Avid Bioservices Inc (CDMO) News

Now that we are officially cooked, will the real FROOTIE please stand up and identify yourself!!!!

I'm moving my focus to $NMRA now for a dollar and a dream. Trading at less than cash value, and just named new CEO, who is a venture capital guy over at ARCH Venture. 7-8 drugs in pipeline. Just had poor data from 1 of 3 concurrent trial for depression, and stock went down 85%, a total overblown reaction.

RIP to TCLN, PPHM and CDMO. Screwed to investors.

Avid was bought out and we all became millionaires lol
I’m sun tanning on my new yacht right now.

We dumped our share count awhile ago, what exactly happened that it is no longer listed?? Pour souls holding this thing got the dagger???

Pretty good deal. Destroy the company financially and pick up $12 million

All the RSU's PSU's and remaining ESOP shrs were disposed of on friday...here's Greens' haul... https://www.sec.gov/Archives/edgar/data/704562/000168316825000856/xslF345X05/ownership.xml ...r

Avid stepping up their game now that they are in private hands.

TUSTIN, Calif., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO), 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 the launch of its new corporate website. The new site, which can be visited at www.avidbio.com, combines Avid’s elevated brand story and visual identity with improved functionality and navigation, all aimed at enhancing the visitor experience, particularly for current and prospective customers.


The reimagined Avid website captures the company’s elevated brand through the tagline, “Discover the Avid effect.™”, helping educate visitors on the differentiation that positions the company as one of the industry’s leading, most trusted biologics CDMOs. It offers a completely revamped customer experience highlighted by user-friendly navigation, improved accessibility, video interaction, and educational resources.

“As a company that places the highest priority on delivering exceptional quality service and exceeding the expectations of our customers, we felt compelled to bring that same ethos to our online presence,” said Nick Green, president and chief executive officer of Avid. “We take great pride in unveiling our new company website as a showcase to the Avid brand, capturing the spirit of our team, our unrivaled expertise, world-class facilities, and personalized process. For those that already have a relationship with Avid, we expect the new site will align with their experience. For those just getting to know us, we hope it will serve as a trusted and valuable resource for exploration, education, and engagement.”

very sad.....😪

It was strange that OncXerna closed the doors when I was questioning with the SEC why Oncxerna seemed to be slow walking Bavi with exclusively never ending phase 2 trials.  Rolf indicated he was out of the loop but also found it strange that Bavi was still in phase 2 trials.   And yes it was phase 3 trials that revenues would begin to be paid out to Avid.  In my opinion this was all very strange.  


Now it could be OncXerna just couldn't finance a phase 3 trial with royalties being paid out.   But with the low ball buyout I just have to wonder.

Any $$$s actually change hands under that licensing agreement? Has Bavituximab ever been marketed? Or FDA-approved for marketing?

Oncologie is defunct or bankrupt.

It was all about Bavi, nothing more nothing less..
This was all planned out years ago, I'm pretty sure I mentioned this when I heard of the buyout.
Not a damn thing we can do about it either.
Just disgusting what happened.

THANX!!! THIS IS CRIMINAL ACTIVITY & SHOULD INVESTIGATED!!! SHAREHOLDERS ARE THE VICTIMS OF DRUG TRIAL FRAUD; OF MANAGEMENT & ACCOUNTING SUBVERSIVE FRAUD; OF PPS SUPPRESSION FOR EVENTUAL THIEVING TAKEOVER!!!! SEC SHOULD BE NOTIFIED FOR ACTION FOR US SHAREHOLDERS!!! SHAME THAT THEY ALL SPIT UPON DR THORPE"S WORK AND DISCOVERIES!!!! _____ F R A U D!!!!!!!!!!! _____

Bavi being revived -- Very Predictable.  Yes this was all planned. Just as a reminder.


