Avid Bioservices Inc (CDMO)

[bfiest]

When they reported last quarter on Dec. 7th Nick said that he thought the last 2 quarters of 2024 would be similar in gross sales to the best 2 quarters in the company history — the last 2 quarters of 2023. The third quarter 2023 gross sales were 38 million. The fourth quarter gross sales were 39.8 million. He was pretty well into our next reporting quarter when he said that. I have to believe visibility was pretty good. He also stated they had 8 products up for PPQ which then will be submitted to the FDA for BLA. Of course each has a different profile — timeline — potential market size etc. but several of those approvals could really set them up nicely in the relative short term for the long term. As everyone knows they already have one approval. In pretty decent shape really. It’s the time that’s most frustrating.