Jean-Francois Huc, CEO of BioAmber, bought 4,000 shares of BioAmber (Stock Symbol: BIOA) at $12 per share for a total amount of $48 thousand on July 16, 2014.
BioAmber is headquartered in Montreal, Canada.
On Jul 24, 2014, it was announced that BioAmber stock has moved higher by 29.0% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.
On Aug 7, 2014, BioAmber announced its latest quarterly results. Cash on hand was $54.3 million as of June 30, 2014. A total of CDN$27 million in non-dilutive funding was secured for the Sarnia project: a CDN$7 million grant from Sustainable Development Technology Canada and a CDN$20 million commercial loan from a consortium led by Export Development Canada and including Farm Credit Canada and U.S. based Comerica Bank. Following the end of the quarter, BioAmber completed an offering of 3.22 million common shares at a price of $12.00 per share, resulting in net proceeds of $35.8 million. Net cash used in operating activities for the quarter ended June 30, 2014 was $3.1 million.
According to Capital IQ, BioAmber has a market cap of $273.67 million, an enterprise value of $252.06 million, and trailing 12 month revenues of $2.07 million.
BioAmber Inc., an industrial biotechnology company, produces and sells bio-succinic acid to customers in various chemical markets in the United States. Its proprietary technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into chemicals that are replacements for petroleum-derived chemicals. The companys bio-succinic acid is used in various applications, including plasticizers, polyurethanes, personal care products, resins and coatings, de-icing and coolant solutions, fine chemicals, lubricants, and food additives, as well as anti-freeze solutions, coolants solvents, water treatment chemicals, laundry tablets and bath salts, artificial leather products, and foams made with recycled polyethylene terephthalate. Its product pipeline also includes bio-succinic acid derivatives, such as 1, 4 butanediol, gamma-butyrolactone, and succinic acid based polyesters. The company sells its products directly to its customers and commercial partners, as well as indirectly through distributor in the Asia-Pacific region. It has strategic relationships with various companies, including Mitsubishi Chemical Corporation for bio-succinic acid. The company was formerly known as DNP Green Technology, Inc. and changed its name to BioAmber Inc. in September 2010.
Jean-Francois Huc’s most recent annual compensation from BioAmber is a salary of $833,000. Mr. Huc is 50 years old.
According to his biography, Mr. Jean-Francois Huc is President and Chief Executive Officer at BioAmber, Inc. Prior to that, he was Chief Operating Officer of Diversified Natural Products (DNP), where oversaw the spin off of the succinic acid assets. Prior to DNP Mr. Huc was CEO of TGN Biotech, a company producing recombinant proteins in transgenic animals. Prior to that, he was the founder and CEO of MedExact, a startup offering web-based promotional services to pharmaceutical companies in the US and France. Mr. Huc is a former Vice President of Alliance Management for Sanofi-Synthelabo. Mr. Huc has an M.B.A. from York University in Toronto and an undergraduate degree in biochemistry from the University of Western Ontario.
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