Is Amyris Finally Turning a Corner?

One of the single-biggest issues facing investors interested in synthetic biology pioneer Amyris (NASDAQ: AMRS) has been a relatively simple one: product gross margin. The business has routinely spent more money manufacturing products than it has received selling them. In 2019, the business spent $1.27 for every $1 generated from product sales. Needless to say, it's an unsustainable strategy.

But first-quarter 2020 operating results showed a surprisingly quick turnaround. Amyris reported a product gross margin of 34% -- easily the best in the company's history. Considering the company's history of overpromising and underdelivering, what should investors think of the latest results and the potential trajectory of the small-cap stock?

Image source: Getty Images.

Source Fool.com