3-10-20 Qtly CC-Transcript, PR(Q3FY20/qe1-31-20), Avid Revs History Table
*Revs Guidance (FY’20 fye 4-30-20): $55-59M. 10-31-19 Backlog=$58M
*Cash: 1-31-20: $30.7M
*As of 11-30-19: 56,338,143 shares o/s.
*10Q/1-31-20 iss. 3-10-20: https://tinyurl.com/vkocrsg
*Avid Total Revs May03-Jan20: $396.1M
*Avid’s website: https://avidbio.com (A/o 4-30-19, 211 full-time & 4 part-time emps)
This large post has 4 sections:
I. 3-10-20 Qtly. Earnings Conf. Call TRANSCRIPT (FY20/Q3 q/e 1-31-20)
II. 3-10-20 CDMO Press Release: Q3/FY20 Earnings & Developments
IV. Updated Table of Avid Revenues By Quarter (May’06-Current)
III. Updated O/S Shares History Table – 2006-curr.
…Recall: Avid’s FY runs May-Apr, so FY’20 = May’19-Apr’20.
TRANSCRIPT 3-10-20 FY20/Q3 Earnings Conf. Call (q/e 1-31-20):
Rick Hancock(Interim CEO), Daniel Hart(CFO), Tim Compton(CCO)
Q&A Analysts:
Matt Hewitt - Craig-Hallum Capital
Jacob Johnson - Stephens
Paul Knight - Janney Montgomery Scott
Joe Munda - First Analysis
READ the CC Transcript here:
https://www.fool.com/earnings/call-transcripts/2020/03/10/avid-bioservices-inc-cdmo-q3-2020-earnings-call-tr.aspx
Link to webcast replay: http://ir.avidbio.com/events-and-presentations => https://edge.media-server.com/mmc/p/vvmbx7ze
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3-10-20: Avid Bioservices Reports Financial Results for 3rd Quarter FY 2020 (1-31-20) and Recent Developments
http://ir.avidbio.com/news-releases/news-release-details/avid-bioservices-reports-financial-results-third-quarter-1
-- Recorded Third Quarter Revenue of $13.6 Million
-- Signed New Customer and Project Expansion Orders with Current Customers for $20 Million
-- Adjusting Fiscal 2020 Projected Revenue to $55-59 Million
TUSTIN, March 10, 2020: Avid Bioservices, Inc. (NASDAQ:CDMO/:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the third quarter and first nine months of fiscal 2020 ended January 31, 2020.
HIGHLIGHTS SINCE OCTOBER 31, 2019
“During the third quarter of 2020, Avid strengthened both its project pipeline and backlog, and the fundamentals of the business remained strong,” said Rick Hancock, interim President and CEO of Avid. “However, the company faced production challenges during the period related to a problem with a specific piece of equipment which resulted in the termination of in-process manufacturing runs, and the postponement of several other manufacturing runs scheduled to commence during the third quarter. Though we are now implementing the necessary corrections, the temporary production interruption resulted in lower revenue and profits for the third quarter, and we expect it to also impact revenues and profits for the fourth quarter of fiscal 2020. For this reason, we are adjusting our revenue guidance for fiscal 2020 to $55-59 million vs. our prior guidance of $64-$67 million. It is our expectation that this problem will be behind us soon, and as such, we anticipate that the impact will be contained to fiscal 2020. While we are disappointed that this temporary operational setback will negatively impact our fiscal 2020 results, we anticipate that we will be able to recover those revenues in fiscal 2021. We remain optimistic about Avid’s growth potential. Critical to achieving this growth is the continued expansion of Avid’s customer and project base. To lead this effort, we recently welcomed Timothy Compton to the Avid team as our chief commercial officer. During the third quarter, Tim launched the first phase of an aggressive business development campaign. As a result, we signed agreements to add one new customer and multiple additional manufacturing campaigns with existing customers during the period. With respect to operations, we continue to make progress on projects to optimize our existing Myford facility while finalizing plans for its future expansion. We will continue to update you moving forward as these plans progress.”
FINANCIAL HIGHLIGHTS AND GUIDANCE
* The company is adjusting revenue guidance for the full fiscal year 2020 to $55-59 million from prior full fiscal year 2020 guidance of $64-67 million.
