Avid Bioservices Inc (CDMO)

[Protector]

AstraZeneca provides PD-L1 for free to PPHM!

PPHM Quarterly/CC : Confirmation in relation to AZ paying for the PD-L1 compound.

Paul J. Lytle - CFO
Yes, so I think in general as part of the AZ collaboration of course they are providing the drug itself, which is a huge cost benefit in this sort of trial because it allows us number one full flexibility to start study as quickly as we can, but also that it takes the need to purchase any of the PD-1, PD-L1 inhibitors off the table. So that's a significant benefit for their participation in the current collaboration. And again I think for us one of the key drivers was the ability to get these studies started as soon as we can because our bigger goal here is to be able to generate data again by the time that we unblind the SUNRISE study.

So I think for us right now time is of the essence. I think as we go forward we will be wanting to find probably more partners that can bring additional funding to the table and help us to run studies, ...

Indicating that they have at least ONE partner already that brings funding to the table. It also support the "many small partnerships/collaborations" model vs the one big suffocating old style partnership with the breadcrumb rewards.

Stephen T. Worsley - Vice President, Business Development
By aligning with these world leaders to develop novel immuno-oncology combination therapies we are positioning ourselves to maximize the potential role that bavituximab can play in this new era of innovative immuno-oncology treatment. We believe these collaborations validate the promise of bavituximab and are indicative of the well validated science we are conducting at Peregrine. We are in the fortunate position to have full rights to this valuable Phase III asset. We believe with the substantial scientific support and compelling data, bavituximab will continue to bring world leading organizations to the partnering table.

...

But also some of the funding to take care of patient cost and what have you, but at this early stage the most fun thing for us was to really have control of the study be able to get it up and running because we feel the real value is getting this data in a timely fashion because of the value it can a add on the back end.

Unencumbered pipelines and IP...:) now they are fortunate not having sold out early for breadcrumbs. I agree. Lytle actually understand the non-dilutive part of the ATM usage! Good so!

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