Avid Bioservices

Avid Bioservices, Inc. engages in the commercial manufacturing. The firm focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.

Earnings data Q3 2021

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Earnings data Q2 2024

Earnings data Q3 2024

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Earnings data Q1 2025

Earnings data Q2 2025

Avid Bioservices Achieves Record Revenues, Faces Margin Challenges

Avid Bioservices achieved record revenues and strong bookings, but faced challenges with decreased gross margins and increased expenses. Moving into the viral vector space and with a strong late-phase project pipeline, the company sees opportunities for growth in the next 12 to 15 months.

Avid Bioservices reports Q2 earnings, focuses on expansion and innovation

Avid Bioservices showcased positive operational performance with increased utilization of the new mammalian line fleet and a record backlog. While facing challenges related to net loss and revenue recognition delays, the company remains focused on expansion and innovation, presenting opportunities for growth in the cell and gene therapy space and later-stage products.

Avid Bioservices reports robust Q3 earnings and targets pharma growth

Avid Bioservices delivered strong financial results in Q3 2023, showcasing revenue growth and operational efficiency.
While facing challenges in margins and expenses, the company's strategic focus on quality and growth presents opportunities for expansion.
With a solid cash position, record backlog, and targeted business development, Avid is poised for continued success in the market.

Avid Bioservices reports record revenues and backlog, eyes strategic growth

Avid Bioservices delivered a strong performance in Q4 2023, marked by record revenues and backlog, showcasing operational efficiency and market demand.
While facing challenges such as margin impact and resource allocation shifts, the company remains optimistic about its growth prospects and revenue stability.
Strategic opportunities lie in leveraging the strong backlog, cash flow, and planned CapEx to drive future growth and operational excellence.

Avid Bioservices reports revenue growth and expansion plans for 2024

Avid Bioservices' Q1 2024 performance reflects revenue growth and strategic investments in expanding capacity and capabilities.
While facing challenges in gross margins and profitability, the company's progress on the new facility signals future growth potential.
Opportunities lie in leveraging the completed facility to drive revenue, enhance market competitiveness, and address analyst concerns for improved performance.

Avid Bioservices reports record backlog and growth opportunities for 2024

Avid Bioservices showcased financial resilience with an improved cash position and strong backlog, despite facing revenue challenges. The company's focus on new services, customer diversity, and operational efficiency bodes well for future growth.

Avid Bioservices reports revenue growth and strategic expansions in Q3

Avid Bioservices reported strong revenue growth and backlog performance in Q3, while facing revenue decline and cost challenges compared to the previous year. Strategic expansions and operational refinements position the company for future opportunities in a competitive market landscape.

Avid Bioservices reports revenue growth and new projects, faces cost challenges

Avid Bioservices reported positive revenue growth and secured new project agreements, positioning the company for future expansion.
Despite challenges such as increased SG&A expenses and a net loss, Avid's focus on capacity utilization and new programs offers growth potential.
Addressing operational challenges and uncertainties while capitalizing on opportunities can drive Avid Bioservices towards improved financial performance.
The company's financial stability, strong backlog, and focus on profitability highlight a resilient business strategy amidst industry dynamics.

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Avid Bioservices, Inc. engages in clinical and commercial manufacturing of biologics. It focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.

TUSTIN, Calif., Sept. 12, 2024 (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 that the company will participate in the upcoming Craig-Hallum Bioprocessing Conference. Nick Green, president and chief executive officer, and Pramthesh Patel, Ph.D., vice president of process development, will be the featured speakers in a fireside chat at the conference, which will take place virtually on September 19, 2024.

Avid Bioservices to Participate in Craig-Hallum Bioprocessing Conference

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q1 2025 Earnings Conference Call September 9, 2024 4:30 PM ET Company Participants Tim Brons - IR, Vida Strategic Partners Nick Green - President and CEO Dan Hart - CFO Matt Kwietniak - Chief Commercial Officer Conference Call Participants Sean Dodge - RBC Capital Markets Matt Hewitt - Craig-Hallum Capital Group Paul Knight - KeyBanc Capital Markets Max Smock - William Blair Operator Good day and thank you for standing by. Welcome to the Avid Bioservices First Quarter Fiscal Year 2025 Financial Results Conference Call.

