Avid Bioservices Inc (CDMO)

[md1225]

We have our BMY Yervoy trial going on two years come October. We were suppose to be updated throughout the trial? Clearly BMY knows how this trial is trending as does Peregrine and the FDA. Peregrine is starting any day now a phase II ORR driven trial with Opdivo in frontline Nsclc. The FDA cleared this trial in my opinion because of the safety shown in the Yervoy/Bavi melanoma trial otherwise it would be a phase Ib. BioBS just posted the other day an update of BMY Opdivo/Yervoy trial in frontline Nsclc and the trial is clearly a failure.

With the above information in hand I have drawn my own conclusion that BMY will be Peregrines first large money deal partner and the one who buys them out imo.