Avid Bioservices Inc (CDMO)

[Big On Tarvy]

MM,

I am also frustrated, but more by the delay than the share price, which will be irrelevant when Ph IIs start. I expect to have some conversations quite soon. In the meantime, here is what I know (or think I know) from other good sources:

1. The $30 million needed to fund Phase II trials and ongoing operations WILL NOT come from a PIPE or other deal that results in near-term dumping of shares on the market.

2. THE CLINICAL TRIAL PROGRAM IS NOT IN TROUBLE. There will be multiple Ph II trials starting soon -- hopefully/probably this summer. It just takes a long time for the Company and its advisors to agree on the best possible dosing schedule and protocol, and then the big egos on the hospital review boards want to re-visit everything and put their own stamp on it.