* Revenue was $13.6 million for the third quarter of fiscal 2020, consistent with $13.8 million for the third quarter of last fiscal year. For the nine months ended January 31, 2020, revenues were $47.2 million, a 29% increase as compared to revenues of $36.5 million during the same prior year period. The slight decrease during the third quarter of fiscal 2020 can primarily be attributed to a decrease in process development revenue, combined with the impact of the production interruption described above, which were largely offset by an increase in the number of in-process and completed manufacturing runs conducted during the quarter compared to the same prior year quarter. Likewise, the increase during the first nine months of fiscal 2020 was primarily due to an increase in the number of in-process and completed manufacturing runs, a result of growing demand from a more diverse client base, partially offset by a decrease in process development revenue and the third quarter production interruption.
* As of January 31, 2020, revenue backlog was approximately $58 million, an increase of 12% compared to the second quarter of fiscal 2020. The company expects to recognize the majority of this backlog within the next 12 months.
* Gross margin for the third quarter of fiscal 2020 was 6%, a decrease compared to the 15% gross margin for the third quarter of fiscal 2019. The decrease in gross margin for the quarter was primarily attributed to the costs associated with the aforementioned production interruption, an increase in depreciation expense from the acquisition of new equipment, and a net decrease in revenues. Gross margin for the nine months ended January 31, 2020 was 11%, up slightly compared to 10% in the prior year period. This increase was primarily due to an increase in manufacturing runs, partially offset by costs associated with payroll and related costs, higher facility and equipment related costs primarily associated with the production interruption described above, increased depreciation expense from the acquisition of new equipment, and general equipment repairs and maintenance costs.
* Selling, general and administrative expenses (“SG&A”) for the third quarter of fiscal 2020 were $3.0 million, a decrease of 8% compared to $3.2 million for the third quarter of fiscal 2019. This decrease was primarily due to a decrease in accrued bonuses for fiscal 2020, partially offset by an increase in employee separation costs. For the first nine months of fiscal 2020, SG&A expenses were $11.0 million, an 19% increase compared to $9.3 million for the first nine months of fiscal 2019. The increase in SG&A was primarily attributed to employee separation-related expenses and increased stock-based compensation. When excluding the separation-related expenses, SG&A increased by 10% during the first nine months of fiscal 2020 as compared to the prior year.
* For the third quarter of fiscal 2020, the company recorded a consolidated net loss attributable to common stockholders of $3.5 million or $.06 per share, compared to a consolidated net loss attributable to common stockholders of $2.6 million or $.05 per share, for the third quarter of fiscal 2019. For the first nine months of fiscal 2020, the company recorded a consolidated net loss attributable to common stockholders of $9.3 million or $.17 per share, compared to a consolidated net loss attributable to common stockholders of $8.2 million or $.15 per share, for the first nine months of fiscal 2019.
* Avid reported $30.7 million in cash and cash equivalents as of January 31, 2020, compared to $32.4 million on April 30, 2019.
More detailed financial information and analysis may be found in Avid Bioservices’ Quarterly Report on Form 10-Q, which will be filed with the SEC today. [ https://tinyurl.com/vkocrsg ]
RECENT CORPORATE DEVELOPMENTS
* Appointed Timothy (Tim) Compton as chief commercial officer. Mr. Compton has extensive experience in commercial operations, including sales team management, business development, marketing and corporate development. In his new role, he will be responsible for driving the continued growth of Avid’s CDMO business, including the ongoing expansion of the company’s commercial and clinical client base.
* Expanded our customer base with the addition of one new customer and executed multiple project expansion orders with existing customers representing additional revenue backlog of $20 million during the third quarter.
* Advanced planning and design to both enhance our Myford facility, and support its future expansion. These near-term improvements include installing a pharmaceutical grade water system, and upgrading key IT systems and general infrastructure. We expect the installation and validation of the water system to take place in late calendar year 2020 and the IT system enhancements and general infrastructure upgrades to be complete by the end of fiscal 2021.
CONFERENCE CALL
Avid will host a conference call and webcast this afternoon, March 10, 2020, at 4:30 PM EDT (1:30 PM PDT). To listen to the conference call, please dial (877) 312-5443 or (253) 237-1126 and request the Avid Bioservices conference call. To listen to the live webcast, or access the archived webcast, please visit: http://ir.avidbio.com/events.cfm .
