Amyris is having an incredible day in the market today, and for good reason. The company announced that it has entered into an agreement with Biogen. Today, we’ll talk about the details of the agreement, how the stock reacted to the news, and what we can expect to see from AMRS moving forward. So, let’s get right to it…
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AMRS Enters Into An Agreement With BIIB
As mentioned above, Amyris is having an incredibly strong day in the market today after announcing that it has entered into a partnership with Biogen. The goal of the partnership is to look into the use of advanced microbe engineering technology to evaluate and develop multiple host microorganisms as alternatives to mammalian cell lines for the production of therapeutic recombinant proteins. AMRS has the technology that will be evaluated. In return BIIB will fund the process.
While tremendous progress has been made, limitations are still associated with recombinant protein therapies. The goal is to engineer mammalian cell lines to produce needed protein. The companies hope to do so through the partnership while finding a way to reduce limitations. In a statement, Cynthia Bryant, SVP of Corporate Development and Collaborations at AMRS, had the following to say with regard to the partnership:
“We are pleased to have signed our second major partnership in the biopharma market and we believe with Biogen, the biopharma market is now well positioned to become our largest opportunity for collaborations….”
The above statement was followed up by Joel Cherry, President of Research and Development at Amyris. Here’s what he had to say:
“Over the course of the partnership, Amyris will utilize its leading strain engineering and screening technology to evaluate the tractability of each selected species as a new potential cell line for recombinant protein production… Selected candidates from the initial work will go into a second phase of development to create commercially robust cell lines for use in drug manufacturing.”
How The Stock Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. Any time positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock associated with the company. Negative news, on the other hand, will lead to declines. In this particular case, the news surrounding AMRS was overwhelmingly positive. As a result, we’re seeing strong gains in the value of the stock today. Currently (12:45), the stock is trading at $0.36 per share after a gain of $0.03 per share (10.09%) thus far today.
What We Can Expect To See Moving Forward
Over the past year, there’s no denying the fact that Amyris has had a rough time in the market. However, it’s my opinion that the struggles the company has seen will be coming to an end soon. At the end of the day, this is the second partnership agreement that we’ve seen from the company recently. The other partnership involves using AMRS technologies to develop fragrance ingredients. All in all, the company continues to expand its reach. With incredible proprietary technology, I’m expecting these partnerships to work out well, leading to strong revenue for the company in the long run.
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What Do You Think?
Where do you think AMRS is headed? Join the discussion at TalkTRENDZ!
[Image Courtesy of Pixabay]