,909 | 164,694 | 119,583 |
Write-off of intangible assets ( Note 5) | 1,141,000 | 1,141,000 | ||
Foreign exchange loss (gain) | 202,181 | (379,442) | 258,133 | (211,814) |
Operating expenses | 10,483,653 | 8,541,654 | 19,000,477 | 16,113,670 |
Operating loss | 10,894,076 | 10,378,155 | 19,353,740 | 17,879,370 |
Amortization of deferred financing costs and debt discounts | 91,810 | 71,909 | 158,060 | 144,709 |
Financial charges (income), net (Note 9) | 3,828,765 | 3,870,799 | 4,259,575 | 16,223,520 |
Equity participation in losses of equity method investments (Note 2) | (162) | (108) | ||
Other expense (income), net | 517 | (185,000) | (21,050) | (185,000) |
Loss before income taxes | 14,815,169 | 14,135,701 | 23,750,325 | 34,062,491 |
Income taxes (Note 13) | 10,603 | 9,439 | 43,923 | 34,690 |
Net loss | 14,825,772 | 14,145,140 | 23,794,248 | 34,097,181 |
Net loss attributable to: | ||||
BioAmber Inc. shareholders | 14,025,558 | 13,992,561 | 22,283,740 | 33,903,606 |
Non-controlling interest | 800,214 | 152,579 | 1,510,508 | 193,575 |
Net loss | $ 14,825,772 | $ 14,145,140 | $ 23,794,248 | $ 34,097,181 |
Net loss per share attributable to BioAmber Inc. shareholders - basic | $ 0.58 | $ 0.75 | $ 0.97 | $ 1.83 |
Weighted-average of common shares outstanding - basic | 24,283,275 | 18,574,690 | 23,067,190 | 18,567,213 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Comprehensive Income Net Of Tax [Abstract] | ||||
Net loss | $ 14,825,772 | $ 14,145,140 | $ 23,794,248 | $ 34,097,181 |
Foreign currency translation adjustment | (1,719,473) | (1,378,656) | 5,166,361 | (530,548) |
Total comprehensive loss | 13,106,299 | 12,766,484 | 28,960,609 | 33,566,633 |
Total comprehensive loss attributable to: | ||||
BioAmber Inc. shareholders | 14,370,876 | 12,972,600 | 24,156,177 | 33,473,419 |
Non-controlling interest | (1,264,577) | (206,116) | 4,804,432 | 93,214 |
Total comprehensive loss | $ 13,106,299 | $ 12,766,484 | $ 28,960,609 | $ 33,566,633 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash | $ 48,665,225 | $ 51,042,752 |
Accounts receivable | 406,559 | 476,851 |
Inventories (Note 3) | 1,312,228 | 1,801,826 |
Prepaid expenses and deposits (Note 3) | 903,307 | 765,539 |
Valued added tax, income taxes and other receivables | 3,442,468 | 3,005,153 |
Total current assets | 54,729,787 | 57,092,121 |
Property and equipment, net (Note 4) | 126,962,707 | 88,664,899 |
Investment in equity method and cost investments (Note 2) | 447,682 | 34,817 |
Intangible assets, net (Note 5) | 5,313,260 | 4,332,911 |
Goodwill | 625,364 | 625,364 |
Restricted cash | 607,050 | 646,500 |
Deferred financing costs (Note 7) | 1,386,472 | 1,043,788 |
Total assets | 190,072,322 | 152,440,400 |
Current liabilities | ||
Accounts payable and accrued liabilities (Note 6) | 17,172,075 | 16,459,918 |
Income taxes payable (Note 13) | 204,181 | 204,096 |
Accounts payable Agro-industries Recherches et Développements (“ARD”) | 983,465 | |
Deferred grants (Note 8) | 5,161,808 | 2,274,802 |
Short-term portion of long-term debt (Note 7) | 12,025,123 | 2,977,707 |
Total current liabilities | 34,563,187 | 22,899,988 |
Long-term debt (Note 7) | 46,186,934 | 34,653,101 |
Warrants financial liability (Note 12) | 15,776,000 | 13,040,000 |
Other long-term liabilities | 458,622 | 127,500 |
Total liabilities | $ 96,984,743 | $ 70,720,589 |
Commitments and contingencies (Note 10) | ||
Redeemable non-controlling interest (Note 11) | $ 25,358,535 | $ 24,190,412 |
Shareholders’ equity | ||
Common stock: $0.01 par value per share; 250,000,000 authorized, 25,857,671 and 21,836,046 issued and outstanding at June 30, 2015 and December 31, 2014, respectively | 258,576 | 218,360 |
Additional paid-in capital | 256,528,245 | 220,460,559 |
Warrants | 2,867,170 | 2,949,018 |
Accumulated deficit | (183,749,650) | (161,465,910) |
Accumulated other comprehensive loss | (8,175,297) | (4,632,628) |
Total BioAmber Inc. shareholders’ equity | 67,729,044 | 57,529,399 |
Total liabilities and equity | $ 190,072,322 | $ 152,440,400 |
Consolidated Balance Sheets (U5
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 25,857,671 | 21,836,046 |
Common stock, shares outstanding | 25,857,671 | 21,836,046 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) | Total | Common stock | Additional paid-in capital | Warrants | Accumulated deficit | Accumulated other comprehensive loss | Non-controlling interest |
Balance at Dec. 31, 2013 | $ 67,133,845 | $ 185,584 | $ 177,275,934 | $ 2,964,335 | $ (115,043,950) | $ (373,983) | $ 2,125,925 |
Balance, shares at Dec. 31, 2013 | 18,558,369 | 1,312,301 | |||||
Stock-based compensation (Note 12) | 6,949,205 | 6,949,205 | |||||
Reclassification of non-controlling interest to redeemable non-controlling interest (Note 11) | (2,125,925) | $ (2,125,925) | |||||
Issuance of shares , net of issuance costs | 36,059,908 | $ 32,200 | 36,027,708 | ||||
Issuance of shares, shares | 3,220,000 | ||||||
Warrants exercised/expired | 8,116 | $ 269 | 23,164 | $ (15,317) | |||
Warrants exercised/expired, shares | 26,976 | (63,175) | |||||
Stock options exercised | 184,855 | $ 307 | 184,548 | ||||
Stock options exercised, shares | 30,701 | ||||||
Net loss | (46,421,960) | (46,421,960) | |||||
Foreign currency translation | (4,258,645) | (4,258,645) | |||||
Balance at Dec. 31, 2014 | 57,529,399 | $ 218,360 | 220,460,559 | $ 2,949,018 | (161,465,910) | (4,632,628) | |
Balance, shares at Dec. 31, 2014 | 21,836,046 | 1,249,126 | |||||
Stock-based compensation (Note 12) | 3,012,813 | 3,012,813 | |||||
Issuance of shares , net of issuance costs | 32,780,069 | $ 39,000 | 32,741,069 | ||||
Issuance of shares, shares | 3,900,000 | ||||||
Warrants exercised/expired | 152,812 | $ 1,076 | 233,584 | $ (81,848) | |||
Warrants exercised/expired, shares | 107,625 | (107,695) | |||||
Stock options exercised | $ 80,360 | $ 140 | 80,220 | ||||
Stock options exercised, shares | 14,000 | 14,000 | |||||
Net loss | $ (22,283,740) | (22,283,740) | |||||
Foreign currency translation | (3,542,669) | (3,542,669) | |||||
Balance at Jun. 30, 2015 | $ 67,729,044 | $ 258,576 | $ 256,528,245 | $ 2,867,170 | $ (183,749,650) | $ (8,175,297) | |
Balance, shares at Jun. 30, 2015 | 25,857,671 | 1,145,555 | |||||
Warrants adjustment (Note 12) | 4,124 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities | ||
Net loss | $ (23,794,248) | $ (34,097,181) |
Adjustments to reconcile net loss to cash: | ||
Stock-based compensation | 3,012,813 | 4,521,641 |
Depreciation of property and equipment and amortization of intangible assets | 164,694 | 119,583 |
Write-off of intangible assets (Note 5) | 1,141,000 | |
Amortization of deferred financing costs and debt discounts | 158,060 | 144,709 |
Equity participation in losses of equity method investments (Note 2) | (108) | |
Other long-term liabilities | 25,147 | 22,500 |
Financial charges (income), net | 3,079,750 | 15,114,362 |
Changes in operating assets and liabilities | ||
Change in accounts receivable | 70,374 | 127,479 |
Change in inventories | 489,020 | (1,562,258) |
Change in prepaid expenses and deposits | (163,090) | 1,252,076 |
Change in valued added tax, income taxes and other receivables | (530,725) | (1,246,416) |
Change in accounts payable to ARD | (983,465) | 2,606,462 |
Change in accounts payable and accrued liabilities | 1,760,106 | 5,046,282 |
Net cash used in operating activities | (15,570,564) | (7,950,869) |
Cash flows from investing activities | ||
Acquisition of property and equipment and intangible asset | (52,433,486) | (32,728,279) |
Change in restricted cash | (678,450) | |
Capital investment in cost investment (Note 2) | (412,433) | 675,000 |
Net cash used in investing activities | (52,845,919) | (32,731,729) |
Cash flows from financing activities | ||
Deferred financing costs | (490,477) | (561,100) |
Issuance of long-term debt (Note 7) | 21,967,288 | 2,191,218 |
Government grants (Note 8) | 7,946,840 | 792,111 |
Net proceeds from issuance of common shares | 33,114,135 | 143,990 |
Proceeds from issuance of shares by a subsidiary (Note 11) | 4,302,196 | 8,120,700 |
Net cash provided by financing activities | 66,839,982 | 10,686,919 |
Foreign exchange impact on cash | (801,026) | 571,096 |
Decrease in cash | (2,377,527) | (29,424,583) |
Cash, beginning of period | 51,042,752 | 83,728,199 |
Cash, end of period | 48,665,225 | 54,303,616 |
Non-cash transactions: | ||
Deferred financing costs related to the second public offering not yet paid | 60,000 | 93,559 |
Construction in Progress costs not yet paid | 12,323,000 | 8,113,000 |
Amortization of debt discounts and interests capitalized to CIP | $ 1,255,600 | $ 303,635 |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | 1. Summary of significant accounting policies Basis of presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with SEC rules and regulations and using the same accounting policies as described in Note 2 of the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Accordingly, these unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management bases its estimates on various assumptions and historical experience, which are believed to be reasonable; however, due to the inherent nature of estimates, actual results may differ significantly due to changed conditions or assumptions. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of results to be expected for the fiscal year ended December 31, 2015 or any other future period. Risk and uncertainties BioAmber is an industrial biotechnology company producing sustainable chemicals and the Company has not yet commenced its planned, principal operations. The Company’s principal operations will start once commercial production begins at the Sarnia, Ontario facility, currently under construction. The Company’s activities since inception have consisted principally of raising capital for performing research and development activities, developing market producing and selling bio-succinic acid from a , and building its Sarnia facility. Ultimately, the Company believes that the attainment of profitable operations is dependent upon future events, including in Sarnia, Ontario, , obtaining adequate financing to complete its development activities, and attracting and retaining qualified personnel. Net loss per share The Company computes net loss per share in accordance with FASB ASC 260, Earnings Per Share, Recently adopted and recently issued accounting guidance In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, "Revenue Recognition - Revenue from Contracts with Customers," which is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP. The standard is effective for interim and annual periods beginning after December 15, 2017, and either full retrospective adoption or modified retrospective adoption is permitted. The Company is in the process of evaluating the impact of the standard. In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," |
Equity and Cost Investments
Equity and Cost Investments | 6 Months Ended |
Jun. 30, 2015 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Equity and Cost Investments | 2. Equity and Cost Investments AmberWorks had a net loss of $nil and $(324), for the three months ended June 30, 2015 and 2014, respectively. Sinoven’s share of the net loss amounted to $nil and $(162) for those periods, respectively. AmberWorks had a net loss of $nil and $(216) for the six months ended June 30, 2015 and 2014, respectively. Sinoven’s share of the net loss amounted to $nil and $(108) for those periods, respectively. AmberWorks had total assets of $70,496 and $69,634 and total liabilities of nil as of June 30, 2015 and December 31, 2014, respectively. Sinoven’s share of net assets amounted to $35,248 and $34,817 as of those periods, respectively. On May 6, 2014, AmberWorks made a capital distribution totaling $1,350,000, to our wholly-owned subsidiary, Sinoven and a third-party, NatureWorks LLC, both 50% holders of the joint venture, in proportion of their respective investments in the joint venture. This distribution was in the form of cash and was recorded as a reduction of investment. On February 5, 2015, the Company invested $412,434 (CAD$ 500,000) in a start-up private company, which represents a 6.6% ownership interest. |
Inventories and Prepaid expense
Inventories and Prepaid expenses and deposits | 6 Months Ended |
Jun. 30, 2015 | |
Inventory Disclosure [Abstract] | |
Inventories and Prepaid expenses and deposits | 3. Inventories and Prepaid expenses and deposits The Company had approximately $1,312,228, and $1,801,826 of finished goods inventory as of June 30, 2015 and December 31, 2014, respectively. The Company recorded an inventory reserve of approximately $300,000 in the three and six months ended June 30, 2015. The Company had approximately $903,307 million and $765,539 of prepaid expenses and deposits as of June 30, 2015 and December 31, 2014 respectively, which was comprised primarily of deposits made to secure the purchase of equipment and advances for the construction of the manufacturing facility in Sarnia, Ontario. |
Property and equipment
Property and equipment | 6 Months Ended |
Jun. 30, 2015 | |
Property Plant And Equipment [Abstract] | |
Property and equipment | 4. Property and equipment Estimated Useful June 30, December 31, Life 2015 2014 (years) $ $ Land 272,632 290,349 Furniture and fixtures 5 - 8 113,212 77,448 Machinery and equipment 5 - 15 1,283,684 1,215,561 Computers, office equipment and peripherals 3 - 7 199,431 134,248 Leasehold improvement 7 - 10 369,117 12,342 Construction in-progress 145,554,611 101,664,351 Grants applied to construction in-progress (20,369,861 ) (14,362,312 ) 127,422,826 89,031,987 Less: accumulated depreciation (460,119 ) (367,088 ) Property and equipment, net 126,962,707 88,664,899 Depreciation expense is recorded as an operating expense in the consolidated statements of operations and amounted to $72,740 and $59,909 for the three months ended June 30, 2015 and 2014, respectively, and to $132,918 and $119,583 for the six months ended June 30, 2015 and 2014 respectively. |
Intangible assets
