Avid Bioservices Inc (CDMO)

[realist1]

RE " I wouldn't be surprised if PPHM/AZN becomes more than non-exclusive once data reads out."

Do the deal!
merger via stock transaction.
More math. (fun with numbers)
.5 share of AZN for each PPHM share? (where'd I get that? out of thin air)
~$16 value to PPHM shareholders.
Assuming 274 million (let's call them committed shares)of PPHM = 137 new AZN shares.
AZN current shares 2.53 billion.
Represents an increase of shares outstanding to AZN of 5%.
Obviously it becomes dilutive NOT accretive to AZN short term as EPS would drop by more than the 5% since PPHM portion of biz is still a cash burner.
But longer term can it bring > 5% increase in EPS for AZN?
Current AZN EPS est. ~2 per share * 2.53 billion shares = ~5.06 $billion * 5% = $253 million. 75% operating margin means $337 million in revenues to create the 253$ million. (I used operating margin not net assuming SGA & R&D don't need to change as a result of acquisition)
Can it be justified?
Do the deal.
Quit dilly dallying around. Money talks and dilution walks!

Remember you can't beat the math, it's real.

I did this quick, someone check the numbers.......

So what ya wanna do?
Dilute to death for years, or create some shareholder value???????
Win / win? PPHM shareholders win. AZN wins if Bavi grows beyond the numbers used above.