ABOUT AVID BIOSERVICES, INC.
Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development, high quality CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 25 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid's services include CGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization. https://www.avidbio.com
Forward-Looking *snip*
AVID BIOSERVICES, INC.
?CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)(In thousands, except per share information)
Three Months Ended
January 31,
Nine Months Ended
January 31,
2020 2019 2020 2019
Revenues $ 13,585 $ 13,781 $ 47,152 $ 36,548
Cost of revenues 12,800 11,731 41,921 32,972
Gross profit 785 2,050 5,231 3,576
Operating expenses:
Selling, general and administrative 2,996 3,242 10,989 9,273
Loss on lease termination — — 355 —
Total operating expenses 2,996 3,242 11,344 9,273
Operating loss (2,211 ) (1,192 ) (6,113 ) (5,697 )
Interest and other income, net 107 9 415 190
Loss from continuing operations before income taxes (2,104 ) (1,183 ) (5,698 ) (5,507 )
Income tax benefit — 44 — 217
Loss from continuing operations, net of tax (2,104 ) (1,139 ) (5,698 ) (5,290 )
Income from discontinued operations, net of tax — — — 739
Net loss $ (2,104 ) $ (1,139 ) $ (5,698 ) $ (4,551 )
Comprehensive loss $ (2,104 ) $ (1,139 ) $ (5,698 ) $ (4,551 )
Series E preferred stock accumulated dividends (1,442 ) (1,442 ) (3,604 ) (3,604 )
Net loss attributable to common stockholders $ (3,546 ) $ (2,581 ) $ (9,302 ) $ (8,155 )
Basic and diluted net (loss) income per common share attributable to common stockholders:
Continuing operations $ (0.06 ) $ (0.05 ) $ (0.17 ) $ (0.16 )
Discontinued operations — — — 0.01
Net loss per share attributable to common stockholders $ (0.06 ) $ (0.05 ) $ (0.17 ) $ (0.15 )
Weighted average basic and diluted shares outstanding 56,404 56,069 56,275 55,949
AVID BIOSERVICES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)(In thousands, except par value)
January 31,
2020 April 30,
2019
ASSETS
Current assets:
Cash and cash equivalents $ 30,687 $ 32,351
Accounts receivable 10,151 7,374
Contract assets 6,111 4,327
Inventory 9,565 6,557
Prepaid expenses and other current assets 763 709
Total current assets 57,277 51,318
Property and equipment, net 26,850 25,625
Operating lease right-of-use assets 20,437 —
Restricted cash 350 1,150
Other assets 302 302
Total assets $ 105,216 $ 78,395
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 5,332 $ 4,352
Accrued payroll and related costs 2,985 3,540
Contract liabilities 26,355 14,651
Operating lease liabilities 1,172 —
Other current liabilities 710 619
Total current liabilities 36,554 23,162
Operating lease liabilities, less current portion 21,584 —
Deferred rent, less current portion — 2,072
Other long-term liabilities — 93
Total liabilities 58,138 25,327
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000 shares authorized;
1,648 shares issued and outstanding at January 31, 2020 and April 30, 2019, respectively 2 2
Common stock, $0.001 par value; 150,000 shares authorized;
56,479 and 56,136 shares issued and outstanding at January 31, 2020 and April 30, 2019, respectively 56 56
Additional paid-in capital 613,323 613,615
Accumulated deficit (566,303 ) (560,605 )
Total stockholders’ equity 47,078 53,068
Total liabilities and stockholders’ equity $ 105,216 $ 78,395
CONTACTS:
• Stephanie Diaz (Investors) Vida Strategic Partners 415-675-7401 sdiaz@vidasp.com
• Tim Brons (Media) Vida Strategic Partners 415-675-7402 tbrons@vidasp.com
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From 10-Q header: “As of Mar 2, 2020, there were 56,482,154 shares outstanding.”
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Latest 10K 4-30-19 iss. 6-27-19 http://tinyurl.com/yxukx6t4 (Cash 4-30-19=$32.4mm)
Latest 10Q 1-31-20 iss. 3-10-20 https://tinyurl.com/vkocrsg (Cash 1-31-20=$30.7mm)
ALL SEC filings for PPHM: http://tinyurl.com/6d4jw8
10-K: “As of 4-30-19, we employed 211 full-time & 4 part-time emps.” (2018: 185/1)
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Updated PPHM REVS-BY-QTR TABLE, now thru FY20Q3(qe 1-31-20), per the 10Q issued 3-10-20.
