Avid Bioservices Inc (CDMO)

[RRdog]

JJPK,

I would not put much stock in what you pick up in the twitter universe even though any thing is possible if you look at the time line of the trial which started in Jan 2011. The good news is that Pancreatic is such a tough indication I don't think much positive value is built into PPHM for this disease. Anything superior to THLD results re MOS might be interpreted very bullishly for PPHM.

I would however, note that the language regarding Cotara is becoming more precise re: "optimal registration pathway" with the FDA as opposed to (and I paraphrase) "well defined protocol".

IMO the data on first line NSCLC is not expected to be great because of the anomaly in the control arm stats. I think PPHM shareholders could be positively surprised here. The ratio of the treatment arm to control may not be as great as in second line but, still could be quite good. MOS numbers might be very good compared to all other prior tests in first line. Such a result would also be very supportive of PPHM second line efforts.

Best Regards,
RRdog