Avid Bioservices Inc (CDMO)

[AugustStockInformer]

Old interview with the CEO kind of interesting:

https://www.twst.com/interview/steven-king-peregrine-pharmaceuticals-inc-pphm?rd=i1

TWST: What function does Avid Bioservices serve? Is this a vehicle where
the company can generate revenues while you progress along with thetrials?

Mr. King: Avid Bioservices, a wholly owned subsidiary of Peregrine, is a contract manufacturing business focused in the area of biologics. Avid’s primary services revolve primarily around monoclonal antibody production and production of other biologics. We run Avid as a separate business.

They provide all of the manufacturing services for Peregrine, but they also provide services for other biotech and pharmaceutical companies.

And yes, Avid is a mechanism by which we can continue to provide support for Peregrine as well as cash for the company. Currently, though, we expect Avid to be self supporting and excess cash flow from that business will be used to create growth in the contract manufacturing business.