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IMO Lytle should have been thrown out with the trash years ago. He must know where the bodies are buried to stay on.
Heh Djohn....you are absolutely correct with your assessment of Avid....all of us on this board are frustrated that it is taking so long to fill capacity and actually start making some profits, and yes $175 million is certainly not what we were hoping for, but still...a 20% increase in revenue at least would show investors that they are making progress....couple that with projections showing a clear path to $400 million in the next few years would be very good for the share price!
But I am going to try and put a positive spin on this whole convertible debacle.....the fact that no one has yet been blamed or fired(even though they should have been) tells me that they must have some pretty solid good news coming on revenues, and or some other really positive developments at Avid....as in things are looking so good, we are going to overlook this major screw up on financing and just concentrate on profits and the share price!
Am I reaching here??? Maybe but at least that would explain why this issue was basically swept under the rug!
Here are a few other points to consider.....Nick would not be sticking around if Avid was truly stuck in its current no growth/slow growth/no profit situation. If our June CC is not really positive, I would suggest that Nick will be on his way out!
And finally, I believe our capacity can be stretched well over $400 mil...they are just sticking to this number because they have made so little progress filling capacity, why even bother mentioning that when they get to $400 mil, there may still be considerable room to add to this.
That is my take for today.
Looks like we got a participation ribbon yea!!!
Show me the Money Nick!!!!
Now that's a worthy offset for the note screwup...That's what worship at the Blackrock altar earns?...imao...r
Avid Bioservices Earns Committed Badge from EcoVadis for Sustainability Performance
May 23, 2024 at 8:05 AM EDT
Download PDF
TUSTIN, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that the company has achieved a Committed Badge from EcoVadis, one of the world’s most trusted providers of business sustainability ratings. Avid earned a score of 56 from EcoVadis, placing the company in the 62nd percentile globally.
“We are pleased to be recognized for our commitment to sustainability. This impressive rating by EcoVadis validates the effort and performance of our team in integrating a focus on sustainability into our day-to-day business activities,” said Nick Green, president and CEO of Avid Bioservices. “While we are happy to be acknowledged for our work in this area, we recognize that sustainability is an ongoing effort, and we will continue to seek opportunities to improve our performance moving forward.”
EcoVadis is the global standard for business sustainability ratings. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement. More than 125,000 companies globally have been rated by EcoVadis.
EcoVadis’ business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide an evidenced-based analysis on performance and an actionable roadmap for continuous improvement. Learn more at www.EcoVadis.com/suppliers
About?Avid Bioservices, Inc.
Avid Bioservices (NASDAQ: CDMO) is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biologics. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With more than 30 years of experience producing biologics, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including cell line development, upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
Solid guidance of $175 million for 2025??? $175 million rev guidance for 2025 would be pathetic and failure for Avid's management IMO. $44 million in revenue per quarter for 2025 would give us around zero profits for 2025! 3rd Quarter 2024 we did $33.8 million in revenue and had a net loss of $6 million. Put another $2.5 million per quarter in interest cost we have to cover makes breakeven revenue about $42.3 million in rev. So we need around $170 million annually in revenue just to breakeven and start making a profit in 2025.
Would guiding the market that you will be filling 43% of your capacity in 2025FY be solid performance?
We need a very large manufacturing contract(or several smaller ones) for Avid to avoid a low ball buyout.
And we need it fast!
We seem to be tethered here in the $9 range(heh I am not complaining after falling into the $4's) and it looks like it will take some kind of catalyst for the next leg up in the stock price. This could come from our upcoming June CC if we come in on the high side or even beat last years revenue guidance? But more importantly, will Nick provide a solid guidance increase for the coming year....as in at least $175 mil???
I have no idea, but we really need to start filling our capacity if the share price is to have a sustained run. I know there are still a few job openings posted on Linked In, but I do not believe the head count has changed in the last 6 months, so it seems we are set to go?!
If Nick disappoints and does not guide higher in the coming year...it will not be good! Once again....we wait.
"WATCH for possible breakout above 9.49, no resistance...
in area just above.
Type: Continuation breakout from single resistance.
Target: 10.85, 16.8% Stop: 8.85 Loss: 4.7% P/L ratio: 3.6 : 1 - Excellent"
At Least According To:
https://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=CDMO
Glta $CDMO Bulls, Watchers, & StockHOLDERS!
Sleazy hedge fund pre and after market trading again. Shorts up to 11 Million.
In real time, Michael, I now see CDMO at $9.20, +$0.08. IHub quotes seem to be delayed by 15 min here.
ThinkOrSwim Shows Possible MarketMakerMove +/-$4.195, (RussellFundsBuying?)Glta,eom.
north4000
I get that but 300.000 after hour shares traded for CDMO is not the norm. Just trying to understand. Today IBB is close to up $1 while we are -4 Just saying
Michael
Michael, last Friday some institution or retail trader bought the shares of CDMO after 4:00 pm that cheynew recorded for us in her earlier message last Friday. Market conditions are different today, with new CDMO Bid and Ask prices that differ from AH last Friday.
cheynew
And falling makes no sense . Why trade up .50 after market close on a Friday ?
