Avid Bioservices Inc (CDMO)

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To the disappointment of investors (who sent the company’s share price down 6.5 percent) Bristol-Myers Squibb’s much anticipated Checkmate-057 study – assessing Opdivo for non-squamous non-small-cell lung cancer (NSCLC) – showed a survival benefit only in those patients expressing the PD-L1 biomarker. No benefit was demonstrated in the 40 percent to 45 percent of patients lacking this biomarker

Do you all remember the two weeks leading up to ASCO when multiple modes of transportation tried so hard to convince us Opdivo was the final nail in PPHM coffin? Yet another momentum argument debunked.