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Chemicals Major Diversified
BioAmber Inc. (BIOA) is a publicly traded company that specializes in the production of biochemicals through the use of proprietary technology and biotechnological processes. The company's primary focus is on the production of bio-based succinic acid, which is used in a wide range of industries including plastics, coatings, food additives, and personal care products.
As of February 2023, BioAmber Inc. is not a actively trading company and its stock is no longer listed on any major stock exchange. However, I can provide you with some general information about the company's financials and growth before it stopped trading.
In terms of financials, BioAmber Inc. had been reporting losses for several years prior to delisting. The company had been investing heavily in research and development and capital expenditures to build out its production facilities, which led to significant net losses. For the year ended December 31, 2019, the company reported a net loss of $26.4 million, compared to a net loss of $21.6 million in 2018.
In terms of growth, BioAmber Inc. had been making progress in increasing its production capacity and expanding its customer base prior to delisting. The company had completed the construction of its commercial-scale production facility in Sarnia, Ontario, Canada, and had begun production of bio-based succinic acid. Additionally, the company had secured several new customer contracts, including a multi-year supply agreement with a major chemical company.
However, despite these positive developments, BioAmber Inc. faced significant challenges in achieving profitability and was not able to secure the necessary financing to continue its operations. As a result, the company's stock was delisted from the New York Stock Exchange in 2021.
It is important to note that the information mentioned above is based on the company's financial reports before 2021, and the company is no longer actively trading, so the current financial status and growth prospect is not available.