Avid Bioservices Inc (CDMO)

[peregr]

Oncologie will be presenting at the Morgan Stanley Global Healthcare conference. From the PR:

Bavituximab is an investigational antibody that reverses immune suppression by inhibiting phosphatidylserine (PS) signaling and is currently in Phase 2 clinical trials to treat a specific subset of patients with advanced gastric cancer to improve their response to anti-PD-1 treatment. The mechanism of action of bavituximab is to block tumor immune suppression signaling from PS to multiple immune cell receptor families (e.g., TIMs and TAMs). The dominant biology targeted by bavituximab may be relevant for patients with many types of solid tumors whose immune systems are too suppressed to benefit from currently available immune oncology therapies. Our clinical trials currently combine bavituximab with Keytruda (pembrolizumab) to test the hypothesis that relieving immunosuppression can enhance responses to checkpoint inhibitors. Preliminary efficacy and biomarker results are being presented at the ESMO conference in September. Results from this trial will inform future clinical development for this program including the potential for registration trials.

There was also a paper released on the glioblastoma trial in May at ASCO.

With the deferred revenue from Q4 into Q1 and some increased guidance from the last 2 small contracts, CDMO should be closer to breakeven or better which would put the Company on a trajectory to double digits.