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Avid Bioservices Inc

Avid Bioservices Inc (CDMO)

9.795
0.265
( 2.78% )
Updated: 05:55:51

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
9.795
Bid
9.79
Offer
9.80
Volume
938,002
9.33 Day's Range 10.01
4.0705 52 Week Range 14.02
Market Cap
Previous Close
9.53
Open
9.40
Last Trade
200
@
9.795
Last Trade Time
05:55:51
Financial Volume
US$ 9,024,156
VWAP
9.6206
Average Volume (3m)
1,088,779
Shares Outstanding
63,581,054
Dividend Yield
-
PE Ratio
-4.45
Earnings Per Share (EPS)
-2.21
Revenue
139.91M
Net Profit
-140.75M

About Avid Bioservices Inc

Avid Bioservices Inc is a clinical-stage biopharmaceutical company focused on the development and Current Good Manufacturing Practices (CGMP) of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development and high-quality CGMP cli... Avid Bioservices Inc is a clinical-stage biopharmaceutical company focused on the development and Current Good Manufacturing Practices (CGMP) of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development and high-quality CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. Show more

Sector
Pharmaceutical Preparations
Industry
Pharmaceutical Preparations
Headquarters
Wilmington, Delaware, USA
Founded
1970
Avid Bioservices Inc is listed in the Pharmaceutical Preparations sector of the NASDAQ with ticker CDMO. The last closing price for Avid Bioservices was US$9.53. Over the last year, Avid Bioservices shares have traded in a share price range of US$ 4.0705 to US$ 14.02.

Avid Bioservices currently has 63,581,054 shares in issue. The market capitalisation of Avid Bioservices is US$605.93 million. Avid Bioservices has a price to earnings ratio (PE ratio) of -4.45.

CDMO Latest News

Period โ€ ChangeChange %OpenHighLowAvg. Daily VolVWAP
12.25529.90716180377.5410.017.2213690088.59166152CS
42.40532.54397834917.3910.016.6112578617.69082992CS
123.11546.63173652696.6810.016.5310887797.98356094CS
263.83564.34563758395.9610.015.911982057.26228364CS
52-3.395-25.739196360913.1914.024.070510958977.32586216CS
156-14.905-60.344129554724.734.514.070579707314.02993841CS
2603.43554.00943396236.3634.513.0265639413.43785475CS

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CDMO Discussion

View Posts
djohn djohn 1 hour ago
Wasn't PPHM suppose to go to $180 per share before the 2 reverse splits?
Just sayin lol
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jbainseky jbainseky 1 hour ago
There is no timeline for the wager. Buyout over $40 PPS I win, under $40, you win. No buyout, wager is a push.
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Preciouslife1 Preciouslife1 2 hours ago
I can actually remember like feeling like crying the day it dropped under $20 thinking no way $35 down to $20 and then all the way down to four and back up to $10 now!!
SUCH IS LIFE!!
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westjtter westjtter 2 hours ago
I would like to make a bet and hope I lose it? lol Timeline please.
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jbainseky jbainseky 3 hours ago
who wants to make a wager that there will not be a buy out at less than $40 PPS?

FFTT
JBAIN
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djohn djohn 4 hours ago
Maybe a bidding war over $15?
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bfiest bfiest 4 hours ago
Don't forget IMHO. Could definitely happen. But they could also just as easily move the ball forward. Nobody knows. Time will tell.
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EndoTarget EndoTarget 4 hours ago
11 will trigger the buyout at 15. Unfortunately.
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tech0200 tech0200 12 hours ago
The stellar compliance record is steve King's legacy that carried over to Lias and Nick after his departure. Nick and Lias can get the credit for keeping the team responsible for maintaining such stellar compliance in place but that is something that is very easy to do. Where Nick failed is in filling,or starting to, the new capacity. Plus Steve King took Bavi into phase III. Had it not been for the phase II sabotage Bavi would have probably been approved. Nick has failed so far in starting to fill the new capacity after more than ample time. I do hope you are right but I hope we get taken over at a good price after all of this waiting. Maybe the price jump bodes well for the near future, i hope.
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Preciouslife1 Preciouslife1 15 hours ago
Being cryptic much!?!?!
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r622102675 r622102675 19 hours ago
Oh I think I know why the jump occurredโ€ฆbut you probably wonโ€™t like the reasonโ€ฆimao..,r
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djohn djohn 1 day ago
It's a Powell short squeezer
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epcjmc epcjmc 1 day ago
Shorts are covering imho!
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Preciouslife1 Preciouslife1 1 day ago
HI OVERSOLD, UNDER APPRECIATED; FUTURE PROSPECTS LOOKING UP
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drontle2 drontle2 1 day ago
Price action looks like someone is trying to shake loose shares from down trodden CDMO longs
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stoneroad stoneroad 1 day ago
Whatโ€™s up with the volume and jump in SP?
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jbainseky jbainseky 1 day ago
As I opined months ago, the $8.5-$9.5 PPS level is going to be tough to crack. Not sure this will be the time, but the way the MM is moving the PPS it very well could be.

