Benzinga | Jul 27, 2020 11:26AM EDT

Why Amyris Is Trading Higher Today

Amyris (NASDAQ:AMRS) shares are trading higher on Monday after the company signed a binding term sheet for a planned COVID-19 RNA vaccine technology program with the Infectious Disease Research Institute.

Amyris is an industrial biotechnology company. It is engaged in the engineering, manufacturing, and sales of products in a variety of consumer and industrial markets, including cosmetics, flavors and fragrances, solvents and cleaners, polymers, lubricants, healthcare products and fuels. The company generates revenue from the sale of renewable products, licenses of and royalties from intellectual property, and grants and collaborative research and development services.

Amyris shares were up 10.21% at $4.70 during the time of publication on Monday. The stock has a 52-week range between $6.07 and $1.40.