Avid Bioservices Inc (CDMO)

[Protector]

Yes he pushes it and I think it is correct to say he has been throw a block of wood in the wheels in Sept 2012.

For the 3 years preceding that we will agree, with what we know know now about the dose switching, that they delivered and sat at the table with AbbVie and were about to add two board members.

So I am not going to hold intentional tampering with clinical trials by a woman working at our 3rd party CRO (CSM in Fargo) against SK's agenda.

Personally (as in PERSONALLY) I think we will have some news in September (Liver in Kyoto) but I do not think we'll have the partner news before the end of the FY vs calendar year (I am STRICKLY limiting to 2nd ln NSCLC). I think any partner there will at least want to see PIII preliminary information given the financial conditions and terms PPHM will ask for.

In Sept 2012 that was different, AbbVie negotiated when we weren't even approved for PIII design, while now we are running PIII, financed it without encumbering our patents or pipeline and without loans or other financial pressure, and we have already 115 treatment centres open and enrolling with personnel trained.

Add to that all the other pre-clinical and clinical results from CT's and CT IST's that look extremely promising (and I'll repeat myself now...) and PPHM is no longer the easy potential pray to sit at the table with. They know what they have and will turn it in share value.

That takes time and holding SK on time is not in our best interest. My personal opinion is, if time increases the chances to get honest value and avoid BP breadcrumb deals (as they usually try unless they see it isn't going to work - what would we do ourself?) increases too, and then I have no problem waiting certainly now that we know there was a BP at the table when we had a much less interesting file then we have now.

The dose switching made AbbVie go on hold, as PPHM PR'ed (without naming names because we know the name from the filings) and when PPHM's investigation was over they had the new info on Bavituximab that made them realise they had something way more powerful then they thought they had.

For us who wait, the last mile will be the most difficult, majorly because we know we have the goods and therefore don't understand why the pps doesn't appreciate and hence feel like PPHM should do something ACCORDING OUR TIME TABLE to make it happen.

Luckily SK and the BoD is there to run PPHM for the long term good and not for the immediate personal needs of each individual share holder.

So for me September but also April 2015 is OK. ( I am glad I didn't write March 2015 :)