Avid Bioservices Inc (CDMO)

[pphmtoolong]

If you want to blame someone for our miserable share price, Mother Nature is my prime suspect. If Mother Nature had cooperated, Sunrise would have shown Bavi-chemo as a great lung cancer fighter. Didn't happen.

I think most of us probably believe Peregrine management had reasons to expect Sunrise would be successful. Garnick picked the target, the reconstructed Phase II data looked good. So, I can't blame management for the failure.

What I can blame management for is failing to react quickly to the new reality. If they continue to fritter away their limited capital, they will drag down what's left of our investment.

Management must restore investor confidence as quickly as possible. If they can't attract a major partner-investor, they must prove they can operate on their own funds. I know this is easier said than done, but how else can they avoid a reverse split? I have no doubt a reverse split will take us down an additional 50%, or more. If this happens, I know who to blame.

GLTA, Paul