Michael
First premarket trade
Date/Time Price Shares Exch/Mkt
05/20/2024 9:05:17 EDT I 9.12 43 NDD
$CDMO Can Open AsHighAs $9.87 Without Creating UpGAP.glta,eom.
After hours volume 332,665, up .5 to 9.70.
Will we open at 9.7 or 9.12
mark of a thinly traded stock being accumulated for either a sizeable fill, or the MM taking a position.
Interesting….
05/17/2024 18:13:23 EDT T 9.85 300 NSD
05/17/2024 18:13:16 EDT T 9.85 1400 NSD
05/17/2024 18:13:12 EDT T 9.85 1400 NSD
05/17/2024 18:13:09 EDT T 9.85 1100 NSD
05/17/2024 18:13:09 EDT T 9.74 300 NSD
A lot of AH activity.
Date/Time Price Shares Exch/Mkt
05/17/2024 16:20:00 EDT P 9.12 1444 NDD
05/17/2024 16:03:04 EDT P 9.12 2528 NDD
05/17/2024 16:03:00 EDT I 9.12 59 NDD
05/17/2024 16:02:20 EDT P 9.12 303547 NDD
05/17/2024 16:02:08 EDT I 9.12 11 NDD
05/17/2024 16:02:00 EDT P 9.12 229 NDD
05/17/2024 16:01:46 EDT P 9.12 2241 NDD
05/17/2024 16:01:42 EDT P 9.12 766 NDD
05/17/2024 16:01:38 EDT P 9.12 422 NDD
05/17/2024 16:00:58 EDT I 9.12 6 NDD
05/17/2024 16:00:14 EDT P 9.12 999 NDD
05/17/2024 16:00:14 EDT P 9.12 3503 NDD
05/17/2024 16:00:14 EDT P 9.12 174 NDD
05/17/2024 16:00:13 EDT P 9.12 6547 NDD
05/17/2024 16:00:13 EDT P 9.12 161 NDD
05/17/2024 16:00:13 EDT P 9.12 169 NDD
05/17/2024 16:00:03 EDT T 9.12 100 NDD
05/17/2024 16:00:03 EDT I 9.12 9 NDD
05/17/2024 16:00:03 EDT T 9.12 250 NDD
05/17/2024 16:00:03 EDT T 9.12 1085 NDD
05/17/2024 16:00:00 EDT T 9.12 400 NDD
05/17/2024 16:00:00 EDT I 9.12 3 NDD
05/17/2024 16:00:00 EDT T 9.12 267 NDD
05/17/2024 16:00:00 EDT T 9.12 2915 NDD
05/17/2024 16:00:00 EDT X 9.12 337421 NSD
05/17
Nice one. I made some money and bookmarked the site.
"WATCH for possible breakout above 9.47, no resistance"...
Twice this week the pps had an early pop and a steady, slow decline the rest of the day closing just above the previous close. I think we will close around 9.30. This is the current pattern of the controlled trading. Of course I hope I am wrong and we head north.
POS
POS
POS
POS
POS
4
4
4
4
4
4
4
Why does Cubbie never visit when we’re going up? Nice pop today. Hope it holds.
April 30 the sp was 7.63. Was it enough to make the Russell?
"WATCH for possible breakout above 9.47, no resistance"...
"in area just above.
Type: Continuation breakout from single resistance.
Target: 10.82"
******************************
At Least According To:
https://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=CDMO
Glta $CDMO Bulls, Watchers, & StockHOLDERS!
Avid Bioservices: A Unique Growth Story With Many Tailwinds And Catalysts
Price Target $11 ???
https://seekingalpha.com/article/4693799-avid-bioservices-a-unique-growth-story-with-many-tailwinds-and-catalysts
Talk about strange things going on.
Now changed again---71 ,852,235 113.19%
Institutional Shares (Long) 71,568,313 - 112.74% (ex 13D/G)
Question to this board...:
How do you explain this?
2024-05-15 13F Newtyn Management, LLC 1,500,000 NEW
2024-05-15 13F AYAL Capital Advisors Ltd 1,050,000 NEW
AYAL Capital Advisors is a Toronto-based investment management firm. We employ a value-oriented approach to identify mispriced small and mid-cap North American companies. Our guiding principle is capital preservation.
Newtyn Management is a value-oriented investment firm founded in 2011 whose primary objective is to generate above-average risk-adjusted returns while maintaining low net exposure to overall financial market performance. The Firm, based in New York City, generally focuses on U.S. equity securities, but has the expertise and flexibility to take advantage of investment opportunities across the capital structure, regardless of jurisdiction. The Firm frequently seeks to capitalize on special opportunities that may arise from a corporate restructuring, bankruptcy or liquidation, proposed merger, acquisition or divestiture, or a new public offering. Newtyn employs a rigorous, bottom-up approach to investing, coupled with vigilant risk management and patience in times of scarce opportunity.
Institutional Shares (Long) 69,918,173 - 110.14%
Still subject to change as this is the deadline for 3/31 holdings reporting.
Please let us grow.
No buy out now.
Many 4 Decimal Trades? EndOfDay At HighOfDay? Glta,eom.
Maybe Avid commercial team actually sold something in Q4 2024?
HALO is having a good run. 38.10 on 4.30, now 45.42.
