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Avid Bioservices Inc

Avid Bioservices Inc (CDMO)

6.87
0.07
( 1.03% )
Updated: 10:21:08

Calls

StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
2.504.104.503.904.300.000.00 %07-
5.001.701.951.761.8250.000.00 %01,325-
7.500.170.100.170.1350.000.00 %02,952-
10.000.050.100.050.0750.000.00 %01,030-
12.500.100.750.100.4250.000.00 %08-
15.000.320.750.320.5350.000.00 %02-
17.500.400.750.400.5750.000.00 %01-
20.000.010.050.010.030.000.00 %089-
22.500.000.750.000.000.000.00 %00-

Puts

StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
2.500.000.050.000.000.000.00 %00-
5.000.190.350.190.270.000.00 %0357-
7.500.600.800.700.700.000.00 %0239-
10.003.003.303.103.150.000.00 %0125-
12.505.505.800.005.650.000.00 %00-
15.008.008.300.008.150.000.00 %00-
17.5010.5010.900.0010.700.000.00 %00-
20.0012.9013.300.0013.100.000.00 %00-
22.5015.5016.700.0016.100.000.00 %00-

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CDMO Discussion

View Posts
Preciouslife1 Preciouslife1 3 hours ago
DRUG SHORTAGES AT ALL TIME HIGH ….

Finding just what the doctor ordered is getting increasingly difficult as more and more prescription drugs become scarce.
From household names like Adderall and Ozempic to cancer treatments, a record 323 drugs were in short supply during the first quarter of 2024, the American Society of Health-System Pharmacists (ASHP) reported recently. The ASHP, which has published the metric since 2001, says the number of hard-to-get drugs has surpassed the previous record high from a decade ago.
It’s hard to overstate the stakes: Not having the right medication on hand is forcing doctors to prescribe alternatives that are often inferior to Plan A treatments. With patient well-being on the line, healthcare regulators are scrambling to find a panacea for a problem that’s been festering since 2021.

Diagnosing a cause
Experts cite a variety of reasons for the widespread shortages: Surging demand can lead to scarcities for drugs like Adderall, which is being prescribed extensively via telehealth, as well as the buzzy weight-loss drug Ozempic.
US regulations incentivize the makers of generic drugs to compete on price, diminishing the motivation for pharma companies to produce them.
Injectables like Ozempic are manufactured through a heavily regulated, technically difficult process that can easily derail.
The Biden administration announced a $5 billion plan earlier this month that it says would help keep pharmacy shelves stocked. It aims to boost transparency in obscure pharma supply chains by tasking an independent organization with scoring manufacturers on their production resilience and quality. Private hospitals that work with reliable generic drug suppliers would be rewarded with extra cash, while those who don’t would be penalized.

The ASHP criticized the proposed penalties, arguing that hospitals that don’t have the means to comply with the requirements would take a financial hit.
Looking ahead: The plan will remain just a plan until lawmakers in Congress agree to greenlight it.

https://links.morningbrew.com/c/jw7?mbcid=35045753.3696491&mid=99265661b2b9e9fcebad1b6287ef164f&mbuuid=kjeiugMA3FMwfayecW3i5Bfj
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horselover45 horselover45 10 hours ago
Def some rediculous silence from Avid.
Stupid me was expecting a PR about Thursday's CC.Will we hear something tom or just more guessing games. Never expected That Nick's handling Avid would turn out this way.
BUT then what do us retail investors expect!!!
👍️0
north40000 north40000 21 hours ago
Another ambiguity: In our TD Ameritrade account remaining, the Latest Earnings Announcement is set for today, 4/15/2024, but it sets the Upcoming Earnings Announcement as 4/18/2024. I gather 4/18 is correct.
👍️0
Preciouslife1 Preciouslife1 2 days ago
So correct Paul!! Dr Thorpe was ok Track for a Nobel Prize 🏆 in medicine before his “untimely” demise!! Bavi aka Tarvacin was the real deal as a non dlscriminatory medical wonder against cancers and viral infections!!
Blessings to you always Paul and family and thanks for helping me when I had metastatic cancer and post strokes!!! You’re a good friend and man!!!
👍️0
eb0783 eb0783 2 days ago
Hail to Dr. Philip E. Thorpe. May he rest in Peace. He knew, we knew, he had the answer to Dengue. I remember his Bavi presentations to us back in 2005 and 2006. I enjoyed the Q&A and the discussions. Too bad for all those people who could be saved. I'm sure we can blame big pharma, if not for his ?demise?, then for their sabotage of PPHM trials (2012). They didn't want Bavituximab to show up as the upstream checkpoint (the boss) and compete with the downstream checkpoints keytruda and yervoy. Bavi would/could have been approved before them.