Avid Bioservices, Inc. (CDMO) Q1 2025 Earnings Call Transcript

-- Recorded First Quarter Revenue of $40.2 Million -- -- Signed $66 Million in Net New Business, Resulting in Backlog of $219 Million --

Avid Bioservices Reports Financial Results for First Quarter Ended July 31, 2024

TUSTIN, Calif., Sept. 03, 2024 (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 services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the first quarter of fiscal year 2025 on September 9, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the first quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for First Quarter of Fiscal Year 2025 After Market Close on September 9, 2024

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q4 2024 Earnings Conference Call July 2, 2024 4:30 PM ET Company Participants Tim Brons - IR, Vida Strategic Partners Nick Green - President & CEO Dan Hart - CFO Matt Kwietniak - Chief Commercial Officer Conference Call Participants Sean Dodge - RBC Capital Jacob Johnson - Stephens Paul Knight - KeyBanc Matt Hewitt - Craig-Hallum Capital Group Max Smock - William Blair Operator Thank you for standing by, and welcome to the Avid Bioservices Fourth Quarter Fiscal Year 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode.

Avid Bioservices, Inc. (CDMO) Q4 2024 Earnings Call Transcript

-- Recorded Fourth Quarter Revenue of $43.0 Million – Highest in Company History -- -- Signed $30 Million in Net New Business Resulting in Backlog of $193 Million --

Avid Bioservices Reports Financial Results for Fourth Quarter and Fiscal Year Ended April 30, 2024

TUSTIN, Calif., July 01, 2024 (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 services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the quarter and fiscal year ended April 30, 2024, on July 2, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the quarter and fiscal year ended April 30, 2024, and review recent corporate developments.

Avid Bioservices to Report Financial Results for Quarter and Fiscal Year Ended April 30, 2024, After Market Close on July 2, 2024

TUSTIN, Calif., May 23, 2024 (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 that the company has achieved a Committed Badge from EcoVadis, one of the world's most trusted providers of business sustainability ratings. Avid earned a score of 56 from EcoVadis, placing the company in the 62nd percentile globally.

Avid Bioservices Earns Committed Badge from EcoVadis for Sustainability Performance

NEW YORK , May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Avid Bioservices, Inc. ("Avid" or the "Company") (NASDAQ: CDMO).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Avid Bioservices, Inc. - CDMO

Although Avid is 30+ years old, the story has become much more exciting due to the shift to a pure-play biologics CDMO, pharma increasingly outsourcing biologics, and record revenue-generating capacity. Avid has an economic moat with its mission-critical, leading role in specialty manufacturing, the long-term stability and predictability in its cash flows, and high barriers to entry & exit. I present many potential catalysts, such as CTLT's sale to Novo, the BIOSECURE Act, commercialization of former assets, improved funding conditions, and a potential take-private.

Avid Bioservices: A Unique Growth Story With Many Tailwinds And Catalysts

TUSTIN, Calif., May 07, 2024 (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 that the company will participate at two upcoming investor conferences. Nick Green, president and chief executive officer, will be the featured speaker in a fireside chat at the RBC Capital Markets 2024 Global Healthcare Conference, and will deliver a corporate presentation at the 2024 Bank of America Securities Healthcare Conference.

Avid Bioservices to Participate at Upcoming Investor Conferences

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q3 2024 Earnings Conference Call April 29, 2024 4:30 PM ET Company Participants Tim Brons – Investors Relations Group Nick Green – President and Chief Executive Officer Dan Hart – Chief Financial Officer Matt Kwietniak – Chief Commercial Officer Conference Call Participants Jacob Johnson – Stephens Sean Dodge – RBC Capital Markets Matt Hewitt – Craig-Hallum Capital Group Max Smock – William Blair Paul Knight – KeyBanc Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices Third Quarter Fiscal 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode.