FFTT
JBAIN
👍️ 1
westjtter westjtter 2 days ago
Well that was a disappointing close after showing some real gains earlier....the stock price fell off a cliff....what was that all about?
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MusicBizExec MusicBizExec 2 days ago
Here we go!
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westjtter westjtter 2 days ago
Nice to see that Mark Ziebell is on the filings for "Performance" stock....I mean he did such a bang up job overseeing the original debenture financing!

As for $34....well sadly, I think that ship has sailed!

But all is not lost as I believe that now with the financing offerings again opening up for small Biotechs, we will be at the receiving end of their drug candidate orders and these can be very profitable. I am thinking and hoping that we will begin to see them starting to make at least somewhat of a dent into their excess capacity over the next several quarters and beyond.

I do see $15 at least within 18 months(barring no other debacle or major setback) and perhaps into the low $20's in a couple of years....maybe? So I am hoping and believing that the worst is now behind us and our stock price should begin to reflect the coming growth, revenue and profit coming to Avid.

And I still believe Avid could be taken out any time within the next couple of years, as the board and management would certainly benefit greatly.....and yes we common shareholders would also, but certainly not as much as Nick and company!
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Preciouslife1 Preciouslife1 5 days ago
http://archive.fast-edgar.com/20240712/AL2ZB62CZ22HQZZF222S2ZYZQTVUZZP2ZM62/

http://archive.fast-edgar.com/20240711/AL2FB62CZ22HQZZF222S2ZYZPT9UZZM2Z262/

http://archive.fast-edgar.com/20240711/AJ2P362CZ22HCZZF22242ZYZU7WVZZM2Z262/

http://archive.fast-edgar.com/20240711/AV22462CZ22H9ZZF22262ZYZ9TAM8ZM2Z262/

http://archive.fast-edgar.com/20240711/AO22P62CZ22HSZZF222I2ZYZ2URBIZM2Z262/

NOW IMAGINE ALL THESE SHARES DISTRIBUTED IF THE SHARE PRICE WAS $34+ AGAIN!!!! Sheesh Only weathermen and CDMO execs can be correct 25% of the time ...
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cheynew cheynew 5 days ago
Large AH trade
07/12/2024 17:23:24 EDT W 8.32 184268 NDD
07/12/2024 16:06:17 EDT I 8.51 1 ARCA
07/12/2024 16:02:52 EDT P 8.32 321 NDD
07/12/2024 16:02:50 EDT P 8.32 105 NDD
07/12/2024 16:02:47 EDT P 8.32 771 NDD
07/12/2024 16:02:46 EDT P 8.32 136 NDD
07/12/2024 16:02:44 EDT P 8.32 503 NDD
07/12/2024 16:02:40 EDT P 8.32 3238 NDD
07/12/2024 16:02:37 EDT P 8.32 1268 NDD
07/12/2024 16:02:19 EDT I 8.32 69 NDD
07/12/2024 16:02:01 EDT P 8.32 1304 NDD
07/12/2024 16:01:40 EDT P 8.32 212 NDD
07/12/2024 16:01:37 EDT P 8.32 672 NDD
07/12/2024 16:01:15 EDT P 8.32 2438 NDD
07/12/2024 16:00:11 EDT I 8.32 83 NDD
07/12/2024 16:00:11 EDT P 8.32 1767 NDD
07/12/2024 16:00:11 EDT P 8.32 473 NDD
07/12/2024 16:00:11 EDT P 8.32 335 NDD
07/12/2024 16:00:11 EDT P 8.32 226 NDD
07/12/2024 16:00:11 EDT P 8.32 2235
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djohn djohn 6 days ago
Where do we fine these milestones?

