Avid Bioservices Inc (CDMO)

[Thurly]

Of course mgmt does not care because they are not the ones being diluted. It amazes me that this has gone on another two years! Heads should be rolling!

How do you know that they haven't maximized the financial benefit of AVID despite its not being profitable? And isn't that their current strategy as stated in the last several CCs? Wouldn't you prefer them to look at their businesses as part of a whole with an overarching corporate strategy? If the strategy has changed since 2008, why do you assume that it has changed for the worse? A lot has happened -- a lot changed -- since that CC in 2008.

This stock is what it is at any given moment -- and at this moment, it's hugely speculative. IMO, you're most likely looking at dilution for the next four years.

There are catalysts that could change that: A Cotara partnership (or anticipation of a partnership) after a successful PII could help us by 2013. Partnering Bavi ROW after successful PIIs could help. The animal studies in anti-viral could help in a couple of years. Additional government contracts are possible. A buyout is possible... But, not counting chickens, dilution until 2015.

We have a lot of science we're trying to advance clinically with very little money. We have nothing in PIII.

The entire management and corporate strategy has changed since Garnick & Co. came on board. Why would you want to hamstring the company with a old 2008 strategy when, since 2009, they've gotten more experienced management in place and obviously improved their strategic plan?

I hope they always have the flexibility to go with their best strategy at any particular point in time if it maximizes my long-term return.