(Preciouslife1, this is the same issue that Lenzilumab ran into.....big pharma didn't want it approved and MILLIONS of people will die unnecessary deaths))
👍️0
MusicBizExec MusicBizExec 3 days ago
Houston, we have a sales team problem...

https://www.foxbusiness.com/lifestyle/us-drug-shortages-hit-all-time-pharmacists-warn
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Preciouslife1 Preciouslife1 3 days ago
"IF" ONLY BAVITUXIMAB, WAS BROUGHT THROUGH TO FRUITION BY PPHM, BUT . . . . Remember the mad dash to find hand sanitizer when the pandemic started? Well, Argentinians are having deja vu: Latin America is dealing with what may be the world’s worst dengue epidemic ever, and one of the hardest-hit countries just ran out of mosquito repellent.
In Argentina, where infection rates are up ~800% over one year, “People are making their own home remedies because the truth is there is no repellent anywhere,” a supermarket chain manager told Bloomberg this week. The country’s government loosened its restrictions for bug spray imports on Monday, but it might take another week and a half for shelves to be restocked.

In the meantime: SC Johnson (owner of the Off! brand) donated 20,000 cans of repellent to Argentina on Tuesday after seeing an “unprecedented” 300% spike in demand from the same time last year.
Bug spray scalpers are reselling mosquito repellent via the online marketplace MercadoLibre for $20/can—a 500% markup. And that’s just Argentina!!

Of the 3.5 million people in Brazil, Paraguay, and Argentina who have already contracted dengue this year, 83% of them were in Brazil. Public health experts are also worried by rates rising in areas where outbreaks don’t typically occur.

Suspected dengue cases in Peru have tripled from the same period last year to ~135,000, and registered deaths have increased from 33 to 117.
Infections are climbing at popular vacation destinations, including Barbados, Costa Rica, Guadeloupe, Guatemala, Martinique, and Mexico, according to the Pan American Health Association.
Why is this happening? Epidemiologists say climate change and El Niño are playing right into mosquitos’ forelegs by making more regions warmer and wetter (aka skeeters’ paradise).

Regarding a vaccine…Brazil became the first country to roll out a public dengue vax program this year, but it only has enough to immunize 3.3 million of its 220 million citizens. A more accessible shot is at least a year away from production...

https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC5217514%2F%3Ffbclid%3DIwAR0JZMgmzjHBSr9edCtr89yvgl7txvqnj-SxbXgJ5u01Srx2R6lkeCBOD4o_aem_AUGce2sXtIY6u-zeseUZHxwR0ko2kpViM6la2kmnodaR2gS560joNK4uo9yqK9utNgV7iRyEuPXG0W7wUlP8V4Q0%23%3A~%3Atext%3DBavituximab%252C%2520once%2520bound%252C%2520starts%2520up%2520host%2520effector%2520activities%2520such%2520as%2Cdestruction%2520and%2520enhancing%2520antitumor%2520immunity&h=AT3vkW7Ek-BA3EMHwu5uUq-A_TbMGCREcTILe94iMRO5WtBjEHDN3JeQgalvQNJ_XnmGQ9KeBd8WmGJ4fqbC7UvcCHTN_TK-9mrGS9BrVzsMjEFVeqRj8Dg-mfmhO9mCPphPob-V3ls
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westjtter westjtter 4 days ago
OK, we all know that it does not take 5 weeks to restate earnings....could be that they are waiting to present their earnings restatement with some good contract news??? Maybe, but probably not!

All I can think of, is that there is some legal option they are exploring, but even then, how long does it take to get a legal opinion? Or are they in the midst of some negotiations for damages against some entity that was involved in this transaction?

Was the financing contract not that straightforward? If not, why the quick payout on original, and renegotiated(at much higher rates) convertible....almost immediately?

I know our analysts look at it, as just kind of a messed up convertible financing that someone failed to carefully check the terms, which resulted in the called loan!

If it truly is only an accounting issue, taking this much time does not make sense!

And yes, I also would like to see a few heads role if this is the case!
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jbainseky jbainseky 4 days ago
Really. Glad you understand accounting, but what about the inputs to that accounting? Did you read the indenture? You're POSITIVE the extra interest is due? You're POSITIVE when interest starts? You're POSITIVE the rate of the interest for what periods (there were several conditions)? Guess you have some inside information.

