Avid Bioservices Inc (CDMO)

[BioBS2012]

Preclinical results are meaningless to the market. Nice but not adding any value

You have to look at building shareholder value to constructing a highrise. The shareholder is equivalent to a tenant that has signed a lease. When you are observing the addition of each floor to the high-rise you continue to wait anxiously as to when you will be able to move into your new digs. The building still looks unfinished, even as each new floor continues to add value to your investment. If the real-investment market is good your investment in that building continues to increase in value even though the building may not be ready for move-in for several more months.

Each-preclinical continues to define the shape of the building that continues to rise right in front of our eyes.