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Avid Bioservices Reports Financial Results for Fourth Quarter and Fiscal Year Ended April 30, 2024
July 2, 2024 at 4:05 PM EDT
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-- Recorded Fourth Quarter Revenue of $43.0 Million – Highest in Company History --
-- Signed $30 Million in Net New Business Resulting in Backlog of $193 Million --
-- New Mammalian and Cell and Gene Therapy Facilities Fully Operational and in Service; Capital Expenditure Associated with Three-Year Expansion Program Completed --
-- FY 2025 Revenue Guidance of Between $160 Million and $168 Million --
TUSTIN, Calif., July 02, 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 financial results for the fourth quarter and year ended April 30, 2024.
Highlights from the Quarter Ended April 30, 2024, and Other Events:
“The fourth quarter of fiscal 2024 was a high point for the company,” stated Nick Green, president and CEO of Avid Bioservices. “We generated the highest quarterly revenues in Avid’s history, meeting our current revenue expectations for the year. During the period we signed multiple new project agreements, and we continue to see positive signs for business development in the year ahead. Given our strong backlog and robust proposal pipeline we are looking ahead to a promising 2025, and are providing 2025 full fiscal year revenue guidance of between $160 million and $168 million, representing 17% growth year-over-year at the midpoint.
“Supporting our optimism, is the growing interest we’ve seen in our newly completed facilities and expanded capabilities. In late fiscal 2023, we unveiled our completed mammalian cell facilities expansion, and during fiscal 2024, the company completed and launched its new cell and gene therapy (CGT) manufacturing facility. With the completion of this three-year construction program, the company has dramatically expanded its capacity and technical capabilities and increased the company’s annual revenue generating capacity from approximately $120 million annually in fiscal 2021 to more than $400 million annually.
“The enhancements and expansion not only allow Avid to better serve its new and existing biotech customers but, importantly, enable the company to address the needs of large pharma as well. The expanded addressable market and improvements in the broader business environment have resulted in an increase in larger and later stage programs in our production pipeline. With respect to capacity, our utilization is expected to increase as we onboard and execute new programs in both our mammalian and CGT facilities. As we’ve discussed in prior quarters, this expected increase in utilization should improve our margins.
“We ended the year in a position of strength with positive revenue momentum building, particularly in the second half of fiscal 2024, continued new business wins and line of sight to margin expansion. We recorded our highest ever quarterly revenue of $43.0 million in Q4, logged our highest record backlog of $206 million in Q3 and ended fiscal 2024 with near double our gross margin in Q4 as compared to Q3 of the fiscal year. We expect the commercial momentum and margin improvements to continue in the year ahead given our strong backlog and anticipated increase in capacity utilization. Importantly, we expect to generate positive cash flow during fiscal 2025.”
Financial Highlights and Guidance
The company is providing revenue guidance for fiscal 2025 of $160 million to $168 million.
Revenues for the fourth quarter of fiscal 2024 were $43.0 million, representing an 8% increase as compared to revenues of $39.8 million recorded in the same prior year period. The increase in revenue for the fourth quarter as compared to the same prior year period was primarily due to increases in the mix and scale of manufacturing runs and process development services primarily associated with the onboarding of new programs. For the 2024 full fiscal year, revenues were $139.9 million, a decrease of approximately 6% compared to $149.3 million in the same prior year period. The decrease in revenues for the 2024 full fiscal year compared to the same prior year period was primarily attributed to fewer manufacturing runs, a reduction in process development services primarily from early-stage programs, and a reduction of revenue for changes in estimated variable consideration under a contract where uncertainties have been resolved.
As of April 30, 2024, the company’s backlog was $193 million, consistent with a backlog of $191 million at the end of the same quarter last year. The company anticipates a significant amount of its backlog will be recognized as revenue over the next five fiscal quarters.
Gross profit for the fourth quarter of fiscal 2024 was $5.5 million (13% gross margin), compared to $8.4 million (21% gross margin) in the fourth quarter of fiscal 2023. Gross profit for the 2024 full fiscal year was $7.3 million (or 5% gross margin), compared to a gross profit of $31.5 million (or 21% gross margin) for the 2023 full fiscal year. The decrease in gross profit for the fourth quarter and fiscal year ended April 30, 2024, compared to the same prior year periods was primarily driven by fewer manufacturing runs, partially offset by increases in the mix and scale of manufacturing runs, a reduction in process development services, and an increase in costs related to expansions of both the company’s capacity and technical capabilities. Gross profit during the fiscal year ended April 30, 2024, was also impacted by a reduction of revenue for changes in estimated variable consideration under a contract where uncertainties have been resolved, a terminated project relating to the insolvency of one of the company’s smaller customers, and a delay in the ability to recognize revenues of a customer product pending the implementation of a process change.