FFTT
JBAIN
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djohn djohn 4 days ago
Management was informed of the problem Feb 29th. 5 weeks and 1 day ago. Imagine if Avid had a contract to manufacture a drug for a company. Someone during manufacturing process did not follow the exact procedure causing production upset. Does anyone think that 5 weeks later the customer would still be waiting to here why this happened, who was responsible and making sure the responsible party was shown the door so this would never happen again?
Doesn't anyone else think that this stalling hurt credibility with future customers???
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r622102675 r622102675 4 days ago
Agreed 👍…the sooner the better…imao…r
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djohn djohn 4 days ago
The accounting is cut and dry. It's called GAAP. General Accepted Accounting Principles and they are black and white. There is nothing to resolve.
I to think they are waiting to maybe land a large piece of business they have been waiting on to soften the blow and keep all their jobs.
Hart should go and so should Ziebell, should have been monitored and caught by both if they were competent.
👍️ 1
jbainseky jbainseky 4 days ago
Why is everyone assuming restating financials sooner is better than later? Is everyone assuming the resolution is cut and dried?

FFTT
JBAIN
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hayward hayward 4 days ago
4OurRetierment

Yes Charles schwab
I can't believe in this day and age they would let this go long enough to get the notice in the first place ! IMO they just hope it will go away although Nick said the backlog would turn into orders this quarter so they may be waiting to soften the blow. I find it hard that they did not fire the CFO . Its chief financial officer not chief f@@@ up officer

Michael
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4OurRetirement 4OurRetirement 4 days ago
Does "CS" Mean CharlesSchwab? I Agree, And Would...

Prefer Not To Have Earnings Released On Thurs/Fri.

On The Other Hand, Earnings Are Late And The Clock Is Ticking For NASDAQ Listing Requirements.
They Need To Pull The Bandaid Off, Possibly Fire Someone, And Let The Stock Price Heal.
Additionally, They Need To Have A Call And Give Some Good News For A Change.
All This State Of The Art Uprades On Facilities But They Can't Seem To Increase Quarterly Sales???

Glta StockHOLDERS!
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bfiest bfiest 4 days ago
E means temporarily delinquent in regulatory filings for the Nasdaq. We knew that. They will take care of that — hopefully sooner than later. I’m sure they are triple checking numbers prior to filing. Probably wise to do so.
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r622102675 r622102675 4 days ago
Interesting to note that last year when Ziebell, Hart, and Green were issued the RSU shrs they sold off anywhere from 40-50% of them on 4/11...this year none...wonder if the BOD had something to do with that (and the threat of lawsuits as well)...not that they deserve any at this point...imao...r
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hayward hayward 4 days ago
4ourretierment

CS shows E after the trading symbol. Also Thursday IMO is not a good day for earnings

Michael
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4OurRetirement 4OurRetirement 5 days ago
ThinkOrSwim Now Shows $CDMO Earnings On 4/18, SOOooo...?<shrug>Glta,eom.
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Preciouslife1 Preciouslife1 6 days ago
Consumer prices rose 3.5% from a year ago in March, more than expected https://www.cnbc.com/2024/04/10/cpi-inflation-march-2024-consumer-prices-rose-3point5percent-from-a-year-ago-in-march.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
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ArchieK ArchieK 6 days ago
Humanigen Chapter 11 notification.
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westjtter westjtter 6 days ago
Just to be fair Mr Cubster....the entire market is down because of the inflation read. As far as Avid goes, its all about their ability to get enough business to increase their margins and turn a good profit. If they can and do, the share price will certainly take care of itself, however some indication on the timeline from Mr Green would be appreciated.

