Avid Bioservices Inc (CDMO)

[EYEBUYSTOX]

The PPS isn't a "joke". It reflects a market cap of close to 400 million, which in our minds is a joke because that used to mean a $4 PPS. I see no reason to think that Lytle stopped running the
ATM in the $2-3 range so we should be close to 200 million OS by now. We should also have close to $100 million in the bank. Not bad IMO. The "joke" is that we went to $500 million market cap on 80 million shares with no news being issued. That joke sucked and most likely violated several securities laws in the process IMO.