Avid Bioservices Inc (CDMO)

[biopharm]

Is it possible that the non-disclosure agreements that Peregrine and BP's have while during talks may be used to Peregrines advantage after talks break down with "one" of the BP's as follows:

Steve King: "...we would like to thank our shareholders for having the patience for standing by what we believe is going to change the oncology paradigm and how our lead drug candidate...Bavituximab....will lead the way as the new standard of care for thousands of cancer patients. Peregrine remains to work day and night to select the best partner that will ultimately benefit all shareholders involved, but ultimately to benefit the patients in the doctors office with a much greater medical need. We have unfortunately been unable to move Bavituximab along with the assistance of a partner due to the extreme circumstances of placing a proper value on the Bavituximab program. Currently, we have closed discussions with several BP's....as their final offers did not meet Peregrines value we have projected for the great future of Bavituximab. We are currently still negotiating with several other BP's which we are still under nondisclosure agreements. In light of those details....we have been in contact with a major investment bank that has viewed our previous offers from BP's where we have rejected those offers and they are offering us favorable rates, terms and full confidence that our Bavituximab platform will be more than sufficient for a $350 loan to move the
Bavituximab platform forward. We maintain our first priority is to partner ...and we believe that the Bavituximab platform will be valued favorably to all shareholders at Peregrine and will bring substantial value to the shareholders of our Partner due to ability and diverseness that Bavituximab possesses."....

I hope they dont wait till the ASM to say something similarin to this.... also hope they leak out something in the press (before ASM) that will speed up BP talks.....just as they leaked out info on the Conference Call regarding meetings with BP's