The vesting of the PSUs granted to the reporting person on July 9, 2024 is subject to the Issuer achieving certain fiscal year revenue and adjusted pre-tax net income milestones, each weighted 50%, over three (3) fiscal year performance periods beginning with the Issuer's fiscal year ending April 30, 2025 and continuing through the fiscal year ending April 30, 2027 (each a "Performance Period"). Subject to the Issuer attaining the applicable fiscal year milestones, 1/3rd of the PSUs will vest on the last day of each fiscal year during the Performance Period, subject to the reporting person's continuous service to the Issuer on such vesting dates. The number of PSUs listed is based on a maximum 200% achievement of each milestone during each Performance Period (the "Maximum Performance Target"). If a milestone is achieved at a rate below the Maximum Performance Target, or is not achieved, the corresponding portion of the PSUs that do not vest are forfeited.
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bfiest bfiest 6 days ago
I give you an A for consistency. -)
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r622102675 r622102675 6 days ago
Don't eat dinner b4 viewing what Hart got for RSU shrs this yr... https://www.sec.gov/Archives/edgar/data/704562/000168316824004762/xslF345X05/ownership.xml ...got little over 19k last yr...r
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westjtter westjtter 6 days ago
Well I kind of have to agree....Nick and his crew showed their competency in how they missed doing a minor filing on the original convertible financing which led to a complete debacle and forced them to repay the funds immediately and negotiate another package with interest rates jumping from 1.25% due in 2026 with a convertible price in the mid $20's, to 7% with a convertible price reduced to $9.89. So the minimum extra financing cost is approx $10 mil per year for 2024, 2025 and part of 2026....so lets say $25 to $30 million anyway. Also, when and if these shares are converted, this will result in much more dilution than the previous convertible and will certainly result in a much lower share price at that time.

Now all of the above does not mean that Avid will never succeed, nor that we(Avid) will ever trade back into the teens but this will certainly be a drag on the share price going forward as compared to the original convertible debt deal.

Now I still believe that Avid will yet succeed and think we have a shot at $15+in about 18 months or so, which is very good......but nothing close to where we would have traded. The bottom line remains that for Avid to make money and hence for the share price to go higher, they MUST start making progress on filling their capacity....even under the original convertible....sure their financing costs would have been lower, but making solid profits still would only come if they manage/d to fill capacity....and like I have said before....I think actual capacity is higher than $400 mil, or rather they have ways of increasing this.

So yes we may still have very good times ahead.....now as for the question of who was the better CEO?....only time will tell....remember that it was SK who saved the manufacturing side of Peregrine which allowed the share price to run when new management was brought in and allowed shareholders to cash in. I also do not believe that SK would have missed reading the original convertible financing terms that required minor filings and would have seen this package through to completion.

Now would SK have embarked on the huge expansion that Nick pushed through????? Who knows? And if Nick manages to fill up capacity in a timely manner, we will all sing his praises no doubt. With rates starting to come off or predicting to start to come off, this will open the doors to new financing for a lot of smaller Biotechs leading to more drug candidates and more contracts for Avid....high profit contracts!

So we will see as we are now in the hands of Nick G.....if he fails to meaningfully start filling up capacity, he will be gone and the company will probably be sold.
👍️ 1
Bluerinse Bluerinse 6 days ago
Ha Ha ...good one! Not alot of facts support your positive view of Nic and his clown show
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djohn djohn 6 days ago
Short interest was down a bit.

https://www.nasdaq.com/market-activity/stocks/cdmo/short-interest

Settlement Date Short Interest
06/28/2024 12,358,079
06/14/2024 15,076,940
05/31/2024 11,510,830
05/15/2024 11,862,647
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bfiest bfiest 6 days ago
This stock, like many small cap stocks, reacts positively to any indication that interest rates will be going down. The positive inflation news today bodes well for CDMO and all small cap stocks. All other things equal, we should see a steady rise in share price as interest rates retreat from current highs.
👍️ 1
MusicBizExec MusicBizExec 6 days ago
And with the added benefit of a huge short position... especially those 5 million or so that piled on in May/June!

