Avid Bioservices Inc (CDMO)

[Protector]

hutschi, thanks. I can advise everyone to look and listen CAREFULLY to what Novartis CEO says at time index 1:42.

CNBC Immuno-Oncology and Combination (combo's) technology

Now think, if that is what this man's believes, and very possibly a believe that is present with ALL his main competitor, then WHAT SUBSTANCE do we know that is UNQIUE in the Immuno-Oncology market that will go in combinations and for which there is NO ALTERNATIVE?

Bavituximab is the only UPSTREAM agent. On the NEXT questions, after the reporter says we are late in the game at this moment, the CEO says "Assets are quite EXPENSIVE in the market right now but we keep looking!". So they ALREADY all identified the ASSETS. They talked with the ASSETS and know what they cost OTHERWISE he could NEVER have made such statement. AZ, BMY will for sure be some of these assets but PPHM is surely another one.

Yes, indeed, BP's swallowed away all easy targets. Those that remain are the HARD-TO-GET ones and the EXPENSIVE ones. And i believe PPHM with Bavituximab's, as being the ONLY UPSTREAM agent (see also the presentation slides of PPHM on many conferences) will be needed BY ALL.

So they will either FIGHT for it, make an association and own it commonly so that they all have access (in which case they can join and make an UNSEEN offer to PPHM that no BoD could stop such as 100$ + X shares of EACH of them per Y PPHM shares). They would hardly feel it in their pockets and the PPHM vote would be 100% YES. They can leave King in charge of the complete program and PPHM only sells via the member BP's never directly to the market. That cancels the need for a full sales & marketing program.

Or the 3rd solution, PPHM will be the Bavi source for each of them and enters in the PROPORTIONAL SHARE PROFIT economy. But if Bavituximab is really the unique component then you understand BP is not going to like the word 'proportional' in this phrase, the more that it looks that Bavituxmab can play in some others scenarios, as an analyst emphasized last CC, that could render the complete downstream I-O market obsolete.