Intangible assets | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible assets | 5. Intangible assets June 30, December 31, 2015 2014 $ $ Intellectual property, patents and licenses: Beginning balance 4,528,739 4,528,739 Addition of license 2,017,182 — 6,545,921 4,528,739 Less: accumulated amortization (4,528,739 ) (4,528,739 ) Intellectual property, patents and licenses, net 2,017,182 — Acquired in-process research and development 4,158,550 4,158,550 Write-off of license acquired (1,141,000 ) — 3,017,550 — Computer software and license 414,699 279,201 Less: accumulated depreciation (136,171 ) (104,840 ) Intangible assets, net 5,313,260 4,332,911 Amortization expense is recorded as an operating expense in the consolidated statements of operations and amounted to $20,114 and nil for the three months ended June 30, 2015 and 2014, respectively and to $31,776 and $nil for the six months ended June 30, 2015 and 2014 respectively. On December 11, 2014, we entered into a license agreement with Johnson Matthey Davy Technologies (Davy). We intend to use the technology licensed from Davy in our planned 100,000 ton per year capacity plant that will use bio-succinic acid as the feedstock to produce 70,000 tons of BDO and 30,000 tons of THF. We also secured the right to license the Davy technology for two additional BDO/THF plants. As of June 30, 2015, an amount of $2,017,182 was capitalized as license fee under Davy’s license. On April 20, 2015, the Company elected to terminate its license with DuPont for their catalysts following the decision to pursue with the BDO technology licensed from Davy for all future plants, in addition to the planned 100,000 ton per year capacity plant. As a result, the carrying value of the DuPont license of $1,141,000 was written off during the three months ended June 30, 2015. |
Accounts payable and accrued li
Accounts payable and accrued liabilities | 6 Months Ended |
Jun. 30, 2015 | |
Payables And Accruals [Abstract] | |
Accounts payable and accrued liabilities | 6. Accounts payable and accrued liabilities Accounts payable and accrued liabilities consisted of the following: June 30, December 31, 2015 2014 $ $ Trade accounts payable 14,043,285 13,184,825 Accrued payroll and bonus 1,865,736 2,232,590 Consulting and legal fees 760,471 614,993 Other 502,583 427,510 Total 17,172,075 16,459,918 |
Long-term debt
Long-term debt | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Long-term debt | 7. Long-term debt Project Financing The Company entered into the following facilities to fund the construction of the manufacturing facility in Sarnia, Ontario: i) Sustainable Jobs and Investment Fund (“SJIF”) On September 30, 2011, BioAmber Sarnia Inc. (“BioAmber Sarnia”) and the Minister of Economic Development and Trade of Ontario, Canada (Sustainable Jobs Innovation Fund) entered into an agreement pursuant to which a loan in the amount of CAD$15,000,000, or $12,141,000 when converted into U.S. dollars as of June 30, 2015, was granted to BioAmber Sarnia, according to the following principal terms: the loan is interest free during the first five years provided BioAmber Sarnia creates or retains an average of 31 jobs per year, calculated on an annual basis; the loan will bear interest from the fifth anniversary date of its disbursement at an annual rate of 3.98% (or 5.98% if BioAmber Sarnia does not fully achieve the cumulative job target for the first five years); the principal will be repayable in five annual equal installments from the sixth anniversary date of the disbursement of the loan; the loan is secured by a guarantee from BioAmber and Mitsui & Co., Ltd., the non-controlling shareholder of BioAmber Sarnia (the guarantee being limited to its percentage of ownership held in BioAmber Sarnia); and the loan is secured by (i) a general security agreement representing a valid charge on BioAmber Sarnia’s present and future accounts receivable, inventory, equipment and other personal property and (ii) a valid charge against the leasehold interest on the portion of the real property located in Sarnia Ontario, Canada and leased to BioAmber Sarnia. As of June 30, 2015, all disbursements were received for a total of CAD$15,000,000, or $12,141,000 when converted into U.S. dollars as of June 30, 2015. The fair value of the loan was calculated using the method of the discounted future cash payments of principal and interest over the term of the loan. The discount rate used was between 12% and 15%, being the interest rates a loan with similar terms and conditions would carry. The difference between the face value of the loan and the discounted amount of the loan was recorded as a short-term deferred grant and subsequently reclassified to reduce the cost of construction in-progress. The discounted loan is being accreted to its face value through a charge in the consolidated statement of operations using the effective interest method over the term of the loan. ii) Sustainable Chemistry Alliance (“SCA”) In November 2011, BioAmber Sarnia entered into a loan agreement with SCA in the amount of CAD$500,000, or $404,700 when converted into U.S. dollars as of June 30, 2015. The loan was interest free until November 30, 2013, and the unpaid balance of the loan subsequently bears interest at the rate of 5% per annum compounded monthly. The principal repayment will be effected by way of 20 consecutive quarterly installments of CAD$25,000 from November 2015 to November 2020. The loan agreement contains various legal and financial covenants including i) third party credit facilities which cannot exceed CAD$45 million in the aggregate as long as any principal of the loan remains outstanding, ii) the funds are to be used for research and development expenses only and iii) dividends may not be declared or paid without the consent of the lender. In July 2014, the loan agreement was amended to increase the third party credit facilities from CAD$45 million in the aggregate as described above, to CAD$60 million in the aggregate. These covenants were met as of June 30, 2015. The loan was originally recorded at $209,940 when converted into U.S. dollars as of June 30, 2015, being the discounted amount of the future cash payments of principal and interest over the term of the loan. The discount rate used was 15%, being the interest rate a loan with similar terms and conditions would carry. The difference between the face value of the loan and the discounted amount of the loan of $194,760 was recorded as a deferred grant (see Note 8). The discounted loan is being accreted to its face value through a charge in the consolidated statement of operations using the effective interest method over the term of the loan. iii) Federal Economic Development Agency (“FEDDEV”) On September 30, 2011, BioAmber Sarnia and FEDDEV entered into a contribution agreement pursuant to which a loan of up to a maximum amount of CAD$12,000,000 or $9,712,800 when converted into U.S. dollars as of June 30, 2015, was granted to BioAmber Sarnia. The loan is non-interest bearing with original repayment of principal from October 2013 to October 2018 in 60 monthly installments. The repayment terms were later modified as described below. The loan agreement contains various legal and financial covenants ordinarily found in such government agency loan agreements. In addition the following specific covenants also apply: (a) the Company will carry appropriate amounts of liability and casualty insurance during the duration of the loan agreement; (b) the Company will file for and obtain all necessary permits and licenses from all required jurisdictional authorities in order to build the facility; (c) the Company will not alter the project nor project management without prior written consent of the Minister; (d) the Company will complete the project to the Minister’s satisfaction by the completion date; and (e) the Company will not allow change of control without prior written consent of the Minister. These covenants were met as of June 30, 2015. On March 20, 2013, the BioAmber Sarnia agreed with FEDDEV to amend the repayment of principal from the period October 2013 to October 2018, to the period October 2014 to October 2019. The Company recorded the impact of the amendment in accordance with FASB ASC 470-50, Debt Modifications and Extinguishments During May 2014, the BioAmber Sarnia agreed with FEDDEV to amend the repayment of principal from the period October 2014 to October 2019, to the period from October 2015 to October 2020. The Company recorded the impact of the amendment in accordance with FASB ASC 470-50, Debt Modifications and Extinguishments During the three months ended March 31, 2015, BioAmber Sarnia received the final disbursement and the release of the holdback, for a total of CAD$1,445,000, or $1,169,610 when converted into U.S. dollars as of June 30, 2015. This amount was originally recorded at $824,158 when converted into U.S. dollars as of June 30, 2015, being the discounted amount of the future cash payments of principal and interest over the term of the loan. The discount rate used was 12%, being the interest rate a loan with similar terms and conditions would carry. The difference between the face value of the loan and the discounted amount of the loan of $345,452 when converted into U.S. dollars as of June 30, 2015 was recorded as a grant and applied as reduction of the cost of construction in progress. The discounted loan is being accreted to its face value through a charge in the consolidated statement of operations using the effective interest method over the term of the loan. iv) Hercules Technology Growth Capital, Inc. (“HTGC”) On June 27, 2013, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with HTGC. Pursuant to the Loan Agreement, HTGC agreed to make a senior secured term loan of $25 million, which was funded on June 27, 2013, net of a 2.5% loan fee. The term loan is repayable over 36 months after closing, at a floating interest rate per annum based on the greater of (a) 10% and (b) the prime rate (as reported in the Wall Street Journal) plus 6.75% and is subject to an end of term charge of 11.5% based on the $25 million loaned amount ($2,875,000). There was an initial interest-only period until January 1, 2014, to be extended until July 1, 2014 in the event that the Company received an additional equity contribution by its joint venture partner of at least $1.5 million relating to its planned Sarnia facility by December 31, 2013, which was subsequently extended to January 31, 2014 pursuant to an amendment dated December 20, 2013. On January 24, 2014, the Company received the additional equity contribution from Mitsui of CAD $9 million, and fulfilled the condition to extend the initial interest-only period until July 1, 2014. At its option, the Company may prepay some or all of the loan balance, subject to a prepayment fee equal to 2% of the amount prepaid during the first 12 months after closing, 1% after 12 months but prior to 24 months after closing, and without prepayment fee thereafter. In addition, the Company is obligated to pay an end of term charge (as referenced above) in the amount of $2,875,000 on the date on which the term loan is paid or becomes due and payable in full, which is being accreted over the expected term of the loan. On December 17, 2014, the Company voluntarily paid off the outstanding balance and terminated the Loan Agreement. The payoff amount of $22.4 million included the outstanding principal amount of $19.2 million, an end of term charge of $2.9 million, a prepayment fee of $192,000, accrued interest of $123,000, and other legal fees. In connection with such repayment, Hercules terminated its security interest in the assets of the Company which were subject to the Loan Agreement. The Company used the proceeds received from Tennenbaum Capital Partners LLC loan (refer to Note 7 vii)) to repay the existing debt with HTGC. The Company recorded the impact of the loan termination in accordance with FASB ASC 470-50, Debt Modifications and Extinguishments . Accordingly, the difference between the net carrying amount of the extinguished debt and the reacquisition price of the new debt was recorded as a debt extinguishment. As a result, the Company recognized a loss on debt extinguishment of $622,179 for the year ended December 31, 2014. v) Minister of Agriculture and Agri-Food of Canada (“AAFC”) On March 10, 2014, BioAmber Sarnia entered into a repayable contribution agreement in the form of a non-interest bearing loan with the Minister of Agriculture and Agri-Food of Canada in the amount of CAD$10 million, or $8,094,000 when converted into U.S. dollars as of June 30, 2015, for the AgriInnovation Program. This loan provides for progressive disbursements as eligible costs are incurred for building construction, installation of equipment and start-up and commissioning of the Sarnia facility. The loan is repayable in equal, monthly installments beginning March 31, 2016 through March 31, 2025 and it contains various legal and financial covenants ordinarily found in such government agency loan agreements. These covenants were met as of June 30, 2015. During the three months ended March 31, 2015, BioAmber Sarnia received the third and last disbursement for CAD$2,745,000 or, 2,221,523 when converted in U.S. dollars as of June 30, 2015. The loan was originally recorded at $1,197,288 when converted into U.S. dollars as of June 30, 2015, being the discounted amount of the future cash payments of principal and interest over the term of the loan. The discount rate used was 12%, being the interest rate a loan with similar terms and conditions would carry. The difference between the face value of the loan and the discounted amount of the loan of $1,024,235 when converted into U.S. dollars as of June 30, 2015 was recorded as a grant applied as reduction of such cost of construction in-progress. vi) Comerica Bank, On June 20, 2014, BioAmber Sarnia signed a loan agreement with a financial consortium, comprised of Comerica Bank, Export Development Canada and Farm Credit Canada for a senior secured loan in the principal amount of CAD$20.0 million. The loan bears interest at a floating interest rate per annum based on the greater of (i) the Canadian prime rate and (ii) the Canadian dealer offered rate plus 1%, in either case plus an interest spread of 5%, subject to a reduction to 4% under certain circumstances. There will be an initial interest-only period from draw down of the term loan until the first payment of principal. The loan’s principal will be repaid in 26 equal, quarterly installments beginning on September 30, 2015. The disbursement of the loan, net of the 2.5% upfront fee of CAD$500,000, or $404,700 when converted into U.S. dollars as of June 30, 2015, over the estimated term of the loan using the effective interest method , being the discounted