Royalty rate:
9,00 %; 11,00 %; 13,00 %; 14,00 %; 16,00 %
Base:
Net sale
Other payments:
Licensee shall pay to licensor the following payments: $3,000,000; $3,000,000; $2,000,000; Licensee shall pay to licensor the following milestone payments: $1,000,000; $2,000,000; $8,000,000; $5,000,000; $4,000,000; $30,000,000; $25,000,000;no $15,000,000; $5,000,000; In the event of licensee's sublicensing, licensee shall pay to licensor the following sublicensing revenue share percentage payments as follows: an amount equal to 0,30 multiplied by aggregate Phase II sublicensing revenue received by licensee and its affiliates (from or in all countries and territories) during the applicable quarter, or an amount equal to 0,15 multiplied by aggregate Phase III sublicensing revenue received by licensee and its affiliates (from or in all countries and territories) during the applicable quarter.
Compensation details:
Licensee shall pay to licensor royalty fees as follows: an amount equal to 9% of aggregate net sales (in all countries and territories) of up to $100,000,000 of each product; An amount equal to 11% of aggregate net sales (in all countries and territories) from $100,000,001 to $200,000,000 of each product; An amount equal to 13% of aggregate net sales (in all countries and territories) from $200,000,001 to $500,000,000 of each product; An amount equal to 14% of aggregate net sales (in all countries and territories) from $500,000,001 to $1,000,000,000 for each product; An amount equal to 16% of aggregate net sales (in all countries and territories) equal to or greater than $1,000,000,001 for each product.
Also the manufacturing rights were Avid's!

Per Google, The Bavituximab Patent Has Been Revised...
Google link:
https://patents.google.com/patent/US20180289771A1/en

Imho, Someone Manipulated Sale Of $CDMO
And Stole It And This Patent From StockHOLDers!
Patent Expiration Now Revised To:
"Status-Active, 2038-05-30 Adjusted expiration"
Per Google, The Current Assignees:
"Oncxerna Therapeutics Inc Avid Bioservices Inc"
And We Know Oncxerna Became Oncologie
And Is Now Defunct, Which Means
Avid's New Owners Retain 100% Of Patent.
Also, USPTO.gov Shows NO RESULTS FOUND
When Searching For Patent US20180289771A1,
Avid Bioservices, OR Bavituximab.
So, The Apparent Theft Seems Complete...
(All in my humble opinion).
Glta Retail Stock Investors In Future Investments!

Me too. Guess that wraps this up. GLTA, thus ends many years of hope, excited anticipation, catastrophic disappointment and more recently sadness.

FYI, Schwab Issued My CDMO Cash. Glt AllOfYou,eom.

Schwab posted a comment in "Schwabese" on my CDMO shares that seems to indicate that today is the day of a "forced sale". I expect my $ in the morning. We'll see.

Today's WSJ repeats the news from CNBC-TV, reporting that NVO "has committed billions of dollars to new manufacturing capacity on top of an $11 billion deal to buy three manufacturing sites previously owned" by Catalent. Capital expenditure plans have been  increased by~ 18 billion kroner  to a total of 65 billion kroner in 2025, mainly due to capacity investments. WSJ, pages B1-B2. 10,000 DKK= about $1,386.

More and more uses for the compound which means a lot more demand.

What an absolute steal.

And Avid sits with idle capacity.

Quite the Sales and Finance team Nick put together!

Despite all the disasters (including the sale) most of the folks on this board made some money.

But that was to the genius of building out a CDMO with the potential of Bavi.

Incredibly, Nick and management team somehow destroyed shareholder value by expanding capacity.

A fitting ending would be if Jeanette was running the Hedge Fund that did the buyout
God's speed everyone for enduring.

PFE's acquisition of Hospice in 2015 gave it that capacity. Now I just saw NBC-TV report that weight-loss drugs might cure an addiction to alcohol, per a study in Tulsa, Oklahoma.

Now I wonder whether we Avid shareholders might see a few more $$$/share in any takeover to avoid a shareholder class action suit led by other institutional investors. That would be a deserved, pleasant surprise.

NVO CEO interview today on CNBC today. Wegovy sales up, demand exceeding expectations, looking for more supply. I will be surprised if negotiations for sale of CDMO to NVO are not near completion, maybe tonight. NVO was reported to be the most valuable pharm company in Europe weeks ago. Has a solution to HALO's problem been solved by having 2 locations with trade secrets somehow preserved?