• Total Avid Revs since May’03: $396.1M
• 3-10-20: FY'20 (May'19-Apr'20) Avid revs guidance $55-59M (committed B/L=$58 at 1-31-20).
• Inventories at 1-31-20 total $9.6M, UP from $7.8M at 1-31-20.
Avid’s website: http://www.avidbio.com
AVID GROSS PROFITABILITY BY QTR: CONTRACT
QTR (1000’s) Rev$ COGS$ Prof$ GP% INVEN$ LIABILITIES*
FY13Q1 7-31-12 4,135 2,024 2,111 51% 5,744 16,280
FY13Q2 10-31-12 6,061 3,703 2,358 39% 5,426 14,721
FY13Q3 1-31-13 6,961 3,651 3,310 47% 4,635 11,790
FY13Q4 4-30-13 4,176 3,217 959 23% 4,339 12,230
FY14Q1 7-31-13 4,581 2,670 1,911 42% 5,679 12,692
FY14Q2 10-31-13 7,354 4,195 3,159 43% 4,033 11,126
FY14Q3 1-31-14 3,885 2,416 1,469 38% 5,224 12,975
FY14Q4 4-30-14 6,474 3,829 2,645 41% 5,530 11,001
FY15Q1 7-31-14 5,496 3,583 1,913 35% 5,998 10,896
FY15Q2 10-31-14 6,263 4,139 2,124 34% 5,379 11,161
FY15Q3 1-31-15 5,677 3,113 2,564 45% 6,148 14,063
FY15Q4 4-30-15 9,308 4,758 4,550 49% 7,354 17,993
FY16Q1 7-31-15 9,379 4,608 4,771 51% 10,457 17,890
FY16Q2 10-31-15 9,523 4,741 4,782 50% 12,554 24,623
FY16Q3 1-31-16 6,672 3,896 2,776 42% 15,189 37,851
FY16Q4 4-30-16 18,783 9,721 9,062 48% 15,189 39,630
FY17Q1 7-31-16 5,609 3,062 2,547 45% 25,274 43,262
FY17Q2 10-31-16 23,370 15,441 7,929 34% 25,924 44,908
FY17Q3 1-31-17 10,747 7,974 2,773 26% 33,829 52,577
FY17Q4 4-30-17 17,904 11,782 6,122 34% 33,099 45,517
FY18Q1 7-31-17 27,077 20,448 6,629 24% 24,235 27,755
FY18Q2 10-31-17 12,782 16,242 -3,460 -27% 16,518 20,611
FY18Q3 1-31-18 6,819 10,951 -4,132 -61% 14,218 24,235
FY18Q4 4-30-18 6,943 8,904 -1,961 -28% 16,129 27,935
FY19Q1 7-31-18 12,589 11,397 1,192 9% 9,168 17,994
FY19Q2 10-31-18 10,178 9,844 334 3% 9,736 17,307
FY19Q3 1-31-19 13,781 11,731 2,050 15% 8,660 14,620
FY19Q4 4-30-19 17,055 13,407 3,648 21% 6,557 14,651
FY20Q1 7-31-19 15,254 14,168 1,086 7% 8,031 18,104
FY20Q2 10-31-19 18,313 14,953 3,360 18% 7,809 22,199
FY20Q2 1-31-20 13,585 12,800 785 6% 9,565 26,355
*7-31-18 10Q: “prior-yr amts related to (deferred revenue
+ cust deposits) now reclass’d as contract liabilities.”
FY13 TOTAL: 21,333 12,595 8,738 41%*
FY14 TOTAL: 22,294 13,110 9,184 41%*
FY15 TOTAL: 26,744 15,393 11,151 42%*
FY16 TOTAL: 44,357 22,966 21,391 48%*
FY17 TOTAL: 57,630 38,259 19,371 34%*
FY18 TOTAL: 53,621 56,545 -2,924 -5%*
FY19 TOTAL: 53,603 46,379 7,224 13%*
*Avid Net-Profit(Selling/G&A) not split out from PPHM-Corp. in the fin’s.