SG&A expenses for the fourth quarter of fiscal 2024 were $6.8 million, a decrease of 10% compared to $7.6 million recorded for the fourth quarter of fiscal 2023. SG&A expenses for the 2024 full fiscal year were $26.0 million, a decrease of approximately 7% compared to $27.9 million recorded in the same prior year period. The decrease in SG&A for both the fourth quarter and fiscal year ended April 30, 2024, compared to the same prior year periods was primarily due to decreases in compensation and benefit related expenses, facility expenses, and consulting fees.
Income tax expense for the fourth quarter of fiscal 2024 was $117.9 million an increase as compared to $0.9 million for the fourth quarter of fiscal 2023. Income tax expense for the 2024 full fiscal year was $113.8 million an increase as compared to $1.3 million for the same prior year period. During the fourth quarter of fiscal 2024 we recorded a valuation allowance of $118.5 million. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. On a periodic basis, management assesses the available positive and negative evidence to estimate whether sufficient future income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the net loss in fiscal 2024 resulting in a net cumulative loss incurred over the three-year fiscal period ended April 30, 2024. A significant contributor to this loss has been the costs associated with our strategy to expand our available capacity and add technical capabilities over this three-year period, which included an increase in incremental costs associated with increased labor, facility cost and depreciation, cumulating into a net loss in fiscal 2024. On the basis of this evaluation, as of April 30, 2024, a valuation allowance of $118.5 million has been recorded to recognize the portion of the deferred tax asset that is more likely than not to be realized. The amount of the deferred tax asset considered realizable, however, could be adjusted in future quarters if objective positive evidence in the form of cumulative income and additional weight is given to subjective evidence such as our projections for growth.
During the fourth quarter of fiscal 2024, the company’s net loss was $123.1 million or $1.94 per basic and diluted share, compared to a net loss of $0.3 million or $0.01 per basic and diluted share for the fourth quarter of fiscal 2023. For the 2024 full fiscal year, the company recorded a net loss of $140.8 million or $2.23 per basic and diluted share, as compared to net income of approximately $0.3 million or $0.00 per basic and diluted share, during the same prior year period. Excluding the income tax provision recorded due to our valuation allowance of $118.5 million recorded during the fourth quarter of fiscal 2024, the company’s adjusted net loss was approximately $4.6 million or $0.07 per basic and diluted share for the quarter, and an adjusted net loss of $22.3 million or $0.35 per basic and diluted share for the full fiscal year 2024.
On April 30, 2024, Avid reported cash and cash equivalents of $38.1 million, compared to $38.5 million on April 30, 2023.
More detailed financial information and analysis may be found in Avid Bioservices’ Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission today.
Recent Corporate Developments
The company’s commercial team signed multiple new orders during the fourth quarter of fiscal 2024, totaling approximately $30 million net, and resulting in a backlog of $193 million. These orders span a broad range of the company’s capabilities and are primarily from later-stage projects. The company anticipates a significant amount of its backlog will be recognized as revenue over the next five fiscal quarters.
Subsequent to the quarter end, the company achieved a Committed Badge from EcoVadis, one of the world’s most trusted providers of business sustainability ratings. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement, and more than 125,000 companies globally have been rated by EcoVadis. Avid earned a score of 56 from EcoVadis, placing the company in the 62nd percentile globally.
Statement Regarding Use of Non-GAAP Financial Measures
The company uses certain non-GAAP financial measures such as non-GAAP adjusted net income, free cash flow, as well as adjusted EBITDA. The company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The company believes that they provide useful information about operating results, enhance the overall understanding of its operating performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. These non-GAAP financial measures exclude amounts that the company does not consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization and its senior management. The company computes non-GAAP financial measures primarily using the same consistent method from quarter to quarter and year to year, and may consider whether other significant items that arise in the future should be excluded from its non-GAAP financial measures.
The company reports non-GAAP financial measures in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. generally accepted accounting principles (GAAP). These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, differ from GAAP measures with the same names, and may differ from non-GAAP financial measures with the same or similar names that are used by other companies. The company believes that non-GAAP financial measures should only be used to evaluate its results of operations in conjunction with the corresponding GAAP financial measures and encourages investors to carefully consider its results under GAAP, as well as the supplemental non-GAAP information and the reconciliations between these presentations, to more fully understand its business.
