Avid Bioservices Inc (CDMO)

[keep_trying]

Jazz, The 12 million share shift in short interest between June 15, 2007 and July 13, 2007 reporting can be explained by shorting in anticipation of the Russell rebalancing. The drop in institutional shares accounts for the shift.

Then, after months of fairly steady short interest, there is that anomoly of a 3 million share drop in short interest between April 15 and April 30, 2008 that would have reflected new developments in April. The only thing that shows for PR announcements at that timing is the four presentations at the AACR.

From the PRs:

-- "Targeting mutant p53 protein and tumor vasculature: An effective combination therapy for advanced breast tumors" (Abstract #2341, New Targets 1: Mechanisms Session) - Poster session scheduled for Monday, April 14, 2008 from 8:00 am to 12:00 pm.

-- "An immunocytokine that binds to phosphatidylserine generates an effective cell-based tumor vaccine in mice" (Abstract #2841, Tumor Vaccines Session) - Poster session scheduled for Monday, April 14, 2008 from 1:00 pm to 5:00 pm.

-- "Combination of a monoclonal anti-phosphatidylserine antibody with docetaxel strongly inhibits the growth and metastasis of hormone-refractory prostate cancers in mice" (Abstract #2551, New Approaches to Biological Therapy Session) - Oral presentation scheduled for Monday, April 14, 2008 at 2:10 pm.

-- "Antibody targeting of phosphatidylserine produces a cytokine microenvironment that enhances innate anti-tumor immune responses" (Abstract #4079, Immunoconjugates, Peptides, and Protein Therapeutics Session) - Poster session scheduled for Tuesday, April 15, 2008 from 8:00 am to 12:00 pm.

Abstracts and information about the AACR and its Annual Meeting may be found at http://www.aacr.org/.


Did that AACR news cause shorts to decide to cover or is it anticipation of follow on events in "upcoming months" (or both)?

Best wishes and IMO.
KT