Avid Bioservices Inc (CDMO)

[stockaxe]

I do not believe they need financing. They already had an extra roughly $90mm from the convertible offering (net of the proceeds for the Myford expansion). They will also generate a significant amount of cash flow in the next 18 months. The 7/31/21 balance sheet showed $159mm of cash. With this $70mm and probably another $45mm remaining on Myford north and south, they have plenty of cash...and that is before the cash flow generated.

HGEN would be nice because I'm sure people would view it positively, but I don't think it is all that positive or negative (if they fail). I do expect the next backlog report to show significant growth because Nick basically alluded to that on the conference call. Said differently, I think they are winning a lot of decent business that has nothing to do with HGEN.