Avid Bioservices Inc (CDMO)

[Wildhorses]

Nighttrain20,

"The point is the A**F***ing everyone took."

Thing is, if you didn't sell your investment club shares (and I can't imagine why you would have if you haven't done it by now), you didn't take an Adam Feurstein. In fact, if you took the opportunity to load up, you would no longer have a $35/sh ave. Just saying. BTW, ask Jessme where TerryGD is. He knows.

My beliefs:

1. Bavi works against many cancers.
2. A partnership is being worked on as we wait (some patiently, some not so).
3. A partnership will encompass all bavi cancer indications, not just nsclc.
4. A partner will be on board before the FDA end-of-phase II meeting.
5. As Bungler, FTM and others have expounded, 2nd line nsclc numbers for 3 mg leg will be stellar compared to the combined placebo and 1 mg control arm as well as all previous control arms for docetaxol trials.
6. Phase III will include the two arms as RRdog has suggested. Just makes sense - treatment wise and economically.

Partnership question for the board to try something new. Let's assume a bavi partnership is struck for all solid tumor cancers and PPHM earns separate milestone payments for FDA approvals in each cancer indication. Just one way a partnership might be structured. If it were to end up this way, should PPHM receive the milestone payment if bavi were used "off-label" in another indication, say breast for instance? Sure, PPHM would want to receive the royalties and wouldn't want to stand in the way of helping patients. But, does "off-label" use equate to earning a milestone award that based on FDA approval? Just something to ponder as you guys all put on your dealmaking hats.

Regards,

WH