Avid Bioservices Inc (CDMO)

[peregr]

I'll admit, I'm in the minority here, but from my perspective:

We now have 7 very qualified Board members

Ronin clearly stated in their SEC filings there would be an auction of the IP for partnering or sale

Ronin spent 2 years researching the Company and invested their own capital. That a breadcrumb deal would be accepted by professional money managers and business people was an argument proffered by those who did not want a change in the Company

All press releases clearly state:

Peregrine is pursuing the licensing or sale of its proprietary R&D assets, including its lead immunotherapy candidate, bavituximab, which is currently being evaluated in clinical trials in combination with immune stimulating therapies for the treatment of various cancers.

Finally, Lias is presenting at the Bio Showcase Conference to provide an update on the business strategy.

How it can be considered that a deal under the cloak of darkness is being pursued, is not correlated with the above facts. The above are all statements on file with the SEC.

Investors will be disappointed who believe in the astronomical value message, but I am more concerned with this desire to publically go forward with all the mistakes of the legacy company and the impact it could have on the share price.

Everyone is free to write whatever letters they want- but be aware of the law of unintended consequences.