Avid Bioservices Inc (CDMO)

[eb0783]

Gentlemen and ladies: I'm sorry that you don't "see" the very clear opinion of the Ronin group (or the opinion they are attempting to make us believe). In MY OPINION, I have easily equated the many statements they made about the value of our PS Targeting as "worthless" = a "waste." As a reminder to you I have listed below SOME of the words they have used in their two letters to describe bavituximab.

clinical failure
unsuccessful (repeatedly stated)
disappointing results
poor performance
evidence against bavituximab is clear
has not produced any statistically significant results
failed clinical development
squandering additional capital
high risk clinical development
profligate spending on risky clinical development
it is questionable whether any further spending on its development is warranted
must immediately cease all clinical development

As mentioned before, John Steinbeck wrote about people like this (giving their opinion of the value of your asset) in THE PEARL.