Ya think. Should be useful fodder for lawyers. 

YES, GREAT GROWTH POTENTIAL GOING FORWARD, ""BUT; WITHOUT ITS LONGSTANDING, LOYAL SHAREHOLDERS WHOM HAVE PERSEVERED THROUGH YEARS OF DROUGHT, THROUGH PPS RISES, AND PRECIPITOUS DROPS!!!!"" ______ IMMORAL MANAGEMENT OF BOTH ACQUIRERS AND THE ACQUIRED!!!!!

Hmmm...Sounds a little contradictory to what they've been telling us.....
https://finance.yahoo.com/news/avid-bioservices-poised-significant-growth-145500934.html

">Sargent Investment Group LLC cut its stake in Avid Bioservices, Inc. by 32.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,694 shares of the biopharmaceutical company's stock after selling 180,936 shares during the period. Sargent Investment Group LLC owned 0.59% of Avid Bioservices worth $4,695,000 as of its most recent filing with the Securities & Exchange Commission

"

Shares are halted today.
But feel free to contact Stephanie.
She has always been a wealth of information 🤣

SADLY OR VERY SADLY I'M OUT
AT $12.50 YESTERDAY WAITED MOSTLY FOR MAX RIPPOFF PRICE??  It's been real, and an honor pleasure to moderate his board for several years, and being in contact with so many other long-standing shareholders since 1997 here!! Sadly, many passed away before this ever got to fruition of Bavutuxiimab and PPHM Having and showing great success!
Now, on hindsight, the build outs were a joke, Management and the accountants were and are just Disreputable, immoral, untruthful and bothering on criminal! 

The only time I sold in the last 28 years, was when The share price was over $34 a share praise God!
Now settling for 1250 a share is not the end of the world, but it is a slap in the face and I hit to the pocket!
Current management has dishonored and be Smurfs the name of Dr. Philip Thorpe imho!!
This little company was destined to become a gem in the biotech world; Until she or evil and underhanded entities and people sabotage this company and the trials, forcing the sale of Bavi and making the sub secretary of AVID THE FACE AND EQUITY OF THE COMPANY KNOWN AS CDMO! 
I'm sure this board will go away shortly so I won't even bother resigning as moderator and I will still check in because I have many friends here! Blessings to all, and I hope you red deploy the assets for good use and good profits in the future to help circumvent the Al Capone and Bonnie and Clyde Management of CDMO!

I Believe They Stated In The Sale Propaganda...

That they intended to finalize the sale within 3 days after the vote to confirm sale,
But I could be wrong.
Can someone else check/confirm?

There has been no communication that I have seen since the vote happened.


Personally, I was planning on getting it tomorrow, lol...

Hello,
I assume CDMO is close to going private with the stock trading at $12.50.
Has there been a firm date yet when the stock is turned to cash?

What Happens IF Shorts Cover Before EndOfDay? Will...

The PPS Go up, Up, UP,...?

Or Have The Shorters Already Arranged To Cover "Off Market",
Behind Closed Doors?

Fintel Still Shows 124% Owned By Institutional Investors!?!?

https://fintel.io/so/us/cdmo

Glta $CDMO StockHOLDers!

Couldn't determine North. Only thing I saw was that Pfizer has done their manufacturing for other licensed products.

I sold half my CDMO prior to the vote in case and didn't reinvest in stocks rather left it all in cash. If this dropped I was ready and I think your move echo's my sentiment. So I'll keep my powder dry, do the same when we get our $12.50

Agree. But if their actions weren't negligent and they pin it on someone else it is part of the reason why we don't have a case now.

Do we know what entity makes/manufactures AXSM's newly FDA-approved migraine drug Symbravo, expected to be introduced in next 4 months? It was approved by FDA last Friday, AH.   CDMO might be an ideal candidate.

I sold all my stocks this morning. Trump has the record for 8 of 10 biggest drops in stock market history. I have no doubt he will improve on that performance. His biggest was -2997 points.

Dr. Rocker,- I think you are absolutely correct on what transpired and the collusion between the current and former board members.

