Revenue Update on Bioamber Inc(NYSE:BIOA)

Bioamber Inc(NYSE:BIOA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $2.52M. Analysts estimated a revenue of $2.37M. Earnings per share were $-0.25. Analysts had estimated an EPS of $-0.27.

Bioamber Inc (BIOA) shares turned negative on Wednesdays trading session with the shares closing down -0.19 points or -5.28% at a volume of 24,623. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.63. The peak price level was also seen at $3.63 while the days lowest was $3.4. Finally the shares closed at $3.41. The 52-week high of the shares is $8.9191 while the 52-week low is $2.86. According to the latest information available, the market cap of the company is $98 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Kurt W Briner (director) purchased 1,000 shares at $3.69 per share price.Also, On May 11, 2016, Jean-francois Huc (CEO) purchased 10,000 shares at $3.22 per share price.On May 11, 2016, Kenneth W. Wall (director) purchased 13,227 shares at $3.11 per share price, according to the Form-4 filing with the securities and exchange commission.

BioAmber Inc. (BioAmber) is an industrial biotechnology company which produces sustainable chemicals. The Company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for petroleum-derived chemicals which are used in a wide range of everyday products including plastics resins food additives and personal care products. The Company is developing three distinct technologies such as the production of succinic acid through fermentation; the conversion of succinic acid into 14 BDO THF and GBL by catalyst assisted hydrogenation reaction and the production of adipic acid and other C6 chemical intermediates through fermentation and purification with or without catalytic conversion. BioAmber manufactures and sells bio-succinic acid to the customers in a range of chemical markets. It produces bio-succinic acid in a facility using a 350000 liter fermenter in Pomacle France.

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