Avid Bioservices Inc (CDMO)

[pphmtoolong]

Bad luck is not the same as bad management. Bavi looked good in pre-clinical and showed promise in the early phase trials, not all but some. Those butt holes in Fargo confused the issue, but the reconstructed data was good enough for the FDA.

Meanwhile, management had the good sense to move Avid from an inhouse producer of Bavi to a rapidly growing producer of biologicals using what appear to be state of the art procedures. Let's not pretend this was not smart.

As to profitability, management says they expect sustained profitability in two years. I read this to say we may see profitable quarters sooner than that.

Focusing attention on the rear view mirror does not reliably predict the future. Especially when the car has turned down a very different street.

Sorry no billions of profits. We will just have to be satisfied with millions of profits.

GLTA, Paul