Avid Bioservices Inc (CDMO)

[realist1]

Another PR, another vote of ZERO confidence from only one that matters - Mr. Market.

Finally (I hope) we can put to rest the issue of AVID.
It is NOT a growing business. it WAS (keyword = WAS) a growing business.
Growing businesses DO NOT reduce headcount, they increase headcount to handle additional business.

"Personnel supporting the Avid Bioservices CDMO business, a wholly owned subsidiary of Peregrine Pharmaceuticals, was reduced by 20% to 184 employees to align operations with the reduction in forecasted revenues."

Right from the companies own mouth.

Point 2: This is small reduction - too small - which is why the market does not like it. PPHM lost ~$13 million in the past 6 months.
The announcement is for about $7 million per YEAR.
That's approximately 1/4 of the losses.

Cash burn continues.
Failed team continues.
Dilution need continues.
Stock price decline continues.

Ronin is the ONLY hope.