Non-GAAP net income (loss) excludes stock-based compensation; business transition and related costs including, but not limited to, corporate initiatives into new business activities such as severance and related expenses; non-cash interest expense on debt; and other income or expense items and is adjusted for income taxes. Adjusted EBITDA excludes non-cash operating charges for stock-based compensation, depreciation, and amortization as well as non-operating items such as interest income, interest expense, and income tax expense or benefit and is adjusted for income taxes. For the reasons explained above, adjusted EBITDA also excludes certain business transition and related costs. The company also uses measures such as free cash flow, which represents cash flow provided by or (used in) operations less cash used in the acquisition and disposition of capital.
Additionally, non-GAAP net income (loss) and adjusted EBITDA are key components of the financial metrics utilized by the company’s compensation committee to measure, in part, management’s performance and determine significant elements of management’s compensation. The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP financial measures are included at the end of this press release.
Webcast
Avid will host a webcast on Tuesday, July 2, 2024, at 4:30 PM Eastern (1:30 PM Pacific). To listen to the live webcast, or access the archived webcast, please visit: https://ir.avidbio.com/investor-events.
About?Avid Bioservices, Inc.
Avid Bioservices (NASDAQ: CDMO) is a dedicated contract development and manufacturing
Painting the tape this morning?
Date/Time Price Shares Exch/Mkt
07/02/2024 7:34:06 EDT I 7.48 10 ARCA
07/02/2024 7:23:06 EDT I 7.12 5 ARCA
07/02/2024 7:16:40 EDT T 7.30 100 CBOE EDGX
07/02/2024 4:53:54 EDT I 7.12 86 CBOE EDGX
It would be nice if scheduling earnings before a holiday is a head fake and that good results will be reported. I doubt it, though.
Avid Bioservices to Report Financial Results for Quarter and Fiscal Year Ended April 30, 2024, After Market Close on July 2, 2024
July 1, 2024 at 7:00 AM EDT
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TUSTIN, Calif., July 01, 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 services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the quarter and fiscal year ended April 30, 2024, on July 2, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the quarter and fiscal year ended April 30, 2024, and review recent corporate developments.
To listen to the live webcast, or access the archived webcast, please visit: http://ir.avidbio.com/investor-events.
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
What is the deadline for reporting FYE results? 6/30?
Where is the earnings call release?
Good point.
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.
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 .
Last year’s conference call was 6/21/23.
You’re right. I misspoke.
IMO Lytle should have been thrown out with the trash years ago. He must know where the bodies are buried to stay on.
Avid Bioservices Earns Committed Badge from EcoVadis for Sustainability Performance
May 23, 2024 at 8:05 AM EDT
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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
First premarket trade
Date/Time Price Shares Exch/Mkt
05/20/2024 9:05:17 EDT I 9.12 43 NDD
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
Why does Cubbie never visit when we’re going up? Nice pop today. Hope it holds.
Institutional Shares (Long) 69,918,173 - 110.14%
Still subject to change as this is the deadline for 3/31 holdings reporting.
HALO is having a good run. 38.10 on 4.30, now 45.42.
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)
173K volume so far. Higher than usual.
II 105.12%.
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
Quite a it of activity the last few days. From Fintel. Anyone know 12 West Capital? Added 2.75 mil shares. Institutions now own 104.87%
File Date Source Investor Type Avg Price
(Est) Shares ? Shares
(%) Reported
Value
($1000) ? Value
(%) Port Alloc
(%)
2024-05-08 13F Russell Investments Group, Ltd. 176 -99.96 1 -99.97
2024-05-08 13F Great Lakes Advisors, Llc 65,283 -2.85 437 0.23
2024-05-07 13F Sei Investments Co 138,963 -1.97 931 1.09
2024-05-07 13F Susquehanna International Group, Llp 91,275 -49.91 612 -48.40
2024-05-07 13F Swiss National Bank 124,400 0.00 833 3.09
2024-05-07 13F Arizona State Retirement System 17,380 -1.49 116 1.75
2024-05-07 13F Cornerstone Planning Group LLC 15 0.00 0
2024-05-07 13F New York State Common Retirement Fund 887,302 17.02 6 25.00
2024-05-07 13F 12 West Capital Management LP 2,750,000 18,425
2024-05-07 13F M&t Bank Corp 103,567 0.13 694 3.13
2024-05-06 13F SG Americas Securities, LLC 0 -100.00 0
2024-05-06 13F Advisory Services Network, LLC 0 -100.00 0
2024-05-06 13F Teacher Retirement System Of Texas 14,073 -3.54 0
2024-05-06 13F Quantbot Technologies LP 0 -100.00 0
2024-05-06 13F HighTower Advisors, LLC 11,241 74
2024-05-06 13F Addison Advisors LLC 158 0.00 1 0.00
2024-05-06 13F Parallel Advisors, LLC 1,956 -1.86 13 8.33
Avid Bioservices to Participate at Upcoming Investor Conferences
May 7, 2024 at 4:05 PM EDT
Download PDF
TUSTIN, Calif., May 07, 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 will participate at two upcoming investor conferences. Nick Green, president and chief executive officer, will be the featured speaker in a fireside chat at the RBC Capital Markets 2024 Global Healthcare Conference, and will deliver a corporate presentation at the 2024 Bank of America Securities Healthcare Conference.