Update: "...2024 Russell Reconstitution schedule is as follows:"...
Tuesday, April 30th – “Rank Day” – Index membership eligibility for 2024 Russell Reconstitution determined from constituent market capitalization at market close.
Friday, May 24th – Preliminary index additions & deletions membership lists posted to the website after 6 PM US eastern time.
Friday, May 31st, June 7th, 14th and 21st – Preliminary membership lists (reflecting any updates) posted to the website after 6 PM US eastern time.
Monday, June 10th – “Lock-down” period begins with the updates to reconstitution membership considered to be final."
source link:
https://www.lseg.com/en/media-centre/press-releases/ftse-russell/2024/russell-reconstitution-2024-schedule
**********************************
So, By Now Some May Already Be Aware Of Which Companies Are On The Yet To Be Released List...
And They Could Be Buying CDMO Shares Early???
Hence, PPS Is Heading up, Up, UP,...
Glta Bulls, Watchers, & StockHOLDERS!
Institutional Shares (Long) 68,579,367 - 108.03% (ex 13D/G) - change of 8.12MM shares 13.85% MRQ
Institutional Value (Long) $ 425,115 USD ($1000)
Has Anyone Seen Russell Reconstitution List Yet? Glta,eom.
Interesting Opening! Glta $CDMO Bulls, Watchers, & StockHOLDERS!eom.
Anyone heard from levitating little bear lately? We seem to be back in the accumulation phase with heavy MM trading.
FFTT
JBAIN
sure looks like a scoop em all up, sell most down kind of accumulation. But for whom?
Let us hope he got something good to say and didn't go there to roast marshmallows.
Someone expecting new info to come out of the fireplace today?…I do know who should be standing in it tho…r
Unfortunately hardly any volume to speak of.
Will FridayNite’s Bullish AH Trading Continue InPreMarket Tomorrow?…
And, Could It Relate To Prior Posts/Discussions
Regarding Takeover/Buyout Rumor?
Glta $CDMO Bulls, Watchers, & StockHOLDERS!
Time&Sales for CDMO Trade Code Legend
Recent
Historical
Date:
Start time:
End time:
Go
Export
Date/Time Price Shares Exch/Mkt
05/10/2024 19:58:53 EDT I 9.00 1 ARCA
05/10/2024 19:58:52 EDT I 9.00 1 CBOE BZX
05/10/2024 19:58:04 EDT I 9.00 10 ARCA
05/10/2024 19:43:41 EDT I 9.15 1 ARCA
05/10/2024 19:37:43 EDT I 9.08 49 ARCA
05/10/2024 19:37:43 EDT I 9.04 1 ARCA
05/10/2024 19:37:43 EDT I 8.99 1 CBOE BZX
05/10/2024 19:36:12 EDT I 8.76 26 ARCA
05/10/2024 19:29:28 EDT T 9.25 100 NDD
05/10/2024 19:28:32 EDT I 9.09 98 ARCA
05/10/2024 19:28:32 EDT I 9.09 1 ARCA
05/10/2024 19:28:32 EDT I 9.04 1 ARCA
05/10/2024 19:28:32 EDT I 8.99 1 CBOE BZX
05/10/2024 19:28:32 EDT I 8.99 1 CBOE BZX
05/10/2024 19:26:56 EDT I 8.75 26 NDD
05/10/2024 19:26:26 EDT T 8.75 100 ARCA
05/10/2024 19:26:17 EDT T 9.17 100 ARCA
05/10/2024 19:25:39 EDT I 9.21 16 ARCA
05/10/2024 19:25:39 EDT I 9.10 30 ARCA
05/10/2024 19:25:39 EDT I 9.09 53 ARCA
05/10/2024 19:25:39 EDT I 9.05 1 ARCA
05/10/2024 19:25:39 EDT I 8.99 1
CNBC SHOWS AFTER HOURS PPS OF $9.25 up another .58 after the regular hours gain of .53! Hopefully this current momentum will carry through upwards and onwards!
ALL THE BEST TO ALL LONGS HERE …..
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Moderators Preciouslife1 4OurRetirement |
Avid Bioservices, Inc. (Nasdaq “CDMO”), Tustin CA. http://www.avidbio.com
President/CEO: Nicholas Green (eff. 7-30-20 https://tinyurl.com/yczapcc7 )
Four Avid Fact Sheets a/o 2-2020: https://avidbio.com/resources/fact-sheets/
Avid Bioservices is a CDMO committed to improving the lives of patients by manufacturing products derived from mammalian cell culture for the biotechnology & biopharmaceutical industries. Services include cGMP clinical & commercial product manufacturing, purification, bulk packaging, stability testing & regulatory strategy, submission, and support. The company also provides a variety of process development activities, including cell line development & optimization, cell culture & feed optimization, analytical methods development, and product characterization.