AVID TOTAL REV’s BY YEAR):
FY04 4-30-04 3,039 (Avid-Revs didn’t incl. Avid’s Gov’t work)
FY05 4-30-05 4,684
FY06 4-30-06 3,005
FY07 4-30-07 3,492
FY08 4-30-08 5,897
FY09 4-30-09 12,963
FY10 4-30-10 13,204
FY11 4-30-11 8,502
FY12 4-30-12 14,783
FY13 4-30-13 21,333
FY14 4-30-14 22,294
FY15 4-30-15 26,744
FY16 4-30-16 44,357
FY17 4-30-17 57,630
FY18 4-30-18 53,621
FY19 4-30-19 53,603
FY20 4-30-20 47,152 <=thru Q3 1-31-20
**TOTAL: 396,121 (5/1/2003–1/31/20)
.
QTLY. NET PROFIT/LOSS BY QTR:
(“attributable to common stockholders”; ie, incl. PREF Div’s**)
**2-11-14: PPHM Raises $16.2M, 700k Pref. Shares w/10.5% DIV.
FY16Q1 7-31-15 -15,101,000
FY16Q2 10-31-15 -14,578,000
FY16Q3 1-31-16 -18,227,000
FY16Q4 4-30-16 -13,264,000
FY17Q1 7-31-16 -12,437,000
FY17Q2 10-31-16 -4,498,000
FY17Q3 1-31-17 -9,216,000
FY17Q4 4-30-17 -6,714,000
FY18Q1 7-31-17 -2,647,000
FY18Q2 10-31-17 -14,066,000
FY18Q3 1-31-18 -12,446,000
FY18Q4 4-30-18 +1,578,000 <=includes $9,154,000 income from disc. operations.
FY19Q1 7-31-18 -3,403,000
FY19Q2 10-31-18 -2,893,000
FY19Q3 1-31-19 -2,581,000
FY19Q4 4-30-19 -1,106,000
FY20Q1 7-31-19 -4,606,000
FY20Q2 10-31-19 -1,872,000
FY20Q3 1-31-20 -3,546,000
Period Halozyme ADC-Therap. Coherus-BioSci. Other-Custs
FYE 4-30-14 91% 8%
FYE 4-30-15 79% 9%
FYE 4-30-16 69% 26% 5%
FYE 4-30-17 58% 26% 16%
FYE 4-30-18 55% 9% 22% 14%
FYE 4-30-19 30% 21% 13% 36%
...(cust. splits not given in 7-31-18+ 10Q’s)
- - - - - - - - CDMO’s Fiscal Qtr’s (FY runs May – April):
FY’17-Q1 = q/e 7-31-16 – rep. 9-8-16 Thu (after mkt)
FY’17-Q2 = q/e 10-31-16 – rep. 12-12-16 Mon (after mkt)
FY’17-Q3 = q/e 1-31-17 – rep. 3-13-17 Mon (after mkt)
FY’17-Q4 = q/e 4-30-17 – rep. 7-14-17 Fri (after mkt)
FY’18-Q1 = q/e 7-31-17 – rep. 9-11-17 Mon (after mkt)
FY’18-Q2 = q/e 10-31-17 – rep. 12-11-17 Mon (after mkt)
FY’18-Q3 = q/e 1-31-18 – rep. 3-12-18 Mon (after mkt)
FY’18-Q4 = q/e 4-30-18 – rep. 7-16-18 Mon (after mkt)
FY’19-Q1 = q/e 7-31-18 – rep. 9-10-18 Mon (after mkt)
FY’19-Q2 = q/e 10-31-18 – rep. 12-10-18 Mon (after mkt)
FY’19-Q3 = q/e 1-31-19 – rep. 3-11-19 Mon (after mkt)
FY’19-Q4 = q/e 4-30-19 – rep. 6-27-19 Thu (after mkt)
FY’20-Q1 = q/e 7-31-19 – rep. 9-5-19 Thu (after mkt)
FY’20-Q2 = q/e 10-31-19 – rep. 12-9-19 Thu (after mkt)
FY’20-Q3 = q/e 1-31-20 – rep. 3-10-20 Tue (after mkt)
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“Going Concern” stmt. ELIMINATED from 10-K iss. 7-11-13 (included 2012);
... RE-INSTATED in 10-K iss. 7-14-17 (included 2017 & 2018);
… ELIMINATED again from 10-K iss. 6-27-19 (currently 2019).