amount of the future cash payments of principal and interest over the term of the loan. The discount rate used was 12%, being the interest rate a loan with similar terms and conditions would carry. The difference between the face value of the loan and the discounted amount of the loan of $1,899,534 when converted into U.S. dollars as of June 30, 2015, was recorded as a grant applied as reduction of the cost of construction in-progress in the amount of $792,801, and an amount of $1,106,808 was deferred until the associated costs are incurred. BioAmber Sarnia may prepay all or a portion of the loan outstanding from and after the date of the first principal repayment, without penalty. BioAmber Sarnia’s obligations under the loan are secured by (i) a security interest on all of BioAmber Sarnia’s assets and (ii) a pledge of all the shares of BioAmber Sarnia. In addition, the Company will provide the lenders with a guarantee representing 70% of the secured obligations under the loan, and Mitsui & Co., Ltd. will provide a guarantee representing 30% of the secured obligations under the loan that is capped at CAD$6.0 million plus all accrued interest on the secured obligations and fees and expenses. The proceeds of the loan will be used by BioAmber Sarnia to complete the ongoing construction of the Sarnia Plant and fund its startup and commissioning. The loan agreement contains certain representations and warranties, affirmative covenants, negative covenants and conditions that are customarily required for similar financings, including in connection with the disbursement of the loan. The financial covenants require BioAmber Sarnia to maintain a minimum debt service ratio of 1.75 on a historical basis, at the end of any and each quarter during the term of the loan following the commercial operation date of Sarnia facility. The agreement also contains customary events of default (subject, in certain instances, to specified grace periods) including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal under the loan, the failure to comply with certain covenants and agreements specified in the agreement, the occurrence of a material adverse effect, defaults in respect of certain other indebtedness and agreements, and certain events of insolvency. If an event of default occurs, the principal, premium, if any, interest and any other monetary obligations on all the then outstanding amounts under the loan may become due and payable immediately. As of June 30, 2015, the balance of deferred financing cost associated with this transaction was $1,200,098 and is being amortized over the estimated term of the loan. vii) Tennenbaum Capital Partners, LLC (“TCP”) On December 17, 2014, the Company entered into a Loan and Security Agreement (the “Agreement”) with funds managed by TCP. The proceeds received were used to repay in full, the Loan and Security Agreement with HTGC that was entered into on June 27, 2013, and for general corporate purposes. Pursuant to the Agreement, TCP agreed to make a senior secured term loan of $25 million (the “Facility”), which was funded on December 18, 2014, net of a 2.0% commitment fee. The term loan is repayable over 36 months after closing at a floating interest rate per annum that is the greater of 9.50% or the 3 month LIBOR rate plus 9.27%, and is subject to an end of term charge of 8.25% based on the $25 million loaned (the “End of Term Fee”) payable on the date on which the term loan is paid or becomes due and payable in full. There will be an initial interest-only period until September 30, 2015, which may be extended for a first additional period of three months and a second additional period of six months, subject to certain conditions. At its option, the Company may prepay some or all of the loan balance, subject to a prepayment fee equal to 3% of the amount prepaid during the term of the Agreement (and a pro rata portion of the End of Term Fee if the prepayment is less than the full amount of the Facility). The loan obligations are secured by a security interest on substantially all of the Company’s assets (subject to certain exceptions), including its intellectual property, but excluding certain identified licenses from third parties and its equity interest in its subsidiary, BioAmber Sarnia subject to the conditions specified in the Agreement. The security interest does not apply to any assets owned by BioAmber Sarnia, the entity that will own the Company’s Sarnia facility. The Agreement contains certain representations and warranties, affirmative covenants, negative covenants and conditions that are customarily required for similar financings. The Agreement also contains customary events of default (subject, in certain instances, to specified grace periods) including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal under the Facility, the failure to comply with certain covenants and agreements specified in the Agreement, the occurrence of a material adverse change, defaults in respect of certain other indebtedness, and certain events of insolvency. In addition, the expiration, termination or unavailability of the Company’s license agreements with Cargill, Inc. are deemed to be a default under the Agreement. The Company is required to maintain at least $12.5 million in unrestricted cash through the period ending March 31, 2016. After that period, (i) the Company must maintain the lesser of $12.5 million and the amount of the outstanding principal on the loan or (ii) BioAmber Sarnia’s trailing 6 month free cash flow shall be at least 85% of certain projections agreed to with the Lender. The Company will require its subsidiary BioAmber Sarnia to make certain cash distributions to its shareholders on a quarterly basis beginning January 1, 2016, within the terms of the BioAmber Sarnia Joint Venture Agreement unless prohibited by applicable law or the BioAmber Sarnia financing agreements, such that amounts of cash will not accumulate in BioAmber Sarnia. If any event of default occurs, the principal, premium, if any, interest and any other monetary obligations on all the then outstanding amounts under the Facility may become due and payable immediately. These covenants were met as of June 30, 2015. As of June 30, 2015, the balance of deferred financing cost associated with this transaction was $141,667 and is being amortized over the estimated term of the loan. The balance of the outstanding long-term debt is as follows: June 30, December 31, 2015 2014 $ $ Sustainable Chemistry Alliance: Face value (CAD $500,000) 404,700 431,000 Less: debt discount (194,760 ) (207,417 ) Amortization of debt discount 105,603 97,778 Less: short-term portion of debt (40,470 ) — 275,073 321,361 Sustainable Jobs and Investment Fund: Face value (CAD $15,000,000) 12,141,000 6,249,585 Less: debt discount (5,562,249 ) (2,963,205 ) Amortization of debt discount 574,904 248,000 7,153,655 3,534,380 Federal Economic Development Agency: Face value (CAD $12,000,000) 9,712,800 9,097,991 Less: debt discount (3,446,816 ) (3,302,910 ) Less: short-term portion of debt (1,456,920 ) (457,255 ) Gain on debt extinguishment (654,324 ) (696,846 ) Amortization of debt discount 1,233,387 872,602 5,388,127 5,513,582 Minister of Agriculture and Agri-Food Canada: Face value (CAD $10,000,000) 8,094,000 6,254,108 Less: debt discount (3,841,513 ) (3,000,363 ) Amortization of debt discount 286,891 50,485 Less: short-term portion of debt (297,027 ) — 4,242,351 3,304,230 Tennenbaum Capital Partners, LLC : Face value 25,000,000 25,000,000 Less: debt discount (500,000 ) (500,000 ) Amortization of debt discount 83,333 — End of term charge 343,750 — Less: short-term portion of debt (7,740,244 ) (2,520,452 ) 17,186,839 21,979,548 EDC: Face value (CAD $20,000,000) 16,188,000 — Less: debt discount (1,899,534 ) — Amortization of debt discount 142,885 — Less: short-term portion of debt (2,490,462 ) — 11,940,889 21,979,548 Long-term debt, net 46,186,934 34,653,101 The principal repayments of the outstanding loans payable are as follows: SCA SJIF FEDDEV AAFC TCP EDC Total $ $ $ $ $ $ $ July 2015 - June 2016 40,470 — 1,456,920 297,027 7,740,244 2,490,462 12,025,123 July 2016 - June 2017 80,940 — 1,942,560 891,082 11,226,541 2,490,462 16,631,585 July 2017 - June 2018 80,940 — 1,942,560 891,082 6,033,215 2,490,462 11,438,259 July 2018 - June 2019 80,940 2,428,200 1,942,560 891,082 — 2,490,462 7,833,244 July 2019 and thereafter 121,410 9,712,800 2,428,200 5,123,727 — 6,226,152 23,612,289 Total 404,700 12,141,000 9,712,800 8,094,000 25,000,000 16,188,000 71,540,500 |
Deferred Grants
Deferred Grants | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Deferred Grants | 8. Deferred Grants As of June 30, 2015, the Company has the following deferred grants: a) Sustainable Development Technology Canada (“SDTC”) Grant from Sustainable Development Technology Canada to BioAmber Sarnia in the amount of CAD$14,500,000, or $11,736,300 when converted into U.S. dollars as of June 30, 2015, with progressive disbursements according to the terms of the agreement and milestones as follows: Detailed Engineering Package, Construction and Procurement. The Company fulfilled this Milestone in October 2012. II a). Re-engineering of the Production Process and Plant Design. The Company fulfilled this Milestone in 2014. II b). Engineering Site Preparation and General Contractor Selection. The Company fulfilled this Milestone in 2014. III. Engineering, Procurement of Equipment and Construction of the Plan. The Company fulfilled this Milestone in June 30, 2015 IV . Commissioning, Start-up and Optimization of the manufacturing facility, expected to be prior to 2016. The grant is non-reimbursable by BioAmber Sarnia except upon the occurrence of certain events of default defined in the agreement. An advance on Milestone I of CAD$1,982,726, or $1,604,818 when converted into U.S. dollars as of June 30, 2015, was received in December 2011 and was originally recorded as deferred grant. During October 2012, Milestone I was fulfilled and as a result BioAmber Sarnia received an additional amount of CAD$3,015,000, or $2,440,516 when converted into U.S. dollars as of June 30, 2015, as an advance on Milestone II a). Accordingly, the advance on Milestone I was reclassified from deferred grants reducing the cost of construction in-progress whereas the advance in Milestone II a) was originally recorded as a deferred grant. During December 2014, following the amendment of the milestones as described above, BioAmber Sarnia received an amount of CAD$896,300, or $725,465, when converted into U.S. dollars as of June 30, 2015 for Milestone II b) and advance on Milestone III of CAD$2,398,359, or $1,941,499 when converted into U.S. dollars as of June 30, 2015. The advance on Milestone II a) was reclassified from deferred grants reducing the cost of construction in-progress, and the amount on Milestone II b) was directly applied against construction in-progress. On May 26, 2015, BioAmber Sarnia completed the milestone III and received the advance on Milestone IV of CAD$ 4,769,354, or $3,860,315 when converted into U.S. dollars are of June 30, 2015. The milestone III was reclassified from deferred grants reducing the cost of construction in-progress and the advance on milestone IV was recorded as a deferred grant as of June 30, 2015. The amounts received above are net of a holdback of CAD$1,437,715 or $1,163,687 when converted into U.S. dollars as of June 30, 2015, expected to be received at the completion of the milestone IV. b) SCA The loan received from SCA is to be used primarily for maintenance and operation of the Company’s facility, staff salaries and commercialization costs. As the loan bears a below market interest rate, it has been recorded at a discount and a portion of the proceeds has been recorded as a deferred grant. The expenditures for which the loan was received have not yet been incurred as of June 30, 2015, but are expected to be incurred during the next year. Accordingly, the grant portion of the loan in the amount of $194,760 when converted into U.S. dollars as of June 30, 2015, has been deferred and will be reclassified as a reduction of such expenditures as they are incurred in the future. c) EDC The loan received from EDC is to be used primarily to complete the ongoing construction of the Sarnia Plant and fund its startup and commissioning. As the loan bears a below market interest rate, it has been recorded at a discount and a portion of the proceeds has been recorded as a deferred grant in proportion of the associated costs not yet incurred as of June 30, 2015. Accordingly, the grant portion of the loan in the amount of $1,106,733 when converted into U.S. dollars as of June 30, 2015, has been deferred and will be reclassified as a reduction of such costs as they are incurred in the future. The balance of the outstanding current liability deferred grant is as follows: June 30, December 31, 2015 2014 $ $ SDTC 3,860,315 2,067,385 SCA 194,760 207,417 EDC 1,106,733 — Total 5,161,808 2,274,802 |
Financial charges (income), net
Financial charges (income), net | 6 Months Ended |
Jun. 30, 2015 | |
Debt Instruments [Abstract] | |
