Avid Bioservices Inc (CDMO)

[pphmtoolong]

EBS, you may be right or you may be wrong about what the DMC will see in the first look-in around mid-2015.

First, we don't know how the enrollment is going, so we can't know how statistically significant any finding may be at that time.

Second, we can't know how many patients in the control arm have evented vs. the bavi arm. So, we can't know how much better the Bavi arm patients may be doing vs. the control arm.

So, the trial may indeed run into 2016 with no significant results or may be terminated in mid-2015. Either to request early approval or to shut it down as unsafe or ineffective.

Also, we can't know when/if Peregrine will finally get a partner, which would spare them the usual dilutive funding. So, your concern regarding funding could disappear at any time.

It is always safer to assume the worst case scenario. However, anyone who expects the worst case scenario would be nuts to buy PPHM shares IMO.

GLTA, Paul