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Your more than welcome!
Your 2 post have been very informative also!!!
Looks like Avid can't take 8.3% inflation
Most of us can't
But the Bozo show continues in Washington
If we were only Pfizer
Looking through the latest 10Q Filed March 8, 2022
I think Avid did disclose the dispute with HGEN
https://ir.avidbio.com/node/19566/html
Top of page 7
During the three and nine months ended January 31, 2022, changes in estimates for variable consideration resulted in a decrease in revenues of $1.2 million and $12.4 million, respectively. These changes in estimates for variable consideration can primarily be attributed to a dispute with a customer over the payment of certain cancellation fees due to us under the terms of the related customer contract which resulted in a decrease in revenues of $0.3 million and $11.5 million, for the current year three and nine-month periods, respectively. We believe we have a contractual right to the disputed amount, but as this contractual right is being disputed and therefore may be uncollectible, we have not recorded revenue associated with the disputed amount.
I found this in HGEN"s Form 10Q. I don't know if it has been posted but I think it puts more color on the situation
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001293310/02d957db-207e-458f-ba00-748f863aa7a6.pdf
Page 12
Other CMO's had problems manufacturing lenzilumab?
Manufacturing Agreements
The Company has entered into agreements with several CMOs to manufacture bulk drug substance (“BDS”) and to provide fill/finish services or drug
product (“DP”) for lenzilumab for a potential launch of lenzilumab in anticipation of an EUA or CMA. The Company has also entered into agreements for
packaging of the drug. These agreements represent large commitments, including upfront amounts prior to commencement of manufacturing and progress
payments through the course of the manufacturing process and include payments for technology transfer. Since September 9, 2021, the Company has amended,
and in some cases canceled, certain of these agreements, some of which were contingent on EUA, in an effort to reduce its future spending on lenzilumab
production until and if authorization is received in the U.S., UK, or EU. These actions reduced the Company’s manufacturing costs beginning in the fourth
quarter of 2021 and will limit future production of lenzilumab. In addition, certain of the Company’s CMOs have been unsuccessful in their efforts to
manufacture some batches of lenzilumab to the Company’s specifications for various reasons. The Company is working with one of these CMOs to determine
if batches of lenzilumab manufactured by them will be usable in the future or, if not, whether other financial recompense will be offered to the Company.
Another CMO was unsuccessful in its attempts to produce BDS and has filed for arbitration of amounts owed. Mediation efforts were unsuccessful as the CMO
insisted on large cash payments despite its inability to produce any BDS. The Company is contemplating litigation in an effort to recover previous monies
provided to this CMO as prepayment for services and materials and to recover a significant amount of raw materials and components currently held by this
CMO that have been paid for by the Company. As of March 31, 2022, the Company estimates that its commitments remaining to be incurred under these
agreements are approximately $42.6 million for the remaining nine months of 2022, $11.8 million for 2023, and $4.6 million thereafter. Certain of these
commitments and amounts accrued at year-end are in dispute and the Company intends to defer these payments, negotiate lower amounts or seek other courses
of action for the amounts in question
Was the subcontractor's ingredient, process or equipment specified in the contract by HGEN? Or was Avid free to go out and use it's own subcontractor.
Who choose the subcontractor under the contract? That's the real question.
I have no sides because I have money in both.
We'll that statement certainly confirms someone's creditable
What's with all the newbies selling snake oil???
Come on guys I am only allowed so many Iggy's
How many CDMO shares will trade at 3:55pm?
I say 343,000
liquidity problem?? What about the "dark pool" trading that goes on every day in this stock and is reported in the last 5 minutes or AH a t some arbitrary price. Dark pools are private asset exchanges designed to provide additional liquidity and anonymity for trading large blocks of securities away from the public eye. This type of trading is not transparent !
Why do we have an open stock exchange if trades like this are allowed. IT diminishes the integrity of the whole system. We have to ask? Is this stock being traded fairly??
Secret trades are being made all day long at if another owned would have the trade information they may react differently.
Do you feel like we get all the information on the large blocks that the EOD of AH?
Down 50+cents on less than 10,000 shares!
Come on !! If this isn't manipulation I don't know what is
Pay no attention to the man behind the curtain.
Suitor scooping up as many shares below an offer price on the way back up as they did on the way down???
13d time? all in my opinion of course!
I am thinking/hoping Nick will give updated on expansion work next week. I don't think he could do it this week because of end of quarter/year being April 30th.
"Does anyone have an explanation for the .01 cent estimate?"