Financial charges (income), net | 9. Financial charges (income), net Three Months Six Months ended ended June 30, June 30, 2015 2014 2015 2014 $ $ $ $ End of term charge on long-term debt (Note 7 vii) ) 171,875 238,492 343,750 474,362 Interest on long-term debt 600,348 631,944 1,194,098 1,256,944 Revaluation of the warrants financial liability (Note 12) 3,056,000 3,040,000 2,736,000 14,640,000 Interest (revenue) expense, net 542 (39,637 ) (14,273 ) (147,786 ) Total financial charges (income), net 3,828,765 3,870,799 4,259,575 16,223,520 |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 10. Commitments and contingencies Leases The Company leases its premises and other assets under various operating leases. Future lease payments aggregate $1,655,050 as at December 31, 2014 and include the following future amounts payable on a twelve month basis: December 31, 2014 $ 2015 383,246 2016 220,906 2017 173,468 2018 177,436 2019 200,834 Thereafter 499,160 Royalties The Company has entered into exclusive license agreements that provide for the payment of royalties in the form of up-front payments, minimum annual royalties, and milestone payments. The Company has the right to convert such exclusive agreements into non-exclusive agreements without the right to sublicense and without the obligation to pay minimum royalties. As of December 31, 2014, the Company has commitments related to royalty payments as follows: December 31, 2014 $ 2015 562,667 2016 523,500 2017 652,667 2018 736,000 2019 736,000 Thereafter 6,407,167 The Company has such contractual agreements with the following partners: Cargill Inc., Celexion LLC, University of Guelph, Gene Bridges GmbH, the University of North Dakota and the National Research Council of Canada in partnership with the INRS University. The royalties which the Company owes are in return for the use or development of proprietary tools, patents and know-how and the actual expenses incurred amounted to a total of $54,393 and $ 135,224 for the three months ended June 30, 2015 and 2014, respectively, and $181,433 and $317,307 for the six months ended June 30, 2015 and 2014, and are included in research and development expenses in the consolidated statements of operations. Purchase Obligations BioAmber Sarnia has entered into a steam supply agreement with LANXESS Inc., under which, BioAmber Sarnia has agreed to pay a Monthly Take or Pay fee during the term of the contract, which will vary upon the natural gas price index. An amount of CAD$750,000 or $607,050 when converted into U.S. dollars as of June 30, 2015 is held in an escrow account as a guarantee for the supply agreement. BioAmber Sarnia has also entered into a service agreement with LANXESS Inc. under which minimum yearly payments are required. As of December 31, 2014, BioAmber Sarnia has commitments related to purchase obligations and service payments as follows: December 31, 2014 $ 2015 1,276,214 2016 2,323,733 2017 2,541,857 2018 2,541,857 2019 2,541,857 Thereafter 8,682,382 Litigation As of June 30, 2015 there were no outstanding claims or litigation. |
Redeemable non-controlling inte
Redeemable non-controlling interest | 6 Months Ended |
Jun. 30, 2015 | |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest [Abstract] | |
Redeemable non-controlling interest | 11. Redeemable non-controlling interest On January 24, 2014, the Company signed an amended and restated joint venture agreement (the “Amended JV Agreement”) with Mitsui & Co. Ltd. related to the Sarnia joint venture. Under the Amended JV Agreement, Mitsui invested an additional $8.1 million (CAD$9 million) on January 29, 2014 in BioAmber Sarnia to maintain its 30% ownership. The Amended JV Agreement also revised each party’s rights and obligations under the buy/sell provisions of the Agreement, including a put option exercisable at Mitsui’s sole discretion that requires the Company to purchase Mitsui’s equity for a purchase price of 50% of Mitsui’s equity in the joint venture. This option remains in effect until December 31, 2018. As a result of the Amended JV Agreement, the Company’s previously recorded non-controlling interest in BioAmber Sarnia joint venture of $2.1 million as at December 31, 2014 in shareholders’ equity on the consolidated balance sheet, was re-classified to redeemable non-controlling interest in temporary equity on the Company’s consolidated balance sheets, at the greater of the carrying value or the redemption value, in accordance with FASB ASC 480-10-S99. On August 15, 2014, Mitsui invested $16.5 million (CAD$18 million) of equity in BioAmber Sarnia maintaining its 30% ownership. On February 6, 2015, Mitsui invested an additional $2.0 million (CAD$2.6 million) of equity in BioAmber Sarnia. Mitsui invested additional amounts of $1.1 million (CAD $1.3 million) on April 30, 2015 and May 14, 2015. As of June 30, 2015, the estimated redemption value of the redeemable non-controlling interest was $15.9 million. The following table reflects the activity of the redeemable non-controlling interest: Balance, January 1, 2014 $ - Reclassification of non-controlling interest to redeemable non-controlling interest 2,125,925 Mitsui’s additional capital contribution 24,608,700 Net loss attributable to non-controlling interest (NCI) (874,890 ) Accumulated other comprehensive loss attributable to NCI (1,669,323 ) Balance, December 31, 2014 24,190,412 Mitsui’s additional capital contribution 4,302,323 Net loss attributable to NCI (1,510,508 ) Accumulated other comprehensive loss attributable to NCI (1,623,692 ) Balance at June 30, 2015 25,358,535 |
Share capital
Share capital | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share capital | 12. Share capital Secondary Public Offering On May 6, 2015, the Company completed a public offering and issued 3,900,000 shares of common stock, at an offering price of $9.00 per share. The total net proceeds from the public offering, after deducting underwriting discounts and estimated offering expenses was approximately $32.8 million. Warrants financial liability The warrants issued upon the completion of the IPO, are exercisable during the period beginning on August 8, 2013 and ending on May 9, 2017. The warrants contain full ratchet, anti-dilution protection upon the issuance of any common stock, securities convertible into common stock, or certain other issuances at a price below the then-existing exercise price of the warrant, with certain exceptions. The exercise price of $11.00 per whole share of common stock is subject to appropriate adjustment in the event of certain stock dividends and distributions, stock splits, stock issuances or other similar events affecting the company’s common stock. At issuance, the fair value of the warrants was classified as a financial liability as a result of their characteristics, in accordance with FASB ASC 815. Following the May 2015 public offering, the exercise price per share of those warrants were adjusted to $9.00 pursuant the terms of such warrants. The fair value of the warrants was determined to be $2.02 per warrant using the Black-Scholes option pricing model using the following assumptions: Risk free interest rate 0.54 % Expected life 4 years Volatility 56.06 % Expected dividend yield 0 % Forfeiture rate 0 % Accordingly, a liability of $16.1 million was recorded at the unit issuance date. On June 30, 2015, the closing value of the warrant on the New York Stock Exchange, a level 1 fair value measure, was $1.972 per warrant, as compared to $1.63 per warrant on December 31, 2014. As a result, the liability was revalued at the balance sheet date resulting in a financial charge of $3,056,000 for the three months ended June 30, 2015, and $2,736,000 for the six months ended June 30, 2015. Stock option plan Stock-based compensation expense was allocated as follows: Three Months Six Months ended ended June 30, June 30, 2015 2015 2014 2015 2014 $ $ $ $ General and administrative 882,219 796,215 1,683,893 1,460,237 Research and development 507,168 1,583,261 1,069,851 2,230,786 Sales and marketing 115,728 658,484 259,069 830,618 Total compensation expense 1,505,115 3,037,960 3,012,813 4,521,641 The following table summarizes activity under the Plan: Three Months ended Six Months ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 Weighted Weighted Weighted Weighted Number Average Number Average Number Average Number Average of Exercise of Exercise of Exercise of Exercise options price options price options price options price $ $ $ $ Options outstanding, beginning of period 5,160,450 7.72 4,342,841 8.49 4,923,596 7.67 4,329,560 8.46 Granted 98,000 8.95 125,901 10.27 358,000 8.70 185,901 10.84 Exercised (14,000 ) 10.55 (21,000 ) 5.74 (14,000 ) 9.62 (21,000 ) 5.74 Forfeited/Cancelled (29,896 ) 5.74 (314,542 ) 27.06 (53,042 ) 5.74 (361,261 ) 24.86 Options outstanding, end of period 5,214,554 7.72 4,133,200 7.15 5,214,554 7.72 4,133,200 7.15 Options exercisable, end of period 2,710,618 6.92 1,588,022 6.46 2,710,618 6.92 1,588,022 6.46 Per share weighted average grant-date fair value of options granted $ 7.02 $ 5.73 6.48 $ 6.05 As of June 30, 2015, the weighted-average remaining contractual life of options outstanding and options exercisable were 7.65 years and 6.50 years, respectively. The fair value of options granted during the three and six months ended June 30, 2015 and 2014, respectively, was determined using the Black-Scholes option pricing model and the following weighted-average assumptions: Three Months ended Six Months ended June 30, June 30, 2015 2014 2015 2014 Risk-free interest rate 1.66 % 1.93 % 1.78 % 2.53 % Expected life 6.25 years 6.25 years 6.25 years 10 years Volatility 81.99 % 57.79 % 84.42 % 72.31 % Expected dividend yield 0 % 0 % 0 % 0 % Warrants During the six months ended June 30, 2015, 2,625 warrants were exercised at an exercise price of $1.07 per share, and 105,000 warrants were exercised at an exercise price of $1.43. During the six months ended June 30, 2014, 3,500 warrants were exercised at an exercise price of $1.07 per share and an additional 3,430 warrants were exercised at an exercise price of $1.43 per share. The warrants issued on April 1, 2011 are subject to appropriate adjustments upon issuance of additional securities. Following the May 2015 public offering, the exercise price per share of those warrants expiring on April 1, 2021 were adjusted to an exercise price of $10.11 per share and an additional 4,124 warrants were issued. The fair value of these warrants was minimal. As at June 30, 2015, the Company had the following warrants outstanding to acquire common shares: Number Exercise price Expiration date 331,846 $ 1.07 July 2016 - April 2019 505,890 $ 1.43 February 2019 208,950 $ 5.74 June 2019 98,869 $ 10.11 April 2021 4,000,000 $ 9.00 May 2017 5,145,555 |
Income taxes
Income taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income taxes | 13. Income taxes Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial reporting and tax bases of assets and liabilities and available net operating loss carry forwards. A valuation allowance is established to reduce tax assets if it is more likely than not that all or some portions of such tax assets will not be realized. The Company’s valuation allowance was recorded on the deferred tax assets to provide for a reasonable provision, which in the Company’s estimation is more likely than not that all or some portions of such tax assets will not be realized. In determining the adequacy of the valuation allowance, the Company applied the authoritative guidance and considered such factors as (i) which subsidiaries were producing income and which subsidiaries were producing losses and (ii) temporary differences occurring from depreciation and amortization which the Company expects to increase the taxable income over future periods. The Company follows the guidance concerning accounting for uncertainty in income taxes, which clarifies the accounting and disclosure for uncertainty in tax positions. The guidance requires that the Company determine whether it is more likely than not that a tax position will not be sustained upon examination by the appropriate taxing authority. If a tax position does not meet the more likely than not recognition criterion, the guidance requires that the tax position be measured at the largest amount of benefit greater than 50 percent not likely of being sustained upon ultimate settlement. Based on the Company’s evaluation at June 30, 2015, management has concluded that there has been a change to the recorded uncertain tax positions requiring adjustments to deferred tax assets and related valuation allowance, but did not require any recognition in the consolidated financial statements. Open tax years include the tax years December 31, 2010 through December 31, 2014. The Company from time to time has been assessed interest or penalties by major tax jurisdictions; however such assessments historically have been minimal and immaterial to our financial results. If the Company receives an assessment for interest and/or penalties, it would be classified in the consolidated financial statements as an income tax expense. For the three month periods ended June 30, 2015 and June 30, 2014, the Company’s effective income tax rates was 0.07% and 0.07% respectively, compared to an applicable U.S. combined federal and state income tax rate of 40.54%. The difference between the effective tax rate and U.S. statutory tax rate as of June 30, 2015 is primarily due the existence of valuation allowances for deferred tax assets including net operating losses and stock options. For the three months ended June 30, 2015, the Company recorded valuation allowances on deferred tax assets relating to current year losses and temporary differences. The Company accounts for interest and penalties related to uncertain tax positions, if any, as part of tax expense unless it is associated with intercompany profits. The Company recognizes interest and penalties related to uncertain tax positions associated with intercompany profits as prepaid tax expense. The asset is amortized over the life of the assets involved in the intercompany sale. For each of the periods presented herein, there were no material changes to the amounts accrued or charged to expense for tax-related interest and penalties. The Company is subject to possible income tax examinations for its U.S. federal and state income tax returns filed for the tax years 2010 to present. International tax statutes may vary widely regarding the tax years subject to examination, but generally range from 2010 to the present. |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2015 | |
Investments All Other Investments [Abstract] | |
Financial instruments | 14. Financial instruments Currency risk The Company is exposed to foreign currency risk as result of foreign-denominated transactions and balances. The Company does not hold any financial instruments that mitigate this risk. Credit risk The Company’s exposure to credit risk as of June 30, 2015, is equal to the carrying amount of its financial assets. As of June 30, 2015 the amounts due from two customers represented approximately 57% of the total accounts receivable. As of June 30, 2014, the amounts due from one customer represented approximately 63% of the total accounts receivable. Interest Rate Risk We had unrestricted cash totaling $48.7 million at June 30, 2015. These amounts were deposited in current and interest-bearing accounts and were held for working capital purposes. Our primary objective is to preserve our capital for the purpose of funding our operations. We do not enter into investments for trading or speculative purposes. Our three-year term loan with TCP bears interest at 9.50% or the 3 month LIBOR rate plus 9.27%. If the LIBOR rate were to increase, the interest rate for the remaining term of the loan would increase. |