12-2019/Video: Tour of Myford Facility (2mins.): https://vimeo.com/380135562
7-2020: AVID’s Push Towards cv19 (I don’t capitalize things I hate) contracts: https://tinyurl.com/y8wzgneh
UPCOMING EVENTS: https://avidbio.com/events/
Sep1(Tue): Q1/FY21 (qe 7-31-20) Financials & Conf. Call - Transcript: https://tinyurl.com/y329llow
Sep17/Fireside Chat w/Nick Green: 18th Annual Morgan Stanley Global Healthcare Conf.: https://tinyurl.com/y4cbjjrc
Sep21-24/Virtual: Biotech Week Conf., Boston
Sep21-24/Virtual: BioProcess Intl. US Wes Conf., Santa Clara CA
...Time TBD: Presentation by Haiou Yang, PhD "Facility-Fit Driven Dev. for a mAb Production Process"
Oct20 10amPT/VIRTUAL: Annual Shareholders Mtg. https://tinyurl.com/y28blkjn 14A Proxy: https://tinyurl.com/y46ga9el
...ASM Replay (9:45): https://www.virtualshareholdermeeting.com/CDMO2020 (Control# not needed)
Apr20-22 2021/Booth#1159: INTERPHEX, NYC
Dec2(Wed) after mkt: Q2/FY21 (qe 10-31-20) Financials & Conf. Call - Transcript: https://tinyurl.com/y66xk888
Dec14-17: Antibody Engineering & Therapeutics Conf., San Diego
Quotes: Yahoo: Yahoo.com/CDMO Nasdaq: http://www.nasdaq.com/symbol/cdmo RT: http://www.nasdaq.com/symbol/cdmo/real-time
• IR: Stephanie Diaz (Investors) Vida Strategic Partners 415-675-7401 sdiaz@vidasp.com, Tim Brons (Media) 415-675-7402 tbrons@vidasp.com
SEC:
Latest 10Q 10-31-20 iss. 12-2-20 https://tinyurl.com/y3ournzr (Cash 10-31-20=$35.7mm)
Latest 10K 4-30-20 iss. 6-30-20 https://tinyurl.com/yak25nco (Cash 4-30-20=$36.3mm)
Latest DEF14A/Proxy iss. 8-27-20 (re: 10-20-20 ASM): https://tinyurl.com/y46ga9el
ALL SEC filings for CDMO: https://tinyurl.com/yc4zjyzv
CDMO's Corp. Bylaws (a/o 11-14-14): http://tinyurl.com/y8hsppea
Poison Pill adopted 3-16-06 for 10yrs: http://tinyurl.com/yvypvh 44-pg SEC filing: http://tinyurl.com/5m57ut BUNGLER explains in plain language: http://tinyurl.com/mft4nd6
...3-17-16 Poison Pill extended until 3-16-2021 https://tinyurl.com/y74glo2n (Form8A Amendment #1)
...Poison Pill TERMINATED eff. 9-23-2019 https://tinyurl.com/y2mzx3xo
SHARES:
Shares O/S as of 11-23-20=56,726,334 - history since 4-2006: https://tinyurl.com/y66xk888 (at bottom)
...A/O 10-31-20: 3,451,000 stock options outstanding at a wgt.avg. exercise price of $6.41 (pg.16 10Q).
...MarketWatch.com for CDMO (shows Float): https://www.marketwatch.com/investing/stock/cdmo
1-12-18: S-3 Shelf Registration filed for up to $125mm https://tinyurl.com/y9qtewpw
...12-14-20: Avid raises ~$34M gross, selling 3,833,335@9.00/sh. (underwriter: RBC Capital) https://tinyurl.com/y92yr9g4
...2-20-18: Avid Raises ~$21.8M net, selling 10,294,445@$2.25 (underwriter: Wells Fargo) 8-K: https://tinyurl.com/ya3nenth 424B5: https://tinyurl.com/ycpshgxl
Total INST.+LARGE Holdings now 41,617,965 73.5% a/o 9-30-20 https://tinyurl.com/y652nxpr
13 LARGEST SHAREHOLDERS a/o 9-30-20:
1. Eastern Capital (Kenneth Dart): 4,300,992 7.6% (a/o 8-21-19 14A/Proxy: https://tinyurl.com/y9c972fa – orig. 13G filed 11-2015)
