Avid Bioservices Inc (CDMO)

[north40000]

"This thing trades all over the place....high volume some days, and low volume others and none of it makes a lot of sense..."

That has been true, of late, of all biotechs we own or have on a watch list. CDMO is not alone except it may have fewer PRs and rumors than others. Its Conference slides are nice, but still filled with a lot of generalities about what has been done and will be done.

Yesterday, for example, AMRN traded ~28-29 million shares. Average 10-day trading volume is 7 million. Who was trading that volume and why? Scrips for Vascepa(mostly off-label scrips, IMO) were posted early Friday morning. Message Board discussion was fueled by rumors of various sorts, including mostly rumors of buy-out by NVS or PFE. There was an on-going lipid conference in Portland, Oregon about which I know very little other than Amarin-connected folks made a presentation yesterday AH and AMRN had a booth with handouts. There is a Leerink conference next week. Earnings CC is due. A sNDA will be filed sometime by 3/31/2019 to format results and expanded label discussions/negotiations re Reduce-It clinical trial with FDA. Those results were known last year [11/10/2018 AHA and 9/24/2018 PR]. At least we have reason to believe AMRN will not be a repeat of PPHM and its Bavi Phase-3 trial.

https://investor.amarincorp.com/static-files/ace3d85c-408a-4322-b52c-9e2506f5558b

CDMO will have its better days soon. Our shares of CDMO in IRA are all profitable; the non-profitable shares[far more] are parked elsewhere in other accounts.