Details of the company’s participation are as follows:
RBC Capital Markets 2024 Global Healthcare Conference
Conference Date: May 14-15, 2024
Fireside Chat Time/Date: 4:35 – 5:05 p.m. Eastern on Tuesday, May 14, 2024
Location: InterContinental New York Barclay, New York
2024 Bank of America Healthcare Conference
Conference Date: May 14-16, 2024
Presentation Time/Date: 11:55 a.m. – 12:10 p.m. Eastern on Thursday, May 16, 2024
Location: Encore Hotel, Las Vegas, NV
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
Block trade
05/07/2024 14:15:03 EDT V 8.59 199700
Well, we broke through, but low volume, so it may not hold.
6 Form 4’s filed.
https://ir.avidbio.com/sec-filings
A million shares traded so far.
Form 144 filed
https://ir.avidbio.com/node/20776/html
No apology for the note fiasco, not that I expected one.
Block trade
04/29/2024 15:06:33 EDT 7.65 227500
Point72 filed a 13G with a 5.1% ownership. Previously held 509,831 shares. Now 3,226,006 shares.
https://ir.avidbio.com/node/20771/html
https://ir.avidbio.com/news-releases/news-release-details/avid-bioservices-reports-financial-results-third-quarter-ended-1
Recorded Third Quarter Revenue of $33.8 Million --
-- Signed $41 Million in Net New Business Resulting in Record High Backlog of $206 Million --
-- Celebrated Completion of Recent Expansion Program with Grand Opening of Cell and Gene Therapy Manufacturing Facility in January 2024 --
-- Completed Convertible Debt Offering Subsequent to Quarter End, Extending Debt Maturity to 2029 --
Latest trade. 04/24/2024 17:09:55 EDT W 6.83 167902 NDD
I didn’t see a link on their website, but you can ask Stephanie to add your info at mailto:sdiaz@vidasp.com.
I didn’t get an email from Avid on the filing as I usually do. What’s up with that? I got emails on all the Form 4’s the other day.
Altravue Capital filed a 13G yesterday raising their percent to 5.3% from 4.7%.
https://ir.avidbio.com/node/20731/html
Sorry, I didn’t find it. There was a 242K trade around 5 pm yesterday.
The last regular trade was over 1.3 mil shares.
Date/Time Price Shares Exch/Mkt
03/15/2024 16:01:33 EDT P 6.29 791 NDD
03/15/2024 16:01:25 EDT P 6.29 5020 NDD
03/15/2024 16:01:17 EDT P 6.29 368 NDD
03/15/2024 16:00:36 EDT I 6.29 5 NDD
03/15/2024 16:00:36 EDT P 6.29 936 NDD
03/15/2024 16:00:36 EDT P 6.29 4357 NDD
03/15/2024 16:00:36 EDT P 6.29 2752 NDD
03/15/2024 16:00:36 EDT P 6.29 18887 NDD
03/15/2024 16:00:36 EDT P 6.29 4330 NDD
03/15/2024 16:00:36 EDT P 6.29 11323 NDD
03/15/2024 16:00:36 EDT I 6.29 6 NDD
03/15/2024 16:00:11 EDT I 6.29 2 NDD
03/15/2024 16:00:10 EDT I 6.29 2 NDD
03/15/2024 16:00:07 EDT W 6.29 2035 NDD
03/15/2024 16:00:07 EDT W 6.29 3520 NDD
03/15/2024 16:00:01 EDT T 6.29 533 NDD
03/15/2024 16:00:00 EDT I 6.29 1 NDD
03/15/2024 16:00:00 EDT X 6.29 1331702