Avid Bioservices Inc (CDMO)

[cjgaddy]

Good point, Mojo – it’s a tremendous opportunity to enhance the company, given the right person and the right time. BTW, here was Steve King’s answer to that 12-10-09 Q&A question by Richard Siracusa about the vacant BOD Chairman position left upon Thomas Waltz’s passing in Dec.2008…

SK: “I think when you look at the company, the question is, and what is going to attract investors into the company is, are we positioned to develop our drugs. Do we have the talent internally running day-to-day operations that will make us successful. And, Board representation, we obviously want to add when we feel it’s an appropriate time, members of the Board that will again enhance what we already have in the management team. Our focus has clearly been on day-to-day operations, bringing someone again on our mgt. team like Rob, just adds a tremendous amount of day-to-day operational excellence. I can tell you that the enthusiasm level, the level of progress we’ve made in our regulatory strategy, the difference in our interactions with the FDA, have been just fantastically better with Rob on Board. I think that’s the kind of leadership we’re look for. In addition, we added on Bruce Chabner to our Scientific Resource Board. Again, another individual with just tremendous insight in the drug developments and contacts throughout the industry. So I think, the Board is one level and we’ll of course continue to evaluate that, but if you look at what we’re doing on the day-to-day operations of the company, day-to-day management of both Avid & Peregrine – again, we brought Truc Le on, with tremendous industry experience. I think that’s what’s going to get us there and that’s what’s going to excite people and I think as we move into the New Year, our plan is for us to be out on the road telling the story, not just why we’re excited about the future of the company, but the unique position we’re in with 3 really solid legitimate opportunities to move toward marketable products. The management team, we believe has the expertise to execute on that plan and really the very unique position we’re in with Avid Bioservices. If it wasn’t for our contract mfg. business, we would not be in position to really be a pursuing all these opportunities. So, our feeling is that’s what going to bring the institutional investors into the story because, again, the amount of value we can add over the next few years is potentially astronomical. That’s our goal and we’re going to do everything top to bottom in the company and make sure that happens.”

RS FU: Good. No, I’m very pleased with the progress, so congratulations and let’s move on. Thank you.
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