CASH a/o 1-31-14: $63.2M
CASH a/o 2-15-14: $79.7M
CASH a/o 4-30-14: $77.5M
CASH a/o 6-30-14: $78.3M
CASH a/o 7-31-14: $73.3M
CASH a/o 10-31-14: $64.4M
CASH a/o 1-31-15: $55.2M
CASH a/o 4-30-15: $68.0M
CASH a/o 7-31-15: $59.0M
CASH a/o 10-31-15: $72.0M
CASH a/o 1-31-16: $67.5M
CASH a/o 4-30-16: $61.4M
CASH a/o 7-31-16: $44.2M
CASH a/o 10-31-16: $49.5M
CASH a/o 1-31-17: $41.5M
CASH a/o 4-30-17: $46.8M
CASH a/o 7-31-17: $37.3M
CASH a/o 10-31-17: $27.7M
CASH a/o 1-31-18: $17.9M
CASH a/o 2-28-18: $41.7M
CASH a/o 4-30-18: $42.3M
CASH a/o 7-31-18: $37.5M
CASH a/o 10-31-18: $32.7M
CASH a/o 1-31-19: $27.8M
CASH a/o 4-30-19: $32.4M
CASH a/o 7-31-19: $28.9M
CASH a/o 10-31-19: $34.0M
CASH a/o 1-31-20: $30.7M
CDMO - O/S Shares History (’06–curr.)
Click here for 4/30/06–12/8/16 Peregrine Pharm. share history: https://tinyurl.com/y76cbyt5
**PPHM shares were 1:5 R/S eff. 10-19-09 (~237mm/$.64=>~47.4mm/$3.20) http://tinyurl.com/ykuw588
**PPHM shares were 1:7 R/S eff. 7-10-17 (315mm/$.606=>45mm/$4.24) http://tinyurl.com/ycohqn6j
1-31-17: 271,068,464 +13,926,930 (1-31-17 10Q iss. 3-13-17)
3-10-17: 297,709,478 +26,641,014 (“ “ “)
4-30-17: 44,014,040(x7)=308,098,280 +10,388,802 (4-30-17 10K iss. 7-14-17)
7-10-17: 45,069,188 +1,055,148 (“ “ “)
7-31-16: 45,094,154 +24,966 (7-31-17 10Q iss. 9-11-17)
8-25-17: 45,096,081 +1,927 (8-25-17 Amended 10K http://tinyurl.com/yb5jq7vc )
9-6-17: 45,096,081 nochg (7-31-17 10Q iss. 9-11-17)
10-31-16: 45,172,632 +76,551 (10-31-17 10Q iss. 12-11-17)
11-27-17: 45,210,608 +37,976 (14A/Proxy iss. 12-7-17 https://tinyurl.com/y7qprpg9 )
12-6-17: 45,212,760 +2,152 (10-31-17 10Q iss. 12-11-17)
1-8-18: 45,253,038 +40,278 (2-8-18 13D https://tinyurl.com/ya43sc3r )
1-31-18: 45,257,180 +4,142 (1-31-18 10Q iss. 3-12-18)
...2-20-18: Avid Raises ~$21.8M net, selling 10,294,445sh.@$2.25 (underwriter: Wells Fargo)
…... 8-K: https://tinyurl.com/ya3nenth 424B5: https://tinyurl.com/ycpshgxl
3-7-18: 55,552,233 +10,295,053 (1-31-18 10Q)
4-30-18: 55,689,222 +133,989 (4-30-18 10K)
7-10-18: 55,793,107 +103,885 (4-30-18 10K)
9-5-18: 56,001,456 +208,349 (7-31-18 10Q)
10-31-18: 56,063,488 +62,032 (10-31-18 10Q)
12-3-18: 56,067,867 +4,379 (10-31-18 10Q)
1-31-19: 56,072,291 +4,424 (1-31-19 10Q)
3-4-19: 56,074,509 +2,218 (1-31-19 10Q)
6-14-19: 56,137,724 +63,215 (4-30-19 10K)
8-31-19: 56,237,674 +99,950 (7-31-19 10Q)
11-30-19: 56,338,143 +100,469 (10-31-19 10Q)
3-2-20: 56,482,154 +144,011 (1-31-20 10Q)
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