Avid Bioservices Inc (CDMO)

[Protector]

RM, the date setting of DEC 2015 as end of enrolment is a target. that on itself is forward looking.

The reports of being ON TRACK are quantifications on what the eventuality is that that EDUCATED forward looking set date will be the real end of enrolment. These reports are therefore NOT FORWARD LOOKING be-ut report a measurement against a curve set out to enrol 582 patients in 24 months.

If you STAY on track, and the LONGER you stay on track (and we are currently ON TRACK since 14/15 months out of 24 months) then, while still a forward looking statement, the statement looses of its PREDICTIVE quality and GAINS in its CERTAINTY quality.

While 100% predictive and 0% certain in JAN 2014 the statement will be 0% predictive and 100% certain in DEC 2015. The ON TRACK reports tell is in a NON FORWARD LOOKING WAY but as a REPORT of CURRENT STATE where we are in the balancing the forward lookiness out of that statement.