It's a "red flag" that they don't want King, a lab guy who has already been replaced as president of Avid by his own people, to run a CDMO? That's weird.
At this point they may have an ace in the whole like a partner or buy out, this scenario is becoming less viable as time draws near to the ASM. The real reason for the delay IMO is to grab whatever money they can before being shown the door. 125K per quarter is not chump change.