Here is some additional food for thought. Now with the implementation of tariffs on imported goods and those manufactured outside of the US, can you imagine how the value of a US based CDMO (with excess capacity) just increased in value? I would suggest at least 50%.

This has to be one of the worst buyouts ever transacted (for shareholders).

I think we understand the impact of the last ill-advised financing and the almost insurmountable hurdle that caused but I still don't understand why operationally the new facility was not able to generate revenue? Their explanation of higher interest rates and less biotech research never made sense. Was it the wrong market and just a strategic blunder?

It is my opinion that they intentionally slow played signing new business to fill the new capacity to keep the share price down enabling the privatization/steal at more favorable numbers. Hard to prove making it close to the perfect crime.
Water under the bridge at this point unless something comes of North's lawsuit.

I think we understand the impact of the last ill-advised financing and the almost insurmountable hurdle that caused but I still don't understand why operationally the new facility was not able to generate revenue? Their explanation of higher interest rates and less biotech research never made sense. Was it the wrong market and just a strategic blunder? Also, whatever happened to that Belgium guy?

Avid Bioservices was incorporated in Delaware in 1996 via Techniclone and Peregrine. Avid conducts  its business activities in California. A suit to recover our lost use of Capital due to managements' and auditor's gross (may be deliberate)negligence in 1) failure to timely check boxes on forms and 2) managing corporate finances in a fiduciary manner may be brought in Wilmington, Delaware or San Jose/San Diego, California, IMO. A graph of Avid share price illustrates the facts relating to our lost use of capital date wise, before and after expansion was started/completed. We know the financing facts--originally at low interest rates and subsequently at high interest rates. The party(John Doe) that caused any management "mistake" in 1) and 2)  above would be included as a defendant in the complaint, as would the 2 funds that have negotiated/completed the buyout/merger transaction.  See California v. Texas, 141 S.Ct. 2104, 2113(2021) and TransUnion, LLC  v. Ramirez, 141 S.Ct. 2190, 2203-2204(2021). See also FRCP 23.1 and 18f-4 regarding 4 year timeliness, bond requirements, and shareholders who have rights to bring shareholder derivative suits. A demand letter to Avid management and BOD looks futile, hence unnecessary.

Spouse and I are contemplating a shareholder derivative suit as outlined above. Is anyone here interested? A $50k bond in California(?) is a substantial cost that could be split. I have contacted no institutional shareholders to determine their interest, nor have I been able to talk with attorneys I know to ascertain their interest.

But that won’t do us any good as the sale will have closed.

It seems they feel they were given bad legal guidance and might be pursuing an outside firm over this.

Wish I had FU money as I would sue just to depose them all. No one is going to convince me the financial screwup was not intentional. If not, why was no one held accountable.

We all thought Nick and gang were going to grow the pie and everyone would benefit but in reality Nick and gang only grew the portion of the pie the gang controlled thus squeezing shareholders out of a fair return.
I call them the gang because they are gangsters! Taking from people playing fairly.
Again this experience has opened my eyes the utter sleaze exists in this world and the things they get away with. I hope they can live happily with the money they have taken from good people thinking their wit makes them in titled to unearned fortunes
I hope the best to everyone who went through this little adventure!
Good luck!

I Suppose Anything's Possible, But Not Likely(shrug)...

Getting only $12.50/share is retail already getting taken advantage of, so,
I don't think there's any point to attract attention by not paying the $12.50/share.

But, I will also believe it when I see my cash...

Glta!

If NIck was in tehe building would not lose any sleep over that.

So I expect to see that my shares will be converted to cash at 12.50 a share.. is there any chance to get screwed in the process?

I hope an earthquake takes the whole f-ing place down. No casualties though. That would be justice.

I Would Pay Good Money To See If...

Any Of The Numerous Existing Shorted Shares Of $CDMO

Directly Or Indirectly Belonged To ANYONE Profiting From
What Seems Like The Organized Stealing Of This Company!

Glta...

What sleezing thieving MF'ers, they got away with it. Not that should be any surprise they were way better thieves then they were at running the company.