Avid Bioservices Inc (CDMO)

[pphmtoolong]

The most important thing I took away from the CC is management's clear intention to turn Peregrine into a profitable, cash generating company. About time.

On the Avid front there were two solid items. First, 68 million in confirmed contracts. Second, the third Avid facility will come on stream mid next year. A third somewhat solid item is the intention to broaden Avid's product/services menu. Once you have a customer in the door why not sell them more stuff. It is entrepreneurial thinking we have not seen from Peregrine before.

On the drug development side the exosome testing kit project may or may not have value. We'll just have to wait a year or so to find out.

As to the Bavi project, it is noteworthy that Sunrise patients are still on Bavi. Maybe there is still hope for Bavi. We should learn something here in the next months if there is anything promising. We'll soon see.

I am not tempted to add at this time. If the share price stabilizes after the all but inevitable RS, might be time to think about adding. If you haven't sold already, I don't see any need to now.

GLTA, Paul