Avid Bioservices Inc (CDMO)

[pphmtoolong]

Another positive. Peregrine was sitting on a $50-60 million when the Sunrise didn't. This gives them enough time to continue Avid expansion, while continuing early phase Bavi-immunotherapy development.

What Peregrine management must do is regain investor confidence. Without that we will see another shareholder punishing reverse split.

Management must reduce the burn rate to zero. It can be done, if they have the cojones to do it. No reason to believe they have them, but maybe the Sunrise failure taught them something.

GLTA, Paul