Avid Bioservices Inc (CDMO)

[geocappy1]

RRdog

Very logical points. Here is one more from the gut piece of logic to add.

Not only did Oxford, Midcap Financial, and Silicon Valley Bank make the loan to pphm at a reasonable interest rate, they chose to take a fee in the form of warrants. It is not unususal (we have seen it 1st hand) that a lender would want an up front fee in addition to their interest rate, however, after reviewing all the info presented to them they chose to take their fee in the form of warrants. Having seen many loans with large up front points paid I would call the fee in the form of warrants an investment in pphm's upside.