Avid Bioservices, Inc. (CDMO) Q3 2024 Earnings Call Transcript

-- Recorded Third Quarter Revenue of $33.8 Million -- -- Signed $41 Million in Net New Business Resulting in Record High Backlog of $206 Million --

Avid Bioservices Reports Financial Results for Third Quarter Ended January 31, 2024

TUSTIN, Calif., March 20, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (Nasdaq:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today it received a notice (the “Notice”) on March 19, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) advising the company that it was not in compliance with Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the “Rule”) as a result of its failure to file its Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2024 (the “Form 10-Q”) in a timely manner.

Avid Bioservices Announces Receipt of Deficiency Notice from Nasdaq Regarding Late Form 10-Q

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO) investors concerning the Company's possible violations of the federal securities laws. If you suffered a loss on your Avid investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Avid Bioservices, Inc. (CDMO) on Behalf of Investors

NEW YORK--(BUSINESS WIRE)---- $CDMO #classaction--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Avid Bioservices, Inc. (“Avid Bioservices” or “the Company”) (NASDAQ: CDMO). Investors who purchased Avid Bioservices securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/CDMO. Investigation Details: On March 6, 2024, Avid Bioservices filed a current report on Form 8-K with.

Avid Bioservices, Inc. (CDMO) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO) investors concerning the Company's possible violations of federal securities laws. On March 6, 2024, Avid disclosed that it had received an acceleration notice from a holder of its 1.250% Exchangeable Senior Notes due 2026. The holder further claimed that the accelerated amount, inclusive of principal and interest due and payable,.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Avid Bioservices, Inc. (CDMO) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO) on behalf of investors concerning the Company's possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On March 6, 2024, Avid disclosed that it had received an acceleration notice from a holder of its 1.250% Exchangeable Senior Notes due 2026. The holder further claimed that.

The Law Offices of Frank R. Cruz Announces Investigation of Avid Bioservices, Inc. (CDMO) on Behalf of Investors

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Avid Bioservices, Inc. (NASDAQ: CDMO) resulting from allegations that Avid Bioservices may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Avid Bioservices securities you may be entitled to compensation without payment of any out of pocket fees or costs through a conting.

CDMO LOSS ALERT: ROSEN, A LEADING LAW FIRM, Encourages Avid Bioservices, Inc. Investors to Inquire About Securities Class Action Investigation – CDMO

Avid Bioservices (NASDAQ: CDMO ) stock is falling on Thursday after the contract development and manufacturing company announced the pricing of a private placement. The private placement includes 7.00% Convertible Senior Notes due 2029 with an aggregate principal amount of $160 million.

Why Is Avid Bioservices (CDMO) Stock Down 30% Today?

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today the pricing of $160 million aggregate principal amount of 7.00% Convertible Senior Notes due 2029 (the “2029 Notes”). In connection with the offering, the company entered into private placement purchase agreements with the several purchasers, each of whom is a “qualified institutional buyer” within the meaning of Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The closing of the offering is subject to customary closing conditions and is expected to take place on March 12, 2024.

Avid Bioservices Announces Pricing of Private Placement of Convertible Notes

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today that it intends to offer, subject to market conditions and other factors, $160 million aggregate principal amount of Convertible Senior Notes due 2029 (the “2029 Notes”) in a private placement (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). The company expects to price the Offering before open of market on March 7, 2024.

Avid Bioservices Announces Proposed Private Placement of Convertible Notes

TUSTIN, Calif., March 06, 2024 (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 preliminary earnings estimates for the third quarter and nine months ended January 31, 2024.

Avid Bioservices Announces Certain Preliminary Financial Results for Third Quarter Ended January 31, 2024

Avid Bioservices has invested heavily in building new facilities, causing lower margins and negative free cash flow. The company's recent expansion projects have increased its revenue capacity to $400 million, with expected adjusted EBITDA margins in the low to mid 30s. Despite the investments, the company's guidance for the current fiscal year implies limited growth due to a shift in project types and the new facility not being fully operational yet.

Avid Bioservices: Don't Miss The Bigger Picture

Avid Bioservices (NASDAQ: CDMO ) stock is falling on Friday following the release of its earnings report for its fiscal second quarter of 2024. Avid Bioservices reported adjusted earnings per share of -12 cents alongside revenue of $25.4 million.

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