Fair value of financial assets
Fair value of financial assets and liabilities | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair value of financial assets and liabilities | 15. Fair value of financial assets and liabilities For cash, accounts receivable and accounts payable and accrued liabilities, the carrying amount approximates fair value because of the short-term maturity of those instruments. The carrying amount of long-term debt approximates fair value as at June 30, 2015 and December 31, 2014. The fair value of long-term debt received from government organizations was determined using Level 3 information as the Company produces an estimate of fair value based on internally developed valuation techniques which are based on a discounted cash flow methodology and incorporates all relevant observable market inputs. The interest free loans were discounted using an interest rate between 12% and 15%, a level 3 fair value measurement, representing the interest rate a loan with similar terms and conditions would carry. The fair value of the warrants which were issued upon the completion of the IPO on May 10, 2013 was calculated using the Black-Scholes option pricing model using various assumptions described in Note 13, which was a level 3 fair value measurement. As these warrants starting trading freely on the New York Stock Exchange on June 10, 2013, the closing value of these warrants, which is a level 1 measurement was used to calculate the fair value from June 10, 2013 onwards. |
Related party transactions
Related party transactions | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related party transactions | 16. Related party transactions Transactions with related parties not disclosed elsewhere were as follows: Three Months ended Six Months ended June 30, June 30, 2015 2014 2015 2014 $ $ $ $ Product sales to a shareholder 8,000 42,104 11,250 63,686 The related party transactions noted above were undertaken in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the parties. |
Business segments
Business segments | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Business segments | 17. Business segments The Company allocates, for the purpose of geographic segment reporting, its revenue based on the location of the seller. For the purpose of geographic segment reporting, the non-current assets of the Company are allocated as follows: Europe North America Consolidated June 30, December 31, June 30, December 31, June 30, December 31, 2015 2014 2015 2014 2015 2014 $ $ $ $ $ $ Property and equipment, net — — 126,962,707 88,664,899 126,962,707 88,664,899 Investment in equity method and cost investments — — 447,682 34,817 447,682 34,817 Intangible assets, net (Note 5) 3,017,550 4,158,550 2,295,710 174,361 5,313,260 4,332,911 Goodwill 625,364 625,364 — — 625,364 625,364 |
Subsequent events
Subsequent events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent events | 18. Subsequent events On July 29, 2015, the Company signed an amendment to the TCP loan agreement to increase the permitted investment in BioAmber Sarnia from $10 million to $25 million after July 29, 2015. In exchange, the restricted cash balance requirement increased from $12.5 million to $15 million from July 29, 2015 to December 31, 2015, with possibility to decrease at $12.5 million if the Company’s revenues exceeds a minimum threshold, and decreases to $12.5 million thereafter under certain conditions. A fee of $0.5 million is payable under this amendment. |
Summary of significant accoun26
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with SEC rules and regulations and using the same accounting policies as described in Note 2 of the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Accordingly, these unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management bases its estimates on various assumptions and historical experience, which are believed to be reasonable; however, due to the inherent nature of estimates, actual results may differ significantly due to changed conditions or assumptions. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of results to be expected for the fiscal year ended December 31, 2015 or any other future period. |
Risk and uncertainties | Risk and uncertainties BioAmber is an industrial biotechnology company producing sustainable chemicals and the Company has not yet commenced its planned, principal operations. The Company’s principal operations will start once commercial production begins at the Sarnia, Ontario facility, currently under construction. The Company’s activities since inception have consisted principally of raising capital for performing research and development activities, developing market producing and selling bio-succinic acid from a , and building its Sarnia facility. Ultimately, the Company believes that the attainment of profitable operations is dependent upon future events, including in Sarnia, Ontario, , obtaining adequate financing to complete its development activities, and attracting and retaining qualified personnel. |
Net loss per share | Net loss per share The Company computes net loss per share in accordance with FASB ASC 260, Earnings Per Share, |
Recently adopted and recently issued accounting guidance | Recently adopted and recently issued accounting guidance In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, "Revenue Recognition - Revenue from Contracts with Customers," which is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP. The standard is effective for interim and annual periods beginning after December 15, 2017, and either full retrospective adoption or modified retrospective adoption is permitted. The Company is in the process of evaluating the impact of the standard. In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," |
Property and equipment (Tables)
Property and equipment (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Property Plant And Equipment [Abstract] | |
Schedule of Property and Equipment | Estimated Useful June 30, December 31, Life 2015 2014 (years) $ $ Land 272,632 290,349 Furniture and fixtures 5 - 8 113,212 77,448 Machinery and equipment 5 - 15 1,283,684 1,215,561 Computers, office equipment and peripherals 3 - 7 199,431 134,248 Leasehold improvement 7 - 10 369,117 12,342 Construction in-progress 145,554,611 101,664,351 Grants applied to construction in-progress (20,369,861 ) (14,362,312 ) 127,422,826 89,031,987 Less: accumulated depreciation (460,119 ) (367,088 ) Property and equipment, net 126,962,707 88,664,899 |
Intangible assets (Tables)
Intangible assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets | June 30, December 31, 2015 2014 $ $ Intellectual property, patents and licenses: Beginning balance 4,528,739 4,528,739 Addition of license 2,017,182 — 6,545,921 4,528,739 Less: accumulated amortization (4,528,739 ) (4,528,739 ) Intellectual property, patents and licenses, net 2,017,182 — Acquired in-process research and development 4,158,550 4,158,550 Write-off of license acquired (1,141,000 ) — 3,017,550 — Computer software and license 414,699 279,201 Less: accumulated depreciation (136,171 ) (104,840 ) Intangible assets, net 5,313,260 4,332,911 |
Accounts payable and accrued 29
Accounts payable and accrued liabilities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Payables And Accruals [Abstract] | |
Summary of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities consisted of the following: June 30, December 31, 2015 2014 $ $ Trade accounts payable 14,043,285 13,184,825 Accrued payroll and bonus 1,865,736 2,232,590 Consulting and legal fees 760,471 614,993 Other 502,583 427,510 Total 17,172,075 16,459,918 |
Long-term debt (Tables)
Long-term debt (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Outstanding Long Term Debt | The balance of the outstanding long-term debt is as follows: June 30, December 31, 2015 2014 $ $ Sustainable Chemistry Alliance: Face value (CAD $500,000) 404,700 431,000 Less: debt discount (194,760 ) (207,417 ) Amortization of debt discount 105,603 97,778 Less: short-term portion of debt (40,470 ) — 275,073 321,361 Sustainable Jobs and Investment Fund: Face value (CAD $15,000,000) 12,141,000 6,249,585 Less: debt discount (5,562,249 ) (2,963,205 ) Amortization of debt discount 574,904 248,000 7,153,655 3,534,380 Federal Economic Development Agency: Face value (CAD $12,000,000) 9,712,800 9,097,991 Less: debt discount (3,446,816 ) (3,302,910 ) Less: short-term portion of debt (1,456,920 ) (457,255 ) Gain on debt extinguishment (654,324 ) (696,846 ) Amortization of debt discount 1,233,387 872,602 5,388,127 5,513,582 Minister of Agriculture and Agri-Food Canada: Face value (CAD $10,000,000) 8,094,000 6,254,108 Less: debt discount (3,841,513 ) (3,000,363 ) Amortization of debt discount 286,891 50,485 Less: short-term portion of debt (297,027 ) — 4,242,351 3,304,230 Tennenbaum Capital Partners, LLC : Face value 25,000,000 25,000,000 Less: debt discount (500,000 ) (500,000 ) Amortization of debt discount 83,333 — End of term charge 343,750 — Less: short-term portion of debt (7,740,244 ) (2,520,452 ) 17,186,839 21,979,548 EDC: Face value (CAD $20,000,000) 16,188,000 — Less: debt discount (1,899,534 ) — Amortization of debt discount 142,885 — Less: short-term portion of debt (2,490,462 ) — 11,940,889 21,979,548 Long-term debt, net 46,186,934 34,653,101 |
Principal Repayments of Outstanding Loans Payable | The principal repayments of the outstanding loans payable are as follows: SCA SJIF FEDDEV AAFC TCP EDC Total $ $ $ $ $ $ $ July 2015 - June 2016 40,470 — 1,456,920 297,027 7,740,244 2,490,462 12,025,123 July 2016 - June 2017 80,940 — 1,942,560 891,082 11,226,541 2,490,462 16,631,585 July 2017 - June 2018 80,940 — 1,942,560 891,082 6,033,215 2,490,462 11,438,259 July 2018 - June 2019 80,940 2,428,200 1,942,560 891,082 — 2,490,462 7,833,244 July 2019 and thereafter 121,410 9,712,800 2,428,200 5,123,727 — 6,226,152 23,612,289 Total 404,700 12,141,000 9,712,800 8,094,000 25,000,000 16,188,000 71,540,500 |
Deferred Grants (Tables)
Deferred Grants (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Outstanding Current Liability Deferred Grant | The balance of the outstanding current liability deferred grant is as follows: June 30, December 31, 2015 2014 $ $ SDTC 3,860,315 2,067,385 SCA 194,760 207,417 EDC 1,106,733 — Total 5,161,808 2,274,802 |
Financial charges (income), n32
Financial charges (income), net (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Instruments [Abstract] | |
Schedule of Financial Charges or Income Net | Three Months Six Months ended ended June 30, June 30, 2015 2014 2015 2014 $ $ $ $ End of term charge on long-term debt (Note 7 vii) ) 171,875 238,492 343,750 474,362 Interest on long-term debt 600,348 631,944 1,194,098 1,256,944 Revaluation of the warrants financial liability (Note 12) 3,056,000 3,040,000 2,736,000 14,640,000 Interest (revenue) expense, net 542 (39,637 ) (14,273 ) (147,786 ) Total financial charges (income), net 3,828,765 3,870,799 4,259,575 16,223,520 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments And Contingencies [Line Items] | |
Schedule of Future Lease Payments | Future lease payments aggregate $1,655,050 as at December 31, 2014 and include the following future amounts payable on a twelve month basis: December 31, 2014 $ 2015 383,246 2016 220,906 2017 173,468 2018 177,436 2019 200,834 Thereafter 499,160 |
Schedule of Royalty Payments and Commitments Related to Purchase Obligations and Service Payments | As of December 31, 2014, the Company has commitments related to royalty payments as follows: December 31, 2014 $ 2015 562,667 2016 523,500 2017 652,667 2018 736,000 2019 736,000 Thereafter 6,407,167 |
BioAmber Sarnia [Member] | |
Commitments And Contingencies [Line Items] | |
Schedule of Royalty Payments and Commitments Related to Purchase Obligations and Service Payments | As of December 31, 2014, BioAmber Sarnia has commitments related to purchase obligations and service payments as follows: December 31, 2014 $ 2015 1,276,214 2016 2,323,733 2017 2,541,857 2018 2,541,857 2019 2,541,857 Thereafter 8,682,382 |
Redeemable non-controlling in34
Redeemable non-controlling interest (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest [Abstract] | |
Schedule of Redeemable Non-controlling Interest Activity | The following table reflects the activity of the redeemable non-controlling interest: Balance, January 1, 2014 $ - Reclassification of non-controlling interest to redeemable non-controlling interest 2,125,925 Mitsui’s additional capital contribution 24,608,700 Net loss attributable to non-controlling interest (NCI) (874,890 ) Accumulated other comprehensive loss attributable to NCI (1,669,323 ) Balance, December 31, 2014 24,190,412 Mitsui’s additional capital contribution 4,302,323 Net loss attributable to NCI (1,510,508 ) Accumulated other comprehensive loss attributable to NCI (1,623,692 ) Balance at June 30, 2015 25,358,535 |
Share capital (Tables)
Share capital (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Assumptions Using Black-Scholes Option Pricing Model | The fair value of options granted during the three and six months ended June 30, 2015 and 2014, respectively, was determined using the Black-Scholes option pricing model and the following weighted-average assumptions: Three Months ended Six Months ended June 30, June 30, 2015 2014 2015 2014 Risk-free interest rate 1.66 % 1.93 % 1.78 % 2.53 % Expected life 6.25 years 6.25 years 6.25 years 10 years Volatility 81.99 % 57.79 % 84.42 % 72.31 % Expected dividend yield 0 % 0 % 0 % 0 % |
Summary of Stock-Based Compensation Expense | Stock-based compensation expense was allocated as follows: Three Months Six Months ended ended June 30, June 30, 2015 2015 2014 2015 2014 $ $ $ $ General and administrative 882,219 796,215 1,683,893 1,460,237 Research and development 507,168 1,583,261 1,069,851 2,230,786 Sales and marketing 115,728 658,484 259,069 830,618 Total compensation expense 1,505,115 3,037,960 3,012,813 4,521,641 |
