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I hope they explain how they earned that amazing committed badge on the CC. That is simply a astonishing accomplishment. Kudos to all!
Since we are near the yellow line and the black dots does that mean we have between 15,000 years and 1.6 million years to make a profit?
I'm pretty sure we can fill capacity in that time frame
Yes, always interesting.....but its all about filling up their excess capacity, because if they do not start making progress here, the earthquake fault line will be the least of their potential problems.
I would really like to see an activist investor come in and shake things up as we are totally under achieving!!!
Just because...fault line map near Tustin... https://usgs.maps.arcgis.com/apps/webappviewer/index.html?id=5a6038b3a1684561a9b0aadf88412fcf ...type Tustin Ca in search box...r
Do yourself a favor and run as far and as fast as you can... this a morally bankrupt company,
Who owns this and why?
What killed it? Looks like this might be the start of a home run-- many shares bought off this trend/bottom.
HALO up 4.16. This patent is for the EU and they expect US approval as well. I don’t know the timeline for that.
How much of 78M Enhanze do we get? Since Cook is out.
When you look at HALO's 2023 10-k they show $115 mil in sales of bulk rHuPH20 product with the qualifier of "We expect product sales of bulk rHuPH20 and device partnered products to fluctuate in future periods based on the needs of our partners."...allow say a 25% markup and work backwards to what the market segment consist of if CDMO becomes a larger partner in the manufacture of the product....imao...r
And this... "A magnitude 2.6 earthquake struck Newport Beach on Wednesday afternoon, resulting in weak shaking in Orange County.
The epicenter of the quake, just southeast of Costa Mesa, was underneath Mariners Park. Weak shaking was felt in Irvine, Santa Ana, Huntington Beach, Garden Grove, Tustin, and Fountain Valley, according to people who reported the shaking to the U.S. Geological Survey's Did You Feel It? website."...r
Will this new HALO patent affect CDMO.? HALO up 1.35 yesterday and another 1.10 premarket.
HALOZYME ANNOUNCES ISSUANCE OF NEW EUROPEAN PATENT FOR ENHANZE® DRUG DELIVERY PLATFORM
PR Newswire
Conference Call Scheduled for Thursday, June 6 at 5:30am PT / 8:30am ET
SAN DIEGO , June 5, 2024 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme") today announced the grant of European Patent No. 4269578, covering the ENHANZE® rHuPH20 product obtained from Halozyme's ENHANZE® manufacturing methods that the Company provides to its current and future licensees. The new patent is licensed under all of Halozyme's ENHANZE® licenses. It will be validated in 37 European countries and expires on March 6, 2029 .
"This new European patent for ENHANZE further strengthens our robust patent estate and extends the durability of our portfolio," said Dr. Helen Torley , president and chief executive officer of Halozyme. "We are pleased to be able to maintain the original royalty rate for DARZALEX SC in Europe through March 2029 based on this new patent."
Under the terms of Halozyme's ENHANZE® license with Janssen, the newly granted patent prevents the reduction in the royalty rate on sales of DARZALEX® SC in the European countries where it is validated until the patent expires. The new patent is not expected to have any impact to royalties under other ENHANZE® licenses with an issued or pending collaboration patent, as current royalty rates for these licenses are already expected to extend beyond expiration of the new patent.
Webcast and Conference Call
Halozyme will discuss the new European patent and provide an update to its 2024 financial guidance and 5-year financial outlook on a conference call tomorrow, Thursday, June 6 at 5:30am PT / 8:30am ET . The call will be webcast live through the "Investors" section of Halozyme's corporate website and a recording will be made available following the completion of the call. To access the webcast and presentation, please visit ir.halozyme.com.
The call may also be accessed with the dial-in information below:
Participant Toll-Free Number: 888-632-3384
Participant Direct/International Number: 785-424-1794
Conference ID: HALO0624
About Halozyme
Halozyme is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE® drug delivery technology with the proprietary enzyme rHuPH20, Halozyme's commercially-validated solution is used to facilitate the subcutaneous delivery of injected drugs and fluids, with the goal of reducing treatment burden for patients. Having touched more than 800,000 patient lives in post-marketing use in seven commercialized products across more than 100 global markets, Halozyme has licensed its ENHANZE® technology to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol-Myers Squibb, argenx, ViiV Healthcare, Chugai Pharmaceutical and Acumen Pharmaceuticals.
Halozyme also develops, manufactures and commercializes, for itself or with partners, drug-device combination products using its advanced auto-injector technologies that are designed to provide commercial or functional advantages such as improved convenience, reliability and tolerability, and enhanced patient comfort and adherence. The Company has two commercial proprietary products, Hylenex® and XYOSTED®, partnered commercial products and ongoing product development programs with several pharmaceutical companies including Teva Pharmaceuticals and Idorsia Pharmaceuticals.
Halozyme is headquartered in San Diego, CA and has offices in Ewing, NJ and Minnetonka, MN. Minnetonka is also the site of its operations facility.
