Amyris plunges to new record low, recovers


Amyris Inc. [previously], the UC Berkeley-spawned GMO start-up bankrolled by Bill Gates, Al Gore, and Arab oil sheikhs plunged to less than three shares for a buck before adding on six cents a share by the close of market Tuesday.

The record low of thirty-one cents a share was more than a hundred times below the post-IPO high of $33.85 less than five years ago.

The modest recovery was spawned by news that the company, which abandoned its goal of producing cheap fuel from plant cellulose in favor of turning out basic oils and compounds for cosmetics, had signed a new deal with perfume and flavor firm Givaudan to produce scents for perfumes.

The stock woes haven’t hut company founder and UC Berkeley bioengineer Jay Keasling, who sold his stock soon after the IPO, pocketing a eight-figure payoff, a sum that would be worth in the low six figures if he’d held on to his stock.

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