Summary of Options Activity | The following table summarizes activity under the Plan: Three Months ended Six Months ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 Weighted Weighted Weighted Weighted Number Average Number Average Number Average Number Average of Exercise of Exercise of Exercise of Exercise options price options price options price options price $ $ $ $ Options outstanding, beginning of period 5,160,450 7.72 4,342,841 8.49 4,923,596 7.67 4,329,560 8.46 Granted 98,000 8.95 125,901 10.27 358,000 8.70 185,901 10.84 Exercised (14,000 ) 10.55 (21,000 ) 5.74 (14,000 ) 9.62 (21,000 ) 5.74 Forfeited/Cancelled (29,896 ) 5.74 (314,542 ) 27.06 (53,042 ) 5.74 (361,261 ) 24.86 Options outstanding, end of period 5,214,554 7.72 4,133,200 7.15 5,214,554 7.72 4,133,200 7.15 Options exercisable, end of period 2,710,618 6.92 1,588,022 6.46 2,710,618 6.92 1,588,022 6.46 Per share weighted average grant-date fair value of options granted $ 7.02 $ 5.73 6.48 $ 6.05 |
Summary of Warrants Outstanding to Acquire Common Shares | As at June 30, 2015, the Company had the following warrants outstanding to acquire common shares: Number Exercise price Expiration date 331,846 $ 1.07 July 2016 - April 2019 505,890 $ 1.43 February 2019 208,950 $ 5.74 June 2019 98,869 $ 10.11 April 2021 4,000,000 $ 9.00 May 2017 5,145,555 |
Warrants | |
Schedule of Assumptions Using Black-Scholes Option Pricing Model | The fair value of the warrants was determined to be $2.02 per warrant using the Black-Scholes option pricing model using the following assumptions: Risk free interest rate 0.54 % Expected life 4 years Volatility 56.06 % Expected dividend yield 0 % Forfeiture rate 0 % |
Related party transactions (Tab
Related party transactions (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Transactions with Related Parties | Transactions with related parties not disclosed elsewhere were as follows: Three Months ended Six Months ended June 30, June 30, 2015 2014 2015 2014 $ $ $ $ Product sales to a shareholder 8,000 42,104 11,250 63,686 |
Business segments (Tables)
Business segments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Non-Current Assets of Company Geographic Segment | For the purpose of geographic segment reporting, the non-current assets of the Company are allocated as follows: Europe North America Consolidated June 30, December 31, June 30, December 31, June 30, December 31, 2015 2014 2015 2014 2015 2014 $ $ $ $ $ $ Property and equipment, net — — 126,962,707 88,664,899 126,962,707 88,664,899 Investment in equity method and cost investments — — 447,682 34,817 447,682 34,817 Intangible assets, net (Note 5) 3,017,550 4,158,550 2,295,710 174,361 5,313,260 4,332,911 Goodwill 625,364 625,364 — — 625,364 625,364 |
Equity and Cost Investments - A
Equity and Cost Investments - Additional Information (Detail) | May. 06, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Feb. 05, 2015USD ($) | Feb. 05, 2015CAD |
Schedule Of Equity Method Investments [Line Items] | ||||||||
Net loss | $ (14,025,558) | $ (13,992,561) | $ (22,283,740) | $ (33,903,606) | $ (46,421,960) | |||
Total assets | 190,072,322 | 190,072,322 | 152,440,400 | |||||
Total liabilities | 96,984,743 | 96,984,743 | 70,720,589 | |||||
Cost investment in start-up private company | $ 412,434 | CAD 500,000 | ||||||
Cost method investment, ownership percentage | 6.60% | 6.60% | ||||||
Sinoven and Nature Works LLC [Member] | ||||||||
Schedule Of Equity Method Investments [Line Items] | ||||||||
Capital Distribution | $ 1,350,000 | |||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||||
Amber Works L L C [Member] | ||||||||
Schedule Of Equity Method Investments [Line Items] | ||||||||
Net loss | 0 | (324) | 0 | (216) | ||||
Total assets | 70,496 | 70,496 | 69,634 | |||||
Total liabilities | 0 | 0 | 0 | |||||
Amber Works L L C [Member] | Sinoven Biopolymers Inc [Member] | ||||||||
Schedule Of Equity Method Investments [Line Items] | ||||||||
Net loss | 0 | $ (162) | 0 | $ (108) | ||||
Total assets | $ 35,248 | $ 35,248 | $ 34,817 |
Inventories and Prepaid expen39
Inventories and Prepaid expenses and deposits - Additional Information (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Inventory Disclosure [Abstract] | ||
Finished goods inventory | $ 1,312,228 | $ 1,801,826 |
Inventory reserve | 300,000 | |
Prepaid expenses and deposits | $ 903,307 | $ 765,539 |
Property and equipment - Schedu
Property and equipment - Schedule of Property and Equipment (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Property Plant And Equipment [Line Items] | ||
Land | $ 272,632 | $ 290,349 |
Furniture and fixtures | 113,212 | 77,448 |
Machinery and equipment | 1,283,684 | 1,215,561 |
Computers, office equipment and peripherals | 199,431 | 134,248 |
Leasehold improvement | 369,117 | 12,342 |
Construction in-progress | 145,554,611 | 101,664,351 |
Grants applied to construction in-progress | (20,369,861) | (14,362,312) |
Property and equipment, gross | 127,422,826 | 89,031,987 |
Less: accumulated depreciation | (460,119) | (367,088) |
Property and equipment, net | $ 126,962,707 | $ 88,664,899 |
Minimum [Member] | Furniture and Fixtures [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 5 years | |
Minimum [Member] | Machinery and Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 5 years | |
Minimum [Member] | Computers, Office Equipment and Peripherals [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 3 years | |
Minimum [Member] | Leasehold improvement [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 7 years | |
Maximum [Member] | Furniture and Fixtures [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 8 years | |
Maximum [Member] | Machinery and Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 15 years | |
Maximum [Member] | Computers, Office Equipment and Peripherals [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 7 years | |
Maximum [Member] | Leasehold improvement [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, Estimated Useful Life | 10 years |
Property and equipment - Additi
Property and equipment - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Property Plant And Equipment [Abstract] | ||||
Depreciation expense | $ 72,740 | $ 59,909 | $ 132,918 | $ 119,583 |
Intangible assets - Schedule of
Intangible assets - Schedule of Intangible Assets (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Intellectual property, patents and licenses: | |||
Intellectual property, patents and licenses, Beginning balance | $ 4,528,739 | $ 4,528,739 | $ 4,528,739 |
Addition of license | 2,017,182 | ||
Intellectual property, patents and licenses, gross | 6,545,921 | 4,528,739 | |
Less: accumulated amortization | (4,528,739) | (4,528,739) | (4,528,739) |
Intellectual property, patents and licenses, net | 2,017,182 | 2,017,182 | |
Acquired in-process research and development | 4,158,550 | 4,158,550 | 4,158,550 |
Write-off of license acquired | 1,141,000 | (1,141,000) | |
Acquired in-process research and development, net | 3,017,550 | 3,017,550 | |
Computer software and license | 414,699 | 414,699 | 279,201 |
Less: accumulated depreciation | (136,171) | (136,171) | (104,840) |
Intangible assets, net | $ 5,313,260 | $ 5,313,260 | $ 4,332,911 |
Intangible assets - Additional
Intangible assets - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Apr. 20, 2015T | Dec. 11, 2014PlantT | |
Intangible Assets [Line Items] | ||||||
Amortization expense | $ 20,114 | $ 0 | $ 31,776 | $ 0 | ||
Annual production capacity of plant (in ton) | T | 100,000 | 100,000 | ||||
License fee capitalized | 2,017,182 | 2,017,182 | ||||
Amount of carrying value to be written off on termination of Dupont license | $ 1,141,000 | $ (1,141,000) | ||||
BDO [Member] | ||||||
Intangible Assets [Line Items] | ||||||
Annual production capacity of plant (in ton) | T | 70,000 | |||||
THF [Member] | ||||||
Intangible Assets [Line Items] | ||||||
Annual production capacity of plant (in ton) | T | 30,000 | |||||
BDO/THF [Member] | ||||||
Intangible Assets [Line Items] | ||||||
Number of additional plants to license | Plant | 2 |
Accounts payable and accrued 44
Accounts payable and accrued liabilities - Summary of Accounts Payable and Accrued Liabilities (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Payables And Accruals [Abstract] | ||
Trade accounts payable | $ 14,043,285 | $ 13,184,825 |
Accrued payroll and bonus | 1,865,736 | 2,232,590 |
Consulting and legal fees | 760,471 | 614,993 |
Other | 502,583 | 427,510 |
Total | $ 17,172,075 | $ 16,459,918 |
Long-term debt - Sustainable Jo
Long-term debt - Sustainable Jobs and Investment Fund (SJIF) - Additional Information (Detail) | 6 Months Ended | ||||
Jun. 30, 2015USD ($)JobInstallment | Jun. 30, 2015CADJobInstallment | Jun. 30, 2015CAD | Dec. 31, 2014USD ($) | Sep. 30, 2011CAD | |
Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Discount rate of debt | 12.00% | 12.00% | |||
Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Discount rate of debt | 15.00% | 15.00% | |||
Sustainable Jobs and Investment Fund [Member] | |||||
Debt Instrument [Line Items] | |||||
Loan granted under the Contribution agreement | $ 12,141,000 | CAD 15,000,000 | $ 6,249,585 | CAD 15,000,000 | |
Period for interest free loan | 5 years | 5 years | |||
Number of jobs | Job | 31 | 31 | |||
Number of annual installments | 5 | 5 | |||
Sustainable Jobs and Investment Fund [Member] | Loans Payable [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from loans disbursement | $ 12,141,000 | CAD 15,000,000 | |||
Sustainable Jobs and Investment Fund [Member] | Loans Payable [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Discount rate of debt | 12.00% | 12.00% | |||
Sustainable Jobs and Investment Fund [Member] | Loans Payable [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Discount rate of debt | 15.00% | 15.00% | |||
Sustainable Jobs and Investment Fund [Member] | Condition One [Member] | |||||
Debt Instrument [Line Items] | |||||
Annual rate for interest of loan | 3.98% | 3.98% | |||
Sustainable Jobs and Investment Fund [Member] | Condition Two [Member] | |||||
Debt Instrument [Line Items] | |||||
Annual rate for interest of loan | 5.98% | 5.98% |
Long-term debt - Sustainable Ch
Long-term debt - Sustainable Chemistry Alliance (SCA) - Additional Information (Detail) | 1 Months Ended | 6 Months Ended | ||||
Jul. 31, 2014CAD | Jun. 30, 2015USD ($)Installment | Jun. 30, 2015CAD | Jun. 30, 2015CADInstallment | Dec. 31, 2014USD ($) | Nov. 30, 2011CAD | |
Debt Instrument [Line Items] | ||||||
Discounted amount of the loan | $ 5,161,808 | $ 2,274,802 | ||||
Sustainable Chemistry Alliance [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Loan granted under the Contribution agreement | $ 404,700 | CAD 500,000 | $ 431,000 | CAD 500,000 | ||
Annual rate for interest of loan | 5.00% | 5.00% | ||||
Quarterly installment amount | CAD | CAD 25,000 | |||||
Starting period of repayment of principal amount | 2015-11 | 2015-11 | ||||
Ending period of repayment of principal amount | 2020-11 | 2020-11 | ||||
Aggregate principle payment of loan outstanding | CAD | CAD 60,000,000 | CAD 45,000,000 | ||||
Number of quarterly installments | Installment | 20 | 20 | ||||
Discounted amount of the loan | $ 209,940 | |||||
Discount rate of debt | 15.00% | 15.00% | ||||
Discounted amount of the loan | $ 194,760 |
Long-term debt - Federal Econom
Long-term debt - Federal Economic Development Agency (FEDDEV) - Additional Information (Detail) | Mar. 20, 2013USD ($) | May. 31, 2014USD ($) | Mar. 31, 2015CAD | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2015CAD | Sep. 30, 2011CAD |
Debt Instrument [Line Items] | |||||||
Discounted amount of the loan | $ 5,161,808 | $ 2,274,802 | |||||
Federal Economic Development Agency [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Loan granted under the Contribution agreement | $ 9,712,800 | 9,097,991 | CAD 12,000,000 | CAD 12,000,000 | |||
Starting period of repayment of principal amount | 2013-10 | ||||||
Ending period of repayment of principal amount | 2018-10 | ||||||
Original repayment term of principal amount in installments | 60 months | ||||||
Gains (Losses) on extinguishment of debt | $ 314,305 | $ 654,324 | $ 696,846 | ||||
Federal Economic Development Agency [Member] | Amendment [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Starting period of repayment of principal amount | 2014-10 | ||||||
Ending period of repayment of principal amount | 2019-10 | ||||||
Federal Economic Development Agency [Member] | Second Amendment | |||||||
Debt Instrument [Line Items] | |||||||
Starting period of repayment of principal amount | 2015-10 | ||||||
Ending period of repayment of principal amount | 2020-10 | ||||||
Federal Economic Development Agency [Member] | Loans Payable [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Gains (Losses) on extinguishment of debt | $ 451,450 | ||||||
Federal Economic Development Agency [Member] | Loans Payable [Member] | Final Disbursement [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from loans disbursement | CAD 1,445,000 | $ 1,169,610 | |||||
Discounted amount of the loan | $ 824,158 | ||||||
Discount rate of debt | 12.00% | ||||||
Discounted amount of the loan | $ 345,452 |
Long-term debt - Hercules Techn
Long-term debt - Hercules Technology Growth Capital, Inc. (HTGC) - Additional Information (Detail) CAD in Millions | May. 14, 2015USD ($) | May. 14, 2015CAD | Apr. 30, 2015USD ($) | Apr. 30, 2015CAD | Feb. 06, 2015USD ($) | Feb. 06, 2015CAD | Dec. 17, 2014USD ($) | Aug. 15, 2014USD ($) | Aug. 15, 2014CAD | Jan. 29, 2014USD ($) | Jan. 29, 2014CAD | Jan. 24, 2014CAD | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 27, 2013USD ($) |
Debt Instrument [Line Items] | |||||||||||||||
Period of repayment of term loan | 36 months | ||||||||||||||
Floating interest rate | 9.50% | ||||||||||||||
Percentage of term charge | 8.25% | ||||||||||||||
Loan amount | $ 25,000,000 | ||||||||||||||
Percentage of prepayment fee | 3.00% | ||||||||||||||
Mitsui [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Equity contribution by joint venture partner | $ 1,100,000 | CAD 1.3 | $ 1,100,000 | CAD 1.3 | $ 2,000,000 | CAD 2.6 | $ 16,500,000 | CAD 18 | $ 8,100,000 | CAD 9 | |||||
Hercules Technology Growth Capital, Inc [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior secured loan | $ 19,200,000 | ||||||||||||||
Loan amount | 2,900,000 | ||||||||||||||
Payoff amount | 22,400,000 | ||||||||||||||
Prepayment fee | 192,000 | ||||||||||||||
Accrued interest | $ 123,000 | ||||||||||||||
Gains (Losses) on extinguishment of debt | $ (622,179) | ||||||||||||||
Loans Payable [Member] | Hercules Technology Growth Capital, Inc [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior secured loan | $ 25,000,000 | ||||||||||||||
Percentage of loan fee funded for secured term loan | 2.50% | ||||||||||||||