For more information visit www.halozyme.com and connect with us on LinkedIn and Twitter .
So no bumps. Since I don't think we did the Russell as April 30.
The good thing is. Interest rates will go dowm and small caps rise.
CDMOs are in demand, expect HALO to raise the hand and the bar once an offer sheet occurs.
Institutional purchasing of shares, versus not! There is usually a PPS bump up once a company is included into one of the Russell indexes.
It looks like the a takeover would be more in the 12 than 15...
Copy and paste the question in google for eternity...r
What's the effect not being on the list or being on the list?
"Starting the following Friday, FTSE Russell releases updated but still preliminary index membership lists. Those updates are made on May 31, June 7, June 14 and June 21, all typically after 6 p.m. Finalization is June 28.
Meanwhile, on Monday, June 10, the reconstitution lock-down period begins. From that point, the rebalanced membership lists are considered final, pending any additional updates during the remainder of June."...r
low volume working in our favor today keep that up !
Michael
As I've said before, no one loans $125M at 1.5% without having a sure shot at making money on the conversion. (Granted, they likely received the funds from the covered call) No one builds out substantial capacity without having the business lined up. I believe those statements with regards to Avid are valid. Then the timeline of needing the capacity changes and the PPS doesn't go up because the revenue isn't what was expected. Investor finds a way out, shorts the stock down, drops the default bomb, and relends more money at a market rate with better conversion terms. Nothin in the business model has changed. So if the lender thought there was a good chance to make money on the conversion which had to be over $28 per share, what now has changed that end result?
FFTT
JBAIN
No need for accountability! The gravy train for Nic and crew is working out just fine! They have zero alignment with shareholders, line your pockets , reset options and eventually sell for 15
I'm sure the convertible note debacle revealed on March 6th had nothing to with peaking the interest of the underbelly of the arbitrage community.
https://www.nasdaq.com/market-activity/stocks/cdmo/short-interest
Taking responsibility and suffering consequences for all involved. Still waiting...
It is def a sad case the way that a few shorts keep playing the game with no consequences.
what else is new in this new world.
MM’s are getting rich. Drive the shares up, then back down, and make their money going in both directions. No company fundamentals or guidance to refute any current price or value.
Yup, we are once again approaching the mid $7's in the share price.....we were starting to look at the $10's...then we couldn't hold the $9's...then we couldn't hold the $8's.......hmmm.
Could it be that Nick again disappoints?
Must be a huge line at our booth at Bio 2024. So many people want to place their projects with Avid. Glad we had a booth. Gives the salespeople something to do.
That's a California thing. A company has to do all the things you mentioned or they will get thrown out of town(cancelled) Wouldn't worry about that.
They make a lot of noise on Linkedin for every convention they go to. Talking from 40 years of sales experience, conventions are worthless unless you already have customers and you can wine and dine them there. Booths are totally worthless for gaining new business!! Real decision makers do visit booths at conventions.
I was hoping we would see an uptick in posted jobs to indicate more business coming in but not. If you looking they posted for another sales rep. oh sorry Sr. Director of Business Development. Which is not a good sign.
Bottom line is we've built a Ferrari and we only have E85 gas to put in it.
So what is Avid up to?? Well they seem to be very evironment and people friendly winning eco awards and proclaiming that they support Pride week and the power of diversity, inclusion and love and affirm again that they stand with the LGBTQ+ community....lots more on Linked In.
They also are making a lot of noise about their booth at the Bio 2024 Convention taking place June 3-6 in San Diego.
This is all great and what responsible companies should be doing, but it would also be great if they start lining up contracts and start filling their capacity because the two need to work together to be sustainable!
Meanwhile another talent has left the company after 1 year and 9 months....Atefeh Alizadehbirjandi is moving on after what appears to be a great time at Avid. She was the Associate Director of Operations involved in client relations and contract negotiations along with her scientific credentials. She seemed to have enjoyed her time at Avid and was wished well by current Avid management.
Not sure what these relatively short stays say about Avid or the talent they attract, and employees leave for all kinds of reasons but if the company was really firing on all cylinders, you would think that employees in management would want to stick around for the coming payoff of higher share prices in the near future? Maybe not???
Meanwhile Avid is advertising 15 job openings world wide on Linked In.
In the end, the above is sort of useless information of what is happening at Avid, as the only thing that is going to move the share price is filling capacity to achieve free cash flow and profits!!!! When will this happen!!!
Wow. Thank you for leading me to that.
I suggest you read the Laughing Water article link appearing in a djohn post dated 4/18/2024 to inform your “guess” if you have not already read the information specific to CDMO near the end of that article. There are collateral SEC filings by CDMO/Avid that help explain CDMO current share price.
Thank you for the reply. I agree (and I learned a few things). Do we know for sure that the new facility is not being adequately utilized yet? I thought they had a major backlog. I know that some of that backlog is timing with the FDA, but shouldn't they be able to immediately grow the revenues based on the backlog alone? I would also guess that they had commitments before they decided to build - otherwise, they would have screwed themselves.
