Avid Bioservices Inc (CDMO)

[north40000]

WE have experienced on PPHM board what Smith says, in the form of the daily presence of negative naysayers. It is a fact of life for those invested in small companies---I see it daily on the ~200 small companies we are invested in or have on a watch list, a drop in the bucket of the universe of small companies that are available for investment. Some companies do fail---we have a couple that did enter BK. Others succeed, notwithstanding above, like ASTM/OCAT where we accumulated, over a period of years, 4 million shares. After a RS of 1 for a 100, and a new basis of ~ $6.00/share, our 40 k shares were acquired by Japan's Astellas for $8/share, under valued, IMO.

The reason? Its stem cell R&D, none of which then had FDA-approval. Take a look here what OCAT's CSO had in mind in 2015:

The story should sound familiar....MEDX suffered the same fate before its acquisition by BMY. So did Amylin, before its acquisition by BMY/AZN in an auction process in which 5 companies participated. IMCL would have a similar story to relate.