2. Tappan Street (Prasad Phatak): 4,285,000 7.6% (a/o 12-31-19 13G: https://tinyurl.com/wlcwnnv )
3. Blackrock Inc. (Larry Fink): 3,834,816 6.8% (-111,172 a/o 9-30-20 Nasdaq Inst.)
4. IsZo Capital Mgt. (Brian Sheehy): 3,459,888 6.1% (-88,144 a/o 9-30-20 Nasdaq Inst.)
5. Millennium Mgt. 2,678,984 4.7% (+633,918 a/o 9-30-20 Nasdaq Inst.)
6. Vanguard Group 2,659,738 4.7% (-19,553 q/e 9-30-20 Nasdaq Inst.)
7. Snyder Capital 2,302,621 4.1% (-2,258 a/o 9-30-20 Nasdaq Inst.)
8. Altravue Capital 1,973,349 3.5% (+39,534 a/o 9-30-20 Nasdaq Inst.)
9. Wellington Mgt. 1,503,162 2.7% (+236,947 a/o 9-30-20 Nasdaq Inst.)
10. Sargent Invest. Grp. 1,052,099 1.9% (-11,000 a/o 9-30-20 Nasdaq Inst.)
11. State Street 992,280 1.8% (-65,922 a/o 9-30-20 Nasdaq Inst.)
12. Portolan Capital 963,374 1.7% (+528,662 a/o 9-30-20 Nasdaq Inst.)
13. Silvercrest Asset Mgt. 878,805 1.6% (-16,746 a/o 9-30-20 Nasdaq Inst.)
Inst. Holdings (Nasdaq) - updated 45-days after each qtr-end: http://www.nasdaq.com/symbol/cdmo/institutional-holdings
INSIDER-Trans: https://tinyurl.com/ycpw4j9z (formerly PPHM thru 2017: http://tinyurl.com/ypkow8 )
Short Interest, updated twice a month: https://www.nasdaq.com/symbol/cdmo/short-interest
A-T-M (At-The-Market) Sales 3/2009 - 7/14/17 ($272,500,000gr./34,869,747sh=$7.81/sh): http://tinyurl.com/yagmu2on
PPHM shares were 1:7 Reverse Split eff. 7-10-17 (315mm/$.606=>45mm/$4.24) http://tinyurl.com/yymtzcm9
PPHM shares were 1:5 Reverse Split eff. 10-19-09 (~237mm/$.64=>~47.4mm/$3.20) http://tinyurl.com/ykuw588
Potential Value: 9-19-2017: Catalent acquires CDMO Cook Pharmica for $950M ($179Msales x 5.3; EV/EBITDA=17.3) http://tinyurl.com/yd46m8py
AVID TEAM: https://avidbio.com/leadership/ - Open Jobs: https://avidbio.applicantpro.com/jobs
7-30-20: Nicholas Green (ex-Therapure Biopharma) becomes President/CEO of Avid - 6-25-20 PR: https://tinyurl.com/yczapcc7
4-13-20: Avid Hires 2 Senior Directors of Bus. Dev: Jason C. Brady & Sylvia Hinds https://tinyurl.com/sq2679g
1-8-20: Avid Appoints Timothy Compton as Chief Commercial Officer (repl. Tracy Kinjerski) https://tinyurl.com/ydww58sn
7-26-19: Catherine Mackey, PhD (ex Pfizer VP) joins Avid's BOD, replacing Joel McComb https://tinyurl.com/y3xhqmvm
5-8-19: Richard (Rick) B. Hancock named Interim President/CEO; Roger Lias resigns https://tinyurl.com/y4pqdwyc
7-16-18: Daniel Hart (ex-ENO Holdings) joins Avid as CFO https://tinyurl.com/ychz45p2
7-16-18: Michael Faughnan (ex-Lonza/WuXi Biologics) joins Avid as Sr.Dir./BusDev/WestC https://tinyurl.com/yaozdggz (Left 5-2019)
5-29-18: Sandra C. Carbonneau (ex-Lonza) joins Avid as Dir./BusDev./EastCoast https://tinyurl.com/ybvrwn2l (left 12-2019)
5-8-18: Magnus Schroeder (ex-AGC Biologics) joins Avid as VP/Process Sciences https://tinyurl.com/y7tpswaw
2-23-18: CFO Paul Lytle voluntarily resigns eff. 5-24-18 (2-23-18 +90days), "CFO search underway" https://tinyurl.com/ybnjzbv6
9-11-17: Roger J. Lias (ex-Allergan) to become Avid’s CEO and join PPHM’s BOD eff. 9-25-17 https://tinyurl.com/yddufw4s (left 5-8-19)
11-29-17: Tracy L. Kinjerski joins Avid as VP/Bus.Operations https://tinyurl.com/yc4zenkc (Left 1-8-2020)
Profiles of all 7 BOD members: http://ir.avidbio.com/corporate-governance/board-of-directors
...Joseph Carleone/Chair, Nicholas Green(CEO), Richard Hancock, Gregory Sargen, Mark Bamforth, Patrick Walsh, Catherine Mackey
10-24-17: Peregrine Adds Patrick D. Walsh to BOD, "An Industry Veteran with 30+yrs Experience Leading Successful CDMO Org’s” http://tinyurl.com/y3jo2rv7
10-19-17: Peregrine Adds Mark R. Bamforth to BOD, "10yrs/Genzyme; 30yrs of biologics leadership experience, incl. founding 2 CDMOs" http://tinyurl.com/y6ydcaof
ANALYST COVERAGE: http://ir.avidbio.com/analyst-coverage
Also see: https://www.marketbeat.com/stocks/NASDAQ/CDMO/price-target
Janney Montgomery Scott - Paul Knight PT=$10
H.C. Wainwright & Co. - Joseph Pantginis PT=$9
Craig-Hallum Capital Group - Matt G. Hewitt PT=$10
First Analysis Securities - Joseph Munda PT=$7.50
Stephens Inc. - Jacob Johnson PT=11 (10=>11 9-2-20)
FINANCIALS & BUSINESS DEV.:
2-3-21: Avid to Mfg. CV19 Therapeutic Lenzilumab for Humanigen https://tinyurl.com/1hzzksxa
8-26-20: Mapp Biopharmaceutical signs w/Avid for ClinDev of Antiviral Antibody (MBP091) https://tinyurl.com/yxwvr949 BARDA #HHSO100201900018C($16.5M+Opt/$30M), see: https://tinyurl.com/yye8t5nx
8-20-20: Oragenics signs Dev/Mfg Agreement with Avid for COVID-19 Vaccine “TerraCoV2” https://tinyurl.com/yxqg3w4v
8-6-20: Iovance Biotherapeutics signs w/Avid(+Aragen) to Dev+Mfg. IOV-3001 (IL-2 Analog) https://tinyurl.com/y2lgzh6x
7-28-20: Avid Teams with Argonaut to add “Parenteral Fill-Finish Services” https://tinyurl.com/y2lgzh6x
5-6-20: Avid Teams with Aragen to speed up drug dev./delivery timelines https://tinyurl.com/ycuu2m5r
4-23-20: Avid receives $4.4M PPP/CV19 Loan (can apply for forgiveness) 8K: https://tinyurl.com/yaltupxa
...5-12-20: Avid Pays Back $4.4M PPP/CV19 Loan (“New SBA Guidance/abundance of caution”) 8K: https://tinyurl.com/y993tkk6
3-10-20: CDMO's Revs & Burns By Qtr Table, FY07/Q1 thru FY20/Q3 (q/e 1-31-20): https://tinyurl.com/s9cmzmf
......Avid FY20 (fye 4-30-20) revenues guidance: $55-59M; committed backlog=$58mm at 1-31-2020.