I owned (and traded) PPHM in the mid '90's through the RS and new management coming on board - then sold and haven't kept up. I saw the recent rise and started watching again. My guess is that the stock had a really good run and it became very oversold. I would say that that had a lot to do with increased shorting. Even doubling down on short positions that failed. I would again, guess that coming into the next earnings (about 3 weeks away), some of the short positions will cover - enough to see $9's again. At least that is my rationale for buying right now.
I think shorting of a stock happens because hedge funds know they can manipulate the SP in a way they can make money. IMO this happens because of weak management. In Avid's case these funds think Avid is weak and can't achieve their revenue goal of $400 mil annually. This is mainly because the inability to sell the new capacity. This is because of a non-preforming sales and marketing team! Let's look at the numbers.
MK our CCO was hired Oct 2021
The FY2021 before MK's hire we had new business of $148mil
https://ir.avidbio.com/news-releases/news-release-details/avid-bioservices-reports-financial-results-fourth-quarter-and-0
After his hire he hired 4 new sales reps, 2 new marketing people and 1 new marketing conference person.
Now tree years later FY2024 so far new business is Q1 $36mill, Q2 $35mill, Q3 $41mil, Q4 ???(we'll find out in a few weeks) Total $112mill
So, we have to do $36mil in FY2024 Q4 just to match what we did 3 years ago. With 8 new people most have been working for Avid over a year and a half. What have they been doing????
From a sales prospective that's complete failure of the CCO and the sales team!!!
The thing about shorting is that they eventually need to buy back. I expect the short numbers to increase again in a few days. One MM seems to be doing the heavy lifting - could be the shorting or could be an institutional investor dumping. When it stops, I think we will see a nice rise in price. Then the shorters will need to cover. I felt good about the CC. I think they will beat estimates.
westjiter
Yep I cannot believe they would even consider the expansion without the business to fill on the books . What really gets me is where is the profit anyone can give business away I would rather run at full capacity and a bigger profit
Michael
Maybe because the short interest has almost doubled in the last 2 and a half months.
The hedgees are messing with us for some reason my friend!
Settle Date Short Interest
05/15/2024 11,862,647
04/30/2024 11,056,967
04/15/2024 10,322,378
03/28/2024 10,110,39
03/15/2024 10,842,004
02/29/2024 6,593,041
https://www.nasdaq.com/market-activity/stocks/cdmo/short-interest
Yes, I thought the $8's were gone also, but now it looks like the $7's are back in play.....hmmm! Until Nick gives some indication that they are making progress on filling capacity, why would you want to own this stock? At current revenues they are not able to make a profit....can they make a profit at $200 mil in revenues?? Not sure where their B/E point is......or when they will reach it especially now with the additional $10 mil in financing costs over their previous convertible financing.
Why is it that we go down 70 cents on 300,000 shares traded but only go up pennies on 160,000 ? Thought $8 were gone but looks like we are back !
Michael
Yup, pretty disgusting price action today....it seems there are not many takers of our stock inspite of our upcoming CC? At least the volume is on the light side!
For me this upcoming CC is the big one, for we should get guidance for the upcoming year which will probably determine if this becomes a longer term hold or will end up going to some lucky bidder for a below market price, much to the chagrin of shareholders and yes, to the benefit of managment and the Board! And here is a sobering thought.....with a disappointing CC, $15 is probably not even in the cards anymore as a take out price....
Nick needs to show the market that Avid is on the road to filling their capacity and with it bringing lots of free cash flow and profits. Anything less than a huge increase in Revenue projections for the year would be a major disappointment!
He doesn’t have to do a fly by. Management doing a good job of proving his point.
Almost time for little bear to do a fly-by.
Same game every day,
15,000shares down 30 cents.
Last year’s conference call was 6/21/23.
Either fill it fast or someone with the compounds who needs manufacturing capacity with buy it on the cheap.
I know you feel the $175 mil projection(that I mentioned in a previous post) for the coming year is too low, and while I don't disagree with, and still trying to be optimisitic, I fear that they may guide a somewhat lower number than this? And damn you know I hope I am wrong here!!
They have to give us some kind of timeline and a path that will take us from $150 mil to $400 mil plus in revenues!!! We are probably only a couple of weeks away from our next CC and with it an update on guidance! Will it be as good as we hope or as bad as we fear?🤞
If we get mediocre guidance, get ready to be taken out!
Wondering Aimlessly like our sales force.
After two presentations two weeks ago, must have been "nothing to see here presentations"
Looks like one of the 100% plus institutions are selling !!
Michael
I think this will be a good week.
Will it won't be as easy to screw around(manipulate) for the bigger traders trying to influence PPS on smaller stocks....like Avid! So I have to believe it is at least a small positive!?!
How Will T+1 & CAT(ConsolidatedAuditTrail) Impact PPS? Glta,eom.
It is truly shocking to me the crimes against shareholders these scumbags have pulled off over the last 20 plus years... King... Lytle etc and now Nic setting himself up for a huge payoff with no results. White collar criminals all of them
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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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