Avid Bioservices Inc (CDMO)

[pphmtoolong]

IMO no point complaining about compensation at Peregrine for two reasons. First, we have no realistic control over it, and second, it likely has no bearing on the ultimate success of Peregrine. The important thing is whether the company is moving in our direction. Are they moving Bavi forward effectively and as quickly as resources permit? From the distance we see things, I think they are achieving progress.

It would be very reassuring if Peregrine management could give us more information on the partnering process. However, in view of how little they are saying, I'm afraid what they can tell us would be discouraging. Not because they aren't trying to get a good deal, but because there is no good deal at this time. I suspect they need more data from the clinical trials or even the new pre-clinical trials to shake loose the kind of deal we want.

My window for a solid deal has moved into early-mid next year. I am not at all happy with this, but it is my feeling that the stars won't be aligned until then. I would love to be wrong, and maybe we will get a deal tomorrow. Who knows?

GLTA, Paul