7-8-19: Avid Signs New Top10 Global Pharma and Expands Existing Cust. Relationship https://tinyurl.com/yyq8zgb9
6-27-19: "The 5 new clients signed in late FY2018 contributed significantly to revenue diversification in FY2019." SEE CUST SPLITS for FY19: http://tinyurl.com/y5j4dlsv
4-24-18: ”In recent weeks, Avid has signed new agreements with 3 addl. undisclosed intl. drug dev. companies (that’s 4 thus far in CY2018)” https://tinyurl.com/y89whc8d
3-1-18: Acumen Pharm. selects Avid for Process Dev. & Mfg. of ACU193 (Alzheimer’s) https://tinyurl.com/y8jvwleq http://www.acumenpharm.com
2-21-18: Enzyvant selects Avid to commercially mfg. RVT-801 (Farber disease) https://tinyurl.com/yd5xhcx8 http://www.enzyvant.com
2-12-18: Peregrine’s Legacy PS-Targeting IP Sold to ONCOLOGIE INC. (Boston, CEO: Laura E. Benjamin) for $8M/upfront, $95M/milestones https://tinyurl.com/yam8gb3h
...NOTE: 2-13-18: Oncologie Licenses Mologen’s immunotherapeutic ‘lefitolimod’ (TLR9 agonist) https://tinyurl.com/y9z54f4x “ONCOLOGIE is backed by top-tier intl. investors and has the objective to dev. novel personalized medicines in the field of immuno-oncology."
2-28-17: Avid & Cook (acq. by Catalent 12-2017 for $950M; $179Msales x 5.3; EV/EBITDA=17.3) remain Halozyme's 2 CMO's (“working to scale-up/validate/qualify Avid II/Myford for Roche collab.”): http://tinyurl.com/h75teta
FACILITIES: https://avidbio.com/facilities/
10-8-19: Avid Announces Completion of Expansion of Process Dev. Capabilities & Labs https://tinyurl.com/y3hfwst9
...will “significantly accelerate Avid’s ability to drive efficient & rapid on-boarding of new cust. pgms progressing to mfg.”
4-24-18: Avid adding Process Dev. Labs, upgrading capabilities (in phases; total will be >6000sq; 1st one ready Q3CY18/Jul-Sep'18) https://tinyurl.com/y89whc8d
5-2017: Avid II (Myford) adds 2 MilliporeSigma Mobius 2,000L single-use bioreactors; total mfg. capacity now ">11,000L". http://tinyurl.com/ky7bmu4
5-10-17: Halozyme comments on Avid II(Myford) expansion in their 3-31-17/10Q pub. 5-9-17: http://tinyurl.com/mrl34uk
..."validation of the new facility is scheduled to end in Q2/2017… Once this new facility is approved, it will become the primary source for Roche of bulk rHuPH20.”
6-2-16: Corp.Update – Avid Expansion & Drug Development - http://tinyurl.com/zvmhqmr
3-7-16/Avid II: Formal Commissioning of Avid's New 40,000sq "Myford" Facility, “single-use/fully disposable” (potentially $40M addl revs) http://tinyurl.com/y5jmfpo3
12-10-15/Avid II: Avid Expansion into MYFORD Facility now GMP-run ready (potential +$40mm sales) - contemplating further expansion http://tinyurl.com/y539yut4
12-10-14: Avid to Double Mfg. Capacity(“Myford Expansion”) http://tinyurl.com/y2sqoy2u & http://tinyurl.com/kmdgq8t
PRESENTATIONS & ARTICLES: https://avidbio.com/events/
Sep17/Fireside Chat w/Nick Green: 18th Annual Morgan Stanley Global Healthcare Conf.: https://tinyurl.com/y4cbjjrc
5-18-20: Avid Listed In Top CMO Awards Article https://tinyurl.com/yb5cnh6m
...”Avid received 5 CMO Leadership Awards categories, incl. 2 Champion designations: Expertise & Service.”
