Avid Bioservices Inc (CDMO)

[RRdog]

Thank you Thurly for your very interesting background research reports. I note you are starting to get very close to my numbers on ORR in 2nd line NSCLC. Hopefully, PPHM will get a good chunk of the increase that is implied by the math.

Thanks again also to FTM for his very good work on systematizing the available data to date. FTM also sounds like he is moving higher in his estimation of ORR in 2nd line NSCLC.

In general, the battlefield seems to be tilting in a way that is favorable to the Bavi platform as a whole. I don't feel the inflection point has been reached yet re the big picture stuff IMO. If that should ever happen it will be very profound. The double blind randomized placebo 2nd line test "may" not only be an inflection point for PPHM but also influence the "big picture" thinking. That would be pleasant.

Regarding some of the large valuation numbers that have been kicked around, anything is possible in the long run if the full Bavi story played out IMO. However, I tend to look at it one critical path step at a time. If the stock were to rise into the 3-5 area it would be tremendously positive for financing and reduced dilution percentage.

Just in my opinion.


Best Regards
RRdog