Avid Bioservices Inc (CDMO) Quote

I didn’t see a link on their website, but you can ask Stephanie to add your info at mailto:sdiaz@vidasp.com.

Informative, unbiased article. Very good read. Sadly, seems like more information than we will ever glean from the company under current legal guidance. Certainly doesn’t shine a positive light on the players involved in the note fiasco including internal legal. Just inexcusable and there should be “accountability”. Even so paints a positive picture for Avid’s future.

I just wish Nick would stand up, communicate, take the heat and move forward even though the note fiasco was not his direct responsibility. That’s leadership. I’m ready for them to move past this. AIMO

Personally I don't think Nick should go. Nick built this thing, he should see it through. I agree with the article "These are things that one just expects to be done, especially when there is a CFO, internal legal, external legal, and the bankers who structured and sold the bond all involved."
Hart and Ziebell should go and new outside law firm and banker should be hired.

Great article, it is unfathomable that heads don't roll over this. Start with Nic the 6 mil dollar man and destroyer of shareholder value

This is about the best explanation of what happened and going forward I have read so far.
Read all information on Avid. All the way down.

https://seekingalpha.com/article/4684511-laughing-water-capital-q1-2024-letter

Interesting comments on HALO possibly moving more business to Avid

https://www.genengnews.com/insights/viral-vector-capacity-a-biopharm-problem-cdmos-can-solve/

It's been 30 days since NASDAQ issued the non-compliance notice. I think they have 180 days to cure this default but that is no excuse for the lack of communication with shareholders. In my opinion, canceling the earnings call was a huge mistake. And that was on top of an already huge mistake. Why have they not updated shareholders? The only thing that matters at this point is SALES.

SHAREHOLDERS HAVE A RIGHT TO KNOW WHERE THEIR INVESTMENT STANDS AT THIS POINT.

Could you share how you set this level of communication up? I have LinkedIn with a few of the folks so see some things there that's nowhere else. This lack of outbound communication (hopefully just to retail??) is so frustrating but if I can get more I'd be happy!

I didn’t get an email from Avid on the filing as I usually do. What’s up with that? I got emails on all the Form 4’s the other day.

Money talks. Good to see.

Altravue Capital filed a 13G yesterday raising their percent to 5.3% from 4.7%.
https://ir.avidbio.com/node/20731/html

Yes and an 80% decline or precipitous drop in a few short years, speaks volumes to so many areas of poor managerial decisions, for bookings, poor, financial fiduciary responsibility, overseeing the ledgers, nothing happening with the viral vector project and about absolutely almost 0 communication with Management since their mess up with alone interest payments, which cost us a shareholders dearly imho!!! From $35 down to $4+ now $6.71 There’s about an a bad investment as buying a boat that you know has leaks in it! Hoping for the best I’m praying for ALL!

No comment on the 200 contracts for $5 dec puts from Monday @ .85?…r

The fact we are down 65% from one year ago, kind of ruins any talk of an up trend.

well a 6-month chart shows a general uptrend since December, even with the "correction" for the convertible issue. What is your definition of an uptrend if CDMO is not in one?

FFTT
JBAIN

Positive trend? Please do explain? lol

with sharp drops it looks like MM moving the PPS. Most people don't do market sells this early in a positive trend.

FFTT
JBAIN

Might be tough to punch through $7.50. Sure looks like someone is in the accumulation mode. Not sure if it is a MM or II.

FFTT
JBAIN

Will $CDMO Bulls EndTheDay At HighOfDay? Glta,eom.

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

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!!!

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.

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!!!

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))

Houston, we have a sales team problem...

https://www.foxbusiness.com/lifestyle/us-drug-shortages-hit-all-time-pharmacists-warn

"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

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!

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

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???

Agreed 👍…the sooner the better…imao…r

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.

Why is everyone assuming restating financials sooner is better than later? Is everyone assuming the resolution is cut and dried?

FFTT
JBAIN

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

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!

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.

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

4ourretierment

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

Michael

ThinkOrSwim Now Shows $CDMO Earnings On 4/18, SOOooo...?<shrug>Glta,eom.

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

Humanigen Chapter 11 notification.

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!

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!

ThinkOrSwim Shows Earnings Possibly On 4/11, Glta,eom.

Maybe An AfterHours PR? Glta StockHOLDERS,eom.

That would be interesting. I live 1/2 hr drive from Lonza.

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.

Yes, Lonza

Lonza?

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.

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???