Avid Bioservices Inc (CDMO)

[exwannabe]

Horselover, there is certainly a good reason why the shorts are exiting.

PPHM is basically trading at Avid valuation. It is no longer a "short any and all dev stage bio" play, it has become a valuation play on a relatively boring contract biologic manufacturer.

As such they will be paying a high carry, have risk (yes, any bio can rise from the dead). All the while hoping for a minor gain if Avid misses revenue targets.

I did short stocks back in 2001-2004 or so. The targets were easy with a lot less risk. I can not imaging any individual shorting bio, way too risky.