MM is keeping it orderly, so far 😁
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Preciouslife1 Preciouslife1 6 days ago
$8.30 HIGH SO FAR! โ€ฆ.. $8.27 at 11:50 am โ€ฆ. Great rebounding
From the low of $4.00 โ€ฆ. I doubled down at $4.20 back then, but still underwater after 28 years in this equity โ€ฆ. Didnโ€™t even want to sell at $34+, but did sell some then, and redeployed some back at $4.20 โ€ฆ. IT IS A MM GAME โ€ฆ WE ARE ALWAYS THE LAST TO KNOW โ€ฆ. BLESSINGS TO ALL
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cheynew cheynew 6 days ago
Finally some good news the market is reacting positively to. Thanks.
👍️ 1
MusicBizExec MusicBizExec 6 days ago
KeyBanc Capital Markets maintained its Overweight rating on Avid Bioservices (NASDAQ:CDMO) stock, with a steady price target of $14.00.

https://www.investing.com/news/company-news/keybanc-still-confident-in-avid-bioservices-stock-despite-lower-orders-93CH-3507234
👍️ 1
r622102675 r622102675 6 days ago
Hesitancy on new sales might be attributed to the Catalent model?...Would a startup commit a new drug/molecule/gene process to a company that might get bought out for sole manufacturing capacity?...I could imagine the pharma musical chairs scenario playing out at CTLT to make room for Ozempic....That horror show is probably on the minds of the startups looking for a home to get their drug going...imao...r
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bfiest bfiest 6 days ago
"Steve King a much better CEO than Nick."

I respectively and adamantly disagree. No comment on Steve King and the former team. Nick and his team can turn this around. I am willing to give him the benefit of some time. We don't know what's going on behind closed doors. There were 6 or 7 products up for FDA approval. The market is turning around. Demand is returning quickly and optimally. They have a strong, stellar compliance record. There were no excuses given last quarterly meeting. Yes accountability is important. I only wish they would promote their new business wins more aggressively. His team was doing a phenominal job before some hiccups. It happens. I believe they have the mental tenacity to turn this around. I believe wholeheartedly that our best days are ahead! I believe Nick and his team has what it takes to bring this company to potential. AIMO
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tech0200 tech0200 6 days ago
At this point the only thing I am hoping and waiting for is the sale of the company. Green and the board cannot get it done because they haven't gotten it done after all of this time. Building a new plant and expansion is a very bad move if you cannot fill the new capacity in an industry and at a time when there is
good demand. Maybe HALO will move all of their manufacturing to Avid but that obviously will not be because of anything Green at al will have done. They seem to be too comfortable drawing their fat salaries without even thinking that their stocks could be worth a lot more if they started to fill the capacity.

But that takes work, accountability of your sales team accountability to your shareholders, things that they do not appear to have. They relish in things like esg compliance and maybe DEI (don't know if they are pursuing dei but it wouldn't surprise me). Steve King was a much better CEO than Green has proven to be so far. Hoping that maybe another Steve forces a sale of the company. Steve Cohen.
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Bluerinse Bluerinse 1 week ago
How does Nic justify his role as CEO, makes $6mil a year for what? Destroying hundreds of millions in shareholder value? Or how about missing a debt covenant and costing us millions? Or the amazing sales team that can't close deals? Are Institutional holders indifferent or passive index holders. The board?? Ha ha blissfully unaware or aware and complicit ... Time to force a sale this is beyond criminal
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cheynew cheynew 1 week ago
HALO is up $20 this year, from $33 to $53. Wish we would see some of that in our share price.
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bfiest bfiest 1 week ago
Yes absolutely if they can attract such people. More apt to attract experienced, effective sales people with strong standing in the industry. Either way they need to know what is hindering sales and eliminate it. Take all excuses away. The market downturn is no longer a valid excuse. The market is robust and capacity is badly needed.

