Avid Bioservices Inc (CDMO)

[NoMoDo]

They spent over $30mil on upgrading Avid facilities this year. That includes leasehold improvements, equipment and fixtures.

Those should not be year over year expenses - meaning that if they hold off on trials for a while, it is possible that dilution is a thing of the past now. Blackrock still needs to finish selling their shares, but there are indications that there is buying at the same time.