Period of repayment of term loan | 36 months | ||||||||||||||
Floating interest rate | 10.00% | ||||||||||||||
Percentage spread on prime rate | 6.75% | ||||||||||||||
Percentage of term charge | 11.50% | ||||||||||||||
Loan amount | $ 2,875,000 | ||||||||||||||
Equity contribution by joint venture partner | $ 1,500,000 | ||||||||||||||
Percentage of prepayment fee | 2.00% | ||||||||||||||
Percentage of prepayment fee after 12 months | 1.00% | ||||||||||||||
Loans Payable [Member] | Hercules Technology Growth Capital, Inc [Member] | Mitsui [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Equity contribution by joint venture partner | CAD | CAD 9 |
Long-term debt - Minister of Ag
Long-term debt - Minister of Agriculture and Agri-Food of Canada (AAFC) - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015USD ($) | Mar. 31, 2015CAD | Jun. 30, 2015USD ($) | Jun. 30, 2015CAD | Dec. 31, 2014USD ($) | Mar. 10, 2014CAD | |
Debt Instrument [Line Items] | ||||||
Discounted amount of the loan | $ 5,161,808 | $ 5,161,808 | $ 2,274,802 | |||
Minister of Agriculture and Agri Food of Canada [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Loan granted under the Contribution agreement | 8,094,000 | $ 8,094,000 | CAD 10,000,000 | $ 6,254,108 | CAD 10,000,000 | |
Starting period of repayment of loan | Mar. 31, 2016 | |||||
Ending period of repayment of loan | Mar. 31, 2025 | |||||
Proceeds from loans disbursement | 0 | |||||
Minister of Agriculture and Agri Food of Canada [Member] | Third and last disbursement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from loans disbursement | CAD 2,745,000 | $ 2,221,523 | ||||
Discounted amount of the loan | $ 1,197,288 | |||||
Discount rate of debt | 12.00% | |||||
Discounted amount of the loan | $ 1,024,235 | $ 1,024,235 |
Long-term debt - Comerica Bank,
Long-term debt - Comerica Bank, Export Development Canada and Farm Credit Canada - Additional Information (Detail) | 6 Months Ended | ||||
Jun. 30, 2015USD ($) | Jun. 30, 2015CAD | Jun. 30, 2015CAD | Dec. 31, 2014USD ($) | Jun. 20, 2014CAD | |
Debt Instrument [Line Items] | |||||
Commitment fee percentage | 2.00% | 2.00% | |||
Discounted amount of the loan | $ 5,161,808 | $ 2,274,802 | |||
Deferred financing cost | $ 1,386,472 | $ 1,043,788 | |||
Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Discount rate of debt | 15.00% | 15.00% | |||
Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Discount rate of debt | 12.00% | 12.00% | |||
Comerica Bank Export Development Canada And Farm Credit Canada [ Member] | |||||
Debt Instrument [Line Items] | |||||
Deferred financing cost | $ 1,200,098 | ||||
Comerica Bank Export Development Canada And Farm Credit Canada [ Member] | Loan Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Senior secured loan | CAD | CAD 20,000,000 | ||||
Variable interest rate | 1.00% | 1.00% | |||
Repayment terms | The loan’s principal will be repaid in 26 equal, quarterly installments beginning on September 30, 2015. | The loan’s principal will be repaid in 26 equal, quarterly installments beginning on September 30, 2015. | |||
Upfront fee percentage | 2.50% | 2.50% | |||
Deferred financing costs | $ 404,700 | CAD 500,000 | |||
Commitment fee percentage | 1.00% | 1.00% | |||
Discounted amount of the loan | $ 16,188,000 | ||||
Discount rate of debt | 12.00% | 12.00% | |||
Discounted amount of the loan | $ 1,899,534 | ||||
Cost of construction in progress | 792,801 | ||||
Deferred cost | $ 1,106,808 | ||||
Debt Instrument, Increase, Accrued Interest | CAD | CAD 6,000,000 | ||||
Minimum debt service ratio | 1.75 | 1.75 | |||
Comerica Bank Export Development Canada And Farm Credit Canada [ Member] | Loan Agreement [Member] | Mitsui [Member] | |||||
Debt Instrument [Line Items] | |||||
Percentage Of Secured Obligations | 30.00% | 30.00% | |||
Comerica Bank Export Development Canada And Farm Credit Canada [ Member] | Loan Agreement [Member] | BioAmber Sarnia [Member] | |||||
Debt Instrument [Line Items] | |||||
Percentage Of Secured Obligations | 70.00% | 70.00% | |||
Comerica Bank Export Development Canada And Farm Credit Canada [ Member] | Maximum [Member] | Loan Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Interest spread on variable rate | 5.00% | 5.00% | |||
Comerica Bank Export Development Canada And Farm Credit Canada [ Member] | Minimum [Member] | Loan Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Interest spread on variable rate | 4.00% | 4.00% |
Long-term debt - Tennenbaum Cap
Long-term debt - Tennenbaum Capital Partners, LLC (TCP) - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Dec. 17, 2014 | |
Debt Instrument [Line Items] | |||
Commitment fee percentage | 2.00% | ||
Period of repayment of term loan | 36 months | ||
Floating interest rate | 9.50% | ||
Percentage of term charge | 8.25% | ||
Loan amount | $ 25,000,000 | ||
Percentage of prepayment fee | 3.00% | ||
Deferred financing cost | $ 1,386,472 | $ 1,043,788 | |
Senior Secured Term Loan | |||
Debt Instrument [Line Items] | |||
Senior secured loan | $ 25,000,000 | ||
Hercules Technology Growth Capital, Inc [Member] | |||
Debt Instrument [Line Items] | |||
Senior secured loan | 19,200,000 | ||
Loan amount | $ 2,900,000 | ||
Tennenbaum Capital Partners, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Senior secured loan | $ 25,000,000 | $ 25,000,000 | |
Period of repayment of term loan | 3 years | ||
Debt covenant, unrestricted cash balance requirement | $ 48,700,000 | ||
Date of debt covenant, unrestricted cash balance requirement to maintain | Mar. 31, 2016 | ||
Outstanding principal balance of the term loan | $ 12,500,000 | ||
Debt Instrument, Payment Terms | BioAmber Sarnia’s trailing 6 month free cash flow shall be at least 85% of certain projections agreed to with the Lender. | ||
Deferred financing cost | $ 141,667 | ||
Tennenbaum Capital Partners, LLC [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt covenant, unrestricted cash balance requirement | $ 12,500,000 | ||
LIBOR rate [Member] | |||
Debt Instrument [Line Items] | |||
Percentage spread on prime rate | 9.27% | ||
LIBOR rate [Member] | Hercules Technology Growth Capital, Inc [Member] | |||
Debt Instrument [Line Items] | |||
Period of repayment of term loan | 3 months | ||
LIBOR rate [Member] | Tennenbaum Capital Partners, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Period of repayment of term loan | 3 months | ||
Floating interest rate | 9.50% | ||
Percentage spread on prime rate | 9.27% |
Long-term debt - Schedule of Ou
Long-term debt - Schedule of Outstanding Long Term Debt (Detail) | Mar. 20, 2013USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2015CAD | Mar. 10, 2014CAD | Nov. 30, 2011CAD | Sep. 30, 2011CAD |
Debt Instrument [Line Items] | ||||||||||
End of term charge | $ 171,875 | $ 238,492 | $ 343,750 | $ 474,362 | ||||||
Amortization of debt discount | 1,255,600 | $ 303,635 | ||||||||
Less: short-term portion of debt | (12,025,123) | (12,025,123) | $ (2,977,707) | |||||||
Long-term debt, net | 46,186,934 | 46,186,934 | 34,653,101 | |||||||
Sustainable Chemistry Alliance [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Face value | 404,700 | 404,700 | 431,000 | CAD 500,000 | CAD 500,000 | |||||
Less: debt discount | (194,760) | (194,760) | (207,417) | |||||||
Amortization of debt discount | 105,603 | 97,778 | ||||||||
Less: short-term portion of debt | (40,470) | (40,470) | ||||||||
Long-term debt, net | 275,073 | 275,073 | 321,361 | |||||||
Sustainable Jobs and Investment Fund [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Face value | 12,141,000 | 12,141,000 | 6,249,585 | 15,000,000 | CAD 15,000,000 | |||||
Less: debt discount | (5,562,249) | (5,562,249) | (2,963,205) | |||||||
Amortization of debt discount | 574,904 | 248,000 | ||||||||
Long-term debt, net | 7,153,655 | 7,153,655 | 3,534,380 | |||||||
Federal Economic Development Agency [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Face value | 9,712,800 | 9,712,800 | 9,097,991 | 12,000,000 | CAD 12,000,000 | |||||
Less: debt discount | (3,446,816) | (3,446,816) | (3,302,910) | |||||||
Gain on debt extinguishment | $ (314,305) | (654,324) | (696,846) | |||||||
Amortization of debt discount | 1,233,387 | 872,602 | ||||||||
Less: short-term portion of debt | (1,456,920) | (1,456,920) | (457,255) | |||||||
Long-term debt, net | 5,388,127 | 5,388,127 | 5,513,582 | |||||||
Minister of Agriculture and Agri Food of Canada [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Face value | 8,094,000 | 8,094,000 | 6,254,108 | 10,000,000 | CAD 10,000,000 | |||||
Less: debt discount | (3,841,513) | (3,841,513) | (3,000,363) | |||||||
Amortization of debt discount | 286,891 | 50,485 | ||||||||
Less: short-term portion of debt | (297,027) | (297,027) | ||||||||
Long-term debt, net | 4,242,351 | 4,242,351 | 3,304,230 | |||||||
Tennenbaum Capital Partners, LLC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Face value | 25,000,000 | 25,000,000 | 25,000,000 | |||||||
Less: debt discount | (500,000) | (500,000) | (500,000) | |||||||
End of term charge | 343,750 | |||||||||
Amortization of debt discount | 83,333 | |||||||||
Less: short-term portion of debt | (7,740,244) | (7,740,244) | (2,520,452) | |||||||
Long-term debt, net | 17,186,839 | 17,186,839 | 21,979,548 | |||||||
EDC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Face value | 16,188,000 | 16,188,000 | CAD 20,000,000 | |||||||
Less: debt discount | (1,899,534) | (1,899,534) | ||||||||
Amortization of debt discount | 142,885 | |||||||||
Less: short-term portion of debt | (2,490,462) | (2,490,462) | ||||||||
Long-term debt, net | $ 11,940,889 | $ 11,940,889 | $ 21,979,548 |
Long-term debt - Schedule of 53
Long-term debt - Schedule of Outstanding Long Term Debt (Parenthetical) (Detail) | Jun. 30, 2015USD ($) | Jun. 30, 2015CAD | Dec. 31, 2014USD ($) | Mar. 10, 2014CAD | Nov. 30, 2011CAD | Sep. 30, 2011CAD |
Sustainable Chemistry Alliance [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured loan | $ 404,700 | CAD 500,000 | $ 431,000 | CAD 500,000 | ||
Sustainable Jobs and Investment Fund [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured loan | 12,141,000 | 15,000,000 | 6,249,585 | CAD 15,000,000 | ||
Federal Economic Development Agency [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured loan | 9,712,800 | 12,000,000 | 9,097,991 | CAD 12,000,000 | ||
Minister of Agriculture and Agri Food of Canada [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured loan | 8,094,000 | 10,000,000 | $ 6,254,108 | CAD 10,000,000 | ||
EDC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured loan | $ 16,188,000 | CAD 20,000,000 |
Long-term debt - Principal Repa
Long-term debt - Principal Repayments of Outstanding Loans Payable (Detail) | Jun. 30, 2015USD ($) |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2015 - June 2016 | $ 12,025,123 |
July 2016 - June 2017 | 16,631,585 |
July 2017 - June 2018 | 11,438,259 |
July 2018 - June 2019 | 7,833,244 |
July 2019 and thereafter | 23,612,289 |
Total | 71,540,500 |
Sustainable Chemistry Alliance [Member] | |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2015 - June 2016 | 40,470 |
July 2016 - June 2017 | 80,940 |
July 2017 - June 2018 | 80,940 |
July 2018 - June 2019 | 80,940 |
July 2019 and thereafter | 121,410 |
Total | 404,700 |
Sustainable Jobs and Investment Fund [Member] | |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2018 - June 2019 | 2,428,200 |
July 2019 and thereafter | 9,712,800 |
Total | 12,141,000 |
Federal Economic Development Agency [Member] | |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2015 - June 2016 | 1,456,920 |
July 2016 - June 2017 | 1,942,560 |
July 2017 - June 2018 | 1,942,560 |
July 2018 - June 2019 | 1,942,560 |
July 2019 and thereafter | 2,428,200 |
Total | 9,712,800 |
Minister of Agriculture and Agri Food of Canada [Member] | |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2015 - June 2016 | 297,027 |
July 2016 - June 2017 | 891,082 |
July 2017 - June 2018 | 891,082 |
July 2018 - June 2019 | 891,082 |
July 2019 and thereafter | 5,123,727 |
Total | 8,094,000 |
Tennenbaum Capital Partners, LLC [Member] | |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2015 - June 2016 | 7,740,244 |
July 2016 - June 2017 | 11,226,541 |
July 2017 - June 2018 | 6,033,215 |
Total | 25,000,000 |
EDC [Member] | |
Schedule Of Outstanding Principal Balance And Related Carrying Amount Of Acquired Loans [Line Items] | |
July 2015 - June 2016 | 2,490,462 |
July 2016 - June 2017 | 2,490,462 |
July 2017 - June 2018 | 2,490,462 |
July 2018 - June 2019 | 2,490,462 |
July 2019 and thereafter | 6,226,152 |
Total | $ 16,188,000 |
Deferred Grants - Additional In
Deferred Grants - Additional Information (Detail) | 6 Months Ended | |||
Jun. 30, 2015USD ($) | Jun. 30, 2015CAD | Jun. 30, 2015CAD | Dec. 31, 2014USD ($) | |
Deferred Grants [Line Items] | ||||
Outstanding deferred grants | $ 5,161,808 | $ 2,274,802 | ||
Sustainable Chemistry Alliance [Member] | ||||
Deferred Grants [Line Items] | ||||
Outstanding deferred grants | 194,760 | $ 207,417 | ||
Loan grant portion deferred amount | 194,760 | |||
EDC [Member] | ||||
Deferred Grants [Line Items] | ||||
Outstanding deferred grants | $ 1,106,733 | |||
Milestone I [Member] | ||||
Deferred Grants [Line Items] | ||||
Milestone achievement date | Oct. 31, 2012 | Oct. 31, 2012 | ||
Revenue received in grants | $ 1,604,818 | CAD 1,982,726 | ||
Milestone II A [Member] | ||||
Deferred Grants [Line Items] | ||||
Milestone achievement date | Dec. 31, 2014 | Dec. 31, 2014 | ||
Outstanding deferred grants | $ 2,440,516 | CAD 3,015,000 | ||
Milestone II B [Member] | ||||
Deferred Grants [Line Items] | ||||
Milestone achievement date | Dec. 31, 2014 | Dec. 31, 2014 | ||
Revenue received in grants | $ 725,465 | CAD 896,300 | ||
Milestone III [Member] | ||||
Deferred Grants [Line Items] | ||||
Milestone achievement date | Jun. 30, 2015 | Jun. 30, 2015 | ||
Revenue received in grants | $ 1,941,499 | CAD 2,398,359 | ||
Milestone IV [Member] | ||||
Deferred Grants [Line Items] | ||||
Grants to be received | $ 1,163,687 | 1,437,715 | ||
Milestone achievement date | Dec. 31, 2016 | Dec. 31, 2016 | ||
Revenue received in grants | $ 3,860,315 | CAD 4,769,354 | ||
Sustainable Development Technology Canada [Member] | ||||
Deferred Grants [Line Items] | ||||
Grants to be received | $ 11,736,300 | CAD 14,500,000 |
Deferred Grants - Summary of Ou
Deferred Grants - Summary of Outstanding Current Liability Deferred Grant (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Deferred Grants [Line Items] | ||