I understand the lower estimate because of an anticipated lower margin because of higher start up costs before new revenues kick in.
Nick talked about this at the ASM in October and on one CC since. New people have to be hired, trained and be working before the new revenue begins to come in. Depending how these costs and new revenues start up it could make margins look out of wack in a given quarter. So I think he is hedging his estimates should that happen. IMO
I think we could use a PR from Nick with an update on the progress of the expansions.
Any body know if we get anything we need from Shanghai, China?
Isn't that the " Thank you Sir, may I have another" hostel takeover strategy?
May as well take it down to 50 cents and do a reverse split. LOL
This just doesn't make sense.
12 months from now all expansions will be completed and we will be generating
$350+ in revenue. 30% margins?? tax credits for several years.
Enough profit to fund more organic growth? Or pay of convertible debit with no delusion before 2025-26.
With our regulatory superiority we are prime takeover candidate for any pharma looking to bring production in house.
Traded at $17.30 lost $2 million in 5 days. On paper.
Paper loss, that's my words of the day!
Someone said it was a form T transaction.
I thought it was another mysterious end of day large trade that someone forgot to report in the last 5 minutes of trading day?
Form T is used for reporting equity trades executed outside of normal market hours.
Form T is also used to submit last sale reports of OTC transactions in equity securities, for which electronic submission is not possible.
The objective of the Form T report is to maintain market transparency and integrity.
There you go it's maintaining market integrity
I called it at $15.25 and added more. You see how that worked out.
I figure we have a 8-9 forward looking P/E ratio right now with 350M in revenue and 30% margin 18-24 months out. I think both are low balled by Nick.
I think we command a 23 P/E ratio in normal market even higher with any announcement accelerated growth above 350M
They took my order to buy for 1200@15.25. One 1000 order and one 200 order
I'm having a hard time understanding these end of day large trades.
So, someone can trade smaller lots of shares all day and not report the trade then in the last few minutes of the trading day report one big trade??? How is that legal???
I just don't get it
You're correct, Institutional investors don't know any more than we do!
The traders are having their way with the PPS because they can. Boarders on a scam IMO
Well that was ugly.
I'm out here in OC Tustin this week. Both sites Myford and Costa Mesa are in full construction mode. Myford was receiving several truckloads of pallets with large cardboard boxes. I would think manufacturing equipment? At Costa Mesa most of the work is inside the building and looks to be infrastructure.
They took it.
Last trade 129,000 shares
Have a order to buy 500 @ 17.70
Is it going to take?
Sounds like the movie "Fantastic Voyage" back in 1966
"Pill may replace injections for monoclonal antibody treatments" is totally false as I read it. The injection is made inside the stomach instead of in the arm or vein.
Pill may replace injections for monoclonal antibody treatments
https://www.europeanpharmaceuticalreview.com/news/161728/pill-may-replace-injections-for-monoclonal-antibody-treatments/
The capsule is filled with fluid and contains an injection needle and a plunger that helps to push the fluid out of the capsule. Both the needle and plunger are held in place by a pellet made of solid sugar. When the capsule enters the stomach, the humid environment causes the pellet to dissolve, pushing the needle into the stomach lining, while the plunger pushes the liquid through the needle. When the capsule is empty, a second plunger pulls the needle back into the capsule so that it can be safely excreted through the digestive tract.
Maybe CEO Nick could step up and buy a couple hundred shares?
Who knows the little bear paper airplane could have sold at $3 and bought back at $34?
CDMO has been trading today like one of those days where we get a big huge trade at the close.
We'll see
That sure shows he's on the Team
Excellent "regulatory track records" If memory serves me, at the ASM this was suggested as one of the greatest undervalued assets Avid has.
Consensus is .05 for the quarter right?
I am just worried about the comment Nick or Dan made last quarter about margins not growing because of the accelerated hiring for the VV expansion with no immediate revenue to offset higher expenses.
Starting to feel like Fall 2008
CDMO been holding pretty good today
Out here in Tustin for a few days for my work. Drove by Avid today. The Myford building is undergoing major construction. I have never seen this much going on, with fencing around 2/3 of the building. Many pieces of equipment and many shipping containers around the outside. Many many workers working away, looks like at a feverish pace.
Looks like their getting it done!
Anyone know the address of the Costa Mesa Viral Vector manufacturing facility? I have time tomorrow to take a look.
Sorry, just so frustrated about what's going on in this country!
I'll keep it to CDMO