Avid Bioservices Inc (CDMO)

[skweze]

Certainly an "if," but possible, imo.

The CA was over before the calendar year, but then it was appealed. In my non-professional opinion, the plaintiff's appeal brief was extraordinarily weak, so the only rational reason for them clinging so stubbornly (and seizing every opportunity to delay and drag out) is to act as a wrench in the machine and hope to extort a settlement by threatening to delay progress. Of course, it would take someone with inside information to know that there exists a machine in which to toss a wrench, but it would also take someone with inside knowledge to know about the partnership negotiations with AbbVie.

I have given much thought to the "coming year" matter. The statement was made with much confidence and certainty - it was prepared. If...and this is a big if...the CA dismissal is the only obstacle in announcing a partnership I can understand where SK may have thought it would be over before the end of calendar year. He was given legal advise and anticipated the CA being dismissed but the lawyers kept the statement ambiguous just in case. This is the explanation that makes most sense to me.