10-25-18/BioPharma: Roger Lias Interview, “Avid expansion to Triple Process Dev. Capacity” https://tinyurl.com/ybtuk29m
Sept2018/BioTechWEEK: Tracy Kinjerski (VP/BusOP) interview: Avid’s differentiators (6mins.) https://www.youtube.com/watch?v=x3tzo4pZivk
1-29-18: NobleCon14 - 14th Annual Inv. Conf., Ft.Laud. => Roger Lias' webcast/slideshow https://tinyurl.com/yanwk9yo
11-15-17/Outsourcing-Pharma: “How This R&D Company (Peregrine) is Transitioning to a Pure-Play CDMO: ‘Opportunities Are Almost Endless’" - Recap of interviews with Steve King & Avid Pres. Roger Lias http://tinyurl.com/y7dv9faz
CONFERENCE CALLS & ASM's:
12-2-20: Qtly. Conf. Call (Green/Hart/Compton) PR & Transcript https://tinyurl.com/y66xk888
10-20-20 Annual Shareholders Meeting - Replay (9:45): https://www.virtualshareholdermeeting.com/CDMO2020 (Control# not needed)
9-1-20: Qtly. Conf. Call (Green/Hart/Compton) PR & Transcript https://tinyurl.com/y329llow
...CEO N.Green: ”My first few weeks have done nothing but confirm my view that I believe Avid to be a strong and state-of-the-art company with significant opportunity for growth."
6-30-20: Qtly. Conf. Call (Hancock/Hart/Compton) PR & Transcript https://tinyurl.com/y9zbgmos
...RickH: "Based on our customers' growing demand and our expanding business development activity, we believe that we will significantly increase capacity utilization in 2021 and beyond. Accordingly, we have entered into a new phase of planning for the expansion that will support our growing business in the years to come.”
...”Top10 Pharma customer added 7-2019 named in 10-K: GILEAD SCIENCES.”
3-10-20: Qtly. Conf. Call (Hancock/Hart/Compton) PR & Transcript https://tinyurl.com/s9cmzmf
12-9-19: Qtly. Conf. Call (Hancock/Hart/Kinjerski) PR & Transcript https://tinyurl.com/tfewuzc
9-5-19: Qtly. Conf. Call (Hancock/Hart/Kinjerski) PR & Transcript https://tinyurl.com/y6t8zfur
6-27-19: Qtly. Conf. Call (Hancock/Hart/Kinjerski) PR & Transcript https://tinyurl.com/y6zdjyu2
...Rick Hancock, "Most importantly, during Q4, the Company achieved positive income, generating cash from dev. & mfg. operations for the 1st time since the beginning of the CDMO transition (Jan'18)."
3-11-19: Qtly. Conf. Call (Lias/Hart) PR & Transcript http://tinyurl.com/yy6dvjvc
12-3-18: Qtly. Conf. Call (Lias/Hart//Kinjerski) PR & Transcript https://tinyurl.com/y9n374kp
10-4-18: ASM/2018 (@Myford Facility) - Roger Lias’ Slideshow & Attendee Report https://tinyurl.com/yctfzhlb
9-10-18: Qtly. Conf. Call (Lias/Hart) PR & Transcript https://tinyurl.com/y8oc6hx8
...Roger Lias, "During the qtr, we advanced the projects of our existing active clients and continue to engage with numerous potential new customers."
7-16-18: Qtly. Conf. Call (Lias/Kinjerski) PR & Transcript https://tinyurl.com/yaozdggz
...Roger Lias, “In a short period, we’ve established a targeted business dev. operation that is actively providing visibility for Avid Bioservices within our fast growing but competitive marketplace.”
3-12-18: Qtly. Conf. Call (Lias/Kinjerski/Lytle) PR & Transcript https://tinyurl.com/yakdl4wj
...Roger Lias, ”I'm pleased to be able to report that in a very short period of time we've generated significant interest from both emerging & growth biopharmaceutical players and from pharmaceutical multinationals. I'm confident that the plan we're executing will drive a considerable increase in backlog and the opportunity to further enhance capacity utilization in the future.”
......From the 3-12-18 PR: “At present, we are in late-stage negotiations with several potential new customers and expect to announce the executed agreements before the end of the FY[4-30-18].”
1-18-18: ASM/2017 (@Myford Facility) - Roger Lias’ Slideshow & Attendee Reports https://tinyurl.com/yca6enbr 12-7-17 PROXY/14A: https://tinyurl.com/y7qprpg9
12-11-17: Qtly. Conf. Call (Lias/Lytle) Transcript https://tinyurl.com/ybycb2s6
...Roger Lias, "the company is undergoing a broad-scale transformation, the goals of which are to shift complete focus to the Avid Bioservices CDMO business and the complete divestiture of all of Peregrine's legacy R&D assets, which include bavituximab."
