Avid Bioservices Inc (CDMO)

[RRdog]

Epilog to my previous technical comments:

PPHM actually went through my $1.90 price objective but it was more like floated through the number with no volume confirmation in what was until today an extremely strong market background.

What is clear from this IMO is the tremendous pressure the stock bears from the ATM. After the quarter ended so there was no balance sheet advantage to be gained for the CC IMO and in the window in time to several weeks after the CC there is really no natural seller against the overall scientific value creation and discounted present value.

If there were to be any real good fundamental news in this time frame and volume were to come into the stock IMO it would move substantially higher on a percentage basis but, that is a big if.

What is increasingly clear IMO is how undervalued this scientific portfolio is because of the corporate financing posture. I still look forward to a change in this posture re alternate means of financing or partnering. IMO this will unlock the real value of the overall scientific achievement.

IMO I would not worry about all the detracting comments based on past stock performance. When the value is unlocked it can come in the form of a huge percentage change in a very short period of time.

Good Luck
RRdog.