Avid Bioservices Inc (CDMO)

[pphmtoolong]

Hypi, the joke may not be PPHM. It may be on the folks who keep their eyes on the rear view mirrors looking at what Peregrine was like in the past. If you look out the windshield, you can see something completely different, the Sunrise.

I know you remember Abbvie was close to partnering with Peregrine in 2012. Back then Bavi's mechanism of action as an immune-therapy was not known. The BP push into immune-oncology was barely starting. Now there is budding evidence that Bavi is an ideal partner of the "down stream" immune-therapies the BPs are rushing into. If Abbvie didn't think Peregrine had a joke in Bavi then, how much more serious is Peregrine and its Bavi viewed now by those who actually know what is happening?

While the Bavi-BP immunotherapy connection is just starting, the pivotal, Phase III Sunrise trial will finish enrollment in a few months. The survival data will be available mid-2016.

If Peregrine hits the daily double with Sunrise and with just one of the BP's new immune-oncology drugs, we longs may be laughing all the way to the bank. My kind of joke.

GLTA, Especially Bavi-arm Sunrise Patients,

Paul