Avid Bioservices Inc (CDMO)

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For quite sometime now GSK has run a successful business model where they maintain a cGPM facility for their own products, and then sell the excess capacity for contract manufacturing. This allows for extreme flexibility as the company has two potential sources of revenue for the facility, and it can always convert the excess capacity back to company use as client contracts expire. King appears to be working from a similar playbook. Quite brilliant, IMO.

On top of that they made from fully owned subsidiary Avid Biosciences BOTH a strategic tools, a money safer for PPHM clinical & research and a REVENUE generator with 50+% gross margin, on 3rd party contracts.