If however their revenues don't start increasing....and by increasing, I really mean exponentially to start filling up their capacity.....well then we are going to be drifting down here until someone inevitably will take us out at a bargain basement share price. The company cannot afford any more missteps, and once again we will be looking for something positive from Tustin.......we will see!
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Cubflyer1946 Cubflyer1946 6 days ago
Over $7 yesterday and down over 8% today. Looks like Lucy is pulling the football again. If earnings are tomorrow, it seems as though it will be no business, as usual, for this POS!
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4OurRetirement 4OurRetirement 6 days ago
ThinkOrSwim Shows Earnings Possibly On 4/11, Glta,eom.
👍️0
4OurRetirement 4OurRetirement 7 days ago
Maybe An AfterHours PR? Glta StockHOLDERS,eom.
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horselover45 horselover45 1 week ago
That would be interesting. I live 1/2 hr drive from Lonza.
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westjtter westjtter 1 week ago
Well theoretically it would be a good fit, so it is def not out of the realm of possibilities.....just hope we are signigicantly higher in 6 to 12 months. Anything other than mid teens or higher would be disappointing.
👍️0
djohn djohn 1 week ago
Yes, Lonza
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dorf1 dorf1 1 week ago
Lonza?
👍️0
djohn djohn 1 week ago
Just a hunch, but I think Lonzo will buy Avid Bioservices within the next 6 months
Jeanne Thoma arrives on the BOD the $125mil convertible pops up and expansion.
👍️0
westjtter westjtter 2 weeks ago
Well another week of nothing from the boys and girls from Tustin. I see from their linked in profiles that everyone is still pumped about working at Avid and the hiring of new employees continues, so not sure what that means???

Perhaps as a $6 share price company, Avid can live on for years, perhaps never quite making a profit but certainly always offering the potential to do so, and having a great working environment???!! At this point, with another $10 mil in yearly financing costs going forward, when might they be able to absorb this and create enough margin for the share price to actually move higher??? Or is that not really that important???

All looks a little glum now, but before we can even take a look at this.......MAYBE THE COMPANY SHOULD GET ON WITH THE BUSINESS OF RESTATING THEIR FINANCIALS TO GET BACK IN COMPLIANCE WITH THEIR PUBLIC LISTING!???

Then maybe they could have a CC and fill us in on the screw up and perhaps announce that certain members of their legal and accounting departments have been let go.......or even better, provide details on who the new convertible debt holders are(same as the old ones???) and perhaps, and dare I hope here, have some kind of a legal option to pursue against the original holders of the convertible and/or the legal team that negotiated it??? Now seeing that I am really dreaming now, lets get crazy and perhaps say that their demand action was at the very least a set up(which allowed them to short?) and was certainly against the spirit of the financing vehicle?

Or of course they could do nothing and just let our stock price slowly decline???
👍️0
north40000 north40000 2 weeks ago
I would advise TD Ameritrade to replace the quotation I see with the full quote you see from the Webpage. That would remove an ambiguity that is adversely affecting CDMO share price, IMO. Have you contacted CDMO CEO and BOD regarding this ambiguity? I am an old shareholder that perhaps should have immediately known that “Which We All Knew.” I didn’t. Would new shareholders know? Would market makers and short sellers take advantage of the ambiguity to keep CDMO share price low?
👍️0
4OurRetirement 4OurRetirement 2 weeks ago
AHHhhh, I See What You Are Saying But...

It Merely Means That $CDMO Failed To File Their Quarterly On Time, Which We All Knew.

For Those Interested, Here Is A Quote From The TDAmeritrade Webpage
Regarding This Discussion:

"Avid Bioservices Inc NASDAQ: CDMO*
*Nasdaq FSI: *Delinquent: Issuer Missed Regulatory Filing Deadline

As Far As I Can Tell, This Is Not A New Issue.

Glta Bulls, Watchers, & StockHOLDERS!
👍️0
north40000 north40000 2 weeks ago
At the very top of a TD Ameritrade CDMO stock quote, I get a notice that reads:

“Common Stock Status Alert: Delinquent”
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4OurRetirement 4OurRetirement 2 weeks ago
I Haven't Received Any Notifications From TDAmeritrade. SOOooo...

Can You Copy/Paste Any Of The Notice You Received?
Thanks.

Glta Bulls, Watchers, & Stock HOLDERS!
👍️0
north40000 north40000 2 weeks ago
I have a question; the answer could affect everyone here. If CDMO has paid the delinquency debt due, why am I getting a delinquency alert from TD Ameritrade today? Is TDA delivering false information that is affecting CDMO share value?
👍️0
djohn djohn 2 weeks ago
And over at Avid Bioservices accounting department

👍️ 2
Cubflyer1946 Cubflyer1946 2 weeks ago
Transparency? From CDMO management? LOL!
👍️0
bfiest bfiest 2 weeks ago
Personally although the screw up with the note is literally unbelievable on the surface — it is early after expansion completion with significant market challenges to judge them too critically. In my opinion selling at one of their weakest points would not benefit us. I am certainly willing to give them time to right the ship and get us in a much stronger negotiation position. To our knowledge they do have 1 product of 8 that has already been approved. That leaves 7 in the wings. Get a couple more of those products to be approved and we will once again have the upper hand. I’m hoping to see another quarterly call and I really would applaud more transparency concerning these late stage products. AIMO
👍️ 1
westjtter westjtter 2 weeks ago
Yup almost 2.2 million in volume and a drop of over 4%.....someone is getting tired of waiting for this company to get their sh--t together!!

