Avid Bioservices Inc (CDMO)

[keep_trying]

Abe, When ES bought shares a year or so back in increments of 50,000 or so, it didn't do anything for the pps.

PPHM doesn't have enough authorized shares left to do anything major in terms of leveraging a pharma deal or to do another private investor funding. I think PPHM needs to reload their capitalization options to assure they can continue any pharma negotiations from a position of strength. That means a line item in the proxy for the October SHM and speculation that could drive down pps while waiting. Although the $44.5 million government contract could let PPHM squeeze through a year, I doubt PPHM will risk leaving the matter to the last moment. If PPHM doesn't ask for more authorized shares in the SHM proxy, that would be telling shareholders that PPHM management think they already have financing going into 2009 covered.

Best wishes and IMO.

KT