Total | $ 5,161,808 | $ 2,274,802 |
Sustainable Development Technology Canada [Member] | ||
Deferred Grants [Line Items] | ||
Total | 3,860,315 | 2,067,385 |
Sustainable Chemistry Alliance [Member] | ||
Deferred Grants [Line Items] | ||
Total | 194,760 | $ 207,417 |
EDC [Member] | ||
Deferred Grants [Line Items] | ||
Total | $ 1,106,733 |
Financial charges (income), n57
Financial charges (income), net - Schedule of Financial Charges or Income Net (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Debt Disclosure [Abstract] | ||||
End of term charge on long-term debt (Note 7 vii) ) | $ 171,875 | $ 238,492 | $ 343,750 | $ 474,362 |
Interest on long-term debt | 600,348 | 631,944 | 1,194,098 | 1,256,944 |
Revaluation of the warrants financial liability (Note 12) | 3,056,000 | 3,040,000 | 2,736,000 | 14,640,000 |
Interest (revenue) expense, net | 542 | (39,637) | (14,273) | (147,786) |
Total financial charges (income), net | $ 3,828,765 | $ 3,870,799 | $ 4,259,575 | $ 16,223,520 |
Commitments and contingencies -
Commitments and contingencies - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015CAD | Dec. 31, 2014USD ($) | |
Commitments And Contingencies [Line Items] | ||||||
Future lease payments | $ 1,655,050 | |||||
Royalty Expense | $ 54,393 | $ 135,224 | $ 181,433 | $ 317,307 | ||
Litigation outstanding | 0 | 0 | ||||
BioAmber Sarnia [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Payments related to agreements | $ 607,050 | $ 607,050 | CAD 750,000 |
Commitments and contingencies59
Commitments and contingencies - Schedule of Future Lease Payments (Detail) | Dec. 31, 2014USD ($) |
Commitments And Contingencies Disclosure [Abstract] | |
2,015 | $ 383,246 |
2,016 | 220,906 |
2,017 | 173,468 |
2,018 | 177,436 |
2,019 | 200,834 |
Thereafter | $ 499,160 |
Commitments and contingencies60
Commitments and contingencies - Schedule of Royalty Payments (Detail) | Dec. 31, 2014USD ($) |
Commitments And Contingencies Disclosure [Abstract] | |
2,015 | $ 562,667 |
2,016 | 523,500 |
2,017 | 652,667 |
2,018 | 736,000 |
2,019 | 736,000 |
Thereafter | $ 6,407,167 |
Commitments and contingencies61
Commitments and contingencies - Commitments Related to Purchase Obligations and Service Payments (Detail) - BioAmber Sarnia [Member] | Dec. 31, 2014USD ($) |
Commitments And Contingencies [Line Items] | |
2,015 | $ 1,276,214 |
2,016 | 2,323,733 |
2,017 | 2,541,857 |
2,018 | 2,541,857 |
2,019 | 2,541,857 |
Thereafter | $ 8,682,382 |
Redeemable non-controlling in62
Redeemable non-controlling interest - Additional Information (Detail) CAD in Millions | May. 14, 2015USD ($) | May. 14, 2015CAD | Apr. 30, 2015USD ($) | Apr. 30, 2015CAD | Feb. 06, 2015USD ($) | Feb. 06, 2015CAD | Aug. 15, 2014USD ($) | Aug. 15, 2014CAD | Jan. 29, 2014USD ($) | Jan. 29, 2014CAD | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jan. 24, 2014 |
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Amended joint venture agreement date | Jan. 24, 2014 | ||||||||||||
Put option expiration date | Dec. 31, 2018 | ||||||||||||
Reclassification of non-controlling interest to redeemable non-controlling interest | $ 2,125,925 | ||||||||||||
Estimated redeemable non-controlling interest redemption value | $ 15,900,000 | ||||||||||||
Mitsui [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Equity contribution by joint venture partner | $ 1,100,000 | CAD 1.3 | $ 1,100,000 | CAD 1.3 | $ 2,000,000 | CAD 2.6 | $ 16,500,000 | CAD 18 | $ 8,100,000 | CAD 9 | |||
Percentage of ownership maintained | 30.00% | 30.00% | 30.00% | 30.00% | |||||||||
Percentage of ownership maintained | 50.00% |
Redeemable non-controlling in63
Redeemable non-controlling interest - Schedule of Redeemable Non-controlling Interest Activity (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Statement Of Stockholders Equity [Abstract] | |||||
Beginning balance | $ 24,190,412 | ||||
Reclassification of non-controlling interest to redeemable non-controlling interest | $ 2,125,925 | ||||
Mitsui’s additional capital contribution | $ 4,302,323 | 4,302,323 | 24,608,700 | ||
Net loss attributable to non-controlling interest (NCI) | (800,214) | $ (152,579) | (1,510,508) | $ (193,575) | (874,890) |
Accumulated other comprehensive loss attributable to NCI | (1,623,692) | (1,669,323) | |||
Ending balance | $ 25,358,535 | $ 25,358,535 | $ 24,190,412 |
Share capital - Secondary Publi
Share capital - Secondary Public Offerings - Additional Information (Detail) - May. 06, 2015 - Secondary Public Offering [Member] - USD ($) $ / shares in Units, $ in Millions | Total |
Schedule Of Capitalization Equity [Line Items] | |
Issuance of shares, shares | 3,900,000 |
Price per share issued | $ 9 |
Net proceeds from IPO, after deducting underwriting discounts and estimated expenses | $ 32.8 |
Share capital - Warrants financ
Share capital - Warrants financial liability and Warrants - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
May. 31, 2015$ / sharesshares | Jun. 30, 2015USD ($)$ / shares$ / Warrant | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)$ / shares$ / Warrantshares | Jun. 30, 2014USD ($)$ / sharesshares | May. 06, 2015$ / shares | Dec. 31, 2014$ / shares | |
Schedule Of Capitalization Equity [Line Items] | |||||||
Exercise price of common stock | $ 11 | $ 11 | $ 9 | ||||
Fair value of warrants | $ / Warrant | 2.02 | 2.02 | |||||
Liability recorded at unit issuance date | $ | $ 16,100,000 | ||||||
Closing value of per warrant | $ 1.972 | $ 1.972 | $ 1.63 | ||||
Financial charge related to warrants fair value adjustments | $ | $ 3,056,000 | $ 3,040,000 | $ 2,736,000 | $ 14,640,000 | |||
Additional warrants exercise price | $ 10.11 | ||||||
Warrants expiration date | Apr. 1, 2021 | ||||||
Additional number of warrants issued | shares | 4,124 | ||||||
Class of Warrant One [Member] | |||||||
Schedule Of Capitalization Equity [Line Items] | |||||||
Additional number of warrants exercised | shares | 2,625 | 3,500 | |||||
Additional warrants exercise price | $ 1.07 | $ 1.07 | |||||
Class of Warrant Two [Member] | |||||||
Schedule Of Capitalization Equity [Line Items] | |||||||
Additional number of warrants exercised | shares | 105,000 | 3,430 | |||||
Additional warrants exercise price | $ 1.43 | $ 1.43 |
Share capital - Schedule of Ass
Share capital - Schedule of Assumptions Using Black-Scholes Option Pricing Model (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Risk free interest rate | 1.66% | 1.93% | 1.78% | 2.53% |
Expected life | 6 years 3 months | 6 years 3 months | 6 years 3 months | 10 years |
Volatility | 81.99% | 57.79% | 84.42% | 72.31% |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Warrants | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Risk free interest rate | 0.54% | |||
Expected life | 4 years | |||
Volatility | 56.06% | |||
Expected dividend yield | 0.00% | |||
Forfeiture rate | 0.00% |
Share capital - Summary of Stoc
Share capital - Summary of Stock-Based Compensation Expense (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 1,505,115 | $ 3,037,960 | $ 3,012,813 | $ 4,521,641 |
General and administrative [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 882,219 | 796,215 | 1,683,893 | 1,460,237 |
Research and development [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 507,168 | 1,583,261 | 1,069,851 | 2,230,786 |
Sales and marketing [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 115,728 | $ 658,484 | $ 259,069 | $ 830,618 |
Share capital - Summary of Opti
Share capital - Summary of Options Activity (Detail) - $ / shares | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||
Number of options, Outstanding, beginning of period | 5,160,450 | 4,342,841 | 4,923,596 | 4,329,560 | 4,329,560 |
Number of options, Granted | 98,000 | 125,901 | 358,000 | 185,901 | |
Number of options, Exercised | (14,000) | (21,000) | (14,000) | (21,000) | |
Number of options, Forfeited/Cancelled | (29,896) | (314,542) | (53,042) | (361,261) | |
Number of options, Options Outstanding, end of period | 5,214,554 | 4,133,200 | 5,214,554 | 4,133,200 | 4,923,596 |
Number of options, Options Exercisable, end of period | 2,710,618 | 1,588,022 | 2,710,618 | 1,588,022 | |
Weighted Average Exercise price, beginning of period | $ 7.72 | $ 8.49 | $ 7.67 | $ 8.46 | $ 8.46 |
Weighted Average Exercise price, Granted | 8.95 | 10.27 | 8.70 | 10.84 | |
Weighted Average Exercise price, Exercised | 10.55 | 5.74 | 9.62 | 5.74 | |
Weighted Average Exercise price, Forfeited/Cancelled | 5.74 | 27.06 | 5.74 | 24.86 | |
Weighted Average Exercise price, end of period | 7.72 | 7.15 | 7.72 | 7.15 | $ 7.67 |
Weighted Average Exercise price, Exercisable | 6.92 | 6.46 | 6.92 | 6.46 | |
Per share weighted average grant-date fair value of options granted | $ 7.02 | $ 5.73 | $ 6.48 | $ 6.05 |
Share capital - Stock option pl
Share capital - Stock option plan - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Weighted-average contractual life of options outstanding | 7 years 7 months 24 days |
Weighted-average contractual life of options exercisable | 6 years 6 months |
Share capital - Summary of Warr
Share capital - Summary of Warrants Outstanding to Acquire Common Shares (Detail) - $ / shares | 1 Months Ended | 6 Months Ended | |
May. 31, 2015 | Jun. 30, 2015 | May. 06, 2015 | |
Class Of Warrant Or Right [Line Items] | |||
Number | 5,145,555 | ||
Exercise price | $ 11 | $ 9 | |
Expiration date | Apr. 1, 2021 | ||
$1.07 [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Number | 331,846 | ||
Exercise price | $ 1.07 | ||
$1.07 [Member] | Minimum [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Expiration date | Jul. 31, 2016 | ||
$1.07 [Member] | Maximum [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Expiration date | Apr. 30, 2019 | ||
$1.43 [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Number | 505,890 | ||
Exercise price | $ 1.43 | ||
Expiration date | Feb. 28, 2019 | ||
$5.74 [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Number | 208,950 | ||
Exercise price | $ 5.74 | ||
Expiration date | Jun. 30, 2019 | ||
$10.11 [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Number | 98,869 | ||
Exercise price | $ 10.11 | ||
Expiration date | Apr. 30, 2021 | ||
$9.00 [Member] | |||
Class Of Warrant Or Right [Line Items] | |||
Number | 4,000,000 | ||
Exercise price | $ 9 | ||
Expiration date | May 31, 2017 |
Income taxes - Additional Infor
Income taxes - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |||
Measurement of tax position | Greater than 50 percent | ||
Percentage of tax position is measured | 50.00% | ||
Open tax years, starts | Dec. 31, 2010 | ||
Open tax years, ends | Dec. 31, 2014 | ||
Effective income tax rates | 0.07% | 0.07% | |
U.S. federal statutory income tax rate | 40.54% | ||
Income tax examination, beginning year | 2,010 | ||
Income tax examination, ending year | 2,015 |
Financial instruments - Additio
Financial instruments - Additional Information (Detail) $ in Millions | 6 Months Ended | |
Jun. 30, 2015USD ($)Customer | Jun. 30, 2014Customer | |
Financial Instruments Owned And Pledged As Collateral [Line Items] | ||
Percentage of amount due from one customer of total accounts receivable | 57.00% | 63.00% |
Period of repayment of term loan | 36 months | |
Floating interest rate | 9.50% | |
LIBOR rate [Member] | ||
Financial Instruments Owned And Pledged As Collateral [Line Items] | ||
Percentage spread on prime rate | 9.27% | |
Tennenbaum Capital Partners, LLC [Member] | ||
Financial Instruments Owned And Pledged As Collateral [Line Items] | ||
Debt covenant, unrestricted cash balance requirement | $ 48.7 | |
Period of repayment of term loan | 3 years | |
Tennenbaum Capital Partners, LLC [Member] | LIBOR rate [Member] | ||
Financial Instruments Owned And Pledged As Collateral [Line Items] | ||
Period of repayment of term loan | 3 months | |
Floating interest rate | 9.50% | |
Percentage spread on prime rate | 9.27% | |
Customer concentration risk [Member] | Accounts receivable [Member] | ||
Financial Instruments Owned And Pledged As Collateral [Line Items] | ||
Number of major customer | Customer | 2 | 1 |
Fair value of financial asset73
Fair value of financial assets and liabilities - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2015 | |
Minimum [Member] | |
Fair Value Disclosures [Abstract] | |
Discount rate for interest free loans | 12.00% |
Maximum [Member] | |
Fair Value Disclosures [Abstract] | |
Discount rate for interest free loans | 15.00% |
Related party transactions - Sc
Related party transactions - Schedule of Transactions with Related Parties (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ||||
Product sales to a shareholder | $ 8,000 | $ 42,104 | $ 11,250 | $ 63,686 |
Business segments - Non-Current
Business segments - Non-Current Assets of Company Geographic Segment (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 126,962,707 | $ 88,664,899 |
Investment in equity method and cost investments | 447,682 | 34,817 |
Intangible assets, net (Note 5) | 5,313,260 | 4,332,911 |
Goodwill | 625,364 | 625,364 |
Europe | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net (Note 5) | 3,017,550 | 4,158,550 |
Goodwill | 625,364 | 625,364 |
North America | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 126,962,707 | 88,664,899 |
Investment in equity method and cost investments | 447,682 | 34,817 |
Intangible assets, net (Note 5) | $ 2,295,710 | $ 174,361 |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) - Tennenbaum Capital Partners, LLC [Member] - USD ($) | Jul. 29, 2015 | Jun. 30, 2015 |
Minimum [Member] | ||
Subsequent Event [Line Items] | ||
Debt covenant, restricted cash balance requirement, from July 29, 2015 to December 31, 2015 | $ 12,500,000 | |
Debt covenant, restricted cash balance requirement, thereafter December 31, 2015 | 12,500,000 | |
BioAmber Sarnia [Member] | ||
Subsequent Event [Line Items] | ||
Permitted investment | $ 10,000,000 | |
Subsequent Event | ||
Subsequent Event [Line Items] | ||
Amendment fee | $ 500,000 | |
Subsequent Event | Minimum [Member] | ||
Subsequent Event [Line Items] | ||
Debt covenant, restricted cash balance requirement, from July 29, 2015 to December 31, 2015 | 15,000,000 | |
Debt covenant, restricted cash balance requirement, from July 29, 2015 to December 31, 2015, if Company's revenue exceeds minimum threshold | 12,500,000 | |
Subsequent Event | BioAmber Sarnia [Member] | ||
Subsequent Event [Line Items] | ||
Permitted investment | $ 25,000,000 |