Starting to lose confidence in management and don't understand the delay in restating the financials because it is beginning to have an impact on the share price, or rather a greater impact on the share price.

Somewhere in the back of my brain, there still is a glitter of hope that these guys will pull some kind of proverbial rabbit out of their hat and all will be well.....this glitter however is getting dimmer by the day!

I am also leaning to the side of just go out there and sell the company for whatever you can get, because it does not appear that they are capable of harnessing their potential and filling up the excess capacity!

Just can't afford any more screw ups, but am not confident any more that this will be the case???? $10 a share anyone??????
👍️0
horselover45 horselover45 2 weeks ago
Another Lawyers release but I didn't see anything new in there.
Maybe others will. Love the timing 3:07 PM just about the same time of day as the last one.
👍️0
ElSid18 ElSid18 2 weeks ago
This stock looks dangerously under pressure
with lots of sell orders....management IS hiding something!! Somebody should make us an offer....how low can we go with brand new plants in a tight capacity environment?
THESE GUYS REALLY DROPPED THE BALL.
👍️0
westjtter westjtter 2 weeks ago
Some things improve with time.....not providing updated restated financials promptly along with some kind of explanation and CC??....well these issues don't do so much for the share price!!!

How long will this/should this take??? The interest rates calculations are pretty straightforward....you simply add these new(restated) numbers to your accounting programs and voila, out come the new financial statements. Take a day or two to go over them just to make sure everything now complies, and you are good to go!

Am I missing something here??? Is there more to this story?? Is there a legal side coming???

Lets get on with it.....time to concentrate more on booking orders and getting this share price back on track!!!
👍️0
djohn djohn 3 weeks ago
26000 shares trade AH’s
About 23000 traded 5 minutes after close at the near closing price. At 35 minutes after closing 5 100 share trades walked in down to $6.40 and 1,5,20 share trades adding up to about 3000 shares since then.
So after hours drop from $6.70 to $6.30 is a non event done by someone trading mostly single shares try to make it look like something
👍️0
Cubflyer1946 Cubflyer1946 3 weeks ago
Get ready for yet another shoe to drop! Colossal POS!
👍️0
drontle2 drontle2 3 weeks ago
Something driving the share price down Afterhours. More volume than usual… now what?
👍️0
djohn djohn 3 weeks ago
I think either it’s a setup and is Nick involved?? For a low bid buyout or Hart and Zimbal are total idiots.
Take your pick
All in my opinion of course!!
👍️0
westjtter westjtter 3 weeks ago
Exactly....this is not the kind of thing that improves with time. They should restate and then give a pretty plausible explanation of exactly what the hell went wrong and how this new financing is going to affect Avid going forward!

If the financial restating is on hold because they are currently investigating some legal avenues, then again, Mr Green should provide some kind of an explanation of exactly what is happening.

Finally, I am still a little shocked that they(Avid management) immediately repaid this loan with the newer higher interest rate loan....generally when a loan is called, you then begin to negotiate with the holder of this financial instrument to discuss what happened and how to possibly resolve this? Plus what would happen if they just played hardball and fought the convertible holder on their right to be paid back immediately....what action could they have taken(again here I have no idea what options were/are available from/to either party of this loan. But the question needs to be asked!

As I have mentioned before, still seems like a bit of a set up....and while we are discussing this, who is the new convertible loan with??? Any of the same parties of the original convertible???

Lots of questions, but few answers coming our way from Tustin....c'mon Nick, time to step up to the plate and answer some questions!!!
👍️0
djohn djohn 3 weeks ago
Btw a CPA friend of mine said those reinstated financials should have taken less than a week with current accounting systems available today
👍️0
djohn djohn 3 weeks ago
Don’t remember that. King gave us just as little as Green does. We aren’t getting sh_t from Green. I’m finding myself questioning his competence at this point. He hired VP people? If you will do some research on her past you’ll find she’s dragging us down the DEI hole. It’s only a matter of time until we have a manufacturing upset because of hiring because of other reasons other than competency. IMO
16 paid internships is her baby! Our people really have the time to babysit or concentrate manufacturing runs?
👍️0

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