Avid Bioservices Inc (CDMO)

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DILUTION: Who’s diluting whom??? Don’t be deluded about dilution.

In 2004 PPHM had a share price high of $16.

In 2006 the high price was still $9.95. Peregrine was conducting its Bavi phase 1 cancer trial. Even this was a great non-dilutive share price for conducting cancer research. But shorters had a different plan.

Heavy shorting continued to push the share price down, down, down, as PPHM went into mid-stage Bavi trials.

Heavy short interest continued to push the share price down. Again, where was the dilution coming from???

Finally they pushed the price below $1 and held PPHM’s head underwater, threatening its ability to maintain the important NASDAQ listing. Peregrine needed to get back above $1, and did the reverse split of 1 share for five.

Who was the real source of this pressure on the company and its shareholders???

Again, as we approached the un-blinding of the Bavi phase2 trial, short interest had pushed the price all the way down to 39 cents before lifting their boot off Peregrine’s neck, and letting the price run.

Over the years, much money that could have supported lifesaving cancer research, instead, went into the accounts of short interest operators.

Who is the real source of the dilution???

Now, again, short interest has pushed the share price back down to the $1 range as SUNRISE nears full enrollment.

If all these years of heavy shorting had not occurred, we would not be requiring these extra shares today, because we would have been financing our cancer trials with far fewer shares, priced at something like $10-$15.

So, we should be cognizant of what the real source of our dilution was...and still is???

IMO

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