IMO the most influential piece of information that came out of this call was the fact that another big pharmaceutical company has signed on. These big pharmaceutical companies do detailed due diligence and make decisions based on capability, regulatory track record, future direction and long term viability. It is a huge vote of confidence to have another large pharma contract with Avid and the investing community knows it. It is a very sticky business and no company, especially a large highly successful company, wants to sign on with a cdmo that has any chance of potential failure short or long term. It is very difficult for drug companies to have to change course and start all over with another CDMO. It’s a very strong vote of confidence for the future of Avid and the investing community sees it. They still have a long way to go but it is a viable start.
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