Replies to post #132191 on Avid Bioservices Inc (CDMO)

[Frustrated]

If they really thought BAVI was 2-3 years away from approval due to having to run the complete Phase III why would you make those kinds of statements?

Are you joking? Go back and read every CC transcript for the last couple of years and you will see the same statement about reserving AVID for commercialization. Geez. BTW SK stated that the goal was to have a commercial product by June 2012! All imo.

[InternetForumUser]

Is this the reason that AVID has grown to support the manufacture of Bavi, because if they didn't, they would have to pay Lonza?

In fiscal year 2011, we incurred a milestone fee of 37,500 pounds sterling ($64,000 U.S.) upon commencement of patient enrollment in our first randomized phase II clinical trial using bavituximab, which amount would continue as an annual license fee thereafter until completion of patient enrollment, at which time the annual license fee would increase to 75,000 pounds sterling per annum. During fiscal year 2012, we completed patient enrollment of the aforementioned phase II clinical trial, which triggered the annual license fee to increase to 75,000 pounds sterling per annum (or approximately $122,000 U.S. based on the exchange rate at April 30, 2012). In addition, in the event we utilize an outside contract manufacturer other than Lonza to manufacture bavituximab for commercial purposes, we would owe Lonza 300,000 pounds sterling per year (or approximately $488,000 U.S. based on the exchange rate at April 30, 2012)

[chenzo11]

Those that didn't think there was significant material information in the call must have been listening into a different conference call than I did!

"Nothing that will move the needle"