Avid Bioservices Inc (CDMO)

[bfiest]

I thought the call was positive. It makes sense to be proactive at this time with such a shut down. He seems to be managing the process properly getting all pieces in place prior to delivering new and bigger contracts. I would not be surprised that the specifics of what was necessitated in this shut down was addressed by any potential new customers prior to signing on the dotted line. It all takes time and I expect new contracts to be announced soon after the first of the year. Beating earnings while missing on revenues likely because of issues addressed during shutdown indicates they are managing the daily operation efficiently. I also liked that they are taking the tough questions on the call. These guys are gaining my trust with the caveat that we must see more signed contracts soon. Completely different approach from the previous group. Not even close at this point anyway. These appear to be real business managers. Still early to come to any definitive conclusion. But you have to like what you see to this point.