Avid Bioservices Inc (CDMO)

[chenzo11]

dragging the share price down by using the ATM and not releasing PR's while they are hitting the ATM. All imo.

17mil shares were sold via the ATM at $1.75. We closed Friday at $1.83. That's a 4.5% increase over the ATM sale.

Although a 4.5% increase is nothing to jump up and down about, it is impressive when combined with the fact that the ATM usage diluted the outstanding shares 10%.

Chartwise, we are in the "safe zone" (1.65-1.86). Volume was good not great; not enough to push us into the next level and test $2.05. Lets see if volume increases Monday in a positive way. If so, we can test the $2.05 resistance.

Good Weekend All

Chenzo