Avid Bioservices Inc (CDMO)

[pphmtoolong]

Additional share authorizing? I can see a limited number of reasons for management wanting this authority:

1. They expect a large ramp up in company size to commercialize Bavituximab. Could they actually plan to build their own distribution system? Don't know. If they do plan this expansion, I like to think the cost benefit analysis is telling them shareholders would benefit.

2. They expect a partnering deal will involve the partner acquiring a big chunk of PPHM shares. Don't know how likely this is. However, I like this kind of dilution if the deal is a good one.

3. Last and worst. Planning for a Sunrise flop. If this occurs, I will be the first one trying to liquidate my investment. I like to think this is very improbable. If I were on the BOD, I would want this option to fund Peregrine until they could get Plan C or is it Plan D(could be Plan E) going.

So, in any event I don't see how this dilution would be a problem for me.

GLTA, Especially Those Long Lived Bavi-arm Sunrise Patients,

Paul