Avid Bioservices Inc (CDMO)

[keep_trying]

I find this quote in the PR interesting:

"Avid Bioservices had a strong fourth quarter and record fiscal year (FY) generating $9.3 million in contract manufacturing revenue in the fourth quarter of FY 2015 and $26.7 million in contract manufacturing revenue for the full FY 2015," said Paul Lytle, chief financial officer of Peregrine. "We have also continued to see a strong demand for contract manufacturing services that has grown our committed backlog to approximately $40 million. With the new manufacturing facility coming online in the near future, Avid is positioned to meet the growing demand of existing and potential future clients while also preparing for our potential commercial launch of bavituximab."

Read more: http://www.nasdaq.com/press-release/peregrine-pharmaceuticals-reports-fourth-quarter-and-yearend-fiscal-year-2015-financial-results-an-20150714-01006#ixzz3fu6eE8U9

And Sunrise trial enrollment being on track:

Continued progress enrolling ongoing SUNRISE clinical trial in non-small cell lung cancer (NSCLC); study remains on schedule to complete enrollment by end of calendar 2015


Add cash reserves being sustained at levels more than sufficient to finish the job:

Peregrine reported $68,001,000 in cash and cash equivalents as of April 30, 2015, compared to $77,490,000 at fiscal year ended April 30, 2014.

And plenty more achieved with intellectual property and late stage trials being prepared for launch. Very nice PPHM and Avid!

Best wishes and IMO.
KT