Set their sales people up for success. Promote success. Take away all excuses. No excuses. Then it's a matter of managing the sales process -- ensuring everyone is being aggressive and closing sales. Coaching where needed and holding people accountable. You aren't doing anyone a service by keeping low performers on the payroll. Not even the person that needs to be eliminated. They learn nothing if they are allowed to under perform. It certainly would help to have experienced sales people with established track records and relationships.
👍️ 1
djohn djohn 1 week ago
Maybe bring in some salespeople with the right relationships in the industry to gain new business??? These 4 or 5 salespeople MK brought in have not brought any new business!!! Our facility stands half full and they wrote 15% of what they need to fill production last quarter. They need to be selling $100 million a quarter!!!
They have sold less in the last 3 quarters than the 3 quarters before MK came on board in 2021.
I can't believe the BOD is just sitting there taking this poor performance by the commercial "team"
👍️ 1
bfiest bfiest 1 week ago
They have lost some faith in the market. Makes it tougher on their sales people. This possibly contributed to the modest 30M in sales last quarter. They need to re-gain faith in the market. Announce new business as it happens. Especially big players. Announcing generically you have a new big pharma account at the end of quarters is not optimal in assisting sales at this stage. They need to promote more aggressively and, of course, honestly to put past challenges behind them. Get faith back in the market. Help your sales people gain momentum. Stop the silent treatment. Makes no business sense at this stage.
👍️ 1
djohn djohn 1 week ago
Another 3 months of nothingness! Maybe Avid will get another one of those badges that be an accomplishment
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Preciouslife1 Preciouslife1 2 weeks ago
http://archive.fast-edgar.com/20240702/A22ZN22CZ22HRTZF222P2ZYZQJCNZZI2ZM62/
๐Ÿ‘๏ธ0
Preciouslife1 Preciouslife1 2 weeks ago
http://archive.fast-edgar.com/20240702/AJ22522CZ22HBTZF22242ZYZU73V8ZJ2Z262/
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Preciouslife1 Preciouslife1 2 weeks ago
http://archive.fast-edgar.com/20240702/AL2ZB22CZ22HQTZF222U2ZYZRT8UZZI2ZW62/
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Preciouslife1 Preciouslife1 2 weeks ago
Why Avid Bioservices Stock Is Moving Higher Wednesday
BY Benzinga

Avid Bioservices, Inc. (CDMO) shares are trading higher on Wednesday following the company reporting better-than-expected 2024 fiscal-year fourth quarter sales.
The Details: Avid reported fourth quarter financial results on Tuesday after the market closed. The company reported a loss of $1.94 per share missing analyst estimates of a loss of 4 cents per share.
In addition, the company reported sales of $43 million beating analyst estimates of $42.14 million. This figure represents a 8.04% increase in sales year-over-year.

Avid also issued guidance for the 2025 fiscal year. The company sees revenue between $160 million and $168 million versus analyst estimates of $164 million.
โ€œWe generated the highest quarterly revenues in Avidโ€™s history, meeting our current revenue expectations for the year. During the period we signed multiple new project agreements, and we continue to see positive signs for business development in the year ahead,โ€ said Nick Green, CEO of Avid Bioservices (CDMO).
Analyst Changes: Following the earnings report, one analyst issued a price target adjustment.
RBC Capital analyst Sean Dodge reiterates Avid Bioservices (CDMO) with a Outperform and maintains $8 price target.
๐Ÿ‘๏ธ0
r622102675 r622102675 2 weeks ago
Viva Ecovadisโ€ฆr
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Monksdream Monksdream 2 weeks ago
CDMO under $10
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westjtter westjtter 2 weeks ago
Regardless how you view their tax situation and how they account for their losses be it GAP or Non GAP.....in the end, if they do not make any profits, this conversation and all of this accounting wrangling is all for not!

We all know that their profit is tied purely to the volume they do, so growing revenue is their number one priority as so many of their costs are fixed. If they cannot achieve significant revenue growth in the coming months and year or two, someone is going to pick them up at a bargain....lets hope Nick still has fire in his blood to make this happen???!!!
๐Ÿ‘๏ธ0
NoMoDo NoMoDo 2 weeks ago
I believe this was also a tax loss deferred. It counts as an asset because if they show a profit the loss will offset the taxes owed.

The press release said that they estimate that there is a good chance they wonโ€™t have a profit next year, so by accounting standards they can expense the value of the deferred loss.

By expensing it now, the company can blame the bulk of the loss on accounting tricks. Further, if the company shows a profit this next year, they can still use the deferred loss to cover the taxes. In addition, they would undo the expense - which effectively lowers the total expenses. A double benefit. Finally, the financials always compare q to q and year to year. The latest k is now a low bar by over $100k in losses. They can easily show improvement.
👍️ 2

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