Avid Bioservices Inc (CDMO)

[Protector]

nuke, indeed we disagree.

If they have already the top people as you say then they must also keep them. Options are a part of that.

NSCLC is not to a halt, it may be delayed but even if it needs to be redone, which is possible but unlikely, we will need the top people and therefor must keep them.

We have 6 other Bavi and one Cotara trial on the way. All remarks I read on those always ignore the fact that Peregrine does not decide alone on timing. A clinical trial depends on events. You can't force people to die to get your MOS event, can't you? The FDA is the Master in that house!

I also can't understand that you write:

I don't see the most important people walking away because they already have a boatload of options and they were starting to get wealthy there for a short period of time (just as I was too). Its my experience that only senior managers place a lot of significance on option awards because they are the only ones who are granted significant amounts to make it worth considering.

What you are saying above is actually that having sufficient options, and therefore indirectly stock, of Peregrine is worth considering. I see no reasons why if this is true for top people in Peregrine it wouldn't be true for us, longs? If Peregrine has nothing then those options/stock will be worth nothing, ever! You cannot make your point by claiming all is going to be good and well with Peregrine when it floats your boat, then in another part of the text say the inverse to float your raft.

I am not going to react to what you have called the insulting part. I am sure it fits your plan somewhere, you possibly don't like pianists.

But since you brought 'insulting' up read this, the mother of all insults:

All these people may or may not have some responsibility for this latest fiasco. Why would you want to award them now. There is no proven performance indicator to justify it. In fact its quite the opposite. What I see is a ton of money spent and total ambiguity as to whether we can salvage anything out of it or not.

They achieved to reach a point where, no matter the discrepancies, we know Bavi works and people's lives are going to be saved! That achievement is certainly something those employees have responsibility in; they made it happen.

It is hard to believe that you suggest that these employees MAY or MAY NOT have a responsibility in that. Of course they have! They are the ones that discovered the discrepancies by analyzing the unblinded data, and discovered them in time for us to get on the break before going for our end PII meeting with the FDA!

But that is not what you are implying, you are implying they may have responsibility in the errors itself while we know for sure that that is the one thing in which nobody at Peregrine can have any responsibility! It was a Double Blinded Clinical trial! If Peregrine couldn't get involved with the Clinical trial because it was Double Blinded then they couldn't either because they ARE Peregrine!

So nuke, I can understand that currently you may be waiting to add at better prices. I see you are on this board and only posting on the IHub PPHM board, so I am not going to categorize you with the noise, I believe you follow Peregrine and in your way are continuously following it and in some way involved.

However, no matter how well I understand and even respect the build up of your reasoning which in a number of cases would be correct, I do not think that applying this 'voting against management advise' is good for us, ALL longs! This is not General Electric that can solve problems by throwing a few billion dollars around. These are people that for more then 10+ years now try to finance a company and keep owning our pipelines and Intellectual Property. No matter what way of financing the price of clinical trials is the price of clinical trials. No way around!

Peregrine is a small cap biotech, high potential versus high risk. It is because the advancement of clinical trials that the high risk diminishes but the risk is still present! You cannot apply the rules of established BP on this company. If you want dividends you'll have to find such established companies and if they don't deliver you can vote against their advice. Here is personally think it is not the correct way to go.