Avid Bioservices Inc (CDMO)

[pphmtoolong]

As a professional computer programmer, I think I know something about logic. Your points are not based on logic. They are not irrational, just not based on logic.

Probably a waste of time but let's have a look at your points.

1. The expectation of success was not based on lack news. It was based on lack of an announcement which we were told to expect once the data was in. In fact when the data came in, there was an announcement, and the share price exploded upward.

2. Your 'logic' suggests that drug companies should not undertake trials unless they know they will succeed. To be fair, unlike some posters here, you may be assuming Peregrine knew at the time how the body responds to immune therapy. It was not known at the time. That is why they do clinical trials. To learn these things.

3. The pivotal, Phase III trial is much larger than the Phase II, but the trial design is virtually identical, and your memory is faulty Rob Garnick stated the results of the Phase II, even after data reconstitution, were statistically significant.

So, you can continue to make reference to the results of the irrelevant pancreatic trial. Or you can enjoy the wait as Bavi increases the survival time of these desperately sick patients.

Every day without an announcement means patients are living longer with Bavi. If that means we shareholders will make a lot of money, I suppose that is just logical.

GLTA, Especially Bavi-arm Sunrise Patients.

Paul