Avid Bioservices Inc (CDMO)

[corporalagarn]

CP, the facts are that the management team failed again and were forced to change course. Avid is their only viable option at this point. Cotara failed, Bavi failed and the Dios deal didn't pan out. If they can generate sales of $60m and cut R&D to about $0, they can break even. What a rousing success that would be. Based on their history of failure, I'm not even sure they can do this. They put in a two year plan to profitability and proceeded to miss their first quarter revenue projection by 50%. Tough start. I honestly don't understand where this confidence in management comes from. Is it their success so far with this company, down 95%? Maybe it's their successes at Patriot Scientific, Ecotality, and the other pink sheet company that they ran into the ground. After all, these are the stated reasons that CJ is qualified to be COB. Their one moderate success has been Avid. The plan for Avid was to mass produce Bavi once it got approved. Oops.