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.

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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.

Avid Bioservices (CDMO) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Down 20.1% in 4 Weeks, Here's Why Avid Bioservices (CDMO) Looks Ripe for a Turnaround

Avid Bioservices, Inc. (CDMO) CEO Nick Green on Q2 2021 Results - Earnings Call Transcript

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Avid Bioservices: FDA CGMP Stringency Provides Stable Long Outlook

Former SVP of Global Manufacturing at Biogen Has Nearly 30 Years of Biopharmaceutical Industry Experience Former SVP of Global Manufacturing at Biogen Has Nearly 30 Years of Biopharmaceutical Industry Experience

Avid Bioservices Announces Appointment of Esther M. Alegria, Ph.D.

Avid Bioservices, Inc. (CDMO) CEO Nick Green on Q4 2021 Results - Earnings Call Transcript

-- Recorded Fourth Quarter Revenue of $27.6 Million and Annual Revenue of $95.9 Million -- -- Achieved Four Consecutive Quarters of Operational Profitability During Fiscal 2021 --

Avid Bioservices Reports Financial Results for Fourth Quarter and Fiscal Year Ended April 30, 2021 and Recent Developments

TUSTIN, Calif., June 22, 2021 (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 it will report financial results for the quarter and fiscal year (FY) ended April 30, 2021 on June 29, 2021 after market close and will host a conference call and 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 FY ended April 30, 2021 and review recent corporate developments.

Avid Bioservices to Report Financial Results For Quarter and Fiscal Year Ended April 30, 2021 After Market Close on June 29, 2021

Avid Bioservices (CDMO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Avid Bioservices (CDMO) Q4 Earnings Preview: What's in the Cards?

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Avid Bioservices (CDMO) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Avid Bioservices (CDMO) Stock Jumps 7.2%: Will It Continue to Soar?

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Avid Bioservices to Serve as Commercial Manufacturer for ADC Therapeutics' ZYNLONTA™ (Loncastuximab Tesirine-Lpyl)

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As of late, it has definitely been a great time to be an investor in Avid Bioservices, Inc. (CDMO).

Avid Bioservices' (CDMO) Shares March Higher, Can It Continue?

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TUSTIN, Calif., April 15, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (the “company”), 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 it has completed the redemption of all of the company's outstanding 10.50% Series E Convertible Preferred Stock (“Series E Preferred Stock”) as of April 12, 2021 (the “Redemption Date”).

Avid Bioservices Announces Completion of Redemption of Series E Convertible Preferred Stock

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Increased analyst coverage over the last few weeks might lead to solid price appreciation for stocks like Interactive Brokers (IBKR), Avid (CDMO), Oncternal (ONCT), Amtech (ASYS) and Aytu.

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TUSTIN, Calif., March 17, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), 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 KeyBanc Capital Markets Life Sciences & MedTech Investor Forum. Nick Green, president and chief executive officer of Avid Bioservices, will be the featured speaker in a fireside chat at the conference, which will take place March 23-24, 2021 in a virtual format.

Avid Bioservices to Participate in KeyBanc Capital Markets Life Sciences & MedTech Investor Forum

TUSTIN, Calif., March 10, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) (the “company”), 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 its wholly-owned subsidiary, Avid SPV, LLC (the “Issuer”), has priced its sale of $125 million aggregate principal amount of exchangeable senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on March 12, 2021, subject to customary closing conditions. The Issuer also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $18.75 million aggregate principal amount of the notes.

Avid Bioservices, Inc. Announces Pricing of $125 Million Offering of Exchangeable Senior Notes

Avid Bioservices, Inc. (CDMO) CEO Nick Green on Q3 2021 Results - Earnings Call Transcript

Avid Bioservices (CDMO) delivered earnings and revenue surprises of 150.00% and 9.03%, respectively, for the quarter ended January 2021. Do the numbers hold clues to what lies ahead for the stock?

Avid Bioservices (CDMO) Surpasses Q3 Earnings and Revenue Estimates

TUSTIN, Calif., March 08, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) (the “company”), 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 its wholly-owned subsidiary, Avid SPV, LLC (the “Issuer”), intends to sell, subject to market and other conditions, $125 million aggregate principal amount of exchangeable senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Issuer also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $18.75 million aggregate principal amount of the notes.

Avid Bioservices, Inc. Announces Proposed $125 Million Offering of Exchangeable Senior Notes

Shares of Avid Bioservices (NASDAQ:CDMO) increased in after-market trading after the company reported Q3 results. Quarterly Results Earnings per share rose 116.67% over the past year to $0.01, which beat the estimate of ($0.03).

Avid Bioservices: Q3 Earnings Insights

-- Third Quarter Revenue Increased 61% to $21.8 Million -- -- S igned $74 Million in New Orders to End the Quarter with a Backlog of $120 Million --

News for Avid Bioservices Stock (CDMO)