Avid Bioservices Inc (CDMO)

[eastcoastguy]

You can certainly parse the parts of the CC you think favors your argument. Yes it was a bad quarter!

Last quarter they forecasted and reaffirmed 60-65M for FY2017. That was 90 days ago. You parse data from a year ago to say they exceeded their 50-55M projections.

On top of that they forecast no growth moving forward for FY2018. Really! This for a crew that last quarter crowed about all the growth and expanded facilities they would need.

Now lets go to the "we are looking into splitting the 2 divisions". You state that the BAVI company would be financed by Exosomes sales. Where did you get that in the CC. They stated they are testing, far from a partnership or sale. There is no revenue coming from exosomes in the near future to support a split off PS/Bavi company. That is just a wish to support your argument.

We have the history of this board and management to compare to John Staffords investment and nurturing of Xencor. Look at the corporate governance statement for Xencor. Look at the development and value creation at Xencor and then look at our history. Have we ever, ever, had a CC where the SP increased after the CC. Has it ever happened?

ES and his cronies have been self dealing for years. They certainly are not aligned with us. Many on this board own more than our BoD.

My hope is the DS settlement falls apart and a renewed effort to bring these bums to justice. How you can support the current regime is mind blowing.

I would like to see another letter from Stafford refuting managements letter and the abysmal results for the quarter.

In since 2004 and I've finally had enough of these incompetent self dealing bums.

eastcoastguy