Avid Bioservices Inc (CDMO)

[pphmtoolong]

Risk vs. reward to buy PPHM shares now. With the RS hanging over our heads probably too risky to buy. However, on a valuation basis Peregrine does look cheap IMO. At 210 million shares or so, at 40 cents a share, the valuation is about 84 million. Round it up to 90 million.

The corporate check book has about 60 million. So the rapidly growing Avid business is valued at less than 30 million. And the anti-PS project valued at 0.

I'm not buying. I have more than enough shares. It is nice to know that if Avid continues to grow and Bavi is worth something, some day company valuation may well exceed our current 90 million.
We'll see.

GLTA, Paul