9-11-17: Qtly. Conf. Call (King/Lias/Lytle) Transcript http://tinyurl.com/y9y8qdac
...Steve King: “For this reason, we have concluded that in order to best position Peregrine’s R&D assets for successful development, they should be advanced by a partner with the appropriate expertise and ample resources to invest in the necessary clinical trials. To that end, we have been working diligently towards the transformation of the overall business to becoming a pure-play CDMO, while assessing the best strategic options for the R&D assets that would allow stockholders to directly see the future value from their continued developments. By partnering & eliminating future R&D expenditures, we believe we are best positioning Avid for future growth. Through reinvestment & expansion, we believe we will attract new customers and extend current contracts that will help position Avid as a leading U.S. CDMO. We are moving forward expeditiously with strategic discussions as we recognize the need to move quickly both from the R&D & CDMO standpoints. We hope to bring this process to completion over the coming months and will update you on our progress.”
7-14-17: Qtly. Conf. Call (King/Shan/Lytle) Transcript http://tinyurl.com/yb4wulvu
...Steve King: “We are seriously considering the possibility of separating our 2 distinct businesses, Avid and R&D/PS-Targeting.”
3-13-17: Qtly. Conf. Call (King/Shan/Worsley/Lytle) Transcript http://tinyurl.com/grhwjvy
...Steve King: “We believe the recent improvement of stock price is a growing recognition of the value of Avid, and having the full value of the Avid business reflected in our stock price is a top priority.”
12-12-16: Qtly. Conf. Call (King/Shan/Hutchins/Lytle) Transcript http://tinyurl.com/hhn4gga
...Steve King: “Our goal is to bring the overall company to profitability within the next 18mos. We believe just the value of Avid Bioservices is far greater than our current market cap and is only growing in value."
10-13-16 ASM/2016: ATTENDEE Reports & Link to CEO Steve King's 35min/45slide webcast: http://tinyurl.com/jx7ouay
Feb. 2018: Peregrine Pharmaceuticals completed its Mid’17-Early’18 Transition to a Pure-Play CDMO
(Contract Development & Manufacturing Organization), Avid Bioservices, Inc. - CEO: Roger Lias.
**FULL PPHM=>CDMO Transition History (Ronin/SWIM): https://tinyurl.com/ybqvzwhg
1-8-17: Peregrine chgs. name to “Avid Bioservices, Inc.”; new ticker: “CDMO” (+CDMOP) https://tinyurl.com/y8vhjow4
2-12-18: Peregrine’s Legacy PS-Targeting IP Sold to ONCOLOGIE INC. (Boston, CEO: Laura E. Benjamin) for $8M/upfront, $95M/milestones https://tinyurl.com/yam8gb3h
...12-13-18/8-K: Overview of Oncologie sale: https://tinyurl.com/yab9c6cr
NOTE: “PS-targeting Exosome tech. not included; back to UTSW", see: https://tinyurl.com/yakdl4wj
Click here for an ARCHIVE of the History of Peregrine’s Anti-PS/Bavituximab Platform - MOA, Trials, and Activity over the years, from early 2000’s thru 2017, prior to being Sold to ONCOLOGIE:
https://tinyurl.com/y8pq4rhc
Of Interest (post Oncologie Sale):
Oncologie's website: https://oncologie.com/true-home-v2/ NEWS: https://oncologie.com/newsroom/
4-20-18/AACR’18: MSKCC(LudwigCC) Tweets about 2 WolchokLAB/”PPHM” Anti-PS Posters https://tinyurl.com/ycgjhvqa
4-26-18: New Bavi+Keytruda/LIVER Ph2 IST Trial, Sponsor=UTSW, Collab=MERCK https://tinyurl.com/y7fd9vdb
6-7-18: Oncologie Obtains $16.5M Seed Funding Led by Pivotal bioVenture Partners China Fund https://tinyurl.com/ybrrbgg7
6-7-18/BioCentury: Laura Benjamin states, “Oncologie plans to begin a trial mid-summer '18 evaluating Bavi to treat HCC and a P-O-C trial in Gastric cancer in 1Q19/2Q19.” https://tinyurl.com/ycb8r7sm
12-3-18: During q/e 10-31-18, Avid sold remaining legacy R&D asset, r84(anti-VEGF), to Oncologie for $1.0M upfront. Avid is eligible to receive up to an addl. $21M in dev/reg./comm. milestones, and low to mid-single digit royalties on net sales upon commercialization of products utilizing r84 https://tinyurl.com/y9n374kp
11-4-19/PharmaBoardroom: Interview with Oncologie CEO Laura Benjamin discussing the 2 ongoing Bavi Trials w/Keytruda (USA UK Taiwan S.Korea) https://tinyurl.com/ydf6zhsv
...Dr. Benjamin, "We have high expectations of bavituximab and have obtained the global rights for this compound."
...Ongoing Trial #1 (N=80): Open Label, Bavi+Keytruda Adv. Gastric/GEJ Cancer https://clinicaltrials.gov/ct2/show/NCT04099641
......1-17-2020 ASCO/GI Poster: https://oncologie.com/wp-content/uploads/2020/01/2020-01-17-ASGO-GI-poster-final-draft.pdf
...Ongoing Trial #2 (N=34 UTSW): Open Label, Bavi+Keytruda Adv. Hepatocellular Carcinoma https://clinicaltrials.gov/ct2/show/NCT03519997
6-11-20/Fiercebiotech: Oncologie Reels In $80M To Push Clinical Pgms/Build Pipeline https://tinyurl.com/yany8f34 & https://tinyurl.com/y8p9artk
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