Avid Bioservices Inc (CDMO)

[keep_trying]

Threes, in the process you describe, long shareholders need to recognize that control of the company is being sought by a hedge fund group that already communicated to PPHM shareholders their intention to halt development of PPHM proprietary technology. The PPHM track record already has shown long investors that a professional services company (CSM) mislabeled trial doses administered to patients, compromising the trial control arm sufficiently to preclude achievement of trial design objectives. PPHM regrouped from that trial "disaster" by combining the lower Bavi dose group with the control group and comparing results with the 3 mg/kg Bavi dose arm. In turn, Bavi compared to lower doses of Bavi performed well and follow on trials could proceed. Recent communications on this message board summarizes the more recent developments with tech development.

Now Board compensation is being leveraged to take control of the PPHM proprietary tech without paying for it in a way that allows long time long shareholders to participate in reaping the benefits of what they helped fund. I view tabling of the proprietary PPHM tech development as being a bigger threat to my long held investment than watching the current Board cope with having to pay back $1.5 million to PPHM and have their compensation pared back to be pegged at 75% of peer Pharma compensation to Directors and so forth.

The taking of control of a company I am invested in by a hedge fund group who established their holdings under circumstances much influenced by "insider" knowledge events has me being very vigilant of intent and ulterior motives or agendas. So far Ronin has identified developments already in progress as being cause to align my proxy support. I want to see accountability for the disposition of the PPHM proprietary technology in the event the three new Board nominees are elected before I cast my vote. Citing details in the Delaware Settlement Agreement does nothing to show what Ronin selected Board members will do with the PPHM technology.

Best wishes and IMO.
KT