Avid Bioservices Inc (CDMO)

[Protector]

bidrite, a very big effort is made to make everyone believe we are far from the target (some have projected Bavi in 2018) and an even bigger effort is made to make everyone believe PPHM PPS will not appreciate until approval by the FDA.

We have however seen in

A) 2012 with the 2nd ln NSCL interim results that this is not so, the PPS anticipates. This time the market will know PPHM will not lightly announce interim results which will make them the more valuable. The payment from CSM (600K$) is not much but it confirms THEY F..ed. UP our trial and that is what needed to be out there.

B) That if this kind of collaborations/partnerships such as with Memorial Sloan Kettering, AstraZeneca keep coming the marked is going to start looking completely different on PPHM.

C) With Avid II commercialisation of Bavi will be sped up compared to a company that needs to outsource its production to 3rd parties.

D) With the fast track a big part of the BLA is already made and discussed with the FDA. rest assured that Garnick will milk the Fast Trac's possibilities to the last drop.

E) And we haven't either considered an early stop at the look-ins or the granting of a priority Review.

So events are much closer then we think and the 175Mil$ shelf will very probably MOSTLY serve for OTHER things then the ongoing SUNRISE.