Avid Bioservices Inc (CDMO)

[biopharm]

Great post RRdog and as usual, I have an opinion and will say where I disagree but I'd first like to start with your ending statement:

Condolences to our French allies and the people of Paris and to all freedom loving people. Again, "close timing" is impossible to predict, but, it is more important to know that the day of reckoning will come.

The day of reckoning will come and I do agree with mostly all of your post, except a little area. First, you do give some merit re: "Manhattan Project" as an analogy for what is going on behind the scenes with Peregrine....

There is an analogy hanging around this board that the PS/bavi platform is similar to the "Manhattan Project" that developed the atomic bomb. I think this analogy was first posited by MH. IMO there is real merit to this analogy only I would take it further and be more specific. The Manhattan Project and the building of Oak Ridge and the Nevada test sites was a monumental undertaking requiring huge resources that were "war scarce". The Roosevelt admin would not commit to the project until "the man"-- Albert Einstein-- sent a letter endorsing the feasibility of the project which was based on his work. (when you see that mushroom cloud you know that indeed E=mc 2)

.... and then also give mgmt a D- on recent funding.

I grade PPHM mgmt a (d-) on the recent funding--barely passing. They pass because they raised some needed funding to move forward on their clinicals, they put it in strong hands where the stock is not likely to come back on the open market, and it was a "clean" funding without fees. The reason I give it a barely passing grade is that anyone on this board could have sold plain vanilla common stock at $1.08 Ask yourself why we are paying this mgmt team millions of dollars for something any of us could do??????????????????????

.... I believe the enemy of our enemy just may be our friend in this case, because now someone.... family or whatever... is being diluted so to speak and Ken Dart never once sold (like BlackRock) and then immediately bought back in so yes, I completely agree that the funds went into a strong hand where the stock is not likely to come back on the open market. Maybe this was more important at this time.... vs taking any chance selling to someone else where Peregrine mgmt "MAY" have had to expose more to their "PLAN". Keeping it in house as much as possible just seems like the way they must play this out.

Lots of controversies though ... and only time will tell and I believe 100% that in time this management will be given that A grade since they could have been persuaded to sell us out cheaply and they have never done so like so many other small biotech management teams.

Great post again and I just hope Dr. Cohen and Dr. Finke also go public and pi$$ off Pfizer in saying that PS Targeting is required for the most optimal immune response with Sunitinib... or maybe Pfizer already knows this and other reasons to go after Allergan.

2016 looks like the year of disruption in biotech history and the Sunrises in Peregrines favor.