Replies to post #100545 on Avid Bioservices Inc (CDMO)

[PPHMownsME]

This has been the issue in the past. It's always been assumed that the ATM selling in to rallies is why we could never hold gains from news.

The market would sure like for the company to come right out and say that bad boy is off.

SHUT'ER DOWN!

[EYEBUYSTOX]

I'm basing it on an educated guess I've made after studying the trading patterns of the stock and the presence of 4 decimal point trades that were present when the aforementioned "lid" was on the stock before PPHM announced they were in the process of securing funding through a loan. When they announced that a loan was in the works and that there was no need to go to the capital markets (a.k.a. no more ATM), the stock traded normally with .01 bid/asks until Black Monday. Ever since, it's been the same old 4 decimal point bull $heet. It's my belief that this is the ATM at work.

[corporalagarn]

I don't think the ATM is continuously running. The company had the opportunity to say the ATM is turned off, like they did when they got the original $15mm loan proceeds, and they didn't say it. Leaves uncertainty, which is not good. Unless they are spending a lot of money on legal fees and the f-up research, they should be good until April or so, then they would be looking for more money. Avid may be improving, but it is no where near enough to cover cash burn. And like I said, they may have expenses now that they didn't have six months or a year ago. Not sure if cash burn is still $7mm per quarter.