Avid Bioservices Inc (CDMO)

[RRdog]

"Res ipsa loquitor"--an expression as old as the latin--"the thing speaks for itself".


The action is two way in PPHM and continues on down days. Not only does the offer side refresh but now the bid size refreshes even larger.

I have no inside look here but, I thought the key word in the Roth announcement was that they would "host" a meeting in Boston.
"Host" is the kind of word you use when you are giving a party not having a meeting. So my take was that PPHM was presenting privately to a number of institutions that were east coast based.


The only seller that makes sense at this level is the atm (nobody is crazy enough to naked short a $1 biotech with this story into this kind of buying). The only buyers at this size (after long PPHM underperforming history) would be informed institutions. "The thing speaks for itself".

It is always difficult to posit any PPHM scenario that makes classical investment sense but,IMO I would guess PPHM moves cash up to or above 20mm through ATM, there is some news or multiple releases, the price moves up, and then a more formal financing. Institutions average price will be $2-3/share.

IMO still need a minimum of $1.10 very short term to confirm even the slightest uptrend. Longer term these numbers are meaningless next to the scientific achievement if proven.

Would not pay too much attention to couple of penny moves. Instead would focus on the larger picture.

Just a guess
RRdog