Avid Bioservices Inc (CDMO)

[Bungler]

FYE 2004 - Here is what we had in the pipeline when we were valued at $339 Million:

(1) Cotara™ Brain Cancer - Registration trial protocol was approved by the FDA in February 2003

(2) Cotara™ Colon Cancer - Phase I

(3) Tarvacin™ Various Cancers - Preclinical
Eye Disease - Discovery
Viral Disease - Discovery

(4) 2C3 - Cancer - Discovery

(5) Vascular Targeting Agents(VTA)– Cancer - Discovery

(6) Vasopermeation Enhancement Agents(VEA)- Cancer - Discovery


2004 Revenues - $3,314,000
2004 Cash on hand - $14,884,000

Compare the above (valued at $339 Million) with the pipeline, clinical data, revenue and cash today (valued at $189 Million).